Studies that have been conducted over the last five years have shown time and time again that women, once they reach 25 years old, pay more for car insurance than males do. Why is this? Women are much safer drivers generally. According to The Insurance Institute for Highway Safety (IIHS), male drivers of all ages account for 68% to 70% of all accidents. You would think that with this fact alone, that women should pay less. That is true in some areas, and when you are under 25 the premiums are less due to the risk of young male drivers. Once you hit 25, though, insurance prices seem to go up. The older you are, the more you will have to shell out for coverage.
Numerous companies have done studies to figure out why the rates are higher. The Zebra has found that as a rule, female drivers pay about 7.6% more than males do, for the same coverage. This also factors in driving records, location, etc. The companies have found that specific areas charge women more than others. They have also found that in some areas that elderly women pay even higher premiums. Insurance carrier rates also vary how much more they charge than women.
Some states have added laws that make insurance companies charge the same across the board, no matter what the gender is. This still does not stop the rates from being different because the insurance companies claim that the rates are not different because of gender, but because of the risks involved to them. The more money that they must pay out in an accident, the more they will charge the consumer. To compare rates and policies go to your local agent or do an online search. If you want a comprehensive car insurance quote go to companies that compare the rates for you.
Arguments go back and forth between companies and insurers. It basically boils down to two different reasons why women are charged more than men. The study conducted by the IIHS, the same one that was mentioned above, showed that 20% to 25% of women involved in an accident are more likely to die. 37% to 73% of women are more likely to be seriously injured when in a wreck. This information is bad news for women because it raises the risk values up. When risk values go up, insurance premiums go up.
Two specific factors are attributed to these statistics. The first is that when it comes to an accident, more times than not the driver that gets hit is a woman. That means that women are usually not the cause of the accident, but that they are the victims. Once again insurance companies have different opinions on why this is. Some say that it is because females are more distracted than men. They are busy on their phones, looking in the mirror, and putting on makeup. Basically, prepping for the day while driving. Others say that this is simply not the reason that it is because women are more defensive when it comes to driving. Being a defensive driver means that you do not cause accidents, but that you may cause road rage in others. Road rages cause drivers to do stupid things and not think clearly, which in turn causes a fender bender.
The second reason that insurance companies say women get injured, or killed, more often during an accident is the type of cars they drive. Statistics show that women prefer to drive smaller, more compact cars. These types of cars will get damaged easier, which causes more serious injuries to the occupants. Since women prefer smaller vehicles, they are more prone to injuries and death. The good aspect of this fact is that the advances of safety features in cars and trucks will lower this percentage soon. The safer a vehicle is the fewer injuries that will occur.
These two specific facts are attributed to why the risk level for women is higher than for men. The insurance companies claim that it is an assessment that comes from data that they have compiled. It is not a gender-based decision at all. Whether you believe them or not really doesn’t matter now for women in most areas. You will continue to pay more until the facts show that you are not at higher risk than a man with the same record, and at the same age. Check around with all the insurance companies that you can and find one that will offer you a good rate, based on your specific driving record.
