Women are generally more hesitant and slower drivers, while men drive faster and take more risks. But the question is whether or not women get better value for money with a women-only insurer. The answer, it seems, depends on your age. A male between the ages of 18-25 years old would typically pay more than his female counterpart, but as you get older the difference between premiums levels off. In comparing the market overall, women’s car insurance is generally cheaper up to the age of 45. After this age, costs are more level.
However, research by moneysupermarket.com found that a 30 year old woman driving a Ford Focus would pay on average £622 with a specialist ‘female-only’ insurer, whereas other non-gender specific insurers charged an average of £388 for the same car.
If it’s price you’re concerned about – who isn’t? – you’re better off looking at the market as a whole rather than restricting yourself to a specialist provider. However, female-only insurers do offer certain perks such as handbag insurance and offers with female-friendly car servicing centres.
When men have accidents, they are statistically more likely to cause more damage and cost the insurance company more money. Increasingly, however, women are picking up more aggressive tendencies on the road. No longer is it men who are more prone to breaking the Highway Code, speeding, or driving without a seatbelt.
Insurers typically price their premiums on past experience and, if women are becoming less of a ‘safe bet’ behind the wheel, it won’t be long until premiums catch up with those of their male counterparts. Until then, it’s still worth cashing in on the statistical data: that as women, we’re safer, and better, drivers!
However, research by moneysupermarket.com found that a 30 year old woman driving a Ford Focus would pay on average £622 with a specialist ‘female-only’ insurer, whereas other non-gender specific insurers charged an average of £388 for the same car.
If it’s price you’re concerned about – who isn’t? – you’re better off looking at the market as a whole rather than restricting yourself to a specialist provider. However, female-only insurers do offer certain perks such as handbag insurance and offers with female-friendly car servicing centres.
When men have accidents, they are statistically more likely to cause more damage and cost the insurance company more money. Increasingly, however, women are picking up more aggressive tendencies on the road. No longer is it men who are more prone to breaking the Highway Code, speeding, or driving without a seatbelt.
Insurers typically price their premiums on past experience and, if women are becoming less of a ‘safe bet’ behind the wheel, it won’t be long until premiums catch up with those of their male counterparts. Until then, it’s still worth cashing in on the statistical data: that as women, we’re safer, and better, drivers!