Cheaper car insurance for ladies?

June 24th, 2008

In such a competitive market car insurance providers are constantly looking to differentiate themselves from their competitors, and there seems to be a growing number of companies that claim to offer the best prices for lady drivers. But do they really?

According to an article in The Telegraph they do not. Statistics have proven that women tend to be the safer driver behind the wheel. 2006 government statistics revealed that 88% of all motoring offences were committed by men and of all the dangerous driving cases, a huge 97% were by men. This month The Association of British Insurers has published statistics for car claims and they show that the cost of claims made by women are considerably less then those made by men. For example, the cost of a claim made by a woman aged between 31-35 is on average around 26% cheaper than a man of the same age.

So in theory car insurance should be cheaper for women. However, according to an article by MSN women are more likely to get a better deal on their car insurance if they deal with mainstream motor insurers. This is backed up in an article by The Telegraph. They have published a table that shows what women would pay for their insurance at companies that advertise as being ‘female-friendly’ compared to other insurance companies, and the results are quite surprising. The table shows that if you use a female-friendly car insurer you could be paying on average almost £200 more on your car insurance and that’s an extra cost we could really do without. Insurance company Swiftcover have carried out their own research which also shows that women could be paying above the odd with some female-friendly car insurers.

So if you are a lady make sure that when your car insurance is due for renewal you shop around, you’ll probably be surprised at how much you will save.

Entry Filed under: advice, men and women, insurance