Gender really has an impact on the costs of your insurance policies. Whether you are a man or a woman, you probably have wondered why car insurance for women can be cheaper than those for their male counterparts. That is not to say that insurance companies in general have a bias towards female drivers. Believe it or not, they are actually being reasonable. Read on and you will find the reasons why.
1. Women drive safer (and better) than men.
Statistics have shown that women cause less accidents than men do, and when they do, the extent is not much. There have also been more deaths caused by car accidents that were recorded for men than there were for women. Research also shows that women wear seatbelts more often than men do. All these make women safer drivers than men. So, it follows that it is more unlikely for women to use their insurance claims in the duration of their coverage, thus making their rates lower. Car insurance for women is priced low at that because they are not as aggressive as men are on the road.
2. Women drive simpler cars.
While women can go all out when shopping for clothes, bags, shoes, and other accessories, a different trend has been observed in terms of the cars that they buy. Men, on the other hand, would always want to pump their cars with accessories that are often expensive, making it a higher risk. That contributes to increasing the premium rates of car insurance for men. The cost of car insurance for women remains low at that because the risks associated with their cars are not very high.
3. Women drive shorter distances.
This is an assumption that is usually made by insurance companies. Since most of the time it is the men that do the driving, women have fewer chances to encounter trouble on the road. The fact that complications are unlikely to be encountered lowers the risk calculation for women, dropping premium rates even more.
While men would find female drivers as “bad drivers” because they drive more slowly on the road than they do, it is good to know that these “bad drivers” are compensated well by cheap car insurance for women. And the good thing about this insurance is that it comes with a bunch of added perks, such as handbag coverage, car security, and breakdown coverage, that are rather absent in other general kinds of insurance.
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