Younger Women Pay Less for Auto Insurance
Believe it or not, gender does indeed play a role in determining a persons auto insurance coverage and premiums. Auto insurance companies have studied the data on national accident statistics for years and years, and have come to the conclusion that gender does indeed play a role in the way we drive and ultimately, the way we are insured. But what demographic does this benefit most? The answer is younger women drivers, particularly teenagers and other newly licensed drivers. Because young women drive more responsibly and safely than their male counterparts, young women drivers can expect to pay less than young men for auto insurance.
How does this work? Insurance companies review accident data with a fine toothcomb, and time after time, the evidence shows that younger men drive more recklessly and get into more accidents. They also drive more, period, in terms of sheer mileage. Chalk it up to the teenage need for bravado or competitiveness with other young men, but regardless, younger women generally tend to drive more safely. When you put it all together young men cost more to insure. The result is that younger women are less expensive to insure, and their premiums reflect it. This changes with time of course after a certain age men and women have the same accident statistics, and the gender gap closes to parity.
Many experts agree that there are changes coming in the way young women drive. In terms of accident statistics by gender, the number of young women getting into accidents has been slowly rising. Young women are increasingly adopting the driving habits of young men increased aggressiveness and recklessness, as well as instances of road rage and other types of problem driving. Some day, perhaps in the near future, young American women will lose this gender advantage and pay the same auto insurance as their male counterparts.
Before you get auto insurance, make sure to sit down with a qualified car insurance expert and go over all your questions. When it comes to spending your money, you need to consult with the experts first.