Car insurance on the increase again….

There has always been a big debate over who are better drivers and there always will be but now the EU have ruled there will no longer be a gap between the cost of insurance for men and women depending on your sex.

Now I think women are a better driver, most of the time.

Yes I was recently in an accident, that I was driving in… however we were hit by a male driver!

In all seriousness though have pulled together some statistics regarding this:

  • Car and life insurance has been cheaper for women for years.
  • Young males are 10 times more likely to be killed or injured than a driver aged over 35. This is the main reason why men pay around 40 % more for car insurance until the age of 40.
  • Odds are you did know this, but this is set to change next month thanks to an EU ruling. As a result, women’s car insurance premiums are likely to rise.
  • From the 21st of December it will be illegal to use gender as a basis for discriminating in the pricing of pension annuities and life insurance.
  • Research from suggests that this new ruling might see women’s life insurance premiums rise by as much as 21%.
  • Government estimates suggest that women between the ages of 17 and 25 could see their car insurance costs increase by up to 24%.
  • Unisex insurance rates will have virtually no impact on men and women above 40-45 as they are already treated as near identical risks at that age.
  • Young men will benefit from these changes, with estimates that they will see 10% or more clipped off their premiums.
  • Women get a small payback when they hit pensionable age. Currently women receive lower annuities than men because they live longer, but the ruling will mean women may have to be given higher pension incomes.

If you’re a women driver though there are a few things you can do to make sure you get the best price for your insurance before this comes in to play in December.

  • Look at motor insurance first – if you’re a woman, particularly a young woman, and your policy is due for renewal in the next few months, it’s definitely worth seeing if it’s more cost-effective to renew early and have your policy locked in at the pre-gender
    equality rates for the next year. Remember to include any cancellation fees, refunds, loss of no claims bonus, etc.
  • Black boxes, which can be fitted to cars to check how you’re driving, will help to reduce premiums if you drive carefully.
  • Small cars are always cheaper than big ones, so consider downsizing.
  • Fill in your proposal form accurately. If you’re a light user, say so. It will help your premiums.
  • If you’ve got a variable rate policy, you may want to consider switching to a fixed one – just bear in mind that no-one knows for sure how the prices will be affected after the 21st December

Also to help promote this new policy coming into play have commissioned a series of videos, Britain’s worst driver showing the benefits of being a women driver! Well worth a look if you fancy a giggle.

With everything on the increase the only thing we can hope is that the pay follows suit soon!

Do you think its fair that we pay the same for car insurance across the board or do you think men are better drivers anyway?

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