Sunday, December 6, 2009

Cheaper car insurance for women

There are hundreds of car insurance companies to pick from. If you’re a woman, you should be looking at finding the best car insurance for a woman driver. All companies will not treat women the same from a risk perspective. That is primarily because statistics bear out the fact that, although there exists a derogative stereotype about women being bad drivers, they are actually safer drivers than men. This is obviously a statistical average, and not every women driver is going to be safer than every man driver.

However, there are some facts, according to the insurance commissioners, that back up their propensity to give women lower car insurance rates. Insurance companies are only slightly less versed in statistics than are bookies. If there’s one thing they know, it’s who is more likely to get into an accident. Heck, they probably know what the person ate before the crash. Here are some things that tip the scales in favor of women when it comes to setting auto insurance rates:

  • Women get in fewer accidents per driver than do men. This is especially true of younger people.
  • On average, men’s claims cost more to settle than do women’s claims.
  • Men have a higher incidence of motor vehicle crime per person than do women.
  • On average, it takes men more attempts to pass their driver’s test than it takes women.
  • Men are less likely to wear seat belts than are women.

The above reasons illustrate why women pay less for car insurance than do men. Simply put, men are more expensive customers than women, so the policies are priced accordingly. Indeed a 2007 Carnegie Mellon University study reports that men have a 77% greater chance of dieing in a motor vehicle crash than do women. That’s a sobering statistic, but it further backs up the justification for the auto insurance pricing gap between men and women.

If you’re a woman, you should know that you will most likely get a far cheaper rate on your car insurance than your male counterparts, even if all other factors are close to equal. Even if your driving record is the same and you own the same make and model of car, as your twin brother, you’ll still pay less. The moral of the story: If you’re a woman driver and your company doesn’t give you comparatively cheap car insurance, you should look elsewhere.

One thing experts recommend to be sure you get the best rates is to shop around and compare. The problem is that there are so many different insurance companies, it’s hard to do. have it done for you, automatically. It is much faster and easier than manually doing it yourself.

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