It’s no secret that statistically, women are less likely to make a car insurance claim than men. The figures show that not only do women tend to have fewer car accidents, but the accidents they do have cause far less damage than those of their male counterparts.
In fact, research undertaken by Association of British Insurers shows that the average cost of an insurance claim made by a woman aged between 30 and 50 is £1,200; for men in the same age group it’s £1,450.
Compared with a female driver aged between 17 and 19 where the average cost of a claim is £2,734, for a male of the same age it’s a whopping £4,473.
So, how does this affect your insurance premiums? Well, if you’re under 30, your insurance could be half the price of your male counterpart. Between the ages of 30 -50, the costs tend to even out.
Typically, claims submitted by women tend to be less serious – things such as minor bumps and scrapes - which cost far less to repair than if the car hit a tree for example. This is why most insurers see women drivers as less of a risk. Although it should be noted that the law allowing insurers to base their pricing on gender is currently under scrutiny and awaiting a ruling.
Of course, every car insurance policy is different and your personal circumstances will dictate the price you pay for your premium. By comparing prices with Policy Expert,we can help you to find the policy that offers the best features and value for money for your lifestyle.
Don’t be tempted to renew with your existing insurer just because it’s convenient. By spending just a few minutes entering your vehicle details and comparing car insurance quotes, you could save pounds.
Not only that, changing your insurance provider can bring extra benefits such as discounts on home, travel, pet or life insurance as well as increased cover, such as breakdown rescue, protected no claims benefit, and much more.