Why is Car Insurance Cheaper for Women Drivers?

Like it or not, age and gender are usually determining factors when it comes to insurance rates. According to statistics, it is the women who enjoy the best car insurance rates available while males in their 20's usually have the worst. The reason for this is pretty simple – women are involved in less severe accidents. With males, the damages tend to be extensive, typically as a result of speeding or even driving while tipsy. Women on the other hand have very minor collisions, which means that money-wise, they cost the insurance company less.

However, those aren't the only reasons why insurance companies prefer women over men drivers. Studies show that women are also more likely to avoid driving when the conditions are not in their favor. For example, women typically drive fewer distances than men and would often not resort to speeding. Their cars also fall within the adequately-priced category which means that having them fixed after an accident is not that costly. There are also fewer women who are employed as professional drivers such as bus, truck and taxi operators.

Factors Affecting Women Drivers

Of course, not all women can enjoy these low insurance rates. This would also depend on their specific situation. Typically, single women purchasing insurance for themselves would have no problem getting a bargain policy. When they start including other individuals though, the numbers might get more problematic. Other considerations for women drivers include:

– Where they keep the car – with women, the main risk is not damage but theft. This is why women should make a point of telling the insurance company about the safety precautions they have undertaken to prevent any car theft. As much as possible, cars should be kept in a garage with an alarm system to alert the owner in case of a break in.

– Family car – as a rule, individuals tend to drive more carefully when their children are in the back seat. Since women tend to drive around with their children more often, then they are less likely to take risks.

– No Claim Bonus – for those who have gone a year or more without filing for claims, this could really work to their favor. This kind of streak is good for the insurance companies as well, effectively lessening the risk of claims in their eyes. Make sure to take advantage of this perk as much as possible.

How to Get Cheaper Insurance for Both Men and Women

Of course, that doesn't mean that only women could enjoy cheap car insurance for themselves. With the right approach, any demographic can get the chance to lower their car insurance rates to the lowest possible amount. All it takes is knowing exactly what factors could affect the individual's current standing. That being said, following are some of the factors that may be manipulated to achieve cheaper insurance rates.

Driving History

A good driving history could always sway insurance providers into awarding lesser insurance rates to individuals. This is especially true for younger males who are considered the highest risk when it comes to car accidents. For this reason, individuals are advised to be very careful of how they drive and avoid getting even a speeding or parking ticket to their name.

Car Model

Most cars today are specially designed for safety. Individuals who are just in the process of buying a vehicle for themselves are advised to get something that has a high ranking in terms of protection during driving.

Modifications to the Car

As a rule, insurance companies do not really appreciate it when individuals modify their car, making it more accident-prone or even thief-prone. Some of the modifications that could spike up insurance rates for individuals include body kits, alloy wheels, engine changes and audio equipment. Satellite navigation systems could also make the car more of an eye-catcher for thieves. Of course, note that this doesn't include modifications that could protect the car such as an alarm system.

Reminder for Both Men and Women Drivers

When it comes right down to it, individuals shouldn't let their auto insurance rates be affected by gender bias. Take the time to find out what factors can be manipulated for cheaper insurance and make use of the as much as possible. By doing this, individuals would be able to get the coverage that they need and deserve. Like most insurance types, individuals are advised to read the fine print thoroughly and don't be afraid to ask questions. Make sure to browse different insurance companies and ask for quotes before finally committing to one provider.