Over three quarters of women believe European ruling on car insurance is unfair

Young-female-driver

According to a recent report published in the wake of the recent European Court of Justice ruling which found gender bias in the insurance industry to be discriminatory, 1 in 8 women believe the ruling is unfair.

Currently, women enjoy cheaper rates than male drivers on car insurance as statistics show that they are less likely to be involved in an accident, and even when female drivers are involved in a crash, their claims are lower.

However the European Court of Justice this week ruled that using gender as a means by which to calculate risk by insurance companies was tantamount to discrimination, and so from December 2012, gender will no longer be taken into consideration when calculating car insurance premiums.

The upshot of this is that women can expect higher rates of car insurance, while male drivers are likely to see a reduction. However a recent report found that the vast majority, 78%, of those women questioned thought the ruling was unfair. Only 22% of respondents thought the ECJ ruling was just.

Not surprisingly, the poll found that male drivers were happy with the ruling, with 74% declaring that they agreed with the decision from the court in Luxemburg that gender bias is discriminatory and that they welcome the change in the rules.

New pay as you go car insurance aimed at women drivers

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A new pay-as-you-go car insurance policy aimed at female drivers has just been launched by specialist insurance provider CoverGirl.

The new policy aims to reward careful drivers with reduced premiums and bonuses. The policy works by installing a special device in the policyholders’ car which monitors their driving.

If you’re a female driver who doesn’t use her car very often, and consider yourself a safe driver, this new policy maybe just up your street. The policy works through in-car telematics as a device is fitted to the car to record driving ability and practices.

The new piece of technology is known as the Clear Box is installed in the policyholder’s car and records the driver’s style of driving, how safe they are behind the wheel, average speeds they travel at, and the times of day at which they travel.

In the past, pay-as-you-go car insurance policies have penalised drivers for driving at certain times of the day. However CoverGirl say that this is not the case with their new policy as they will seek to reward drivers for safe driving and low mileage.

CoverGirl is a specialist car insurance company for female drivers. For more information on the new policy, please see their website.

Elderly women more risky to insure than boy racers

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Insurance rates for women increase after they reach their 50's recent figures have revealed

Recent insurance figures revealed that elderly women are considered a higher risk to insurance companies in comparison to young male drivers.

Typically it is a common conception that young male drivers, often dubbed “boy-racers”, who’ve recently passed their driving test are the riskiest candidates for insurers. However recent figures have clearly shown that the cost of insurance for women soars after she hits a certain age.

In 2004 the cost of motoring insurance for a woman would increase once she reached her 60’s, now however the gap is narrowing and women are noting a huge increase in the cost of insurance from their 50’s in some cases. It’s been claimed that women are involved in less accidents up until their mid 50’s, after which they are more at risk of being involved in an incident of some kind.

The figures showed that the cost of insurance for a female drive in her 40’s stands at £186, however the cost of insuring a woman driver on the exact same car at the age of 85 years of age, is £375.

The poor accident record of elderly women means they can be charged up to 50% more for motoring cover in comparison to younger men.

With the cost of motoring cover for older women rising, it’s becoming more important than ever to shop around for insurance quotes using price comparison sites to ensure they secure the very best price.

Study reveals women are better drivers

Study found that women are involved in less motoring accidents compared to men

Study found that women are involved in less motoring accidents compared to men

A recent study has revealed that women are better drivers than men. The survey took into account over 6 million insurance quotes and found that women are responsible for fewer motoring accidents when compared to men.

The results also highlighted the huge difference in motor insurance rates between male and female motorists. However the disparity is seen most acutely in the insurance prices for younger drivers with an 18-year-old male driver paying on average, £1,081 more than a female driver of the same age for motoring cover.

The study was conducted by insurance price comparison site moneysupermarket.com which also found that the average price male drivers pay for motoring insurance stands at £868 whereas the cost for women is considerably less at £517.

An expert on car insurance from the price comparison website added that not only do women benefit from lower premiums on their cover, these premiums also decrease at a much faster rate than those of men.

The good news doesn’t stop there for female drivers. It was also revealed that women’s car insurance lowers considerably as they get older with women in their 20’s paying an average of £598 a year on motoring cover, and a woman in her 40’s paying £260 per annum.

Men more likely to drive without motor insurance

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A survey commissioned by a popular price comparison website has shown that men are more likely than women to get behind the wheel without valid motoring insurance. Out of all of the motorists who were questioned as part of the study, 23% of the male drivers said they had driven without insurance in the past, compared with just 16% of women. 

The same research also threw up a more worrying piece of information as it found that more people are choosing to drive without any kind of insurance. The figures revealed that 33% more motorists than last year are opting out of covering themselves and their vehicle with insurance. 

In October of last year it was reported that the cost of motoring insurance had reached an all-time high, and now with the added pressure of the credit crunch cutting people’s spending, it appears fewer individuals can afford to cover the cost of insuring a vehicle. 

The authorities have warned that driving without valid insurance is a very serious offence and those who are caught will be faced with a £200-on-the-spot-fine, and will have 6 points added to their license. It’s an offence to drive a vehicle without insurance regardless of the distance travelled and the police have warned that they are clamping down on those who drive without valid insurance. 

Personal injury claims are one of the biggest worries for insurance companies these days and with more people choosing to claim on these grounds following an accident, this is having a knock-on effect on the price of insurance for motorists.