Women less likely to take out comprehensive car insurance

Young-female-driver

Women are less likely to take out comprehensive car insurance when compared to men, according to a recent survey.

The research was commissioned by The Post Office and found that just 44% of women had taken out comprehensive cover on their motor, which is significantly less than the 58% of men who did have comprehensive car insurance.

The Post Office says it recommends comprehensive insurance for all motorists as it offers the widest range of protection including cover against theft, damage, and some policies even offer breakdown cover.

Third party, fire and theft policies offer a lesser level of protection, although drivers are often tempted to opt for this policy as it is cheaper than comprehensive cover. The advice being given from The Post Office is to thoroughly read through a motor insurance agreement before signing on the dotted line so as to be clear about what exactly is covered as part of the policy.

Separate research found that women are less likely to be involved in a head-on car collision compared to men, however they are more prone to accidents at slower speeds such as at traffic lights, car parks, and roundabout. Female motorists are the worst culprits when it comes to bumps and scraps to their vehicles, all the more reason to take out a comprehensive insurance policy perhaps?!

High up on the average women’s list of priorities for their motor insurance policy, is cover to protect against the theft or loss of car keys.

Elderly women more risky to insure than boy racers

old-woman-driver

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.