Car insurance for women
It is famous that females pay less for car insurance than males do. At least, according to the real data used by many insurance carriers, men make more frequent and larger claims on their policies – as a result of more aggressive driving.
However, how about car insurance for women? How about women when they age? Women often get the best rate at what age?
Car Insurance for Women – How Rates Change with Age
- It is calculated that women under 25 often pay the most. Those youngest drivers are the most expensive to insure.
- At the age of 55 and around, women tend to pay the least for car insurance
- The pivotal ages for women and the car insurance payments of them are 25 and 65. From 21 to 25, the rate decrease by 24%. Rates increase between the age of 65 and 75, rates decline by 19%.
Between 25 and 55, the average monthly car insurance bill for a female tends to drop about 19%. Aside from maturity, the reason behind that reduction is the likely presence of kids in cars, causing people to drive more carefully and safely. For women, the rates decline consistently between the age of 25 and 55, before returning because drivers enter the golden years.
Car Insurance for Women – Why Women Often Pay Less
Gender is among a lot of factors insurers take into account upon calculating the premium of customers. However, why it becomes a factor? Not mention to the fact that women do not drive as much as men, accident consistently reflect that those male drivers, take more driving risks than their female counterparts. Insurance companies price the policies by predicting the risk, in part. There are three major categories suggesting women tend to be safer drivers than men: speeding, accidents, and DUI convictions.
Frequency of Accidents
Females tend to be less likely than males to have car accidents; it means that insurers will be less likely to pay claims for their female clients. Because males are about 10% less likely to wear the seat belt, they arguably cope with a higher risk of injuries which result in higher medical expenses. As driving records are main pricing factor, the history of safe driving will typically translate into lower rates, for two genders.
Speeding by Gender
The speeding tickets imply risky driving and a higher chance of causing car accidents, so having a few on your driving record could result in higher premiums. According to the National Highway Traffic Safety Administration, it has been reported that speeding was more likely to be a common factor for males (24%) than for women (15%) in most fatal accidents.
DUIs By Gender
Basically, DUIs along with other impaired driving convictions impact your insurance premiums. According to FBI, in 2013, it is estimated that about 536,202 males were arrested due to DUIs in compared with 174,149 females. Premiums could rocket by as much as $2,700 after the DUI conviction.
When it comes to car insurance, the kind of car that you drive also impacts your own car insurance rate. Males might be more likely to select those more pricy models to insurance. Insurers often consider the safety ratings plus with claim history of the models and makes you drive, so the safer you car was in the past, the less you may have to pay to insure it.
Guys: Keep in Mind That Gender Is Not A Main Rating Factor
If you are a man, it really means that a female clone of yourself will likely pay less for the car insurance. Your claim history and record of personal driving play a bigger role, meaning a gentleman who is safe-driving could expect to pay less than such a gentlewoman who is accident-prone.