Men cost Car Insurance providers more than Women

Women will soon find that their car insurance premiums will increase due to the fact that the EU has passed legislation stating that car insurance companies are no longer allowed to base quotes on a persons’ gender. However, Diamond car insurance has recently undertaken a study of four hundred thousand car accident claims and found that men actually do cost car insurance providers more than women, meaning that women could be insured for a cheaper amount.

The study found that generally men are more likely to be involved in serious accidents such as multi-car pile ups, having a head-on collision, hitting a crash barrier, running down an embankment or knocking over a pedestrian. Meanwhile, women are more likely to be involved in less serious car accidents such as crashing into a parked car, colliding with another vehicle in a car park, reversing into a parked car, or having an accident when driving out a minor road. Managing Director of Diamond, Dave Halliday, said: “Accidents caused by men are on average more costly than those caused by women. This is why in the past women paid lower insurance premiums than men. It’s a month since the EU gender directive came in and our research clearly shows that there are differences between men and women.”

The AA has also published research this week which shows that the cost of car insurance for young women aged between seventeen and twenty two has increased by 4.7 per cent on average, meaning that they now pay around £1,464. Furthermore, the cost of car insurance for a young man of the same age has actually dropped by around 1.9 per cent, meaning that they would now only pay £1,858 per year. Even though this is still more expensive than the price for female drivers, it seems that many women are losing out due to the new EU legislation, especially as they are unlikely to claim on their car insurance for expensive accidents.

Leave a Reply