Is Car Insurance More Expensive for Men or for Women? (Plus Tips to Save Money)
Car insurance is crucial for all drivers to have, and there are a range of factors that providers consider when calculating how much to charge customers for cover.
A lot of people think that the cost of car insurance is different depending on your gender, but is this true, and can you save money even if you are unavoidably going to be discriminated against on this basis?
Age makes a difference
It’s not just being a man or a woman that shapes your expected car insurance costs, but your age at the time you apply.
While studies have shown that national averages are slightly tipped in favour of men overall, if you are under 25 then you will pay more as a man than a woman. By the time you reach your mid-30s, the difference is negligible, and it tilts slightly in favour of women for the over-65s.
The real takeaway is that being a teenage driver is far more expensive than being a middle-aged driver, and that gender is not as much of an issue as many would have you believe in this regard.
Comparing car insurance quotes online
Whatever your age, gender or circumstances, the best way to make savings on car insurance is to compare quotes from different providers online.
Sites like Cheapinsurance.com are set up specifically for this purpose, and you can quickly pinpoint the best value packages available, rather than having to do this manually. So if you are looking for your first policy, or the time to renew your current cover has arrived, comparison tools will be your best friend.
Driving history matters
Men and women who have proven themselves to be safe drivers will be able to save significantly on car insurance.
The more years you have been on the roads without getting in an accident or making any kind of claim, the less your cover will cost.
It’s all about assessing risk. If you are demonstrably a low-risk prospect for insurers, then they can be confident that this trend will continue. If, on the other hand, you have a checkered history behind the wheel, expect to pay more.
Credit score can impact insurance costs
Another potentially surprising aspect of car insurance is that premium prices are dependent on your credit score in virtually every state, save for California.
Again this comes down to statistical analysis which has been done, showing a correlation between a bad credit score and reckless behaviour on the roads.
If you want to save on car insurance, and also reap the myriad other benefits of having a good credit score, then taking steps to improve it makes sense. Keeping up with loan repayments, reducing your debt and being responsible with your money will help.
Location is relevant
As you’d expect, as well as there being different laws governing car insurance in each state, there are also geographic factors that come into play when dictating average premium prices.
For example, the higher likelihood of extreme weather conditions occurring in Florida means that drivers in this state have higher average car insurance costs.
Obviously, you can’t always make the choice to move to a different part of the country just to save on car insurance, but even things like where you keep your car overnight can decrease or increase the cost of cover.
In short, you don’t need to worry too much about whether an insurer is penalizing you because of your gender, because this will have a marginal influence over the price you are offered, and other elements will be far more important to consider.