Generally it is well known that women pay less for car insurance as compare to men do. At least according to the actuarial data used by insurance carriers, make larger and more frequent claims on men car insurance policies. Generally as a result of driving more aggressively.
But how about a female only analysis? At what age does a woman get the best age? How about women as they age?
– Well answer to all these question, come up by the Cover Hound data, and others.
* Women under the age of 25 years pay the most. Youngest drivers are always the most expensive to insure the car as come to elder age of women.
* Women pay the least for the auto insurance around the age of 55 years old.
* The pivotal ages for women and for their car insurance payments are 25 and 65. Rate of insurance go down up to 24% from the age of 21 to 25. Men aren’t the folks who can claim down with their age. rates go up 19% between the age of 65 and 75.
* From the age of 25 to 55 the average monthly rate of car insurance bill for women drop 19% because of generally maturity, is the likely presence of children in the car, which causes people to drive the car much more safety.
* So it is clear that while it is true that man pay more for car insurance than women do- on average 12% more, and pay around $15,000 more over the course of driving lifetime. Women’s prices are vacillate within the gender according to age and all other things equal.
For women, the insurance rates are going down consistently between the ages of 25 to 55, before going back up as drivers enter their golden years.
However, a ruling made by the European Cour of Justice (ECJ) noe means that insurers cannot take gender while calculating the cost of insurance policy of car. the law, which came into existance on 21 december 2012, is bad news for women drivers who have to increse in the policy of car insurance.
What the ruling means for women’s car insurance.
According to the AA, young female drivers pay less premiums up to 50% less than the male car insurance premiums. However, ECJ ruling means that in order to ‘even out’ insurance rates, the cost of car insurance for women has been risen sharply.
This partly down to the fact that the women that especially female drivers under the age of the 25 years old are effectively have to pay premiums that reflect the risk of their male counterparts, with young male drivers statistically more likely to involved in the car accident.
Stats from the AA showed that a female driver are aged between 17 and 22 years are used to pay the premium of $2,792 before the law changed, compare with more than $4,073 for men in the same age bracket.
It’s estimated that the ruling has been added an average of $721 to the policies for women aged between 17 and 22 years old.
Maggie Craig of the Association of the British Insurers, which represents the majority of insurance providers in the British country, feels that the ruling….ignores the facts that taking a person’s gender into account, where relevant to the risk, enables men and women alike to get a more accurate price for their insurance.
Details do you need to get car insurance quotes?
To get the best car insurance quest and to compare with other insurance you need to give them some details of car related they are as follow:
* Car registration number.
* Your expected annual mileage figure.
* Where your car’s parked during day and night.
* For what you use car for e.g. commuting, business use.
* Your main driving license details.
How to get cheap car insurance
While there are many different types of factors you can’t control when it comes to cost of cover. There are some simple way to measures so you can take to keep the cost down in your search for very cheap car insurance, including:
* Paying a higher voluntary excess.
* Limiting who drives you car to just yourself.
* Parking your car in garage or driveway and away from the street.
* Keeping your mileage low.
* Fitting a security device such as an alarm, tracker, or immobilliser.
Don’t forget, you can also reduce cost of car insurance just by adding your partner to the policy. Adding your partner as named driver won’t stop you from getting a great deal on your car insurance. After all this, it’s your car you should decide who drives it.
Many Insurance company have been started a credit ratings of their policy holder to determine risk. Drivers with good credit scores will be get lower insurance premiums, as it is believe that they are more financially stable, more responsible and more financial support means to better maintain of their car’s. Those who have credit rating lower than their premium are raised or insurance canceled outright. It has been showed that the good driver with spotty credit score records could be charged higher premiums than bad driver with good credit scores records.
What about younger drivers?
Younger drivers are those driver who age is between 17 to 24 years old. They are probably hardest-hit by the EU ruling on car insurance because everyone under 25 no has to pay more. There is some good news though. If you’re between 17 and 24 years, you could save money just with your Younger Driver Insurance.
We can tell if you’re a safer driver just by fitting a Smartbox to your car, which will monitor your driving habits and how careful you are on the road. It will help to reduce 20% cost of insurance and in other way too, so careless driving could cost up to 20% more.
The information contain in the above article is education basis don’t misuse for any types of claim or due.