Men and women were not created equal—at least when it comes to car insurance. Sure, there are many other factors that matter when it comes to car insurance, such as annual mileage and the number of safety features in your car, as well as personal information, such as age, occupation, and marital status. But the simple fact is that one factor almost always means paying less for car insurance—being a woman.
We say no. After all, it’s not personal. It’s statistical.
Why the Cost Difference Between Men and Women?
Weren’t all men created equal? In terms of statistics, no. Female drivers are statistically more likely to make safer driving decisions. Women also statistically:
- Get into fewer accidents than men
- Drive safer cars than men
- Drive fewer miles than men
- Are less risky on the road
- Commit fewer traffic violations
- Are less likely to drive under the influence of drugs or alcohol
Some of the specific numbers reported by the Insurance Institute for Highway Safety illustrate these differences:
- 71% of accident-related deaths in 2012 were caused by men
- Men die in accident-related crashes 50% more often than women
- 23% of male drivers crash due to speeding. Only 14% of women crash due to speeding.
- 84% of men wear their seatbelts, but 88% of women wear their seatbelts.
These numbers don’t point to discrimination. They point to a natural tendency that’s been researched and continually confirmed. Because insurance companies are in the risk prediction business, they pay attention to these numbers—not really to gender. It just makes financial sense.
The Age Factor
However, the risk factor between men and women (and therefore, the price of car insurance) is not always so disparate. Age lessens the risk factors separating men and women since between ages 16-24, men are much more likely to make riskier decisions than women. After age 24, men tend to make less risky decisions until eventually, with age, men and women tend to make statistically the same driving decisions. The good news is that everyone’s insurance premiums tend to drop after age 25 (Happy Birthday!), but the bad news (for guys, anyway) is that women still tend to pay less for insurance overall.
How Can Men Save on Insurance?
Just like women, there are many things to do to lower car insurance payments, including:
- Taking a defensive driving course
- Taking advantage of insurance discounts
- Driving a safe car
- Driving safely while on the road
We’re sorry, gentlemen, but – at least in terms of car insurance – it pays to be a girl! Still, you can save on car insurance no matter who you are. See one of our many articles on car insurance discounts and saving tips for more information.
When it comes to those defensive driving insurance discounts, we’d just like to say that ApprovedCourse.com is an equal opportunity course provider. Check out one of our easy, affordable online courses today!