Up until 2012, gender played a role in working out insurance premiums and could be priced differently for men and women. However, a law which was introduced by the European Court of Justice (ECJ) in December 2012 meant that providers couldn’t take gender into account when calculating car insurance.
Why do women pay less for car insurance?
Women don’t actually pay less for car insurance based on their gender anymore. Women were able to get cheaper insurance previously because the premiums were based on statistics that showed women carried an overall lower risk.
After the Gender Directive was passed by the ECJ, providers can’t offer cheaper car insurance for women. There are other factors which providers use to calculate insurance premiums which are affected by differences between gender, such as car choice, but the premiums between men and women have been balanced out.
Why do some insurers market themselves to women specifically?
Although there are some providers which brand themselves as insurance companies for women, there’s nothing to stop a man being insured by these companies. Legally, providers must be open to insuring people of any gender at the same premium as not doing so would count as being discriminated against.
Some providers which market themselves mainly toward women will have additional extras included in their insurance policies which are more relevant to female drivers, such as priority breakdown cover to avoid being stranded in vulnerable locations and handbag cover to insure any valuables you take with you from your car in a handbag, rucksack or otherwise.
How can women get cheaper car insurance?
The easiest way that women can get cheaper car insurance is through using comparing policies to tailor car insurance to their specific requirements. Comparing policies using a price comparison form for car insurance will help you find the best deal for you regardless of gender, so make sure you enter as much information as you can so you can get accurate car insurance quotes personalised to you.
Car Insurance for Women FAQs:
- At what age does car insurance go down for women?
No matter your gender, the cost of a car insurance policy generally goes down once you reach 25, assuming you’ve been driving since you passed your test once you turned 17. This is both due to having seven or eight years of driving experience, but also because younger drivers are statistically more likely to be involved in a road accident.
- Why is car insurance more expensive for women?
Gender isn’t a factor in working out your car insurance premiums, though it was once widely accepted that women were able to get cheaper insurance quotes than men. It’s illegal for insurance providers to discriminate based on gender, so any difference in cost would be down to other factors such as driving habits or vehicle type.
- What is the cost of fully comprehensive insurance for women?
The cost of a car insurance policy is worked out based on a number of different factors, but gender isn’t one of them. A fully comprehensive policy would take into account your driving experience, the type of car you drive, and many other factors, but it would be illegal for an insurance provider to use your gender.
ASDA Money is a trading name of Asda Financial Services Ltd and Asda Stores Ltd which for general insurance are Introducer Appointed Representatives of Vast Visibility Limited, 8 Princes Parade, Liverpool, L3 1DL, authorised and regulated by the Financial Conduct Authority. Firm reference number 566973. You can check these details on the FCA Register.
The ASDA car comparison service is arranged by and administered by Vast Visibility Limited.