Car Insurance For Women Only

You've probably seen the adverts on television for car insurance especially for women, where three glamorous blonde women are sitting pretty in a bubblegum-pink car. These good-time girls are contrasted to a miserable group of Australian sheep station guys left out of this cheap women-only car insurance deal.

Sisters are insuring it for them, the message is clear - they can get better deals. But is this female-friendly advertising just another marketing ploy or is their a real benefit for female motorists?

Most insurance companies recognise that women are cheaper to insure and their policy costs reflect this. Certainly this is the case until women reach middle age, according to research by the AA (based on quotes for men and women, driving a Ford Focus and living in Cambridgeshire). For young drivers, age 17, the insurance cost for a woman is 1,938.13 pounds per annum, for men this figure rises by almost 1,000 to 2,906.25 pounds. At age 30, the cost for women is still over 40 pounds cheaper at 367 pounds. By the age of 40 the saving falls to just over 7 pounds. For men and women of 50 years old, the cost for women is just 45 pence cheaper. And by the age of 60, men (for the first time) can enjoy a 7 pounds 30 pence advantage over their female counterparts when their insurance premium reaches 245.40 pounds.

The promise of cheaper deals is based on the fact that, on average, women don't have as many serious accidents and therefore should be less risky and less expensive drivers to insure. There is also clear evidence that when it comes to bad driving, men are way out in front. Annual statistics from the Home Office reveal that almost three quarters of speeding offences, 96% of dangerous driving offences and 85% of careless driving were committed by men.

Some insurers also market the idea that car insurance can be tailored to women's individual needs. One women's insurer provides 300 pounds for handbag insurance as well as counselling phone line after accidents and a promise of repair practices that are women-friendly. (I wonder how a women-friendly car repair service works. The mind boggles!). I suppose that they could ensure that cars can be available to be collected from garages in daylight or in time for a daily school run.

Another insurance company, a pioneer of car insurance for women, believes that dedicated services for women form part of a wider social change. The majority of women now have a driving licence (61 per cent of women compared to just over four fifths of men) and insurance that is female friendly and /or exclusively for females simply reflects the rise in the number of single female households and women who own their own car.

Certainly, women friendly insurance companies offer some of the cheapest deals in the marketplace but other, non-specialist companies disagree that gender- specific insurance gives the consumer much extra. General insurers warn that these women only brands are just part of a clever advertising campaign.

It is true that it can be misleading to draw general conclusions about the price of car insurance. Altering a few variables like occupation and age can reveal different results. Comparisons show that your postcode, for example, is far more significant than gender. Living in Liverpool can more than double the cost of your insurance whereas living in a rural, low-crime area such as Norfolk will bring the cost of your premiums right down.

The best advice is to check out exactly what is on offer from the insurers and see how it best meets your own individual requirements.

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Comments

Tue, 17 Mar 2009 at 10:14 AM, by simon
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