Are The Premiums Higher On Car Insurance For Women
Insurance companies have historically used demographic data on the gender and age of their consumers to determine insurance rates. In some cass, using this data places a burden on certain drivers to pay more for insurance than others. At one time the belief that men are better at driving than women, may have been the motivating factor behind higher premium auto insurance for women.
That erroneous delusion no longer holds true in our present society since insurance providers are now more competitive and more informed to the fact that women are equally, and in some case more responsible than men when it comes to driving.
The cliché that women are not as good drivers as men has led some people to believe that car insurance for women is more expensive. Actually a recent Carnegie-Mellon investigation revealed quite a different result concerning the controversy of men vs. women drivers. The study showed that men were twice as likely to die in a traffic accident than women were.
Further evidence from the insurance industry revealed that while 68% of women have no traffic violations, men who have never received a traffic violation is only 64%. An additional result of the study was the amount of multiple violations. The question revealed that men have received multiple citations 10% more often than women.
Since the insurance companies are aware that women are lower risk, many insurance companies gear specific programs toward car insurance for women. This eliminates the possibility that a woman will pay a higher rate than a man will simply because of her gender. By setting up special programs, these companies are becoming more viable in providing car insurance for women.
The misconception that car insurance for women is more expensive has been debunked, as the industry has discovered that young men are actually the highest risk group. Insurance websites offer a free easy online quote to allow consumers to compare their rates against other drivers. A comparative quote will show the real difference in premiums and lay to rest the myth that car insurance for women is higher.
Even though a widespread viewpoint is that men are better drivers, the insurance companies do not tend to follow this flawed logic. Nevertheless, the insurance industry combines many factors into deciding a premium for each customer, and gender is not the only factor.
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