Is car insurance for a woman cheaper?

In the UK, women’s car insurance is marketed as a separate product. There are several niche insurers who cater for women drivers. Mainly, this is due to the understanding that women should be treated differently to men when it comes to insurance.

Figures produced by Governmental departments show that:

• 98% of dangerous driving convictions are men;
• over 90% of convicted driving offences are men;

On top of this, research has shown that women tend to drive slower than men and also do not cover as much mileage annually. Taking this into consideration when calculating an insurance premium, means that women are seen a lower risk and therefore an insurance company charges less for car insurance for a woman.

Different age groups
The statistics shows that younger women drivers, those under 45, will tend to receive the reduced premiums. Over the age of 45, the figures for accidents are more balanced that therefore reflect on the cost of insurance.

The future
The figures also show that the gap is closing between men and women but there is a long way to go. It should be said that it is the risk profile of a woman and their proven driving abilities by having less accidents and convictions than means they get more competitive premiums than a man of a similar age driving a similar car, but if that profile changes then insurance prices will go up.