Cheap Car Insurance Women

When it comes to buying car insurance, the one noticeable aspect of it is that women end up paying less than their male counterparts. This generally makes car insurance for women cheaper in most cases. In fact, women pay on average about 6.8% less than most men on their auto insurance policies. The most important reason that cheap car insurance for women is more attainable than it is for most men is due to women drivers’ lower risk factor.

To understand what this means requires a look into how car insurance companies calculate risk. Most insurance companies rely on several sets of data collected from third-party companies. These companies are often tasked with collecting data pertaining to accidents, traffic violations and driving habits. If an insurance company wants to find out how teenage drivers fare in certain driving situations as opposed to older drivers, these companies are there to provide that set of data. From this, insurance companies then figure out which groups are more likely to be involved in traffic accidents and therefore have to file claims. This is why teenaged drivers are often charged with higher premiums than people over the age of 25.

Most data collected by these companies show that women are far less aggressive drivers than their male counterparts. They are less likely to own vehicles that are prone to being stolen or modified, and they are also less likely to own sports cars or other vehicles that are geared towards performance. Insurance companies are also being accused of engaging in what some say is discriminatory pricing. In fact, car insurance companies are free to discriminate between male and female customers when it comes to rates in 43 states. This is another reason that car insurance is cheaper for women than it is for men. Studies also support women being safer drivers than men. One study claims that men have a much higher risk of death due to many factors including aggressive driving and a larger propensity towards risk-taking.

Cheap car insurance for women can be even cheaper when comparison shopping is involved. The insurance arena is a competitive one where rates between companies can span between hundreds of dollars. By comparing the rates of multiple companies, buyers can stand to save at least $250 per year on their car insurance.