Car insurance for lady drivers


 Car insurance for lady drivers

Women drivers, get out of your car.

Whether you’re a woman or simply have a lady-like touch on the steering wheel, women drivers are left at a disadvantage with car insurance rates compared to men. The Insurance Information Institute found that women pay up to 20% more than men with auto insurance in the state of Illinois. The study also show that females end up paying an average of $1,500 more per year for liability and comprehensive coverage rates than their male peers. “I think it is primarily due to the fact that they see you as being less responsible and getting into more accidents,” says Jeff Martin who co-owns Nationwide Insurance in Chicago. “Even though that isn’t always the case it is factored into their rates.”

While it is possible that men end up in more accidents than women, the discrepancy in rates does not align with an accident-prone difference. If you consider the annual accident statistics reported by the National Highway Traffic Safety Administration, you will see that only there are more male drivers on the road than female, men only account for two-thirds of all crash fatalities and 4 in 5 deaths result from crashes involving males .

When it comes to statistics for insurance rates, the numbers seem to be drawn to a blank slate. “Insurance companies have their own internal algorithms that they use for determining rates,” says Managing Editor Des Toups. “What those are and how exactly they work is anybody’s guess. Basically, there is no logic to them at all.”

With auto insurance rates based on strict mathematical formulas, women drivers can expect to see a higher price tag on their policy than men who drive identical cars and have comparable driving records. Fortunately for female motorists, this disparity is not the same for all women. “I think the difference between men and women drivers is so miniscule that it shouldn’t be a factor when they go to buy auto insurance,”says Martin of Nationwide Insurance.

While the difference in rates may seem unfair towards some women drivers, it might really be a question of where you live. In New Jersey, females are quoted with an average premium of $1,114 per year while their male counterparts pay close to $1,000 less. However these differences are mitigated by a recent study conducted by Consumer Reports which found that in some states women were actually quoted with lower premiums than men.

Regardless of the price tag, as an insurance agent Martin believes that female drivers should not have to bare with a higher cost for coverage simply because of their gender. “I think it is outrageous that women are paying more for car insurance than men,” he says. “Insurance should be based on the risks associated with your specific circumstances.” 

Direct Quote - Allstate Insuring Your Future Since 1922
Direct Quote - State Farm Mutual Automobile Insurance Company
Direct Quote - Progressive Insurance Company
Direct Quote - Liberty Mutual Independent Insurance Agents Inc. 

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