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Deciding factors to calculate premium rates for women drivers

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There are many key factors that play important role in deciding the premium rates for drivers wanting auto insurance. Apart from the type of the car, driving records and place of residence, the driver’s records, and the age and gender of the driver matters too. Insurance rates are generally high for senior drivers, and college students, since they are considered higher risks on road. Women drivers, however usually get lower automobile insurance rates when compared to male drivers of the same age.

The difference in the premium rate is mainly based on the statistics that the insurance companies depend on. These statistics decide what cars are safe on roads and which models have least number of accidents. They depend upon these statistics to decide which age group of drivers is safe and which are risky. Women drivers are statistically shown to be safer on roads because of the following reasons:

  • They do not take risks and break the traffic rules, so they are relatively safe.
  • Driving records of women drivers do not have as many traffic offenses recorded, according to the insurance company statistics.
  • Records also show that women drivers are less experimental when it comes to learning driving and stick to the rules, which makes them better on roads. They are less likely to be involved in serious car crashes. They are also less likely to be speeding on roads, which makes them a safe bet for insurance companies.
  • Women drivers always buy cars that are statistically shown to be safe on roads. This means that they qualify for extra discounts that insurance companies give for specific car models. Safer car models mean safer drivers on roads.
  • Regular maintenance and checks matter a lot in functioning of the automobile. Many insurance companies find that the women policy holders are more prompt when it comes to car maintenance. This too contributes to lower premium rates.

Although the difference in premium rates may not be high, women drivers get better rates in many insurance companies. Shopping around for a good insurance deal is a good idea to obtain better discounts like joining discount, or policy change discount and the likes. Although statistics show that women drivers are safer on roads, the individual driving records of every policy holder decides the premium rate for their insurance. If the women driver applying for a policy has more traffic violations recorded, then the premium rates are bound to be higher than a male policy holder without traffic violations in the same insurance company.