A recent research shows that even the differences between man and woman are present even in the field of auto insurance.
The study conducted by the Post Office Car Insurance (POCI), a research firm that promotes comprehensive auto insurance as a defence against car damages and accidents, was aimed to research on how well either sexes could get quality auto insurance. The findings show that men get better and more comprehensive auto insurance than women do, with percentage points of 58% to 44% respectively.
The reason behind this is because men are more likely to get into auto accidents than women, according to statistics. Thus, they are compelled more to get better auto insurance to be better protected and financially backed in case they do get into such incidents.
On the other hand, women are less likely to get into auto accidents, also according to statistics, and are given lower rates by their insurers compared to men. Auto insurance companies thus view females as a lower-risk group who have a better driving record, lower mileage, and are less prone to accidents than the opposite sex. Thus, they are given better and more affordable deals from their issuers.
The POCI study also showed that there was a noticeable 51% increase in policies of individual comprehensive insurance, which in turn also means that clients now prefer to have auto insurance that enables greater and better protection. The firm also advises and encourages drivers to have a clear and thorough understanding of the insurance policies that they are getting. This way, car owners would be well informed about the different aspects covered in the policies and what are the particular dangers they are being protected against.
The POCI provides different kinds of insurance plans such as comprehensive auto insurance that would protect the insured from fire, theft, and third party damages caused on their car. Anyone interested for such an expansive coverage could try to contact the firm for the services.
Meanwhile, other findings in the study showed that teenagers and drivers with bad records are given higher rates due to statistic facts that they are more prone to getting into accidents just like men are. As according to the science of risk taking that auto insurance companies are well-familiar with, those who are part of the high-risk groups should be given higher charges while those in the lower-risk group should be given lower charges.