If you already tried policy shopping for car insurance, you may have noticed that women have cheaper car insurance charge compared to other type of drivers. This can be explained through the categories used by car insurance companies.
High risk drivers are usually those who are involved in accidents, have bad driving records and notorious driving attitude. Car insurance companies charge a higher rate to them. Teenagers, males, and senior citizens are categorized as high risk drivers. Could it be that age and gender a reason for the disparity?
Between men and women, the difference can be seen in the kind of accidents they meet. Women tend to be involved in minor accident while men are mostly involved in 85 percent of serious road offenses. In addition to that, women usually drive carefully while men drive recklessly. These are the reason why women are categorized as low risk drivers. Moreover, their insurance claim is actually cheaper than their male counterpart which translates to cheaper insurance cost.
Teenagers have the most expensive car insurance. They belong to high risk category because of their lack in driving skills, immaturity and may not be as responsible as the adults. They are usually involved in a higher number of car accidents with fatal or critical injuries. In a statistics provided by Rocky Mountain Insurance Information Association, the risk of a crash for teenagers between the ages of 16 and 19 is three times as high as for drivers between the ages of 65 and 69. Because of this, car insurance companies charge them higher.
Senior citizens have health problems that affect their driving skills even though they are still capable of driving. These put them into high risk category. Because of poor eyesight and slow latency, they are more at risk while driving. Their insurance rate is still the same with that of ordinary policy holder and will be based on their driving records. However, they have to undergo series of check-ups to assess their fitness for the insurance policy they are applying for.
Women should not rely on this alone because insurance companies check and assess the driving skills of every insurance policy applicant. High risk drivers have to pay higher premiums that would cover future possible expenses. Regardless of age and gender, you should always drive safely and maintain your driving record to avail of cheaper car insurance policy in the future.