Reader’s Question:

Is there such a thing as cheap female insurance? Does gender really matter in car insurance policies?

Hazel

Chicago, IL

Yes, a cheap female insurance does exist, but I think it would be best if we refer to it as “cheaper” insurance for female drivers. Gender is one of the factors considered by car insurance companies when they process an insurance policy application. You may think that an 18 year-old male driver will get the same insurance rate as a female driver with the same age, but actually he won’t. Chances are, the male driver will get a more expensive insurance premium, not because he applied for more coverage or that his car is more expensive (but it could count, too), but simply because of his gender.

Statistics show that male drivers who are in their younger years (24 years old and below) are more prone to accidents and traffic rule violations. As researchers put it, young male drivers tend to like the feeling of being in the “danger zone” because of the excitement that comes with it. This feeling or behavior often leads to accidents that caused hundreds of deaths and injuries – leaving those who survived either disabled or traumatized.

On the other hand, young female drivers are less prone to accidents because they are known to be “safer” drivers. Most of them dislike being in the dangerous aside; that’s why they get also get into less road accidents. Aside from this, they don’t drive as frequently as young male drivers do. In effect, they have less chances of getting into accidents or committing violations.