Do women really get cheap auto insurance?

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By: Sanders Patricia
on 3rd Dec,2015

Women are getting cheap auto insurance than men. Check out the reasons and how men can also get lower auto insurance rate like women.

It is a fact that women get cheaper auto insurance rates in comparison to men. Because, according to statistics, women meet fewer accidents than men. And this is the reason they get lower premium than men. But, is this the only reason women are getting lower rates than men? Let's, unveil the mystery.

Women may get a lower salary than men, but they're a winner when it comes to scoring in auto insurance. Yes! Most of the insurers consider a lower rate for women.

Why do women get this advantage?

  1. Men are more risk taker than women.
  2. From Crash statistics 2000-2009, Department of Transportation claimed, men are more risk taker. They get involved in 18 million more accidents than women.
  3. Insurance Information for Highway Safety (IIHS) claimed 71 % male victims died due to crash.
  4. When it comes to seat belts and suspected license, women are also in a far better position than men. They wear seat belts 10% more than men.
  5. Women hardly get into a car accident. Gender-based statistics on risky driving behavior goes against male drivers.
  6. According to The National Highway Traffic Safety Administration, in case of a dangerous accident, it has been proven that speed plays a vital role. And here again, men beat women by 24% and 15%.
  7. FBI claimed, for DUIs 743,029 men were arrested and 244,195 women arrested in 2012.
  8. A cheaper car means less auto insurance premium. Men usually choose a car that are pricier to insure.
“According to the Insurance Information Network, men pay approximately $1,520 a year on average for auto insurance, while women pay just under $1,400 a year. “

How can men also get lower auto insurance rate like women?

1. Getting a defensive course

In some states, as per the law, the insurance company will have to offer discounts to those people who have taken a defensive driving course.

These courses aren’t at all much costly and take less time to learn. So, if you want to save extra money on auto insurance, you can join the course.

2. Choose the right car

Costly cars are going to cost you more on the insurance policy. While buying a car, it's essential for you to decide as to which car you need rather than how the car looks. Thus, you can save lots of dollars on the auto insurance policy.

3. Have a good credit score

Having a good credit score is important to take out new credit. So, before applying for the auto insurance policy, check your credit score. If you don’t have a good one, try to improve it as fast as you can. Remember, the better your score is, the lesser you need to pay the premiums.

4. Get discounts

If you have no records of accidents or tickets, then you can easily qualify for discounts such as:

  • You can get discounts if you’re a teacher, scientist, doctor, engineer. The insurer may give you a “favorable professional rate”. Ask the insurance agent for these discounts.
  • Try to keep some features (alarm, anti-theft device) to get a lower rate.
  • Good educational records also help you in getting low premium offers on auto insurance. So, take out the certificates to get the best of offers.

Final words

Women get this advantage as per reports till date. But, there are still many chances for men to get the best auto insurance quote. You can't change the driving record but at least can try your best to save money on auto insurance. If you’re a safe driver, then it's time to prove. Have a talk with the company (you’ve chosen to buy insurance from) about the eligibility and your driving behavior. Also, check the terms and conditions of the insurance company before opting an auto insurance for your car. Don’t feel bad on the gender-biased rating, instead focus on the lower rates that you can easily afford.

Read on: Early retirement saving - Why women struggle to keep up with men

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