Online Vehicle Insurance Blog
Free online vehicle insurance quotes
Get insurance rates comparisons and
buy your auto insurance policy instantly.
vehicle insurance quotesFind the cheapest auto prices
Get a Vehicle Insurance Quote

  

CarsDirect.com

Dollar Rent-a-Car, Inc.

US Auto Parts Network

Gender Matters: Why Men Pay More for Vehicle Insurance

Posted on Sunday, Aug. 19th 2012 9:13 AM by Online Vehicle Insurance Quotes in Vehicle Insurance No Comments »

People strive for gender equality in most facets of life, but in the Vehicle insurance world, it’s a commonly known fact that men usually end up paying more. Data provided by California regulators, for example, shows men could expect to pay an average of about 13 percent more for the same coverage. Gender-based pricing differences are based on extensive statistical information that shows male drivers file more claims than female drivers. Although crash data usually comes out in a woman’s favor, gender can’t always be used to set rates.

Debates have raged for years between men and women over which sex has the best drivers. But as far as insurance companies are concerned, it’s all about numbers. Information in the National Highway Traffic Safety Administration’s 2008 National Motor Vehicle Causation Survey shows that almost 54 percent of drivers involved in vehicle accidents between July 2005 and December 2007 were male.

Most insurance companies take this information very seriously when rating drivers because it influences the probability that they may have to pay out on a claim. Because insurers lose money when claims are paid, people who are at a higher accident risk are generally charged more for vehicle coverage.

Men Can Find Cheaper Rates by Shopping

The amount that a motorist is charged for car coverage is dependent on the individual company. Based on an analysis of rates given in the Vehicle insurance and Shopper’s Guide provided by Kansas regulators, it’s apparent that gender-based price differences can vary significantly. Of the 28 companies that are listed, the premiums for a 21-year-old were on average 24 percent—or $204—higher when the driver is male. But at its largest, the pricing gap was 44 percent; at its lowest, it was 8 percent.

Despite the accident statistics surrounding the different genders, some insurers do not rely on this information when rating drivers and others are legally barred from using this data. A handful of states—including Massachusetts, Montana, North Carolina, Michigan, and Pennsylvania—ban the practice.

Vehicle owners’ best chance of finding affordable coverage that is priced in their favor is to shop around. Although men may encounter higher rates, generating online car insurance quotes from several sources can provide pricing options, and the possibility of finding an insurer that rates men more favorably.

 

Posted on Sunday, Aug. 19th 2012 9:13 AM | by Online Vehicle Insurance Quotes | in Vehicle Insurance | No Comments »

Leave a Reply

You must be logged in to post a comment.

Copyright 2011 (c). Online Vehicle Insurance | All Rights Reserved. DEL AMO Insurance Services, Inc.

Online vehicle insurance offers the ability to immediately compare car insurance quotes from the best insurance companies.  Online vehicle insurance operates in all states providing the ability to instantly rate auto vehicle car insurance quotes from the auto insurance companies in your area will help you save money on your monthly auto premiums. Save on online auto insurance and learn how to save money on auto vehicle insurance online and calculate auto specific premiums to help take advantage of your good driving record.  Free Auto Insurance Quotes Free online vehicle auto insurance quotes with an option to buy your car policy online through top rated insurance company. 

Insurance vehicle quotes are available in the United States Only. All Quotes are provided by licensed Insurance Agents and Licensed Insurance Agencies and Carriers throughout the United States. All policies are subject to Carrier's Underwriting Guidelines before issuance. We Serve the following States: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia (Washington DC), Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming. This web site does not offer or sell insurance but is a marketing service of DEL AMO Insurance Services, Inc., as a referral service only.