Why do women get lower Auto insurance rates?
Question by Drago: Why do women get lower Auto insurance rates?
Why do women get lower auto insurance rates I am a 23y/o male and pay the same rate as a 20 y/o female and I have a clean record. I found that it is roughly 15-20% for the opposite sex, and even women with violations can still manage to have a lower rate than men who have clean records. Is there any real reason behind this or just another way Auto insurance companies like to take our money.
Best answer:
Answer by William
Men tend to be more aggressive drivers?
Statistically, the insurance companies pay out the same to 23 y/o male drivers as to 20 y/o female drivers.
Give your answer to this question below!
July 11th, 2010 at 6:12 am
While women are statistically more likely to crash and claim than men, men are more likely to be in an accident causing a fatality.
Basically a woman is more likely to reverse into a parked car, but less likely to cause a high speed crash. As soon as there is a fatality the insurance companies costs rocket.
July 11th, 2010 at 6:28 am
Feminist version of equality.
July 11th, 2010 at 6:38 am
Young males from 16 to I believe about 25 tend to get into accidents more often than females of the same age, and the insurance companies have to pay out more for males’ policies. When males and females cost the insurance company the same amount of money, then their rates are the same.
July 11th, 2010 at 7:09 am
Its all part of a Republican conspiracy.
July 11th, 2010 at 7:34 am
Because we are better drivers!
July 11th, 2010 at 7:51 am
I worked for a very large major insurance corporation and was laid off last year. So I was on the front lines for a couple of years as an Underwriter, who basically approves or declines the policies and reviews the ratings.
Women, statistically by history, are substantially lower in risk for certain types of accidents as opposed to us men. Whether we like it or not, the numbers and data do not lie. I thought about a lot of things differently until I studied the numbers that men are more aggressive drivers by nature, even though some women are awful drivers as well.
July 11th, 2010 at 8:09 am
They don’t EVERYWHERE – in MA, for example, women and men pay the same for auto insurance, just like they pay the same for life insurance, even though men are more likely to die sooner. Gender basis for rates vary by states. MA prohibits having different rates based on gender.
In states that DO allow different rates based on gender, it’s because they’ve found a corrolation between claims payout and gender – just like they charge more for 16 year old drivers, and just like they charge more for someone with 2 DUI’s.
It’s all about the numbers. If there wasn’t a corrolation, the states’ insurance departments wouldn’t allow the rate difference.
And check out this site, if you want to find your best or cheapest auto insurance rates just in few minutes,
http://Cheap-Auto-Insurances.info/
Here you can get free quotes from different auto insurance companies in your area, its the best way to find an affordable auto insurance with a reliable company.
Hope this help!