Although gender equality continues to find its way into nearly every classic American institution, one area where an appropriate inequality remains is in auto insurance rates.
In the insurance world, women retain a significant advantage over their male counterparts. Cheap female car insurance is relatively easy to obtain, and there are a variety of reasons why insurance companies actively solicit the business of women drivers.
Despite the cliché that women are generally not as skilled in driving as men, actuarial statistics tend to prove otherwise. Using complex arithmetical matrix’s, the insurance industry has determined that while the accident rate for female drivers isn’t substantially lower than their male counterparts, the accidents they have are generally less serious. There is typically less damage to the car they are driving as well as to the other vehicles involved in the accident. This is the primary explanation as to why womens car insurance is cheaper.
The reason for the significant difference in the seriousness of the accidents has to do with differing driving habits between men and women. In general, men tend to drive faster and more aggressively. They also drive while intoxicated as a higher percentage of total drivers and exhibit road rage more frequently.
In fact, women drive while intoxicated 25% less than men, engage in road rage 9% less, and have 7% fewer serious accidents. In total, men account for 73% of all fatalities in car accidents.
Statistical comparisons of moving violations reveal an even more startling discrepancy. For example, the ratio of reckless driving convictions between men and women was 3.41 to 1, speeding was 1.75 to 1, DUI was 3.01 to 1, and stop signal violations were 1.53 to 1.
It is therefore no surprise that women enjoy less expensive insurance rates in 43 of 47 states that offered this type of data.
When analyzing specific very cheap car insurance rates, the average national quoted price for the first 4 months of 2009 was $1710 per year for female drivers with men projected at $1834 annually. This represents a 7.3% advantage for women obtaining the identical coverage. In some states, the disparity was as high as 20%
As a result of these statistical differences, women are provided with extensive options in purchasing cheap car insurance for young women. Many companies actually specialize in insuring only women. Their strategy focuses on the overall better driving performance and the reduced claim rate women experience as a way to operate a profitable and lower risk business.
When female consumers shop for car insurance for ladies, it is important that they thoroughly compare the features and types of coverage offered for each policy. Regrettably, stereotypes often lead insurance salespeople to assume that women will buy more coverage than they actually need.
Consumer education is the key to avoiding the potential of purchasing unneeded coverage. When comparing policies from two different companies it is critical to carefully check the overall level of coverage and the deductible, paying particular attention to the comprehensive and collision provisions. A lower deductible will cost more in terms of premiums because in the event of an accident requiring repair, the owner of the vehicle will pay less and the insurance company will pay more. Higher deductibles mean less out of pocket cost for premiums but will result in higher expenditures for a repair.
Likewise, liability limits should also be examined carefully. Higher liability limits result in a higher premium because the insurance company absorbs greater risk. However, the temptation to lower premiums by purchasing the minimum liability limits should be avoided. A catastrophic accident where the policy holder is at fault could result in the loss of personal assets if the liability reimbursement proves insufficient.
Women looking for low-priced car insurance should also be wary of paying extra because of a recognized company name. Many reputable auto insurance companies offer inexpensive car insurance but don’t spend lavishly on national advertising campaigns. Instead, check the company’s financial rating at A.M Best or the individuals states Department of Insurance.
Always investigate and establish a new policy about a month before the current policy expires. If there is a discrepancy in the premium when the bill arrives, there will still be time to cancel the new policy and continue with the current coverage uninterrupted.
With sufficient planning and thorough research, women can use their statistical superiority in driving to find the best deals on cheap female auto insurance.
- Cheap Car Insurance For Young Women
- Womens Car Insurance
- Very Cheap Car Insurance
- Car Insurance For Ladies
- Cheap Car Insurance For Women
