A great deal of modern marketing tends to be gender specific: women’s vitamins, women’s fitness. Is there such a thing as womens car insurance? There are insurance brokers who specialize in cheap car insurance for young women in other countries. In the US, while most provide insurance products for both, because of the reduced risk associated with women as a group, their cheap car insurance for women will likely be less expensive. This is good information to have when you start shopping around for quotes and speaking with agents. Start to keep your eye out for companies whose advertising seems to speak to women. Chances are they will help you take advantage of that fact to find you the best rates.
Why do insurance companies believe women are a better risk than men?
- According to the Insurance Institute for Highway Safety, more men die every year in motor vehicle accidents than women.
- Industry analytics point to men being at least fifty percent more likely than women to receive traffic violations for reckless driving, driving under the influence of alcohol or narcotics, speeding, stop sign violations and other offenses.
- Motor vehicle crash incidents involving female drivers tend to be less severe involving lesser damage and lower loss claim amounts than those incidents involving male drivers.
What types of insurance coverage do I need?
As women have taken on more responsibility for their own and their family’s finances, the need for the right coverage is paramount. One risk women may have is to be under-insured. The risk of being under-insured can be avoided by visiting with your licensed insurance agent or broker at least annually to make sure the coverage you have is sufficient. If your car is newer or in superb condition, you will want to make sure you have enough collision coverage to repair or replace the vehicle in case of an accident. An older car may not warrant quite as much coverage. To save some money, try a higher deductible rather than reducing your coverage. To protect your vehicle from losses sustained from fire damage, flood or animals, you will want to include comprehensive coverage. If you are leasing your car or you still owe money on your car loan, you may be required to carry both kinds of coverage on the vehicle. Your rates will be affective by the type of car you drive, of course.
Liability insurance for women includes coverage for bodily injury and property damage. Bodily injury coverage protects you if another party is injured in an accident in which you are involved. It does not cover you or other people that are covered under your policy. In addition to the medical expenses, bodily injury liability coverage will also provide you a legal defense if you are sued. Property damage protects you if your car damages someone else’s property. If you accidentally drive over a fence or valuable landscaping, for example, this coverage would pay to restore the property of others to its original condition, or as close to it as possible.
Another important kind of cheap female car insurance, women should have is Uninsured Motorist Bodily Injury. If you, your passengers or members of your household who are covered under your policy are injured or die in an accident with an uninsured driver, claims are paid under this type of coverage. It also makes up the difference in coverage if the accident is involving a driver is insured, but insufficiently to cover the loss.
Car insurance for ladies may not be wrapped up in a pink ribbon, but it is nevertheless a custom fit for the way women, as a group, drive and manage risk. Taking advantage of this special treatment is more than a women’s prerogative, it is her right.
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