Women’s Car Insurance Are Cheaper
Myth: Women’s car insurance are cheaper than men’s car insurance.
Fact: Women’s car insurance are cheaper than men’s car insurance.
Yes. There is no error here. Statistics show that in general, car insurance for women are a lot cheaper that car insurance for men. It is because there are more cases of men getting involved in car accidents than women. And where women are involved in vehicular accidents, the severity of the damages are less than when men are involved. This will translate to men drivers applying for larger insurance claims compared with women who applied for smaller insurance claims as their damages are minimal. And it is given in the insurance industry that the greater the damage claims are, the higher the insurance premiums go too.
Insurance premium is also determined in part by the number of miles a car is driven in a given year. The higher the number of miles the car is driven, the higher goes the insurance premium for that car. Male drivers usually drive longer distance than their female counterparts, exposing them to an increased chance of having an accident. For such reasons, the average cost of insurance premium for women drivers are lower than those of male drivers.
Men prefer bigger and powerful cars which they can race whenever they face a long and open road. Unmindful of the cost of gas, men drivers prefer six cylinder or eight cylinder monstrosity of a car or truck while women prefer small, economical car. From an insurer’s point of view, a muscle car commands much higher insurance premium than a small car for grocery trips or dropping off kids to school.
Women drivers are less likely to get involved in road rage incidents than men. They are cautious and courteous drivers and as such, they are given preferences in tight situations on the road thus avoiding any untoward incidents while driving. Women drivers are less prone to get tickets for traffic violations thus avoiding drastic increase in their insurance premiums.
Everybody who drives know that a good driving record will keep your car insurance premium low. Insurance companies normally give good driver discounts to those who keep their driving records free of accidents and traffic violation convictions.
However, getting the lower insurance quotes does not mean you are getting the best insurance coverage. There are different insurance coverage available: third party only liability; third party, fire and theft coverage; or full comprehensive insurance coverage. One type of coverage will definitely cost more than the other so it is necessary that you will check first what kind of insurance coverage you do need. There are extras that might be added to your policy such as glass coverage, legal expense coverage or road rage coverage. The more extra coverage you get, the more that you have to pay more for your insurance premium. But then again, we are not going to just count cents when we are getting insurance coverage. We will be counting benefits and security aside from peace of mind because that is what insurance coverage is for.
See: Gas credit cards
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