Its no secret that over a lifetime men will pay more for car insurance then women with the same driving profile but have you ever wondered why? There are many reasons that women pay a lower rate for car insurance but are they justified? Insurance companies sure think so and here are just a few of the reasons they give women a break when it comes to car insurance premiums.
Women Tend to be Safer
When comparing averages, women absolutely have an advantage when it comes to insurance premiums. The exact amount of the advantage will certainly vary depending on factors such as age, traffic tickets and credit history but if a woman and a man living in the same city with the same basic profile shop around for insurance, in almost all cases the women will be offered a lower rate.
Insurers love statistics and statistics show that women are less aggressive drivers and tend to drive more cautiously than men. They receive fewer tickets and are more likely to use safety systems such as seat belts. Men are a higher risk and that is why they pay more for car insurance on average.
Exactly how much more reckless are men? The National Highway Traffic Safety Administration (NHTSA) found that in 2009 more than 70 percent of the people involved in fatal car crashes were men. Its important to remember that while men get more tickets and are involved in more accidents, not all women are perfect drivers. Statistics show that over the past 35 years the number of fatal accidents involving women has risen by 10 percent while the number of fatal accidents involving men has dropped 32 percent.
Unfortunately, most of the increase is do the fact that women are driving more miles per year than they did in years past. When the numbers are examined and compared by miles driven per year, men still come out on top when it comes to accidents. Simply put, statistics show that men are more likely to speed, run red lights, drive aggressively and drink and drive. All of this leads to higher crash rates and higher insurance rates.
Look at the Numbers
Here is a quick look at some Insurance Institute for Highway Safety (IIHS) statistics that shine some light on why men tend to pay more for insurance:
- Men crash 12 percent more on weekends than women.
- More men are driving, about 93 percent of all men aged 16 and over drive versus just 85 percent of women.
- Men are driving 2.5 times more often when a fatal crash occurs.
- Men drivers are involved in rear-end accidents 30 percent more than women drivers.
- Women wear seatbelts 27 percent more often than men.
- Men get double the amount of DUIs that women get and are two times more likely to drive with a suspended license.
Despite the fact that all men are different and some are very careful drivers, insurance companies work on averages so even the most careful male driver is going to pay a higher premium.
How to Lower Your Rates
While the odds are not great that a male can ever reach the same premium levels as a female there are a few things men can do to help bring down those premium payments:
- Always wear a seat belt.
- Use turn signals and obey all traffic laws.
- Ask for safe driver discounts if you have earned them by keeping your record clean.
- Get older – statistics show that rates fall in line as men get older but you will have to wait until 55 to 64 to reap the most benefits.
- Never drink and drive.
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