Car Insurance: Why Men Received Higher Premiums Than Women?
If you are a female, you get more advantage in taking out car insurance than male counterparts. So, what’s the ground for such inequality? The answer is all in the statistics. It has been made known that women are safe drivers than men. The number of road accidents involving men is staggering - men tend to drive without seatbelts and spend more time on the road which favors accidents. Also, male (especially the young ones) are found to be more aggressive and reckless and are more likely to die from fatal car accidents. Insurance companies do not want to give a run for your money, or go bankrupt in giving you huge financial costs should an accident occur. This answers the question as to why companies charge higher premium rates to men than women to keep this risk lower.
In countries, like the United States, wherein every driver must have with them a sort of car insurance, the discrimination on gender when it comes to getting insured is clearly evident. But wait. This does not mean that (you are a male) you don’t get cheap car insurance rates or some typical discounts from insurance companies. There are still other factors these firms do think about. For example, drivers who have not been involved in any collision, and those living in low-risk area can demand for discounts – regardless your gender and age. Also, when you are seeking for car insurance at the same time life insurance, look for companies which offer multi-line policy. In this manner, you will get great reduction in cost. Furthermore, if you purchase car insurance for your carpooling services or if you are a commuter, it would be more prudent to avail the low mileage policy. Low mileage is the cheapest auto insurance you can obtain if you drive not more than 4,000 miles a year. Experts advised consumers to shop around at least once a year for cheaper and better quotes.
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