Gender and Car Insurance

Car insurance rates are based on many factors, like demographics, driving record, and, believe it or not, gender. Generally, women pay less than men for auto insurance. Males between the ages of 16 and 25 pay the highest insurance rates of any age and gender group.

Keep reading to learn more about gender-based insurance rates and the ways you might be able to lower your rates.

Why Women Pay Less for Auto insurance

Statistically, women are safer drivers, and they tend to file claims for damages less often than men.

The reasons for these trends aren't perfectly documented, but statistical evidence shows men are more likely to:

  • Cause more accidents than women.
    • Accidents caused by men tend to be more severe and therefore more expensive for insurance companies to settle claims.
  • Drive under the influence of alcohol and/or drugs.
  • Enjoy informal racing.
  • Exceed the speed limit.
  • Drive aggressively.
  • Drive with too many passengers.
  • Not wear safety belts as often as women.
    • In one study's findings, 71 percent of drivers who were killed on the road were men.

Male drivers simply present a higher risk of filing auto insurance claims, so their rates are proportionately higher than their female counterparts.

Ways Men Can Reduce the Gender Gap in Premiums

On average, men pay about $15,000 more than women for auto insurance throughout their lifetimes.

However, all hope is not lost = as a man, you cna take steps to lower your car insurance rates! Take a look at the following tips for reducing your auto insurance rates:

  • Prove you're a safe driver.
    • 34 states and Canada offer phone apps to monitor your driving, helping you qualify for pay-as-you-drive-discounts.
  • Watch your speeed.
    • Plain and simple, speeding tickets raise insurance rates.
    • Keep in mind, reducing your speed increases gas mileage AND reduces wear and tear on your vehicle, which saves you evem more money!
  • Investigate rate-reducing options.
    • Find out what non-driving factors affect insurance rates in your state, such as credit score.
  • Raise your deductible to reduce yoru premiums
    • If you consider yourself to be a safe and defensive driver, you could save money on your premiums by raising yoru deductible.
  • Review your coverage.
    • You could save by eliminating unnecessary coverages (like collision and comprehensive on an older-model car). Over time, it's possible the cose of replacing an older vehicle isn't as high as paying for additional coverage.
  • NEVER drive under the influence.
    • This includes driving while using alcohol, drugs, prescription medications, AND certain over-the-counter products.