Car Insurance Gender Gap is Now Over

Car Insurance Gender GapThere has been a lot of discussion regarding the EU ruling of gender discrimination when it comes to calculating car insurance premiums. Lately, a certain car insurance comparison site has questioned the overall impact of this ruling. This is due to the fact that car insurance premiums will start to look steeper for women, as compared to men. With the EU ruling being set in December 21, 2012; women can expect their next Christmas to be an expensive one.

In relation with this ruling, the car insurance comparison site has gathered all data regarding insurance pricing for women. With data gathered from two years ago, the comparison site doubts that women will just be slightly affected by the EU ruling.

The research that they have gone ahead with suggests that young female drivers getting cheap car insurance quotes will now be a thing of the past. In lieu with their research, they have analyzed profiles of a male and female driver, both at 20-years old. According to their research, the pricing gap between men and women is gradually closing.

Upon data analysis, it can be seen that a 20-year old driver is no longer expected to pay a considerable amount on their car insurance premium as compared to a female counterpart. During the first half of 2010, the difference between male and female insurance pricing was at 16%. And, by the last half of 2011, the difference between the two was only at 2%. This simply shows that the gap between car insurance calculations is now almost equal. Interestingly, it can also be seen that the majority of this gap was simply due to the gender pricing that car insurance companies used to follow

Another research seems to reinforce the initial results that have been revealed here. This is because of the year-after-year inflation that affects both male drivers and female drivers. However, whereas male drivers would be experiencing an increase of about 14 %, female drivers would be experiencing an increase of up to 24 %.

Based on what a car insurance expert said at the car insurance comparison site, “There have been a lot of debates and discussions when it comes to the EU ruling. Due to this ruling, cheap car insurance premiums for female drivers are finally put to an end. After analyzing thousands of driver profiles and car insurance quotes, our research seems to suggest that the gender pricing gap regarding car insurance payments is over.”

 

 
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