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The cat fight has reached car insurance premiums

Men and women have been two different species from the very beginning of the universe. There is very little chance of their mutual co-existence. This is due to their different mentality and physical built. Gender bias has been prevailing in the society from millions of years, may be from very beginning of life. Let me not take this too far and come to the point of today’s SupermarketCom news. Yeah I am talking about gender bias but not from social point of view. Now it has spread its wings to car insurance sector but in a completely new way. Women are not considered to be inferior or weak but fairer sex. Hence they are given more privileges than men.

Feminine nature of women here is associated with carefulness and more responsible. This makes them better drivers. It is true to some extent but the insurance companies have taken it as a fact. Moreover, men drive vehicles more often and to longer distances when compared to the fairer sex. Hence the risk factor involved in covering a car is more in case of men. Women are more likely to go for short distance journeys and that too at slower speeds. This overall reduces the risk factor involved in covering their cars. On the whole, this concept sounds fair to judge the risk involved in covering a gender, but you will realize why I called it gender bias as you read the figures.

Premium distribution can be called fair as long as it makes slight difference. But when the difference is as high as 18000 pounds, it cannot be neglected. A research shows that a man lands up paying 18000 pounds more than a woman in their lifetime. This figure is really drastic and wipes off all the claims insurance companies presents to prove this bias feasible. On an average the annual premium of a male driver is 743 pounds and for female it is 454 pounds. The range of difference in premium rates is too high and non-justifiable and is very aptly called gender bias by insurance companies.

Let’s have a closer look at it and try to find out the reason behind this approach adopted by car insurance companies. Every year government prepares reports on the data of last year highway accidents and burglary cases. This is very much like a survey to compile records.  And it came out with an amazing figure. 97% of motorists who met an accident because of rash driving were males. And 94% of the accidents were lethal and lead to death of one or the other party. Well this figure speaks for itself and somewhere supports the car insurance companies.

Anyways, for male motorists I have few piece of advice that can be helpful in coming up from this gender bias (justified):

  1. Drive safe
  2. Don’t drink and drive
  3. Avoid getting caught or tickets
  4. Use security measures like burglar alarm, air bags, air breaks, etc.
  5. Garage parking

There are lots more to come. Stay tuned to buy car insurance in a smart way.

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