Women have some of the most dynamic rates when it comes to insurance premiums. Several female motorists get rates determined by their age, occupation, and other factors. Also, there’s a consensus that could cost a lot more than their male counterparts.
But not anymore!
Cheap car insurance for ladies could be tricky to find without access to the correct facts. That’s why it’s essential to make the most of crucial info before settling for a particular auto cover deal.
And with several policy providers making a thing of gender-themed policies, you should have access to smarter deals. Better insurance policies are out there that cost lesser than you think. So, if you need cheap ladies car insurance, here’s the piece you’ve been waiting for!
With access to these facts, cheaper car insurance for ladies becomes more natural to attain.
How Much Women Pay for Car Insurance
There’re several factors put into consideration when computing car insurance for women. Even if factors vary from state to state,
|Annual Average Insurance Rates|
|18 – 21||$4,100+||$3,500+|
|22 – 25||$2,900+||$2,700+|
|26 – 30||$2,500+||$2,500+|
|31 – 35||$2,400+||$2,600+|
|36 – 45||$2,500+||$2,600+|
|46 – 55||$2,400+||$2,400+|
A close look at the above table reveals the dynamic effect age and gender has on calculating average premium rates. Younger females usually pay more for auto insurance. And the figure continues winding down with age.
Also, you’ll see that several age brackets have similar price ranges when it comes to rates across gender. Finally, older female drivers within their 40s – 60s pay a lot less than any other age bracket.
|Annual average for 40yr old female with estimated price difference from male drivers|
|Annual average rate for 40yr female driver’s policy||Cost above 40yr male driver’s policy|
|Good motorist with good credit||$1,700+||$40+|
|Recent at-fault driver||$2,600+||$50+|
|Good motorist with bad credit||$3,000+||$80+|
|Drivers with low mileage||$1,550+||$40+|
|Good driver with good credit||$700+||$30+|
Why is Gender a Rating Factor?
Statistically, more male drivers file for claims than women. Science proves that there’s a direct association between gender, magnitude, and insurance claim frequency. Hence, insurers take gender into account for drawing up premium rates.
Even though few states have outlawed the gender rating factor, insurers in over forty states still rely on this data.