Reader’s Question:

Hi there, I would just like to confirm some rumors I heard that auto insurance policies are cheaper for female drivers? If it’s true, would you know why that is?

Luke

Seattle, WA

The female population in general do get cheaper auto insurance policies than the males of our species. Auto insurers site that statistics show females less likely to be in a driving accident than males. Not only that, the damage done by a female driver also tends to be lesser than that of a male driver. Due to these findings, they are a bit kinder to females when coming up with auto insurance policies as they pose less risk of the auto insurance companies having to shell out money to cover the costs of auto insurance claims.

This being said, it is important to note that it is not only gender that affects the auto insurance policies and the rate of premiums. Other factors that affect the premiums are age, driving history, claims history, vehicle make and model, vehicle safety ratings, and credit history, among others. In general, being younger than 21, having tickets, making claims on auto insurance policies, buying more expensive vehicles, and having bad credit history will negatively affect the premiums that you pay.

It is highly recommended that the insured review their auto insurance policies annually and compare rates from different auto insurance providers to ensure that they find the most competitive deals.