Before 2011, car insurance premium rates for women were significantly lower than that of men. For the insurers, provision of insurance to women was less risky as women as conscientious drivers unlike men. As per the records and statistics, far fewer women were convicted in car accident and property damage cases vis-à-vis men. That meant, it would be a lesser headache for insurers to provide car insurance for women, compared to men.
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All that changed however, as recent government rulings mandate that gender be not considered as a factor in a perceived “discriminatory” pricing of premiums. That resulted in price rise in the amount of car insurance premiums paid for by women, by around 30%.
Does that mean auto insurance is no longer inexpensive for women?
Not necessarily. Gender is not just the only criteria for premium rate calculation. Insurance companies have typically around 50 factors that are taken into account while calculating premium rates.
So if you are below 25 years of age, have a poor credit score, temporary job, or your car model is expensive, expect your premium rates to go up! By knowing these factors, you can make sure that you choose the best car model, that is not only affordable, but also whose car parts are easily available. Also, if your credit score is good, or if you pay your dues on time, you can improve your ratings and avail lower insurance premiums.
Make a commitment to drive responsibly. You should not have driving tickets, or fines levied, as they are recorded in your driving history.
To qualify for women car insurance, you should also settle for a long term job, as that will give a good impression for improved credit rating. Which insurer would want to insure a person, who isn't trusted when it comes to premium payment?
Also, if you have a good college or high school education record, that also is great plus , as insurers assume that good grades means discipline and accountability. These qualities are conducive for careful and conscientious driving.
You might also want to have a safety Driving class. Many insurers consider the scores you obtain, and they use these scores to gauge insured’s risk measure. Having good score and good remarks, means higher the chances of getting lower insurance premiums.
Lastly, it should be known that less than 25 years age category insured persons usually pay more in premiums than the older age category. Also married persons also have the benefit of lower premiums as young parents are careful in driving, when they are with their children in a car.
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