Car Insurance Set to Increase for Women

The cost of car insurance for women is set for an increase as the EU gender directive will make it illegal for insurers to discriminate on the grounds of sex.

Car insurance for women has been less for women over many years due to being responsible for fewer accidents and claims than men. However on the 21st December the law will change.

Research by uSwitch.com has found that the increase in female motor insurance policies means 13% won’t be able to afford the insurance and 11% may have to sell their cars.

It also showed that 66% of men believe that it’s about time and an end to unfair discrimination where as just 18% of women think the new ruling is fair.

Michael Ossei, personal finance expert at uSwitch.com says, “Statistically more likely to claim, men have grown used to paying hefty motor insurance premiums, but this is all set to change. From next month men will no longer be penalised for their ‘boy racer’ reputation and will be charged the same as women. For the first time ever, men and women will be driving on a level playing field.

“While millions of male drivers will be celebrating cheaper premiums, female drivers need to brace themselves for significant price rises. It’s more important than ever that they shop around to find the best deal at renewal time – with over 100 providers on the market, there is a big difference between the cheapest and the most expensive quote. A little bit of research will go a long way towards limiting the financial impact of this judgement and not being forced off the road due to cost.”

So who’s right? Should women and men be treated as equals when it comes to car insurance?