Do women pay more for car insurance than men?

Do women pay more for car insurance than men?

August 17, 2016
women pay more for car insurance
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One of the oldest and most common myths out there is that women pay more for car insurance than men. It’s used by men who want to prove to their wives that they’re the better drivers. And it’s also used by women who want to show that they’re not treated equally when it comes to insurance. But the truth is this myth is false.

Women actually pay less for car insurance than men. Does it surprise you? It shouldn’t. And you’ll find out why in the paragraphs below.

How do auto insurance companies determine risk?

It’s probably no secret that car insurance companies base their rates on risk. So, if they consider that you are likely to be involved in an accident and file a claim, they will charge you more. When calculating this risk, they look at many factors, such as:

  • The make, model and age of your vehicle;
  • Your driving record;
  • Your age;
  • Your credit history;
  • Your gender.

Why do women pay less for car insurance?

The answer to this question is: because they have better results for all those categories listed above. Women tend to buy safer and cheaper cars, instead of the fast sports cars that cost you an arm and a leg. They are also more prudent drivers and they don’t commit as many moving violations as men. If that’s not enough, women also drive less miles than men do. Thus, the chances of them being involved in accidents is lower.

For the reasons above, car insurance for women is typically cheaper than it is for men. It’s all statistics. And, as we all know, you can’t argue with statistics.

Still not convinced? Take a look at the numbers

The Insurance Institute of Highway Safety has released some some information to explain why gender is an important factor when calculating rates. According to the data:

  • In 2012, 71% of all car accident-related deaths were males.
  • In 2008, the number of drivers who died in fatal car accidents was 50% higher for men than women.
  • Men are much more likely to commit a fatal accident while under the influence. In 2012, 38% of fatally injured male drivers had BACs of over 0.08%, as compared to 20% of fatally injured female drivers.
  • 88% of all female front seat occupants use seat belts, as compared to 84% for men.
  • In 2012, 23% of male drivers involved in fatal accidents were speeding at the time of the accident. Only 14% of women involved in fatal crashes during the same period were doing the same.

What should men do?

Men shouldn’t get upset because they’re paying higher premiums than women. Like I said before, it’s all statistics. And you can fight that. But what you can do is shop around. There’s no better way to find the best rates for you. Also, don’t forget to keep a clean driving record. A man with a great driving record will pay less than woman with a poor one.


Thomas Hookton is a finance journalist, history buff and science fiction connoisseur. Hit him up via email.

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