In most circumstances, males pay more for car insurance than females. Why? Could it be because when couples commute by automobile, the male is usually the one to drive? Is it because in many circumstances men commute to work and women stay home (although not as common these days), therefore, increasing their probability of being involved in an accident?
The fact is that statistics show that the higher percentage of people who are involved in an accident are men. That may sound surprising since there are actually more women than there are men in the United States. The sex ratio is said to be 105 girls to every 100 guys. Are guys worse drivers than gals? Not likely!
Car insurance companies use statistics to base their premium rates. The gender that statistical information indicates to be a higher risk will be the one who will probably pay more for coverage. Insurers study data from accident records and use the information to raise rates for those with a high probability of loss and lower those having characteristics of a lower risk.
Not only is sex a factor in determining a driver’s rate, but also many other factors such as age, marital status, length of time licensed and even accident and violation history. Besides driver factors, other things that have an impact on premiums include vehicles, coverage, and even where one resides. It all works the same way; for example, if one lives in a city with a high accident history, they will be considered a higher risk to insurers and can expect to pay a bit more to be insured.
Males don’t have to worry about paying more, the difference is really insignificant. We’re talking a few dollars more per month. There are more important things to worry about such as being insured by a company who is charging more than would be considered competitive.
The way to find the least expensive rates is to compare car insurance from multiple carriers to see who will insure for less. What many don’t realize is that there isn’t such thing as the “cheapest” company for everyone. Each person has to find the one who will offer them specifically, the lowest premiums.
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