It's not fair, if a 19 year old girl and guy both just get their drivers license's and buy a car the guy will pay double than what the girl pays for insurance.
2006-07-30 16:08:48 · 13 answers · asked by googlebball 3 in Business & Finance ➔ Insurance
Something based on FACT is not sexist!
You could say the same about age discrimination since younger drivers pay more.
Of course, with life insurance, women pay less.
Now, if you paid more because your hair was red, THEN you would have a valid point...unless the company can PROVE that red-haired people are worst drivers...good luck with that, but I suppose it is possible. They do apply color to cars and rate them on that however!
2006-07-31 02:02:16 · answer #1 · answered by dm_dragons 5 · 4⤊ 4⤋
The rates are based on past experience for the gender, age, location, type of car, and other factors. Young men tend to drive faster and more aggressively so as a group they cause more accidents and worse accidents. There is something somewhat unfair about this though because a particular young man who may be a very careful driver, unlikely to cause an accident, is punished with higher rates because of the group the insurance company places him in. Maybe someday we will have more individualized insurance that takes other factors into account.
2006-07-30 23:22:07 · answer #2 · answered by frugernity 6 · 0⤊ 0⤋
Only in some states - Massachusetts, for instance, doesn't allow gender to figure into insurance rates - which means that women pay the same rates for life insurance as men, even though women live longer. But isn't it unfair that a healthy person pays less for life insurance than someone who's morbidly obese?
Same kinda thing - insurance companies lump people in "like risk categories" together, to give them a rate that reflects their likelihood of having a claim.
2006-07-31 09:45:48 · answer #3 · answered by Anonymous 7 · 0⤊ 0⤋
No. Insurance rates are based on statistics. Statistically, 19 YO girls have far fewer accidents than 19 YO boys. Rates drop considerably for men when they are 25 because stastically men over 25 have fewer accidents and the rates then become comparable to women's.
2006-07-30 23:13:47 · answer #4 · answered by keyz 4 · 0⤊ 0⤋
The insurance company very likely has statistics showing that girls get into fewer accidents than boys. I think we could solve the problem by not giving licences to people under 25. Think how insurance rates and traffic would drop. It would be great.
2006-07-30 23:14:51 · answer #5 · answered by Ace Librarian 7 · 0⤊ 0⤋
Historically females have been safer drivers. Modern women have changed and are almost matching men for bad driving. So in the near future premiums will adjust accordingly
2006-07-30 23:13:50 · answer #6 · answered by M D 3 · 0⤊ 0⤋
That is not always true. I became a widow at the age of 46 and my car insurance went up because I became a single female. Go figure....
2006-07-31 02:51:59 · answer #7 · answered by Scooter 1 · 0⤊ 0⤋
Nope, not sexist at all...it's realistic. Young men are far more aggressive and it shows in their driving. Statistically, this leads to more accidents. There is no anti-discrimination requirement for insurance companies - they charge those who cost more, or are likely to cost more - more money.
2006-07-30 23:12:56 · answer #8 · answered by oldmoose2 4 · 0⤊ 0⤋
Really? I thought it would be female drivers who will get higher rate. After all, they are less confident in driving than men are.
2006-07-31 02:25:10 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Girls have just about as many wrecks these days, but their wrecks are little fender-benders. Boys have full-out, high-speed flaming guts and glory wrecks that total at least one or two cars and sometimes even kill people.
2006-07-31 08:39:39 · answer #10 · answered by ? 2 · 0⤊ 0⤋