Is is fair that car insurance should be cheaper for girls than for lads?

Answer 1

I dont think it is fair, I think it is discrimminatory. They would never be allowed to charge more to chinese people, even if they had stats saying they got into more accidents, so why can they apply the same principals to gender?

What other industry could you do this in? If I buy an extended warranty on a new LCD TV, they don't charge me more, because I am a male and thus statistically I watch more TV, so my TV is more likely to break.

Answer 2

When it comes to insurance, it's not really about what's fair. It's about the likelihood that you will be involved in an accident. Statistics show that men are more likely to be involved in a fatal accident than women. As to why, some say that men take more chances and are prone to drive more recklessly than women. But no one can tell for sure. It's the same for younger drivers. Drivers from the age of 15-24 make up 13% of drivers but cause 43% of accidents. What would be unfair is if those kids paid the same amount for insurance as a 30 year old soccer mom who's never even gotten a parking ticket.

Answer 3

You may as well ask 'Is it fair that 40 year olds should pay less for their car insurance than 17 year olds?"

Insurance companies have statistics on all claims and they know how much and how often a 17 year old male on average will cost them - and they know how much a 17 year old female will cost them. As the latter is substantially less than the former they know that they don't have to charge as much to cover the 'pure risk' element.

Insurance companies want to write business profitably so they endeavour to charge a premium based on expected cost and likelihood of a claim, administrative expenses, advertising/ commission expenses and in theory a reasonable profit. However due to the over-supply of motor insurance in the market at the moment no insurance company is actually making a profit! I am confientaly expecting a major consolidation/ buy out/ withdrawl from the market by a motor insurer in the next 12 - 18 months.

Answer 4

No its not. It should be the same for everyone for the first year and then once you have proved you are a safe driver it should come down.
If you have an accident you should have to pay for it. Not put it on all the guys who have a flawless driving record.
It should be done on a case by case basis,each individual is different, regardless of whats between their legs and a drunk woman is just as dangerous as a drunk man.

Its not like its even close, I pay about £1000 and have nearly 4 years noclaims, my girlfriend, just passed her test a few months ago is paying £400. How can that be right?

Answer 5

The price of car insurance has nothing to do with fairness. Its strictly market driven. Each insurance company is out to compete against the next insurance company for your business. In order to charge the lowest rates possible they study historical patterns for insurance risks based upon any number of factors including; gender, age, habits, medical histories, and historical driving records. Thus insurance is cheaper for girls because they drive fewer miles and have fewer accidents.

Answer 6

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Answer 7

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RE :Is is fair that car insurance should be cheaper for girls than for lads?
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Answer 8

Insurers gamble on not having to pay out when they take your premium. More lads than girls are involved in accidents - so because of that there is a greater likelihood that insurance companies will have to pay out if they insure lads.
Hence lads pay more because they are more likely to claim

Answer 9

Sorry, lad, but insurance is about averages , which is "fair", right? and more young guys on average wreck cars your age ( whatever that is, since you don't say but are complaining about it. ) I complained about it at your age, too, as I NEVER had ( or caused ) an accident in my teen years, but it didn't matter, the percentage of accidents of boys vs girls was higher for boys, so they pay more. Law of the land. Get used to it. Yup, it's "fair". - The Gremlin Guy -

Answer 10

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RE Is is fair that car insurance should be cheaper for girls than for lads?

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