Traditionally, car insurance for women has been cheaper than car insurance for men.
This is because women have fewer accidents and make fewer car insurance claims, so insurers can reward them with lower premiums.
However, from 21st December 2012, a new European ruling comes into force which means that insurers won’t be able to use someone’s sex as a way of determining how big a risk they represent.
The cost of car insurance for women is set to go up. Image by stormwarning via Flickr
This is bad news for women drivers, who will almost certainly see the cost of their insurance go up.
The Association of British Insurers estimates that there will be a 20% increase in the cost of car insurance for women, while men will see their premiums drop by about 10%. Women under 25 are likely to be hit by the highest increases in their premiums.
There’s plenty of debate over whether this is fair or not, but the important thing to remember is that the ruling does not mean the end for cheap car insurance for women. What it does mean is that it’s more important than ever for women to be informed about car insurance and compare prices to get a great deal.
*60% of car insurance customers could save up to £200 (Consumer Intelligence data, December 2011)
For tips and advice on getting the cheapest car insurance read: