Car Insurance – Women Car Insurance

Even if you’re a safe driver and have never been in an accident, state and federal laws require all U.S. drivers to purchase and maintain auto insurance whenever they are driving. If you do happen to get into an accident, having an insurance policy may be the only thing that keeps you from financial ruin. For these reasons it is critical that anyone who will be driving have current insurance. However, these days, given the way the economy is going, and how the job market looks, with rising unemployment, lower wages, fewer hours at work, etc, people everywhere are looking for ways to lower their expenses and save money any way they can. Luckily, car insurance for women is cheaper than it is for men, and these discounts are getting even bigger. How come women car insurance is cheaper?

Women Car Insurance

First off, this hasn’t always been the case. Due to the ways auto insurance is calculated shifting over time, previously men, long considered to be safer drivers than women, probably through some misogynistic or macho perception, paid less for their car insurance policies than women did. More recently, however, this trend has completely reversed, with women now enjoying the benefits of being safer drivers. A study by scientists at Carnegie Mellon University revealed that the popular misconception about the superiority of male drivers compared to female drivers was just that – a misconception, and insurance companies have begun to take advantage and market directly to women drivers. More male drivers than women have had moving violations on their record, and the study revealed men have more citations per driver than women. When they do get into accidents, men cause more fatalities than women.

Calculating Car Insurance Costs for Women

Women drivers fit into an interesting place within the risk profiles of insurance companies, one that works to their advantage. Statistically, women are better drivers than men, since they get into fewer accidents, and the accidents they get into are less costly than those of men drivers. The generally accepted reason for this is that women statistically drive slower than men, and so they are less likely to get into an accident, and less likely to cause expensive damage when they do. Young men are by far the riskiest of drivers, and it shows in their car insurance rates. The best part about turning 25, besides being able to run for Congress, is that your auto insurance premiums go down as you “age out” of being a “young” driver.

Car insurance companies use complicated algorithms to determine prices for each individual customer. They do this because they’re in the business of assessing risk and figuring out the right price to charge to assume that risk. They do this by taking in lots of information about each individual person and assembling a risk profile, which they use to price their auto insurance policy. They take into account age, gender, driving record, education, car make and model, credit rating, and many other pieces of information. Your car insurance premium is based on all these factors, and can and will change as they do over your driving career. Essentially, there are a whole bunch of statistics that these companies use to generalize with and slot each driver into. It may seem unfair, but these algorithms allow insurance companies to properly figure out just how risky it is to insure drivers, and many people find out they have discounts on their policies that they never even expected to receive.

Women drivers can further lower their car insurance costs by getting more and more discounts applied to their account. There are also many tips that can help save some money as well.

1. Compare car insurance quotes when shopping from multiple providers. Sometimes the same company you’ve been with all along isn’t giving you the best deal, and with the advent of the internet, shopping around for the best deal on auto insurance is not only doable, it’s much easier than before. To get quotes from each one, you’ll have to shop around and apply to each, and while this process may take an hour or so, the amount you can save could be huge.

2. Once you have an insurance policy, get to know your local insurance agent. They may be assisting you during a claim, if you should make one, and they can be on the lookout for discounts that may come your way.

3. Don’t splurge on a fancy and expensive sports car. The make and model of your car has a definite effect on how much you pay for insurance. The speedier the car, the more likely you are to be pulled over and get tickets, which raise your insurance premiums over the long run.

4. Once you’ve chosen an insurance provider, see if you can consolidate your life, home, and auto insurance policies all together. Many national insurance companies give discounts to customers to buy all their insurance from them.

5. If you’re a student, keep your grades up! Strange as it may seem, good students get discounts on car insurance, due to being a lower insurance and driving risk.

Car insurance is a necessary undertaking for all American drivers. Since you need to have it active all the time, it’s definitely worth shopping around in order to see how you can get the best deal. Car insurance for women is cheaper, which is a nifty little benefit for statistically being a safer driver.

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