Do Female Drivers Get Lower Car Insurance Rate?
Reader’s Question:
Is it true that insurance companies consider the gender of the person applying for a policy before they decide for the insurance rate? If I apply for an auto insurance here in Palm Beach, Florida, will I have lower rates as a woman compared to those of the men?
Kalista
Palm Beach, FL
Yes, most of the larger insurance companies consider the gender of the person applying for a policy before they decide for the insurance rate. Based on statistics, the gender of a regular motorist could tell them a lot about how they drive their car and some other factors that have been found out after thorough studies.
As a woman, if you apply for an auto insurance in Palm Beach, Florida and if you’re between 18 and 25 yrs old, you’re premium rates will be lower than those of males with the same age and other same exact factors. The insurance providers found out that female motorists don’t have as many car crashes, speeding tickets, or other sort of traffic offense as a male in the same age range. Those who are outside the insurance industry believe that the differences in gender are only viable for young drivers, but that’s not the case. Gender could affect the insurance rates of motorists, young and old so long as the insurance providers use their brand of profiling to be able to find out how much their auto insurance premium rates would be.
Comments are closed.