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Why women will be facing higher car insurance premiums

It has always been fact that men face higher car insurance premiums that women up until the age of 40 and this is as a result of men statistically having more accidents and claiming more money on their insurance. The typical insurance claim usually adds up to around £4,500 for a young male where as a female typical insurance claim is £1,200. You can see why the insurance companies charge more to insure men, however this is all changing.

From the 21st of December 2012 the insurance companies will be banned from taking into account the gender of the person who they're insuring which will mean that women will have to foot the bill. But will this mean that insurance premiums for men will come down slightly and women's will rise to cut the difference is half? Or will the insurance companies take advantage of this and just raise women's insurance premiums up to the same as mens? Only time will tell.

The European Court of Justice (ECJ) have ruled that there will be no more gender inequality when it comes to car insurance and the rise that women could be facing is up to 25% more! The average car insurance quote for a young woman is around £2,621 in the north, one year ago it was £2,447, which is a 7.1% increase in a women's insurance premium. Increase that insurance premium by 25% and it's a huge £3,276 which is what women all over the UK can expect.

Women who may run her own driving schools Sheffield may also see an increase in her insurance costs which may be reflected in the price of driving lessons, although experienced drivers who have passed advanced driving tests usually have fairly low insurance premiums anyway.

It may not only be driving schools in Sheffield that are affected by the rise, any service needing an insured vehicle may increase to cover the cost. The ECJ has also abolished taking gender into consideration when getting life insurance quotes which means again the premiums for women will rise.

Although the rise of car insurance premiums and other insurance for women does seem 'fair', all the statistics say that men should have higher insurance premiums so what should we listen too? The morals of fairness and equality between genders, or fact. The ECJ have ruled for equality between genders is fair and the right thing to do, although many people have their own views on the matter. What do you think?

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