Despite women getting paid less than men in the United States, there are some benefits for being a woman, particularly when it comes to car insurance! Most insurers charge women less for car insurance. Many people would be curious as to why, so here are some reasons why women get cheaper car insurance.
Men Choose Faster and Riskier Cars
Men are more inclined to choose a car that is faster than a car that has the best safety features. The faster the car is, the more likely it is that the driver will be involved in a crash. Fast cars can be harder to control and fast sports cars are more likely to be stolen. The drivers of these cars are more likely to be involved in risky activity like speeding or drag racing.
Men Crash More
Despite what some chauvinistic males suggest, men crash cars more than women. They are more likely to speed than a woman and more likely to drink drive. Even though only 11% of the adult population is made up of males between the ages of 21 and 34, they are responsible for 32% of all drunk driving episodes (http://www.drunkdrivingstats.org/menversuswomendrunkdrivingstatistics.html). Men are also more likely to speed, increasing their crash risk substantially.
Men are more likely to be involved in other forms of risky driver behaviour as well. They are more likely to drive like hoons, brake quickly and are more likely to be involved in road rage events.
Men Are Fined More
Men are more likely to be ticketed for speeding offences than women. As a result of this, their insurance premiums will be higher.
Women Drive Less
Statistically, women are less likely to be in the drivers seat and they spend less hours per week driving. The less time spent driving, the less risk of a crash.
Women Buy Cheaper Cars
Men are more likely to spend substantial amounts of money on an expensive car. Generally, the more expensive the car, the more expensive the insurance costs.
The statistics are very compelling. According to the DMV:
- 71% of all car accident-related deaths in 2012 were male.
- Men are 50% more likely to die in a car crash (2008 figures)
- Men drive under the influence of alcohol more often. In 2012, 38% of fatally injured male drivers had BACs of over 0.08%, compared to 20% of fatally injured female drivers.
- Women are more likely to use seat belts. 88% compared to 84% for males
- For all fatal accidents, 23% of males were speeding at the time of the accident. 14% of females were speeding (2012 figures).
It is estimated that men pay as much as $15’000 more for insurance over their lifetimes, so this is a substantial difference!
What Can Be Done?
There are many ways for men to lower their car insurance premiums.