Does gender affect insurance? Oct 6th
Back in 2012, the government passed a ruling to say that insurers were no longer allowed to charge different premiums based on whether the driver was a man or a woman. However, last year, the Telegraph reported on findings of leading finance academic Stephen McDonald, an economist from Newcastle University revealing that insurers are indirectly discriminating against men by basing premiums on a person’s occupation.
For that reason, we sat down with specialist insurance broker Insurance Revolution to discuss why people think that gender affects insurance, and how you can save money on your car insurance.
Difference in life expectancy and the likelihood of road accidents.
Over the years, various statistics have indicated that men have a higher chance of getting into a car accident than women for a range of reasons. This caused insurers to increase their premiums for male drivers and left many feeling as though they were paying over the odds for their cover.
But is gender still a factor when it comes to affecting insurance premiums? Many people think that a loophole in the law allows insurers to charge more based on a person’s occupation, and the more male dominated jobs incur higher premiums in the majority of cases.
Male dominated jobs include plasterers and civil engineers, whereas female dominated jobs include dental nurses and social workers. There are some jobs that are considered to be neutral, which include solicitors and leisure assistants.
Ways to decrease your insurance premiums
There are many ways that you can lower your insurance costs:
- Don’t go for the first quote you receive – shop around a bit.
- Don’t rely on price comparison sites
In fact, many fantastic insurance deals aren’t even on price comparison sites. For this reason, don’t just assume the cheapest one on there is the best deal you could find.
If you’ve been convicted of a driving offence, don’t be disheartened when your insurance premiums skyrocket. Instead, you should consider looking for convicted driver insurance that can help to provide you with the best protection for your vehicle, as your specific needs will be met, so it could also mean that you can save a bundle in the process too.
Top Tip: A good way to decrease your insurance premiums in the long term is by maintaining a good credit record. Establishing a solid credit history can slash your insurance costs, so pay your bills on time and don’t borrow more than you need.
And finally, select your vehicle carefully. If you’re driving a small, cheap runaround, its insurance will most likely be significantly lower than a classic boy-racer machine.
Oct 6th
Back in 2012, the government passed a ruling to say that insurers were no longer allowed to charge different premiums based on whether the driver was a man or a woman. However, last year, the Telegraph reported on findings of leading finance academic Stephen McDonald, an economist from Newcastle University revealing that insurers are indirectly discriminating against men by basing premiums on a person’s occupation.
For that reason, we sat down with specialist insurance broker Insurance Revolution to discuss why people think that gender affects insurance, and how you can save money on your car insurance.
Difference in life expectancy and the likelihood of road accidents.
Over the years, various statistics have indicated that men have a higher chance of getting into a car accident than women for a range of reasons. This caused insurers to increase their premiums for male drivers and left many feeling as though they were paying over the odds for their cover.
But is gender still a factor when it comes to affecting insurance premiums? Many people think that a loophole in the law allows insurers to charge more based on a person’s occupation, and the more male dominated jobs incur higher premiums in the majority of cases.
Male dominated jobs include plasterers and civil engineers, whereas female dominated jobs include dental nurses and social workers. There are some jobs that are considered to be neutral, which include solicitors and leisure assistants.
Ways to decrease your insurance premiums
There are many ways that you can lower your insurance costs:
- Don’t go for the first quote you receive – shop around a bit.
- Don’t rely on price comparison sites
In fact, many fantastic insurance deals aren’t even on price comparison sites. For this reason, don’t just assume the cheapest one on there is the best deal you could find.
If you’ve been convicted of a driving offence, don’t be disheartened when your insurance premiums skyrocket. Instead, you should consider looking for convicted driver insurance that can help to provide you with the best protection for your vehicle, as your specific needs will be met, so it could also mean that you can save a bundle in the process too.
Top Tip: A good way to decrease your insurance premiums in the long term is by maintaining a good credit record. Establishing a solid credit history can slash your insurance costs, so pay your bills on time and don’t borrow more than you need.
And finally, select your vehicle carefully. If you’re driving a small, cheap runaround, its insurance will most likely be significantly lower than a classic boy-racer machine.
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