Why do women get lower Auto insurance rates?

Why do women get lower Auto insurance rates?

Why do women get lower auto insurance rates I am a 23y/o male and pay the same rate as a 20 y/o female and I have a clean record. I found that it is roughly 15-20% for the opposite sex, and even women with violations can still manage to have a lower rate than men who have clean records. Is there any real reason behind this or just another way Auto insurance companies like to take our money.


In PA, men generally pay more because our accident rates are higher than women. There are other factors that determine your specific rate- different insurers charge drastically different rates. The model of vehicle is a strong influence- I pay more for my Subaru than I did for my old Saturn, largely because the Subaru has about twice the horsepower.


because women are thought to be less risk takers.


They don't EVERYWHERE - in MA, for example, women and men pay the same for auto insurance, just like they pay the same for life insurance, even though men are more likely to die sooner. Gender basis for rates vary by states. MA prohibits having different rates based on gender.In states that DO allow different rates based on gender, it's because they've found a corrolation between claims payout and gender - just like they charge more for 16 year old drivers, and just like they charge more for someone with 2 DUI's.It's all about the numbers. If there wasn't a corrolation, the states' insurance departments wouldn't allow the rate difference.Source(s):agent, 21+ years, previously licensed in MA


it is calculated based on dollar amounts of losses for any one group, not violations of the like.


Insurance is a business of acturarial statistics.Women "Statistically" have fewer claims than men.Thereore, They are a Better risk than men...which in turn results in better rates.Source(s):Agent-37 years


Statistically, young males have the most accidents and are the biggest risk takers. Insurance is based on risk. The more potential you have to be in an accident, the higher your rates. Other factors that are used to calculate your rate can include: your type of vehicle (age, safety features, cost), driving record, credit score, and theft rates in your area.


I had a long discussion with this over the phone with my ins. agent the other day. I was pissed because my boyfriend is 23 (two years younger than I am) and he pays less for insurance than I do and his truck is valued at more than my car. My agent explained that your gender and your age have nothing to do with what you pay for your car insurance. You pay based on the type of car you have (and how likely it is to get stolen or the availability of parts for it) and the length of time you've been licensed. Maybe it's different in other states, but that's how it works in Massachusetts. I was confused because of all the things I had heard from my friends on the subject. Well, none of my friends are insurance agents! Fact of the matter, any questions you have about your car insurance should be directed at your insurance agent.... that's why you pay them!!!



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