Is car insurance for a woman cheaper?

The simple answer to this question is, in a lot of cases – Yes! It has been statistically proven that women drivers cost insurance companies less in claims. It is not that they have less accidents, but the accidents that females do have cost less than those that males have. For this reason insurance companies favor them and in some scenarios the degree to which they favor them is astronomical.

For example, a seventeen year old looking to insure their first car can find it hard enough, but a seventeen year old male would find it an awful lot more expensive than his twin sister. During some recent research that we have carried out we found that a seventeen year old male, insuring a group 3 car with fully comprehensive cover can expect to pay a staggering 46% more than a lady driver for exactly the same insurance.

This is looking at a very extreme example in terms of age and degree of driving experience and it is fair to say that the difference in premiums between males and lady drivers does decrease with age, but let’s also bear in mind that the quotes in this test were based on a vehicle with a 1.1 engine that is an insurance group three out of a scale of one to twenty!

Such is the desirability of lady drivers that companies try, in their marketing campaigns, to specifically attract female drivers. The Admiral Group are probably the champions at this, having created a women only insurance company called Diamond, who only insure female policyholders. However, they will now allow male drivers to be added to a female’s policy!

Lot’s of other insurance companies and intermediaries are trying to jump upon this bandwagon by creating their own female only companies or brands and you will come across various websites that are simply re-badged versions of the same providers websites. It’s not just these companies though that are offering cheaper premiums to woman drivers, quite a few of the household names in this industry will offer “lady driver discounts” on their standard insurance policies, maybe 5 or 10% and others will develop lady driver only products, just as they might for older drivers etc, that will make up a suite of products that are available directly to customers or via an intermediary network.