It’s a sad fact of life but, wherever you look at television, the movies or magazines, men are made to look better at doing stuff than women. The only time this does not work is when there is money riding on the outcome. Suddenly, if there’s an extra buck to be made, you can guarantee the gender difference will suddenly come to the fore and be recognized for what it is. So, all the factual evidence collected by insurance companies shows that men drive more recklessly, have more accidents, and cause more damage in those accidents. On the other hand, women drive more slowly, are involved in fewer accidents and rarely cause as much damage because they are driving slowly. Insurance companies work in a simple way. They collect in premiums, pay out on claims and pocket the rest as profit. If they insure more women drivers than men, there are fewer claims for less money and so they make more profit. The question of the day is therefore: “How do you encourage women drivers to come to your company?” The answer is to offer discounts.
Statistically, women are way better drivers than men. They also drive less powerful vehicles and, as if by magic, buy vehicles less likely to be stolen. They also show themselves wise because they buy vehicles with safety features like antilock brakes and airbags. They also fit better lock and immobilizers to reduce the risk of theft. Put all this together and all insurance companies would prefer to insure women only. But, since men usually insist on driving, the insurance companies play an unfair game. They use the women drivers to subsidize the men. In all regular policies, the losses are shared among all the drivers who hold each policy. Although women will be given a discount, it will be less than the discount given for a women only policy.
Most insurance companies offer a women only policy, but you may have to look carefully through the websites to find them or ask the sales agents for details. Check through all the specialized car insurance quotes you get. Almost without exception, these policies are cheaper than the regular policies, but check out what is being offered. Some have specific features to make them more attractive to women, i.e. you will be charged for things men think you want. Stripping out all unwanted features can save you even more. Finally, most women are better money managers and have good credit scores. There are usually discounts for paying premium instalments on a quarterly or half-yearly basis. Insurers like to keep responsible and careful people on their books. They will keep offering you discounts to keep you loyal. Don’t just rely on the car insurance quotes you get through the standard searches. Always talk to the insurers to get the best deals.