Older female drivers pay more for car insurance than their male counterparts, according to a recent study conducted by Which?
All five of the big name providers were found to charge more for a 60-year-old woman than for a 60-year-old man, even when all their particulars were identical. The quotes varied from a one per cent increase for the female quote from Privilege, to an increase of 28 per cent from Admiral . A spokesman for Admiral Insurance pointed out that while women believe they pay less for insurance, as they get older, the reverse is true.
Insurance expert Dan Moore said: “Gender is one of the factors that has an influence on the premium we offer. The difference is correct based on our estimates of the level of risk the two customers would represent to us as an insurer . Younger women are generally quoted a lower premium than men, because they have fewer expensive crashes, but this changes as motorists get older. However, as our results show, the differences can be marginal or significant, so shop around.’’