AA Insurance: Young men pay twice as much as women for car cover

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AA Insurance: Young men pay twice as much as women for car cover

Fri 26th Sep 2008

Young men's first annual insurance premium is generally twice that of the female equivalent, new figures from AA Insurance have found.

The research found that while young men's insurance premiums have been increasing over recent years, women's have been falling, with the gap widening by 59 per cent since 2003.

Simon Douglas, director of AA Insurance, cited Department for Transport figures that show men under 21 are ten times more likely to have an accident than men aged 35 or over.

But young women are only five times more likely to have an accident than women aged 35 or older.

But he added: "Regardless of gender, premiums quickly fall for drivers who remain accident blame-free and don't collect driving offences."

Tesco recently stressed the importance of informing insurers if a car has been modified.

It warned that undeclared alterations might invalidate a policy.

Even relatively simple changes might make a car more attractive to thieves and therefore need to be checked with the insurance provider to ensure the proper cover is obtained.

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