Car insurance more expensive for men, says moneysupermarket.com
www.moneynews.co.uk > Insurance > Car insurance more expensive for men, says moneysupermarket.com
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Money News |
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Car insurance more expensive for men, says moneysupermarket.com
Mon 9th Nov 2009
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After analysing six million insurance quotes between June 2008 and June 2009, the website found that, on average, men pay £885.86 a year for motor coverage, compared to the £517.37 paid by women.
Steve Sweeny, head of motor insurance at the website, said historically, men have had to pay a higher premium than women, who many companies consider them as being safer and more mature motorists.
The largest discrepancy came for the under-20s, a category perceived by insurers to be high-risk, with 18 year old men paying £2,318.83, which is almost double the £1,237.33 paid by young women.
"It is a shame that motor insurance premiums are based on age rather than experience," commented Mr Sweeney.
He added young men can get more competitive insurance by shopping around for the best deal or looking at insurers who specifically target younger drivers.
The price comparison site revealed earlier this year that as many as one in five cars on British roads could be uninsured.
Click here for more insurance news
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