Car Insurance Rates: Men vs. Women
It is a well known fact that men pay higher car insurance rates than women. However, what is not so well known is the reasons why men pay higher car insurance rates. Many people tend to believe it is simply because men usually drive much faster than women that there is such disparity in the rates. While this is true to a certain degree, there are other reasons as well.
Why Men Pay More than Women
Many statistics show that men and women have about an equal number of car accidents every year; however, the types of accidents vary considerably. While women tend to be involved in many minor traffic accidents, men seem to be doing a much better job of causing a great deal of damage to vehicles. This is because men are usually much more aggressive drivers and drive at much higher rates of speed. So, because insurance companies pay out much smaller claims for the minor dings that are often associated with many women's fender benders, men suffer higher insurance premiums because of crash damage that tends to cost a lot more to repair
Many studies also suggest that men are involved in more than 85% of all serious traffic infractions and violations. Men are much more likely to be charged with DUI, DWI or reckless driving. So, all men pay the costs for those that engage in this type of reckless driving conduct. Because of the differences in the way that men and women drive, women will generally pay about 10% lower costs for car insurance than men.