Why Gender Affects Car Insurance Quotes

Most drivers try to spin their driving history or risk profile to get better rates. Sometimes they avoid filing claims to avoid affecting their auto insurance rates, or they may underestimate the number of miles they drive annually. Some risk factors are easier to manipulate, like your driving history, however, others can’t be changed to yield a better auto insurance quote. Two of these are gender and age.

Car insurance companies base all of their policy rates on complex calculations involving statistical probability, and numbers have shown that gender and age play an important role in determining your risk to an auto insurance company’s profits. Auto insurance companies, as well as health insurance and life insurance companies, regularly charge more for males versus females.

Similarly, senior citizens and mature drivers have cheaper car insurance than teenagers and young drivers under the age of 25. Nonetheless, it is still possible to find the best, affordable car insurance quotes for drivers.

Why Car Insurance Companies Adjust Premiums Based On Gender

Insurance companies use complex actuarial tables to analyze the statistical risk associated with every policyholder based on their driving history, gender, age, location, vehicle type, make and model, among other factors. These tables hold an enormous amount of statistical information, and help an insurer determine the chances that a certain driver will make a claim.

It has been shown that male drivers tend to make, or be the reason for, more claims than women drivers, especially as younger drivers. Male drivers between the ages of 16 and 21 are considered to be one of the more dangerous groups for auto insurance companies.

Naturally, car insurance companies raise rates for male drivers, and lower rates for women drivers, which is why most families, if they have two adolescents driving and sharing a car, make the female teenager the primary driver on the vehicle.

How Age Affects Car Insurance Quotes

In addition, gender’s effect on car insurance rates is also linked to the age of the driver. The discrepancy in risk and premium rates between male and female drivers fade as male drivers get older. Interestingly, past the age of 65, the trend actually reverses, and female drivers pay more for car insurance in old age than their male counterparts.

Again, this is due to a difference in accident statistics between men and women. Though there are various theories on why young male drivers and older female drivers tend to be more dangerous, regardless of the reason, a car insurance quote is affected for those age and gender groups.

3 Types Of Drivers That Get Cheaper Insurance Coverage

Everyone wants to pay less for insurance, and some people do. Car insurance companies provide discounts to certain types of drivers, such as ones with good credit scores, clean driving records, and one’s who drive safe cars.

Good Credit Scores

Drivers with good credit scores are perceived to be responsible individuals – if you can manage your finances, then chances are, you are reliable and mature. Car insurance companies contend that statistics show a driver with a high credit score is less likely to file a claim and is, therefore, a lower risk and deserves to pay less for auto insurance.

Clean Driving Record

Good drivers obviously get cheaper car insurance rates. Car insurance companies give cheaper rates to those who have shown that they are safe, reliable drivers. If a driver has not had a ticket or accident, then the insurer assumes that he is not speeding, driving recklessly, or breaking the law, and is less likely to be involved in an accident and be at-fault. That makes the policyholder a profitable policy to underwrite, and he is the kind of customer that the insurance company wants to attract by giving him the best rate available. If a young driver is inexperienced, has tickets or accidents on his record, then he may be considered a high risk.

Car Make and Model

Comprehensive car insurance completely covers property damage to your car. If you drive an older or cheaper car, then the insurance company is liable for a smaller dollar amount, and you will pay less for car insurance. More expensive cars that require costly repairs result in higher car insurance rates.

Driving a car that is not a sports car and does not have a powerful engine, like an old, cheap, conservative car will get a driver more affordable rates. Another factor to consider is how popular your car is with thieves, and how often that car gets stolen.

Car Insurance Quotes

Consider these factors before buying a new car or purchasing car insurance, and check out insurance quotes to specifically learn how your credit score, driving record, and personal risk profile are affecting your car insurance quotes.

MyCarInsuranceRates.com helps our users find cheaper car insurance by comparing online quotes. Enter your zip code to begin an online car insurance quote comparison of auto insurance companies in the country to find the best car insurance rates.