Cheap Car Insurance For Women
If you are woman and interested in saving money on your auto insurance, you are in luck! There are many companies that offer cheap car insurance for women and if you do a quick internet search, you will find a multitude of reasons for rates being cheaper for women than it is for men.
In actuality however, the real reason that women typically get their auto insurance cheaper is based on hundreds of risk factors that are determined by the actuarial sciences used in the industry.
For instance, for a male and female getting their licenses as teenagers, both are assigned a risk rating as a youthful driver Women obtain a risk rating of mature driving status at age 25 or until married, or has a child (whichever comes first).
Men, however, do not obtain that status until age 29, or is married (again, whichever comes first). The insurance industry obviously believes through studies of overall risk, that a woman matures faster than a man and therefore a more responsible driver.
If you are unaware of the discounts afforded to your gender, you could miss out on some of them by not asking the right questions when you shop for your next quote. Some of the best ways to assure that you are getting the cheapest and best policy available is to know what actually qualifies for a discount.
For instance, whether it is cheap car insurance for women (or a man) most States have a law that requires a minimum of at least liability coverage on your car. Liability pays out when an accident involves another car and/or property damage and you are at fault; or the motorist at fault is uninsured.
However, you do not have to carry comprehensive coverage (which covers your vehicle against theft, vandalism, fire or any type of natural disaster). Neither do you have to include collision coverage; which covers your vehicle if the accident occurring was your fault, or if you hit a stationary object.
Take a look at your driving record and determine if you really need to pay for collision (only if your record shows that you have had claims of accidents being your fault.). You may not want to include comprehensive on your policy either, if your car is more than 8 years old. However, determine if putting your car at risk for total loss is worth the additional monthly payment before deciding not to include these provisions in your policy.
Other factors that might allow you a discount:
- Good driver – little or no claims
- Mature driver status – over age 25 or have a child.
- Multiple car discount
- Multiple policies with same company (auto-homeowners-renters-etc)
- Senior discount (if over age 49, interestingly though, the discount is removed and the policy goes back up after the age of 74)
- Your auto safety features play a part with discounts (like airbags, anti-lock brake system, alarm, etc)
- Student with good grades
- Non-Smoker
- Few or no claims history
- Good credit score
- Higher deductible amount
Even though you are allowed these discounts, every agency does not automatically include them when quoting you the policy premium. Make sure you have addressed each possible discount opportunity with the agent before choosing the insurance company and/or the agent where you will buy your policy.
Statistics show that if you are a woman, insurance is an area in which you are considered less of a risk to insure than your male counterpart. Cheap car insurance for women is readily available at most agencies and they are all waiting to give you a quote.
Whether you ask for your quotes on-line or at the local agency around the corner, most will provide you with the same type of processing. However, you should not believe that your gender will entitle you to lower rates under any and all circumstances.
For instance, you and your twin brother each own and drive the same age and model of car. He is a good driver, has no claims on his policy and has good credit; whereas, you have had two speeding tickets, one accident (that was your fault) and bad credit.
In this analogy, which of you do you honestly think should have the cheaper rates?
