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Car Insurance: Gender Inequality or Natural Born Boy Racers?

Over the past few weeks, a debate has resurfaced and it is one that has raged for a number of years. Is the gender price difference on car insurance discriminatory? Well, the issue has now been settled by a EU ruling that has stated that insurers can no longer charge different premiums based on gender.

Yes! It is a victory for male drivers everywhere! But is it that simple? Were insurance companies justified in over-charging men for all these years? If men and women were to both take driver risk assessments, who would come off better?
It must have angered male drivers that they have to pay more than the fairer sex due to the stereotype of the boy racer. Unfortunately, official figures back up the insurance companies’ concerns.

Insurance is all about risk and unfortunately young men are a much greater liability. In 2009, 13% of drivers reported in accidents were young males (17-24 years old). In comparison, women of the same age bracket were involved in just 8%. This evidence suggests that male drivers would benefit from a driver risk assessment.

So is it discrimination if young men are a genuine risk? Would it be unfair for insurance companies to charge more for home insurance if you lived in a bad neighbourhood? No, again it’s all about risk.

It is a topic that can be argued long into the night, but unless we are all willing to pay a flat rate for insurance and pay the same as worse drivers, then perhaps the gender difference is fully justified.

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Driving Risk Management offer in-vehicle Driver Risk Assessment.

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