Whether you’d like to admit it or not, men and women are two very different creatures. Scientifically, we are different on so many different levels, and while we won’t go into why that is, we will discuss one thing that has always been a difference based on gender… Auto Insurance rates. Even with the changes in society today, and the blur of gender roles among men and women, insurance companies will still give more affordable rates to women as opposed to men. Many would argue that this is some sort of discrimination but the truth of the matter is that Insurance companies use cold hard facts and statistics to base their rates on. Sadly, whether you were born male or female still has a lot to the amount of money you pay for your insurance.
Vice President of the Insurance Information institute, Loretta Worters, stated in an article that , “Men traditionally have been paying more for decades, and while the cost gap closes somewhat after age 25, it never fully closes.” In a 2012 analysis it was revealed that men pay $15,000 dollars more on average in a lifetime then women do. Here are some statistics that might reveal to us just why this is the case.
- From 2000- 2009 men were involve in 18 million more accidents then their female counterparts.
- According to Traffic Stats report 80% percent of all auto accidents, most notably fatalities, are caused by men.
- According to the Insurance Information for Highway Safety 71% of all 2011 crash deaths were male victims.
- Women wear seat-belts 27% more than males.
- Men are 2x more likely to drive with a suspended license.
- Men are issued reckless driving tickets more than 3.4 times than women
From a statistical perspective it isn’t hard to see just why insurance companies are typically more lenient with rates for women. Based on the cold hard facts it seems that men really are more aggressive and likely to break the rules. We know that there are always exceptions to every rule, but based simply on historical data men have always and might always pay higher premiums for Auto Insurance.