Male vs. Female Insurance Premiums
- Thread starter BubbaL00
- Start date
yes there's a difference. (based on my own personal experiences only, I'm not an insurance guy).
Demographics, geography, statistics, etc. all play a role in how a premium is calculated.
I've found it isn't as much of a difference with motorcycles as it is with cars. Don't know why that is....
Vifferfun would have a better handle on it. He's an insurance wikipedia.
Demographics, geography, statistics, etc. all play a role in how a premium is calculated.
I've found it isn't as much of a difference with motorcycles as it is with cars. Don't know why that is....
Vifferfun would have a better handle on it. He's an insurance wikipedia.
For under 25 years old, there is a major difference in premium charges between male and female. Between 25-50% for almost all standard lines insurance companies. This is for primary and secondary drivers of AUTOMOBILES. Oh and it's the make rates that are higher.
For Motorcycles, it's less standardized, but most companies I know of, don't differentiate between the sexes. If in doubt ask your insurer.
For Motorcycles, it's less standardized, but most companies I know of, don't differentiate between the sexes. If in doubt ask your insurer.
It depends on what type of policy you are using if a male buy auto insurance the rates of premium are high than the female.Because there are more chance of accident for male.On other hand if you buy health insurance males pay less than the females because the females health expanses are high than the male.So its depend on you what type of insurance you are taking about..........
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stormcat
Well-known member
It has been against the law for years in Canada for vehicle insurers to differentiate coverage and costs based on sex/gender. This also finally changed in Europe in 2011.
This actually sucks for women since statistically, we get into far fewer collisions and have far fewer claims. So instead of men's premiums going down to match those of women, our premiums actually increased to match men's. :/
This actually sucks for women since statistically, we get into far fewer collisions and have far fewer claims. So instead of men's premiums going down to match those of women, our premiums actually increased to match men's. :/
Do you have a link to the statistics which shows that women have "far fewer collisions and far fewer claims"? Also, premiums in automobile insurance are only differentiated with drivers under 25 so I think your point above is a little confused.
invictus43
Well-known member
Here's a link: http://www.scienceagogo.com/news/19980516133725data_trunc_sys.shtml
It says that men have fewer collisions per mile driven than women. However, women generally drive much less so the total number of collisions is less for women. To an insurer, they really only care about how much they pay out in a year, and if women cost them less than men, they'd charge less. And that seems to be the case.
invictus43
Well-known member
Sorry, not insinuating they pay less, meant they have less accidents and lower payouts for insurers. As you say, they can't charge differently based on gender.
a friend of mine did get a discount post-op for the balance of the year after gender re-assignment.
Nofear
Well-known member
Science-a-gogo article from 1998, what a great source of factual information... /sarcasm
I do admit young men are certainly more likely to street race, and do stupid things to show off their "driving skills". Those two things mixed together, with what you said about women generally driving less than men are probably what makes men involved in more collisions.
But I have seen my fair share of terribly scared women drivers who shouldn't be behind the wheel because of how terrified they are of driving, distracted women drivers putting on eye-shadow at 110km/h on the DVP, and bat s#!t crazy women drivers who drive so carelessly that they may as well be driving drunk while texting and drinking their starbucks at the same time.
I'm paying insanely high rates because of other's idiocy so don't complain that you have to do the same, ladies.
From my personal experience I see more and more women driving recklessly and faster than men. I've seen all types of stupidity from female drivers...mainly driving fast, with no turn signals and assuming they have the right of way everywhere (actual experience not making up sexist bs on this one) and can go as they please.
Mind you many men drive like dumbasses as well so I'm not discriminating...takes all kinds and just because you're a female does NOT mean that the entire demographic is safer behind the wheel. I think that notion that females are less involved in accidents and are overall safer drivers is complete bs that's just perpetuated over the years.
Mind you many men drive like dumbasses as well so I'm not discriminating...takes all kinds and just because you're a female does NOT mean that the entire demographic is safer behind the wheel. I think that notion that females are less involved in accidents and are overall safer drivers is complete bs that's just perpetuated over the years.
I believe there is a significant difference in insuring boys vs girls.
I have a son whom I added to my insurance as an occasional driver and it increased my insurance 100/month.
He recently bought a vehicle of his own and is paying 368/month.
That said, there are discounts for good students with marks over 70% and for those who have taken a driving course. I'd talk to your insurance agent and ask for the best quote you can get. I'm using State Farm and because my car insurance is with them, as well as our home insurance, we do get a better rate.
He is also bundled a multiple car discount because he still lives at home.
When my son was doing the calling around, he was getting higher quotes than I got, some companies wouldn't even insure him because he's 19 yrs old. It helped that I had added him on my insurance before he got his own vehicle.
Shop around.
An aside, a friend was telling me that when he got divorced and went to his insurance agent to change his status and address, his premiums increased because he was now considered a single male. :/
Here's an article from last year that indicates the same issue:
http://autos.sympatico.ca/insurance-guide/8469/should-you-buy-your-kid-a-car
I have a son whom I added to my insurance as an occasional driver and it increased my insurance 100/month.
He recently bought a vehicle of his own and is paying 368/month.
That said, there are discounts for good students with marks over 70% and for those who have taken a driving course. I'd talk to your insurance agent and ask for the best quote you can get. I'm using State Farm and because my car insurance is with them, as well as our home insurance, we do get a better rate.
He is also bundled a multiple car discount because he still lives at home.
When my son was doing the calling around, he was getting higher quotes than I got, some companies wouldn't even insure him because he's 19 yrs old. It helped that I had added him on my insurance before he got his own vehicle.
Shop around.
An aside, a friend was telling me that when he got divorced and went to his insurance agent to change his status and address, his premiums increased because he was now considered a single male. :/
Here's an article from last year that indicates the same issue:
http://autos.sympatico.ca/insurance-guide/8469/should-you-buy-your-kid-a-car
Who gives discounts for smart students?!?!?!?? I'm 80+% average and want to save some money, or does it only work if I'm an occasional driver?
As for bike rates being different for sex, I don't think it's true. I was paying 3k for a 26 year old 500cc bike. which is a lot for an old beast.
My insurance agent told us to bring in his next report card, it's known as the the good student discount.
Here's an article for ways to lower your insurance rate...
http://www.insurancehotline.com/saving-on-auto-insurance-rates-how-you-can-lower-your-rates/
I know statefarm gives discounts for almost everything...
Here are my discounts..
This is the description for "Good Student Discount"
This isn't true. It is against the law in some of the Atlantic provinces, but it certainly isn't against the law here in Ontario. Gender is used for rating auto insurance, particularly for people aged 24yo and under, where it can have a pretty significant impact. I don't know of many insurers (or any insurers for that matter) who rate by gender for motorcycles (likely because there simply isn't enough data to analyse gender since the vast majority of riders are male). That's not to say that a company can't rate motorcycles by gender though.
Have a look at my sticky thread for the variables that are most likely to have a significant impact on your motorcycle insurance rates:
http://www.gtamotorcycle.com/vbforu...that-Affect-your-Motorcycle-Insurance-Premium
stormcat
Well-known member
I inquired about this with my insurer years ago and was quoted some Ontario insurance law by my agent. I'll have to find it.
If sex/gender actually came into play, then I'd be paying way the hell less for my car and bike insurance than you guys, and I'm simply not. There was also a myth circulating that the colour of the vehicle also played a role in the quote. E.g., you pay more for a red car than a white car. Heck, that myth was even mentioned in one of my university methodology courses years ago by the Prof who insisted it was fact. Again, I inquired and it's a myth.
Premiums are based on the kind of car or bike, it's replacement value, the driving record and age of the applicant, and their postal code. Period. Nothing to do with wether the applicant is female or male, or the colour of the vehicle.
