Do Men Pay More for Auto Insurance?

Is gender equality exercised with auto insurance premiums? Why should there be differences between premium rates between genders if the policy is the same? Isn’t this gender discrimination favoring women?

Considering all these questions, insurance companies have to do what is required by law and not what some people think should be right. Surprisingly, men almost always pay more for auto insurance coverage as compared too their female counterparts. Even though the difference is slight, the fact stands that men pay higher premiums for their cars.

Generally, there are specific factors which insurance companies look for in order to charge the premiums. These factors include: marital status, driving history, past accident history, location, citation and other relevant information which reveals more about the driver.

Why then should men be charged more?

Insurance companies offering auto insurance coverage earn money by covering thousands of accidents which might never occur. Purchasing a car insurance policy gives you the promise that you will be compensated in case unfavorable weather conditions, collisions or acts of vandalism ruin your car. The policy should cover the repairing expenses to take you back to the financial position you were before the accident occurred.

Insurance companies charge higher premiums to men drivers because research shows that, men cause more accidents than women. Considering this fact, the premium rates are reduced to the female gender as a reward from insurance companies for causing little loss in case it has to be there. This is a natural mistake which men have tried to correct for ages but bore no fruit.

Men are believed to cause the highest percentage of the road accidents. This is because of their speeding, aggressiveness, taking swift lane changes, tailgating, making sharp turns, and other risky behavior. Men also spend more hours on the road compared to women. Even when a couple is going out, the man is usually the driver and the spouse is a passenger. This means that in case of an accident, the man will be accountable as the driver.

In addition, most societies and cultures encourage boys to learn how to drive at a very young age. It is common to see a sixteen years old boy driving for thousands of kilometers per month. Young drivers, however, are not mature enough to make road decisions and thus cause many accidents. Biologically, girls mature faster than boys. Therefore, a seventeen year old girl will most likely be a better driver than a man of the same age.

Some more reasons why men pay more for auto insurance are as followed:

  • Naturally, men are stereotyped as not willing to stop and ask for directions. They become irritated in unfamiliar terrains with strange road marks they have never come across. Such situations cause tension and stress which interferes with the drivers reasoning.
  • Some scientists urge that higher levels of testosterone in men causes them to drive faster and thus cause more accidents.
  • Men are mostly the breadwinners and thus are always in a hurry to look for money. The desire to reach the promising destination before the treasure is unhidden by anyone else causes them to day dream, speed, and get into accidents.
  • Whenever an accident occurs, the probability of a man dying is higher than that of women. This is because of the higher speeds at which men tend to drive at.

These are some of the reasons why insurance companies charge men higher rates than woman. Of course, if you are a man, that does not necessarily mean that you will be paying higher rates for auto insurance – it only means you have to look harder!