Category: Insurance

Honey, I bumped the car

7/21/2014

Women drivers are more likely to make a claim on their car insurance for an accident that is of their own making, according to analysis of over 11 million car insurance quotes through MoneySuperMarket.com
   That said, men rack up the most significant claim costs. The total value of their claims is far higher, by a margin of 15%. The average cost of a claim for ‘at-fault’ accidents is £3,187 for men, compared to £2,771 for women – a £416 difference.
   The research also reveals the highest proportion of claims made by women are under £1,000 (37%), whereas the highest proportion of claims carried out by men are greater than £2,000 (34%). Five per cent of claims made by male drivers cost more than £10,000, compared with just 3% made by women.
   Peter Rodger, head of driving standards at the Institute of Advanced Motorists, comments: “These figures raise some quite serious questions; especially as to why males are involved in more collisions that have a serious end result. It is worrying that accidents involving males require more expensive repair work to their vehicles – do men feel their cars will protect them more in the event of a heavier accident?
   “With the highest proportion of claims by women being under £1,000, it appears that women don’t want to be driving around in a car with visible accident damage. Many people see cars as an extension of their attitudes and personality; perhaps women have more pride in the appearance of the cars than men do.”
    Kevin Pratt, car insurance expert at MoneySuperMarket, said: “Anyone that has been involved in a road accident will know how traumatic it can be, regardless of whether you were at fault or not. After dealing with the shock of an accident, the second blow is often the cost of the claim. Our research shows the average claim value for an ‘at-fault’ accident is nearly £3,000. Claiming for either an ‘at-fault’ or ‘not at fault’ accident will affect the cost of your car insurance premiums, as when an insurer assesses a driver’s risk profile, any history of accidents will probably mean the motorist pays more."
   See more about insurance and shopping around for the best quote on Money Supermarket

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Driving like a girl can save you money

5/20/2013

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See my full story Women Lose Advantage including a list of companies offering telematics to reduce insurance premiums.

Insurance organisation Drive like a Girl says it has handed back more than £51,000 to its first 500 customers in recognition of their good driving. The brand was established in January to help careful drivers beat the EU directive, which prevents insurers from selling cheaper cover to young women even though they represent a smaller risk than equivalent chaps. It promises to give money back after three months to anyone who has ‘driven like a girl’. The quality of driving is assessed using data sent back by a telematics box installed behind the dashboard at no extra cost when people buy policies.
In May, 85% of the 500 earliest customers are getting money back, with 60% receiving their own maximum discount at an average of £137 each. One in four customers received more than £150 back. Some 7%, mostly the youngest motorists, will get more than £250 as their three-month discount.
Twenty-one-year-old Gemma Taylor from Leeds heard about Drive like a Girl just after she passed her driving test in January via comparison site Moneysupermarket. She said: “It really didn’t worry me having a box in the car, as it enables me to have an affordable price for my car insurance against others that were on offer. What really tempted me was the three-month discount. By driving safely, I have now qualified for over £300 back which is fantastic.”

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Drive like a Girl for cheaper insurance

1/29/2013

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If you can Drive Like a Girl, call 0330 022 0200
See www.drivelikeagirl.com

I'm amused by the launch of a new insurance company called Drive Like a Girl
   This smart bit of marketing offers a great way to get round the EU ruling that you can't offer better rates based on a driver's gender.
    Since this ruling on 21 December, female drivers of 17 and 18 have seen their premiums shoot up by 50% from an average of £1,307 to £1,965, while the boys have only seen their fall by 5% to a frightening £2,191.
   In order for DLaG to offer you a better rate, you have to prove you can drive like a girl - even if you're a boy.
   A hidden telematics box or 'spy in the cab' records how you drive and you'll be rewarded if you're gentle on the car.
   A number of other companies are also offering a variation on this idea. Click here to see their details and more advice in my Top Story, Women Lose Advantage.

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Women lose insurance advantage

12/21/2012

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I was lucky to be able to insure my Metropolitan when I was in my 20s

From December 21, Europe has decreed UK insurance companies can no longer ‘discriminate’ again men by offering women a better insurance rate – even though we cost insurance companies less in claims.
It wouldn’t be so bad if the companies intended to reduce the male premiums, or at least add the two together and split the difference. But no, premiums for men stay the same, but young women will pay a lot more – I'm sure I wouldn’t have been able to insure and drive all my classic cars if I was starting out now.
So would you be willing to have a 'spy in the cab' to reduce your premium? Click here to read more.
Photo by Colin Burnham

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Honey, I bumped the car

Driving like a girl can save you money

Drive like a Girl for cheaper insurance

Women lose insurance advantage

Woman Driver

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