Most of the car insurance companies these days prefer female driver over male drivers. The reason for this is because, female drivers are statistically less risky. Surprisingly, this is not because women are involved in fewer accidents than men. Statistically speaking, the chances with meeting in an accident are the same. The main difference is that the overall damage caused by women is not as much as men. This means that on average, insurance premiums paid by women are up to 20% less than the insurance premiums paid by men. This applies only within the same age range.
Women are slower drivers than men. The reason for this is the boy-racers who aim to overtake as many cars as they can on the road. Even some of the older men drive the car faster than they can handle or control. This is one problem that is not faced by women drivers who generally drive at a lower speed. Due to this, the accidents caused by lady drivers are not as serious. This means that the total claim that the woman might make if she meets with an accident is significantly less than what men might make. This is what subsequently leads to a lower premium.
All females are considered to be a better overall risk even if they are as young as 17. There is a wide range of premium discounts aimed at young lady drivers. Some of them offer more discounts if the driver takes the pass plus certificate. This involves a set of extra lessons, after the license has been issued. This can give you a discount of up to 30% in the first year alone, allowing you to save a lot on the total amount that you pay for the package.
There are insurance companies that specialize in women drivers alone. You should check out these companies as well. One example of such a company is called the Sheila’s Wheels which is in the UK. This company strictly covers only female drivers and does not even allow the woman to cover the insurance policy with her husband. This is because they cannot offer the same discount to both the woman and her husband, as the risk posed by the husband is greater. If you want to get the best deals with this type of offer, you should get a standalone policy as this will definitely have the lowest periodic premiums.
You might expect these insurance companies to have a lower demand than companies that target a wider customer base. Even though, these companies do offer a lower premium than ordinary insurance company, they do have a lower risk of payback. Even with a lower profit margin, these companies can attract more women thus allowing them to have a greater number of policies.