How Gender Affects Auto Insurance Rates

Insurance companies use complex actuarial tables to analyze the statistical risk associated with every policyholder based on their driving history, gender, age, location, vehicle type, make and model, and credit history, among other factors. These tables hold an enormous amount of information, and help an insurer determine the chances that a certain driver will make a claim in the future.

How Age, Gender, and Other Factors Affect Your Auto Insurance Rate Leavitt Group June 18, 2015, 4:22 pm August 7, 2017 Comments Off on How Age, Gender, and Other Factors Affect Your Auto Insurance Rate

For them, car insurance costs 24 percent more than men, in part because of the equality laws of the UK. This law has changed the fact that before, female drivers under the age of 25 paid 31 percent less …

What affects the auto insurance rate quotes I receive? Depending on state laws, which can restrict the type of information an insurance company may use, these factors will usually affect your rates: Who you are: Age, gender, marital status, ZIP code, number of years you’ve been licensed, homeownership, occupation, education and even grades

Insurance companies know this and reflect it by an increase in rates. The average male driver stands a 1-in-19 chance of being involved in an accident while the average woman driver has a 1-in-25 chance. According to an online study, if a man and woman have the exact same driver profile, the insurance quote for the man is higher 62 percent of the time. It is also higher by an average of 23 percent. According …

Learn why auto insurance premiums are affected by a motorist's gender. Reasons that car insurance rates can generally be higher for males than females.

What Is The Impact Of Gender Change On Auto Insurance Rates? is answered free by a licensed agent.

The Effect of Gender on Car Insurance Rates Car insurance companies take a look at many factors to determine how much risk they'll face when insuring you (meaning how likely they are to pay out a claim on your behalf). These include: Your car's make, model, and year. Your driving record. Your credit history. Your age.