Lady Driver Car Insurance

How to find good rates specific to lady or woman drivers.

Insurance companies are in the game of risk. They take risks and get a return on them. In order to make some sort of a profit they try and make sure that the odds are balanced a little bit in their favour. Because of this, insurance companies will choose marketing strategies that allow them to compete in their area. Some will choose to generalise and offer insurance to many different groups - hoping the spreading of risk makes sure a profit is made somewhere. Some will specialise in offering insurance to young drivers, where the lack of an insurance history means that these traditionally high risk customers can't have a no claims bonus for a few years, leading to hopefully high margin business being done. Others, though, may choose to insure only the lower risk sections of the market.

They would then receive lower premiums, but would be paying out less on average as well.

There are car insurance companies who specialise in women drivers for this very reason. Women drivers historically are lower risk customers. This is not because they have less accidents, but it is actually because the accidents that they do have, have been proven statistically to be less serious. By less serious we mean that the car that they are driving in the accident tends to suffer less damage. There is not as much damage to other vehicles involved in the accident, and property tends to incur less damage. So even though they might claim as often, in all they claim less amounts, giving insurers leeway to charge less premiums. The reason for these accidents being less serious is that women are less likely to drive fast, less likely to show off to their friends and less likely to try risky driving manoeuvres.

Insurance companies that specialise in insuring women also try something different as well, in that they literally only tend to insure women. They contend that any woman who insures their car with a company that also insures men are throwing money away by having to subsidise the higher claims made by men. If there have been higher claims then premiums have to go up, which makes it less attractive to women to insure with that company. So car insurance companies suggest that women join together with each other, providing less risk in total, meaning lower premiums in total.

This translates to some simple maths. The lower premiums that are coming into the insurers might mean that they don't make as much profits. But if they can get as many women as possible on their books, then the volume of business that they are doing makes the small margins add up to decent profits. So look out for these companies if you are a woman.

 

 

 

 

 

 

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