Cheap Car Insurance For Women Drivers & Strategies for Even a Lower Rate
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UPDATED: Nov 15, 2020
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Are you a woman looking for cheap car insurance? You might even be wondering why women pay less for car insurance then men.
I have outlined some information gathered to help you find the lowest car insurance as a woman.
More than likely if you have a clean driving record you should be able to get a lower premium from insurers.
Note: Illustrated above is the monthly premium for men and women drivers from 18 to 50 years of age. From 18 to 25 the price difference is significant. From 40 to 50 years of age the price difference is minor. However, women pay about 5% to 8% less than their male counterparts.
According the USA today the amount of women drivers have surpassed the amount of men.
It goes on to say this will have an economic impact on the economy and could be eluding to a rise in insurance rates for women.
There is only one situation which is outside of the United States where car insurance for women is rising.
Some claim women paying less for auto premiums is discrimination. It’s not. Females are safer drivers especially at a younger age. This is based on actuarial science or risk and not discrimination.
On the other hand, within the U.S. car insurance is lower for a woman compared to a man of equal age and driving record.
This is good news for you since premiums are probably not going to rise to the level of men any time soon.
Cost of Premiums Men vs Women by Age
Below I have created table showing the cost of premiums for men and women from 16 to 60 years of age.
I was surprised to find from 35 to approximately 50 years the price different among genders is less than 8%.
Of course the younger driver comparison is significant among men and women.
Then after about the age 50 the premiums begin to have a higher percentage in difference.
The cost difference is astounding for young drivers since a male driver is going to pay over $5,000 more for auto premiums over 3 years.
|Driver's Age||Male||Cost Over 3 Years||Female||Cost Over 3 Years||% Difference|
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Strategies for Women to get the Lowest Rate
If you are in the market for car insurance the best thing to do is comparison shop.
This is good for women since they typically are better shoppers then men.
What I mean by that is women are likely to find a better deal and have patience unlike their male counterparts.
Note: Illustrated above is the cost of monthly premiums from State Farm, Progressive, and Liberty Mutual. When I queried for quotes for each age group Progressive was the least expensive every time. Liberty Mutual is competitive with low quotes at 40 years of age.
Dedicated Coverage for Women
There may be insurers which offer coverage exclusively which could be called specialty insurance.
However, it could be higher than getting a premium from a top insurer.
More and more companies are beginning to appear and I would assume so in the United States too.
Go Direct to the Insurer
What do I mean by that?
If you are getting quotes from a brokerage agency or comparison site you can go direct to the insurer and get a lower rate.
When you get your quotes all you have to do is ask.
There isn’t an insurance agency which is going to give you bogus information such as “we are the insurer” if they aren’t underwriting the policy. Why? It is illegal to do so.
Give Equal Coverage when Comparing Quotes
When you are shopping for car insurance you want to be sure you give the same details so you are able to compare quotes side by side.
If you give one company full coverage and another minus comprehensive and collision it is difficult to tell who has the best coverage for less of a price.
Note: I decided to get quotes from USAA and do a comparison. Out of all carriers USAA is the cheapest, but you have to be former military or a family member of the military. Auto-Owners and Farmers for comparison are competitive with low quotes particularly for drivers 25 years of age and up.
Why do Women have Lower Auto Premiums?
The primary reason women have lower rates are their driving habits.
Below is a list of premium amount state by state comparing women and men for drivers approximately 30 years of age.
In all of the states the premiums are lower for women when you compare the same driver with a clean driving record.
In most instances the quotes are 10% to 20% lower depending on the state you reside.
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Outlined below are some of the reasons for cheap insurance for women drivers:
Driving Habits – The driving habits of women can be significantly different then men and insurers know this. Insurers take statistical data, such as the amount of accidents, and use it through a process of actuary science (number crunching) and since women have less accidents they get lower rates.
Less Claims – On average women file less claims then men. Since insurers realize this as a statistical fact you get to enjoy lower premiums.
Safe Driving – The majority of women are safer drivers and take less chances behind the wheel then men. Things such as texting and driving are committed by young male drivers since they think it may be “cool” to do it.
Less Accidents – Women have less car accidents then men on average. While not all women are immune to a car accident the majority of them are minor accidents compared to their male counterparts.
Note: Illustrated above is a quote comparison of women vs men drivers from 20 to 60 years of age. At approximately the age of 50 the price in premiums are relatively close. Then reaching towards the age of 60 the premium price separates by 10% or more for male drivers.
Here is some interesting news.
Probably one of the reason women pay less for car insurance is they don’t drive as far.
Normally in a married relationship (or living together) the man is the driver and not the woman.
On a long distance trip the man normally is driving.
Okay, I am not trying to be sexist or anything, but these are the statistics and lucky for you cheaper car insurance is almost always going to be a fact compared to a man.
Other Interesting Data
Public transportation – Women are more likely to take public transportation which not only lowers car insurance, but the gas bill too.
Questions – Women are more likely then men to ask questions about auto insurance discounts where men don’t.
DUI’s – Women are four (4) times less likely to get a DUI. You can easily find the statistics at Esurance.
Speeding – According the National Highway Traffic Safety Administration (NHTSA) the cause of fatal accidents by speeding is about 25 percent for men and only 15 percent for women.
Note: Illustrated are quotes from Allstate, Nationwide, and MetLife. Each insurer is 9% to 16% lower than the median rate from women drivers of a similar profile. Out of all the carriers I received quotes the next best option for women is Allstate. Nationwide and MetLife are extremely competitive for drivers starting at age 25.
Putting a Woman as Primary Policyholder
If you are married there is something you can try if your significant other is the primary policyholder.
Put yourself as the primary policyholder and see if the rates go down.
It never hurts to ask.
Also, you may want to consider it if you need a joint or separate policy.
Statistically women are going to buy safer cars.
If you are in the market for a new car it is a good idea to get quotes first since the cost to insure it could be higher than originally thought.
Men are more likely to buy a vehicle which is fast or sporty which normally means they cost more to insure.
When insurers take the vehicle into consideration for a policy they look at the safety rating and claims history.
Women on average are going to pick the safer less likely to have claims type of vehicle.
Men vs Women
Even though women on average pay less for auto premiums it doesn’t mean women are less capable of major driving violations.
There are female drivers which have high premiums based on a poor driving record.
There are women which have been denied insurance from certain insurers.
Since your gender is one of many factors to determine your rate it is more important to maintain a clean driving record.
Will Women Eventually Pay More?
At a young age men typically are taking more risks on the road than women. As of now, the statistics say so.
Since there are more women drivers on the road today it would make sense over time women may cause more accidents.
On the flip side, women are safer drivers and the averages continue to state men are causing more of the accidents even though there are less male drivers on the road now.