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Car insurance costs

Thursday 17th February, 2011 at 10:02 COMMENTS (0)

A new ruling by the European Court of Justice next month could lead to an average rise of £1,000 in car insurance, for women drivers. 

The European Court is expected to outlaw gender discrimination when it comes to setting insurance rates in the decision due on March 1. 

Currently, young women aged 17-22 have to pay £1,682 a year in motor insurance on average, compared to an inflated £2,750 paid by men in the same age range. 
Young women tend to get cheaper car insurance deals than their male counterparts because they are considered a 'safer bet' by insurers. 

Young women are 10 times less likely than men of the same age to be involved in a crash and 25 times less likely to commit a traffic offence in first three years of driving.  It is largely due to these figures that determine the price that we pay. 

The spokesman for the Association of British Insurers, Malcolm Tarling, said: "We believe this will be extremely detrimental to UK consumers.  If insurers aren't able to take into account risk factors, it will have widespread implications.

 

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