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Newsletter

Gender gap for car insurance revealed

By Tom Farley, Tue 10 Jun 2008 - Published in Car Insurance

New research has revealed the full extent of the price difference between car insurance for men and women.

Analysis of 12 million motor insurance quotes has revealed that women enjoy cheaper cover until they hit their 50s, according to moneysupermarket.com.

During the past year, the average quote for a woman in her 20s was £320, 16 per cent cheaper than their male counterparts.

Overall, men paid nine per cent more for their car insurance compared to women.

However, the most striking difference occurred amongst teenagers, with 18-year-old women paying £861 less than men of the same age.

Commenting on the findings, Peter Gerrard from moneysupermarket.com said: "Young and newly qualified drivers have long been perceived as high risk by the insurance industry and often find it hard to get competitive motor insurance."

Mr Gerrard suggests people can cut the cost of their car insurance by shopping around and buying online.

Research by uSwitch has revealed that motorists are shelling out an extra £624 million a year for car insurance by paying in monthly instalments.