Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 19th of June 2018
June 13, 2012

Female motorists see premiums rise in June

by Richard Kilner

Story link: Female motorists see premiums rise in June

In its monthly price monitor price comparison website Tiger.co.uk has found that, in June, the country’s motorists enjoyed a drop in car insurance premiums of 0.6% from May, with prices 6.2% lower than the average of a year ago.

However, there was a gender divide with male drivers seeing a monthly price drop of 2.3% and female motorists seeing their premiums rise by 1.2%.

The increase was especially steep for younger female drivers, with a 20 year old female motorist seeing an 11.4% hike in premiums from one month to the next.

The Tiger Watch data has seen the gap in insurance premiums between male and female drivers decline over recent months, from 12.4% in March to just 6.1% in June.

The prime mover behind the falling male and rising female premiums is the EU ruling which comes into effect later this year and bars gender as a risk category for the purposes of pricing insurance.

However, as women tend to be safer drivers they may be able to help themselves achieve lower premiums by taking up telematics-based car insurance, which has seen a 25% rise in sales via Tiger.co.uk and rewards drivers based on safe driving behaviour.

 

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