Whether you are a woman or a man, legally all the drivers are required to have an insurance coverage for their vehicle. There are many auto insurance companies that provide vehicle insurance; hence getting auto insurance is not a mission impossible. Generally, the premium rates of car insurance depend on the factors such as age, driving record and credit scores. Some companies would also check how often an individual uses his car. A full-time student with good grades is likely to get car insurance at discounted rates. Here we take a glance at why women get better or at times cheaper car insurance rates?
Is it True Car Insurance Rates are Cheaper for Women Drivers?
Yes, it is true that the monthly premium amount for auto insurance for women is less and above all they are likely to get a discount of at least ten percent on the entire auto insurance premiums. Here are a few reasons why women get better deal than men on auto insurances.
The auto insurance companies provide low premium rates to women not out of goodness of their heart. The only reason is women drive slowly and carefully. They are less prone to road accidents.
Studies show, men tend to drive fast and are more prone to road accidents. Statistics show men have a taste for expensive cars. The spare parts of these cars are expensive to replace in case of damage or theft. This could be one of the reasons why women get a better auto insurance deal than men. Women care for their car and avoid the head-on collision with other vehicles, which could cause serious damages to the car bumpers, the headlights and other parts.
Women use the car mostly to run errands, pick up their children from school or to go out for work. Hence, on an average the mileage covered by women drivers is less. It is a general belief that it is men who drive on a long trip. Hence, they have to pay higher rate of premiums.
Car Insurance for Women – In Brief
There are many firms that specialize in car insurance for women. In recent times, the car insurance companies that have policies designed specifically for women have been a big hit. They seem to know the thought-process and the spending habits of women; hence the policies are designed to secure the best rates by providing good discounts.
Most of the insurance companies also have online brokers to help the potential women customers. The woman driver could check out the rates offered by various companies over the Internet before making the final decision. The rates could be calculated using the online insurance applications.
Many companies offer incredible discounts when the car insurance policy is purchased over the Internet. However, before purchasing a car insurance policy over the internet, checkout the authenticity of the concerned company. This could be done by inquiring with friends or by approaching a car insurance broker.
For women who are not comfortable in purchasing car insurance over the Internet, they can call up the insurance agents. All the doubts regarding the insurance policy could be clarified with the agent over the telephone.
Car Insurance Companies – Coverage Options
The policies offered by the car insurance companies cover a number of options such breakdown cover, collision coverage, comprehensive coverage, property damage and many more. The above-mentioned coverage’s are mostly given to women because insurance companies believe that a woman by nature is cautious. This clearly indicates that the car insurance companies that provide policies for women drivers are never in a loss.
Breakdown Cover: In case the vehicle breaks down, the insurance company would provide assistance to complete the journey. It would also undertake the repair of the vehicle and see that the car is safely delivered home.
Damage to the Property: Some of the policies have the option called “property damage”. If the car driven by woman causes damage to someone’s property by dashing against it, this option would take care of the expenses incurred to repair the damages. It would also provide the legal defense, in case, the other person files a law suit against the driver.
Comprehensive Coverage: This coverage has dual function. This would not only pay for the expenses of the damages caused by a woman driver but also offer cover for unseen natural calamities such as storm, snow, wild fire and so on.
Collision Coverage: Almost all car insurance companies provide this option. This option is a must to avail an auto loan. Collision coverage pays for all the expenses incurred if the car is badly damaged in an accident.
Liability Coverage: In case of an accident, if a third person is hurt, if there is a damage to property and loss of life, the liability coverage option would protect the woman driver. However, this option does not cover the medical expense of the driver or the garage expense of the car. In brief, this option would include the medical expense of everyone other than the owner of the car.
The other coverage options offered by the car insurance companies include the uninsured motorists, where the car owner gets the insurance if the accident is not her fault and also if the other motorist is not insured, and rental car coverage.
It is advisable to understand the benefits of the policy one is planning to purchase beforehand. The car insurances are cheaper for women as long as they possess a clean driving record. If the frequency of the speed-tickets is high the insurance amount is likely to be high. In extreme cases such as driving under the influence of alcohol or drugs, the premium rates will definitely go high. In some cases it would also be difficult to get an insurer.
About the author
I am a car insurance agent for a long time and I deal insurance that is affordable. I always deal with companies that are selling cars