Tiger.co.uk Reveals Car Insurance Blow For Women
Car insurance comparison website Tiger.co.uk has published the results of its monthly price monitor. Tiger Watch data is produced from the analysis of hundreds of car insurance quotes across a range of driver age and gender profiles. It gives motorists the earliest indicator of movements in market prices.
June’s figures bring with them generally good news for UK drivers, with average premiums dropping 0.6% when compared with those recorded in May 2012 and 6.2% below the average prices of a year ago – June 2011, the month with the highest ever prices recorded by Tiger Watch.
Further analysis of the results by gender reveals that male drivers are faring better than female motorists when it comes to monthly inflation. On average, men saw their policy prices drop by about 2.3% compared to May 2012 prices. However, women motorists saw their policy prices rise by 1.2%, mainly as a result of increases in pricing for younger women drivers, with 20 year-old female driver profile recorded an 11.4% month-on-month increase.
This change in relative gender pricing continues a trend picked up by Tiger Watch over the last four months, with the historical pricing differential between men and women being steadily eroded:
This adjustment to the male and female policy pricing differential comes in advance of the December 2012 EU Gender Directive that will ban the use of gender in its own right as an insurance factor.
Commenting on the latest Tiger Watch results, Tiger.co.uk’s Commercial Director, Andrew Goulborn, commented: “Generally we’ve seen fairly flat pricing over the last 12 months. In fact, prices have dropped versus their June 2011 peak. However, there are winners and losers within the data. Monthly inflation is hitting female drivers – especially younger ones – harder than men. And we’re seeing the biggest price drops in the 45 and 55 year old groups that we look at, with rates falling by around five to six percent. We’d always recommend that drivers compare car insurance quotes from a number of companies at renewal time in order to get the right policy at the right price”.