Ipswich, 5th January 2012
With the well documented EU insurance gender ruling coming into effect in December of this year, leading car insurance comparison site Tiger.co.uk today released statistics from its monthly “Tiger Watch” price monitor suggesting that its impact may be more limited than widely predicted.
Car insurance prices for women, and young women in particular, have historically been considerably lower than rates for their male counterparts.
Tiger.co.uk’s research suggests that, to a great extent, there has already been an equalisation in pricing across genders. Their analysis looked at a 20 year-old male and female driver profile over the last two years and the results make interesting reading:
With the 20 year-old male driver now paying a virtually identical premium to his female counterpart, relatively cheap car insurance for young female motorists appears to be a thing of the past.
This is backed up by other data measured by the car insurance comparison site that shows that year-on-year inflation for the same 20 year old drivers meant that women in this group experienced price increases in excess of 24% in 2011, whereas a similarly aged male driver might have seen lower increases of around 14%.
A Tiger.co.uk spokesperson commented: “There’s been a lot of debate over the last few months about the EU gender ruling and that it may well put an end to the lower policy prices for young women motorists.
Through our Tiger Watch monitor we have examined the relative pricing for a 20 year old male and female driver and analysed hundreds of quotes for these driver profiles from the beginning of 2012. We have found that, for this group, the gender gap has already all but disappeared.
This is not to say that younger female drivers, those aged between 17 and 19, won’t see their car insurance premiums increasing as a result of the ruling. But the number of women drivers who will be affected could be significantly fewer than originally predicted. However this does not necessarily equate to good news for Britain’s women drivers. Rather it indicates that for many young female motorists, relatively cheap car insurance is already a thing of the past”.