Car Insurance Gender Shift

Tiger.co.uk, a leading motor insurance comparison site, looks at hundreds of car insurance quotes each month in order to produce Tiger Watch, its monthly price monitor. The monitor provides an up to date overview of motor insurance premium pricing. The implementation of the Gender Directive on 21st December 2012 has received widespread coverage in the media. The Directive prevents the use of gender as an insurance rating factor and industry observers predicted big hikes in young women’s car insurance prices. The January 2013 Tiger Watch results confirm that these increases have been substantial. Overall, Tiger Watch shows that motor insurance rates have fallen by about 2.1% compared to those recorded by Tiger.co.uk a year ago. The month-on-month position is less positive, with rates rising by 2.2% since December. Tiger Watch January 2013 These results do not expose the big differences recorded by Tiger.co.uk for men and women. The female motorist profiles studied for Tiger Watch showed a 5.2% annual increase, whereas the men saw rates drop by an average of about 8.6%. Within this, younger women motorists have suffered most, with rates for 20 year olds increasing by 21.3% and prices for 25 year olds showing a 14.9% year-on-year rise. Commenting on the results, Tiger.co.uk’s Commercial Director, Andrew Goulborn, offered the following advice: “The EU Gender Directive has lived up to expectations in terms of the significant rises in motor insurance prices that younger women drivers are experiencing. Male drivers, conversely, are seeing premiums drop, particularly for young drivers’ motor insurance. We encourage all drivers to shop around at renewal time by getting a good range of  insurance quotations from Tiger.co.uk. Young women drivers should consider telematics insurance (sometimes called black box insurance) policies. These base premiums on actual driving behaviour collected via an in-car device that transmits driving data back to the insurer. We believe that Tiger.co.uk has more telematics brands on offer than any other car insurance comparison site”.
24/01/2013 15:36:31 Eren
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