More Female Drivers But Higher Insurance Costs

According to a report from the RAC Foundation the number of new female drivers is increasing at twice the rate of the number of new male drivers. With higher car insurance costs predicted as a result of the impending EU Gender Directive, will they struggle to get on the road? A report compiled by the RAC Foundation has shown that between 1995 and 2010 the number of women with a driving licence increased by 23 per cent, which equates to a rise of 2.6 million to 13.8 million. In the same period the number of new male drivers increased by only 9 per cent. According to the same report this trend is likely to continue as the sharpest drop in driving in the UK is currently among young males in their 20s. Prices Could Increase By 24 Per Cent For Women drivers The drop off in young male motorists might come as no surprise considering the increases in the cost of insurance for young drivers recently – the latest Tiger Watch report for November showed how this group of drivers saw premiums increase by 1.6% in just a single month. However, with the EU Gender Directive on the horizon, it is very likely that female drivers will be starting to feel the pinch too. Figures from the government have estimated that prices could increase by as much as 24 per cent for women drivers, and price monitoring reports have already begun to show that the gap is closing in on male and female rates. Andrew Goulborn, Commercial Director for insurance comparison site Tiger.co.uk commented: “We have seen a gradual increase in the cost of car insurance for women drivers and we will be monitoring it closely over the next two weeks to understand what overall effect it has on the prices returned by the insurance companies featured on Tiger.co.uk. There are some money saving tips that can be followed when shopping around for motor insurance and we have written a guide specifically for younger drivers that has a number of suggestions in it. It could also be worth considering taking out a telematics based product as it has been well documented that younger drivers and those who have a lower annual mileage can get good value for money from these products. As ever, we would recommend that all motorists use Tiger.co.uk to shop around and compare prices before making a commitment to buy”.
14/12/2012 11:06:35 Eren
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