Blog: G Day – The End Of The World?

I didn’t want to write this blog too early. No point. If the world had ended as predicted at just after 11 o’clock this morning then it would have been a waste of time talking about the future of women’s car insurance premiums. But here we all are and as far as I can tell the Mayan calendar must be running a bit slower than we all thought! So let’s turn to other sort of Armageddon predicted for December 21st, 2012, namely the implementation of the EU Gender Directive. Mayan Temple There’s been loads of media coverage about this in the last 24 hours. Indeed we even had a Tiger.co.uk spokesman on BBC radio this morning. Seems like our reputation is spreading! What’s it all about? Well, from today insurers can no longer use gender as a factor in the pricing of insurance. Not just motor insurance – this also affects life and health insurance as well as pension annuities. Our view on this is clear. It’s EU bureaucracy gone mad! Fact: Women, especially younger women, are safer drivers than their male counterparts. Fact: The accidents that women drivers have tend to cause less damage than those involving men. There are loads of official statistics to back this up. But the EU, in their wisdom, have thrown away the stats and decided to deny what is a fundamental difference between men and women. The result? Motor insurance costs for women will increase by up to 25% for younger women. Younger men may see prices reduced, albeit to a lesser extent. For women over 35 we are expecting to see a much smaller effect. We have, however, already seen insurers adjust other rating factors, particularly occupation, to try to continue to offer cheap car insurance to women. So nurses and beauticians and other occupations that have high proportions of women may well receive more favourable treatment from insurers. Conversely, more male-dominated professions may go the other way. What can be done? Well motor insurance companies are competing for business at the moment. So much so that we’ve seen prices this month average at 6% lower than those we saw a year ago. So always shop around and use a comparison site (we have a great one here at Tiger.co.uk) to get a great deal. And have a look at the new breed telematics (or black box) insurance on offer from companies like insurethebox, Co op, Hastings and the AA. We’ve got more of these on Tiger.co.uk than you’ll find on any other insurance comparison site. These policies will reward safer drivers with lower premiums, regardless of gender. Popularity of telematics insurance is expected to grow rapidly in 2013. So if you’re a young woman driver it’s not the end of the world! Drive safely this Christmas!
21/12/2012 15:51:58 Eren

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