Women still winning when it comes to car insurance

Female drivers are benefitting more from falling car insurance prices than their male counterparts, according to analysis of 21.6 million motor insurance quotes for The MoneySupermarket Monitor on Car Insurance.

This is despite widespread predictions of significant rises in premiums following amendments to the EU gender directive rules, which will apply from 21 December.

Although overall car insurance premiums fell by 10.6% over the past year, the gap between the cost of car cover for male and female drivers has not been affected. On average, car insurance for men costs £111 more than for female drivers, and male drivers continue to pay more for their insurance across all age bands.  

The research also showed that car insurance deflation has been higher for women at 11.1%, compared to 9.9% for men. On average, male motorists currently pay £536 a year for their car insurance, in comparison to an average premium of £425 for women.

MoneySupermarket insurance expert Kevin Pratt said: “Gender has always been a critical differentiator when pricing insurance premiums, with male motorists across the board bearing the brunt of a ‘boy racer’ reputation. The CJ ruling will mean insurers re-evaluate the way in which they set their prices, but we have yet to see any impact of this ruling on premium prices, with deflation continuing to be the main theme for all drivers.

“Even with so little time to go before the directive comes into force, insurers are giving nothing away. Premiums for female drivers are particularly competitive at the moment, so anyone whose insurance is coming up for renewal this autumn should make the most of the situation by shopping around now and securing a good deal - starting the process 30 or 40 days before renewal could yield an impressive saving.”