It is somewhat interesting to note that car insurance for a woman is often cheaper than that for a man of the same age.
There are many reasons that insurance companies can legally ask for less money to give the same policies, but most would point out that, statistically, women are in less traffic accidents than men, and therefore tend to be viewed by insurance companies as a less risky driver to insure.
This is not just a guess! Naturally insurance companies cannot just claim these things, and will often take into consideration national traffic data along with insurance industry statistics to ensure that their reasoning is sound and just.
For example, car insurance for a woman might be less because national statistics prove that younger men of a certain age account for a large number of traffic violations and accidents.
Insurance statistics also add up to the fact that female customers making claims tend to have a lower total cost of repairs than males.
The times they are a changin' Interestingly enough, trends are beginning to change and not all companies are sticking with a different set of costs for men and women.
Additionally, there are some companies that are now geared entirely around coverage for women and these offer additional features such as roadside assistance, courtesy cars, and even coverage for their driver's handbags in the event of theft of the car.
When a policy offers only car insurance for a woman the total cost is not derived strictly based on their gender of course.
A woman with a bad history for traffic incidents or violations, who maintains a low credit score, or who is unmarried and owns a single vehicle with high annual mileage might see their monthly premiums even higher than a male of the same age and driving the same car.
It is also important to note that a woman who adds a male family member to their policy may see any discounts removed at the time that the additional person is added.
Like all others seeking auto insurance, a woman will need to be assessed based on the amount of risk they represent to the insurance company.
Naturally, a savvy female shopper will apply the same standards to their potential insurance company and look at the insurance rating and performance data on any that they contact.
If their financial stability is not very good, it is best to seek out other alternatives.