When it’s time to shop for a good car insurance rate, gender plays a role. It’s just one factor used by insurers to determine premiums, but many aren’t sure why it’s a factor to begin with. In this guide, drivers will learn why, when all else is equal, women usually pay less than men for Auto Insurance in The Woodlands TX.
Frequency of Accidents
Women are statistically less likely than men to be involved in car accidents, according to information from the National Association of Insurance Commissioners. That means insurers don’t pay as many claims for female drivers. Furthermore, because men are approximately 10% less likely to wear their safety belts, they face a greater risk of severe injury and high medical bills. Because a person’s driving record is such a crucial factor, a cleaner driving history usually means a lower rate.
Speeding tickets are an indication of risky behaviors and higher accident risk, and having several may drive up a person’s auto insurance premium. The NHTSA reports that, in fatal traffic accidents, speeding is a more significant factor for males than for females (24% versus 15%).
DUIs and Gender
DUIs and other impairment offenses have a substantial and almost immediate effect on insurance premiums. In 2013, the FBI reported that over 536,000 men were arrested for driving under the influence of drugs or alcohol, compared to just over 174,000 women.
The kind of car a person drives also affects their monthly insurance premium. Men are typically more likely to choose models that are expensive to insure. Auto insurance companies consider vehicles’ claim history and safety ratings, and the safer a car is, the less it costs to insure.
Gender Isn’t a Top Rating Factor
Although it may seem unfair that men pay more than women for Auto Insurance in The Woodlands TX, men can take comfort in the fact that gender isn’t a primary factor. A person’s driving and claims histories play a much more significant role, which means that a cautious male driver will probably pay less than a risky female driver. Visit us to learn more or call the Insurance Offices Texas to request a quote.