Young driver car insurance news
07/05/2010
Figures for female driver premiums rising
There may soon be a significant narrowing in the gender gap that currently exists in the cost of young driver car insurance, according to Confused.com.
This comes after the release of figures which detail a £66 average rise in the cost of young driver car insurance annual premiums for women motorists between the ages of 27 and 30; a 17.3% increase, which is considerably in excess of the market average.
"In pure monetary terms, younger females still pay less and younger females cost insurers less overall in claims than younger men. But the recent larger increases affecting women suggest that many insurers are narrowing this price differential between the sexes at younger ages," commented a spokesperson from actuarial consultants EMB.
Young driver car insurance is certainly getting more costly for motorists in the 17-20 age bracket; as an age group, these drivers experienced the biggest rise (6.6%).
A Confused spokesperson commented, "These figures come from over 13m real quotes on Confused, so they give a true barometer of the state of the market. We expect that the price rises taking place across all age groups will cause even more consumers to seek good value alternatives when their policies come up for renewal."
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