Insurance quotes for women drivers rise as companies gear up to comply with EU ‘gender-neutral’ rules, says comparison site
The best price a woman can typically get for her car insurance has jumped by £114, or 15%, since November, as insurers prepare to comply with European “gender-neutral” rules from next week, according to a price comparison website.
The cheapest quote being offered to women is £862 on average; six weeks ago the best price was about £748, according to Gocompare.com, which analysed searches for car insurance quotes made for women of all ages on the website, including comprehensive cover and third-party policies.
The site, which monitored more than 10m quotes since January 2011, said it was the biggest shift it had seen in premiums. The typical best price for women aged 17 and 18 has risen to £2,191, a £281 increase.
The gender-neutral rules stem from a European court of justice ruling last year which prevents insurers from considering a customer’s gender when calculating a fee for their car or life insurance, or what their retirement income should be.
Women have traditionally benefited from lower car insurance premiums because of lower accident rates. Men have tended to receive higher annuity rates because of a lower life expectancy, while life insurance has been cheaper for women.
