In the past, women have generally paid lower insurance premiums than men, simply because they are statistically safer drivers. However, as a result of EU gender rules, women have probably seen a change in cost, with sharp increases being implemented to bring the cost of cover for women in line with the cost of cover for men.
This has obviously come as bad news for women drivers, as it has resulted in potentially pounds more being added to the average annual car insurance bills. While there is little that can be done about the EU gender rules, there are other steps that women can take to try and bring their car insurance premiums back down.
Tips to help women cut the cost of car insurance
In the current financial climate, many women are eager to reduce their outgoings. This includes cutting the cost of car insurance, particularly following the increase in changes for women. Some tips to help women cut the cost of their car insurance include:
- Look for competitive deals on your auto insurance: The amount you will pay for your car insurance will depend on a number of factors, including the provider and the plan that you choose. Make sure you keep your eyes peeled for competitively priced plans that will not result in you having to compromise on levels of coverage.
- Increase your excess: You can reduce the cost of your insurance cover by increasing the amount of excess you are prepared to pay in the event of a claim. Do bear in mind, however, that this means that you will have to pay more from your own pocket in the event that you have to make a claim.
- Increase security on your car: If your car is not already properly secured with the likes of alarms and immobilisers, consider having this done, as it can bring the cost of coverage down due to the reduced risk of theft of the vehicle.
- Pay for your cover in one go: You can often access more competitive deals and avoid interest charges by paying your insurance premiums for the year in one go, rather than paying in monthly instalments.
- Opt for a more suitable car: Bearing in mind that insurance costs can be heavily affected by the type of car you have, consider opting for a more cost effective vehicle. A lower powered one, for example, could help to reduce the cost of your coverage.
All of these are simple, yet effective, ways in which women can try and cut the cost of car insurance to bring it back down to a more affordable and reasonable rate.