Among chauffeurs that are 30 or older, and also have had no violations or mishaps within the previous 3 years, vehicle insurance coverage prices vary little by gender. However, for young vehicle drivers, men pay approximately 23% even more in insurance policy prices each year than their female counterparts, with 16-year-old males balancing $344.78 each month versus $280.56 for 16-year-old ladies– a difference of $770.64 per year.
As vehicle drivers grow older the gap in costs shrinks, with both male and also women 30-year-old drivers paying almost the exact same for auto insurance coverage.
Why is this the case? Insurance companies consider data trends revealing that boys have a tendency to drive more frequently, obtain a lot more speeding tickets, be associated with even more accidents, and obtain even more DUI convictions than girls. Due to the raised likelihood that the vehicle insurance company will need to pay out for an insurance claim by insuring these chauffeurs, they charge much more for protection.