Car Insurance For Ladies: How Rates Change During a Woman's Lifetime

Are you overpaying for car, home, or renters insurance? Compare to find out in 45 seconds.
Quotes from up to 45 companies · No long forms · No phone calls
Car Insurance For Ladies: How Rates Change During a Woman's Lifetime
There are a lot of contributing factors when it comes to calculating the cost of car insurance. Believe it or not, marital status, home ownership, and the type of vehicle you drive can all be important components when determining how much you have to pay. For women, insurance rates are likely to fluctuate over a lifetime. In this article, five key factors are discussed: Factor 1 is that women generally pay lower rates than men, Factor 2 explains why teenage girls pay more than adult women, Factor 3 describes which milestones matter, Factor 4 mentions that women over 65 pay more, and Factor 5 talks about the importance of a clean driving record.

Factor 1 of 5: Women pay less for car insurance than men

Despite the fact that car insurance accommodates men and women throughout their lifetime, the rates are not created equally. For women, the good news is that car insurance is likely to cost less overall than it does for men, and rates will decrease with age. Statistics show that women are less likely to be involved in accidents, commit violations, and drive as many miles as men. Women also tend to choose safer vehicles than men of the same age.

Factor 2 of 5: Teenage girls pay the highest rates

All teenagers are considered risky drivers. They simply don’t have the experience or the sense of responsibility to be as safe as possible when they’re behind the wheel. Teenage girls, though less risky than teenage boys, see the highest insurance rates of their lifetime when they are just starting to drive. Insurance companies see them as an expensive investment and it takes several years on the road to lower that risk.
The good news is that teenage girls can potentially lower their car insurance costs by actions taken outside of the vehicle. Girls who prove to be good students or participate in a driver’s education class can usually see a reduction in their rates.

Factor 3 of 5: Life’s milestones equal lower rates

After surviving the teenage years, women will typically be relieved to see lower insurance rates once they hit their mid-twenties. This isn’t a hard and fast rule, but for most women, turning 25 means several years of driving experience and a decreased risk for accidents. This can vary if the driver hasn’t been insured from the age of 16 or hasn’t had their license as long.
Another milestone that often happens in a woman’s twenties or thirties is getting married. Believe it or not, marriage denotes lower insurance rates for both women and men. Married females usually see lower insurance rates than single females of the same age. Marriage can be synonymous with more responsibility and maturity, even in the insurance world, resulting in lower monthly rates.
There are other big moments in a woman’s life that can translate to lower insurance rates, though they might not be obvious. Home ownership doesn’t specifically sound like something that would lead to lower car insurance rates, but for a lot of companies adding home insurance to your plan can decrease the cost of your auto insurance. Similarly, owning and insuring multiple vehicles can lower your monthly bill.

Factor 4 of 5: Women over 65 will pay more

Just as teenagers get a bad rap for their driving habits, seniors can experience the same shift once they hit a certain age. Statistics show that women over the age of 65 are more likely to be involved in accidents than their younger counterparts. Senior women definitely won’t see rates as high as their teenage years, but the increase does come after years of being lower risk.
After enjoying decades of lower cost auto insurance, women can still help keep their rates low by enrolling in a defensive driving course or adjusting their insurance coverage based on how much they actually drive.

Factor 5 of 5: The key is a clean driving record

Even though women are known for choosing safer cars, committing fewer traffic violations, and submitting fewer claims, the key component in keeping the lowest insurance rates is their driving record. Rates will increase anytime a driver has been involved in an accident or filed several claims within the span of a few years. It is essential to maintain a safe driving record and seek out a plan that rewards you for good driving.
Women looking to lower their car insurance costs should focus on good driving practices, safer vehicles, and plans that fit their needs.