New European-wide insurance rules come into play today which will means insurance companies won’t be able to charge different rates for different genders.
For years, it’s been a given that men pay more for their car insurance compared to women because statistically the ladies have fewer accidents. However, a March 2011 European Court of Justice ruling, which meant stopping insurance companies from charging different rates for men and women, has finally come into force.
The move is going to see female drivers – especially younger drivers – paying up to 40 per cent more than they have previously. As for us blokes, the ruling isn’t going to have much of an effect on our premiums.
Motoring experts suspect that ‘telematics insurance’ will begin to become common practice among insurers. That means that we could see devices being installed in cars that can read how drivers act behind the wheel. This way, insurers will be able to charge rates based on how erratic someone drivers regardless of gender.
