I couldn’t believe my ears when my insurance agent first told me.
The year was 2006, and I was in the process of buying my first car. After agreeing to a price with the dealer and arranging a car loan, I just had one more step to do, and that was get insurance.
Long story short, I was quoted more than $2,000 annually for insurance. It wasn’t so much the price that shocked me — since I had done my research beforehand — but rather what the agent said to me afterwards.
“Did you know” he said, “that you’d be paying about $500 a year less if you were a woman?”
I was shocked. It wasn’t that I cared women got cheaper insurance, as long as I got it too. But it wasn’t happening.
Why exactly do women pay less? Let’s take a closer look.
While my experience of paying 25% more for the same insurance compared to a woman is an outlier, according to Insureye, the average auto insurance policy for a woman is about 5% less than the average man’s policy.
That’s not a huge difference, but enough that it’s noticeable. So why exactly are women getting a better deal?
The explanation is pretty simple. It turns out that women are, on average, slightly better drivers than men. They drive slower, are less aggressive, and when they do get into an accident, they have lower claim amounts than the average male driver.
There are other, secondary reasons why women pay less. Generally, when men and women go anywhere together, men tend to drive. That means women are collectively driving a little less than men, which automatically makes them safer. It’s hard to cause an accident from the passenger seat.
Think about your experiences during family road trips as a kid. If they were anything like mine, Dad drove while Mom shouted at everyone in the back seat to shut up.
It’s more than just driving
When buying other types of insurance, it’s still better to be a woman. Women, on average, pay 8% less for home insurance, and a whopping 25% less for life insurance in Canada.
The life insurance differential is pretty easy to explain. Women live, on average, more than five years longer than men. And since they’re safer drivers, they’re less likely to die while driving, which is a major cause of death for young men. Additionally, women are less likely to commit suicide.
The house insurance difference is a little harder to explain, but readers should note the difference shrinks to virtually nothing in Ontario, Canada’s most populous province.
It turns out that women do spend less than men on just about every form of insurance, but there’s a pretty good reason for it. It’s because they’re far less of a risk. So unfortunately for the guys reading this, it looks like we’re stuck paying the higher rates until we collectively become safer.
Discover the Benefits of AIG Car Insurance for Women
At AIG, our priority is protecting you every step of the way. So you’ll have peace of mind knowing we’ll be there with you, covering you on your every journey so you can get on with everything else. Whether it’s cover for your personal affects, breakdown assistance or windscreen cover, we’ll be there when you need us. Some of the benefits of our car insurance for women include:
Comprehensive cover from €310
Comprehensive cover at an exceptional rate.
Get real value for your driving experience with our comprehensive car insurance quotes for women which include a wide range of benefits.
Look after your personal items
Look after your personal items
Everyone values their possessions. We’ll provide replacement cover of up to €300 should your personal items be stolen from your car.
Being left stranded at the roadside isn’t something anyone wants to think about. We provide full Breakdown assist as standard on all of our Car Insurance policies.
We know that the extra benefits matter. That’s why, for example, we won’t change your No Claims Bonus if you need to claim for Fire, Theft or Glass.
Damage to your windscreen is one of those frustrations that everyone can do without. We offer unlimited windscreen cover with selected repairers.
If you want to bring your car abroad, we think you should be able to. That’s why we provide up to 45 days cover to you if you want to bring your car to Europe.
Why AIG Car Insurance For Women?
Finding the right cover to suit you can be a tricky thing so at AIG we want to make that discovery as easy as possible by offering a wide range of excellent benefits with great value car insurance for women so that every journey is not only covered but enjoyed knowing you have much more than just insurance.
Get discounts on your premium
With our XLNTdriver app you could get up to 20% discount on your Car Insurance premium.**
Exceptional Claims Service
Exceptional claims service
Not only will you have access to our digital claims service tool at all times you’ll have one dedicated agent throughout your claim.
Here to help
We’re here to help!
Our Car team is available weekdays between 9am — 6pm to answer any questions you may have.