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Cheap Car Insurance For Women

Written by W. Lane Startin. Posted in Research Last Updated: 11/08/2010

Why there isn’t a “woman’s discount,” how women can save money on car insurance, and how to best utilize discounts.

Cheap car insurance for women

Women have the advantage!

While many things in today’s marketplace are geared towards women, the fact is car insurance really isn’t.

While rates among the sexes may not be entirely equal, the auto insurance shopping process by and large is.

One might be tempted to look for auto insurance discounts specifically tailored towards women.

However save yourself the energy: they don’t exist.

An Even Playing Field for Women… sort of

Insurers have to be very careful to tailor their rates and discounts based on tangible statistical data. Giving special discounts to women or making cheap car insurance for women (or to men, for that matter) without any other statistical qualifiers is considered discrimination, and that’s illegal.

That said auto insurance rates for women do tend to be slightly lower than they are for men, all other things equal. This is just as true at age 18 as it is at age 65. The reason for this goes back to statistics. Across the board women are involved in slightly fewer accident and claim situations than men are. Therefore, they pay less in premium. Rest assured the old sexist stereotype of a “woman driver” simply doesn’t wash in the insurance world. If anything, the opposite is true.

Women: Do Your Research

The best way to get cheap car insurance for women is to shop around. Rates from company to company can and do vary a lot, so a little research can do a whole lot of good. When shopping for car insurance, be sure to provide the full VIN for all vehicles, how many miles you drive to work, who drives your vehicle and how many accidents or claims you’ve had in the past five years.

Don’t lie on the latter point, underwriters will find out if you do.

Make sure you quote the same deductibles and liability limits when you shop for auto insurance. A good benchmark to use is a 50/100/50 split limit or $100,000 combined single limit (CSL) for liability, and a $500 collision and $100 comprehensive deductible for full coverage.

Sensible automobiles are cheaper to insure than exotic sports cars. While it may bruise your ego a bit to drive a minivan, at least you can take solace in the fact it’s nowhere near as expensive to insure as a sports car.

Remember different insurance companies look at different things when considering quotes. Too much information is better than not enough.

Ladies Should Look for Discounts

Auto insurance discounts are commonly available for women who bundle insurance coverages with the same company. Insurance carriers routinely offer auto insurance discounts to individuals who buy homeowners or renter’s coverage from them.

Some companies also offer auto insurance discounts with a life insurance purchase. By the way, all things equal women get better life insurance rates than men because – statistically speaking – they tend to live longer.

Many insurance companies offer discounts designed to attract business from young families. For example, some companies offer a “new parent” discount for women (and men) who have small children, typically preschool age or younger. Older drivers can take advantage of discounts by taking defensive driver courses.

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W. Lane Startin

Lane is a former insurance agent with two well-known and highly rated companies. He left the world of insurance sales to return to his first love, writing. He enjoys helping people unravel the intricacies of insurance without the bias created by working for commission. He’s a graduate of Idaho State University and by extension a long-suffering Bengals fan. Lane blogs at Car Insurance Guidebook.

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