When it comes to women drivers every man seems to have a joke up their sleeve, but at the end of the day it’s women who are laughing when it comes to insurance premiums. The insurance companies have had their number crunchers look at the claims data, and it’s true – women make the better drivers.
As a result women have been rewarded with a number of specialist insurers who will insure them while boyfriends and husbands will have to look elsewhere.
These insurers claim to be able to offer lower premiums while ladies make for safer drivers, but MoneyExpert data suggests that women could be better off looking for a standard insurer if they’re simply interested in price.
MoneyExpert data on a sample of cars revealed that the average female car user, with a good driving record, could expect to save £72 by taking up a deal with general insurer rather than a women only deal.
On a 2002 Citroen C5 for example the average Swift Cover offered the most competitive deal at £198 while Shelia’s Wheels, the best of the women only insurers was only able to offer a quote of £225. Mark’s and Spencer Insurance, Express Insurance and More th>n all came in cheaper than Sheila’s Wheels.
The same was true on 2002 Ford Focus. Sheila’s Wheels quoted £185, while Diamond another of the women only insurers quoted £211. This compares unfavourably to Swift Cover, Liverpool Victoria, Autotrader and Budget were able to quote £146, £154, £165 and £177 respectively.
A denting cost
Drivers have had a tough time of late with both petrol costs and the taxes imposed on drivers shooting up. Insurance may seem like a burden but it’s against the law to drive without it and when you think about what you get in return for your money on some policies it does provide value for money.
Generally speaking about 50% of your money goes towards paying claims, while a further 25% goes on the legal cost of processing claims and further 25% goes towards the running cost of your chosen insurer.
The little extras
If you take your time to read through your policy you could find yourself covered for just about every eventuality. Lloyds TSB for example will reimburse your satnav unit up to the value of £1,000 while some Zurich policies will cover the personal belongings in your car up to the value of £1,000, leaving you with great peace of mind.
Cruising for bargain
Whatever your gender, getting the best deal is likely to involve a good deal of searching and setting aside a bit of time to read through the details.
Remember that cost shouldn’t always be the bottom line with insurance, and if you want to be covered for the little extras then expect to pay a bit more. Go online as many of the insurers offer discounts of as much as 10% for buying using their website.