Young males are being charged twice as much for their car insurance than female drivers. The average insurance quote for a male driver aged between 17 and 20 is £3,730, but a woman of a similar age would be charged just £1,959, that’s £1,771 less.
The price gap between the sexes increased in London, where the average male aged 20 years or younger can expect to be quoted £5,523 to insure his first car, whereas females would be charged £3,261.
Last year, average cost of insuring a car for young drivers soared to a record high of £3,688 a year, despite figures published by the Department for Transport showing that while fatalities in reported accidents involving young car drivers accounted for 24% of all road deaths in 2010, it was a fall of 23% from 2009.
Be aware though these figures only relate to private car insurance. New EU legislation outlawing underwriters basing premiums on gender kick in towards the end of the year so the disparity will be gone. However at Tradeplan our motor trader insurance policies do not discriminate between genders already.
