New Insurance Regulations will Hit Women Hardest

New Insurance Regulations will Hit Women Hardest

London : United Kingdom | Sep 05, 2012 at 3:14 AM PDT
Source: PRWeb
Views: Pending

5 September 2012

From December 21st this year, insurance companies will no longer be allowed to use gender as an influencing factor when setting the prices of insurance policies. It is unlikely that the price for young male drivers to insure their vehicles will be reduced, so young women drivers can expect to see a significant hike in the price of their policies, with some experts estimating as much as 25 – 30%.

Historically, young male drivers have always been charged more for their car insurance because the statistics show they are more likely to be involved in an accident than young female drivers. Statistics released by the DfT from 2011 and reported by the Herald in Gloucestershire back this up, with reports that males accounted for 169,506 accidents in 2011 in comparison to females who were involved in 77,583; around half as many.

The move comes after a European Court of Justice’s decision ruled that the practice of setting prices based upon gender was illegal and enforced a ban on this practice which will come into force just before Christmas 2012.

Leading car accident claim UK company, the Accident Advice Helpline, said the cost of insurance shouldn’t be the focus of young drivers attention.

“We deal with giving car accident advice to members of the public from all demographics. Young, old, male and female all come to us for accident claim help.” said a spokesperson.

“If young people are concerned with keeping their insurance premiums down,” he continued, “they should focus on improving driving skills and driving safely, because by having to make a car accident claim UK residents will notice the price of their premium will increase significantly.”

People who have been involved in an accident on the road that was not their fault can contact the Accident Advice Helpline for free car crash claims advice. Their accident helpline is open 24 hours a day and all advice is given in confidence.

For the original version on PRWeb visit:

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