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Women drivers already seeing hikes in insurance premiums

posted on Dec 19 2012 by Sam Jones

Women drivers already seeing hikes in insurance premiums

Despite the European Court of Justice gender equality ruling not going into affect until next Friday, women are already experiencing a 15% increase on their car insurance premiums. The new ruling change will prevent insurers from offering cheap car insurance policies based on gender when it comes into force on the 21st December.

Younger male drivers were once considered to be a more significant insurance risk than their female counterparts but the imminent ECJ decree has resulted in a large rise in the cost of premiums for women motorists. Since November, women aged 17-18 have seen their average insurance premium increase from 2,191 to 2,472. It is expected that female drivers aged 17-25 will be the worst affected with their average premium jumping more than 500 to 2,599.

Despite the full effect of the ruling not being known until next week, these recent hikes are considered to be an accurate prediction of how the market will develop. There are also growing fears that these rising costs will price young people off the road, with a falling number of quotes being offered to younger motorists already being noticed.