Quote Me Today

Quote Me Today

December 16, 2011 01:00 ET

QMT Comment on the Rise in Car Insurance for Women, While Premiums Drop for Boys

KENT, UNITED KINGDOM--(Marketwire - Dec. 16, 2011) - The European Court of Justice has announced a ruling to make premiums the same for men and women. This means that while car insurance would rise for women by up to 24% on average, it would significantly drop for men under 25.

Under the ruling, men under 25 who currently pay on average £2090 a year will see their premiums fall by £188, while women of the same age who pay around £1360 a year will see a rise of £326 a year.

Quote Me Today are expert car insurance brokers and have warned that this approach could lead to significant consequences for road safety, as more discerning young men will buy a sensible car anyway but boy racers may use the extra money to splash out on a faster, higher powered car.

A spokesperson for Quote Me Today, comments: 'In the past higher premiums for boys have been viewed as unfair for serious young drivers, but nonetheless a precaution for boy racers as figures show that this category have a higher number of accidents. If less conscientious drivers then go out and buy faster cars, it would make driving conditions less safe for others on the road.

'The hikes for women mean it is going to be important for them to find the cheapest car insurance deal but also to ensure they employ a specialist car insurance broker who has relevant experience and can get them policy which matches their needs'.

Overall, women of all ages will see a £900 million rise while men will see a fall by £600 million, despite them being ten times more likely to be involved in a serious accident.

However, Quote Me Today also provide motor trade insurance policies which is another area that this ruling will be likely to affect. Although potentially it could save the motor trade money on policies for the many young men who are employed within the industry, it could cost them more for the women who work within the industry.

The judgement on the changes in insurance came about in March and in a case in Belgium insurance firms were banned from using an individual's sex when performing risk assessments. The case referenced the Fundamental Charter of Human Rights in The Lisbon Treaty and the ruling is due for implementation next December.

Quote Me Today have a workforce of passionate insurance brokers who are dedicated to finding insurance policies from independent and high street firms that match their client's requirements and are the most quality, affordable options on the market. They specialise in car insurance, motor traders insurance, PI insurance and much more.

To find out if they could help you, visit their website www.quotemetoday.co.uk.

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