It has long been speculated whether or not women are better drivers. Is there any truth to this theory? The general public is not privy to the data that insurance companies have access to but rates indicate that this is the case. Insurance companies compile information about speeding tickets and accidents for all drivers in order to calculate the risk associated with certain groups. For instance, teen drivers and especially teen boys have a higher incidence of tickets and accidents than the average driver. Therefore, insurance rates for teen drivers are much higher.
Insurance rates for women are generally lower than any other group. Is it because they drive slower or more cautiously? In some cases this may be true primarily because of vehicle choice as well as the designation as primary transportation for children in the household. Statistics prove that men drive faster and have more serious accidents involving claims than most women counterparts. Men tend to choose faster, sportier vehicles to drive whereas women frequently drive more family-friendly vehicles. This is not to say that all men or women fall into these categories, however, majority rules in this case.
Specialty insurance companies have been popping up all over the world, catering specifically to women. By targeting the least expensive demographic to insure, these companies almost guarantee their own profitability. One such company is Sheila’s Wheels . They claim their insurance is designed with women in mind, offering options such as handbag coverage, female friendly repairers and more. However, even major insurance companies are now targeting women drivers in their advertising. Many have begun to offer additional policy options for women much like the ones offered by Sheila’s Wheels.
This new trend can be attributed not only to driving statistics but also to the fact that women are often in charge of household budgeting decisions. These budgeting decisions include things like insurance so by marketing specifically to women, insurance companies are more likely to garner their attention.
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