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Male vs. Female Car Insurance Rates

male vs female car insurance rates

Gender can play a role in determining your insurance rates depending on the state you live in. However, as topics about gender continue to be at the forefront of conversations today, there is an effort to include a third self-identification option on driver’s licenses. At the same time, some states don’t look at gender when calculating premiums, to begin with.

States that do include a third gender option on driver’s licenses include Oregon, Washington, California, D.C., Maine, Colorado, Minnesota, and New York. Meanwhile, in California, North Carolina, Massachusetts, Hawaii, Montana, and Pennsylvania, it is illegal to look at people’s genders when creating car insurance policies. This post takes an in-depth look at insurance rates for men and women and what else goes into setting your insurance rates.

How do Car Insurance Companies Set Their Insurance Rates?

Every single insurance company prices its policies differently. That’s why it’s best to shop with multiple insurers before making your decision. The factors depend on not only yourself but also the car you are insuring.

Here’s what insurance companies look at when it comes to your car:

  • Make and model - Also, whether it’s foreign or domestic. This will tell the insurers more about the car’s age, size, and cost.
  • The garage you keep it in - If you keep your car in a garage, it will be much safer than sitting in a driveway. Thus, garage owners pay less for car insurance.
  • Yearly mileage - How much you drive in general tells the insurance company a lot about you. If you don’t drive much, then there are special policies for you.
  • Anti-theft measures - The more safety features a car has, the less the insurance premiums will be. Having new systems installed on your car can also have the same effect.

Here’s what insurance companies look at when it comes to you:

  • Driving history - Of course, your auto insurance provider will want to know how well you drive. Safe drivers with clean histories tend to get the lowest rates.
  • Prior insurance and claims history - A look into how often you file claims can be a big indicator of how much of a risk you pose as a driver. Any lapses in your insurance coverage will also be noted.
  • Where you live - Your zip code is a big indicator of insurance rates. If you live in a city rather than the suburbs, then you can expect higher insurance rates due to crime and traffic.
  • Your age - As a general rule of thumb in the car insurance world, young drivers between the ages of 16-25 tend to carry higher premiums, especially if they are aged 16 to 25. This is mainly due to the fact they don’t have much of a driving record yet. Meanwhile, senior drivers are also known to have higher-than-average premiums.
  • Credit score - Your credit score shows how reliable you are when it comes to making payments. Your credit score also follows you into other aspects of life, like renting a place.
  • Marital status - Insurance providers have found that married couples are more careful drivers than people that are single. Therefore, they can get lower premiums.

What do Female Insurance Rates Look Like?

Let’s take an in-depth look at how car insurance rates change for a female driver as she ages and go about her life.

  • A 16-year-old female driver may be looking at a yearly premium of $6,479.
  • A 20-year-old female driver may be looking at a yearly premium of $2,862.
  • A 25-year-old female driver may be looking at a yearly premium of $1,706.
  • A 35-year-old female driver may be looking at a yearly premium of $1,573.
  • A 45-year-old female driver may be looking at a yearly premium of $1,470.
  • A 55-year-old female driver may be looking at a yearly premium of $1,346
  • A 65-year-old female driver may be looking at a yearly premium of $1,378.
  • A 75-year-old female driver may be looking at a yearly premium of $1,615.
  • An 85-year-old female driver may be looking at a yearly premium of $1,920.

What do Male Insurance Rates Look Like?

Let’s take an in-depth look at how car insurance rates change for a male driver as he ages and go about his life.

  • A 16-year-old male driver may be looking at a yearly premium of $7,381.
  • A 20-year-old male driver may be looking at a yearly premium of $3,385.
  • A 25-year-old male driver may be looking at a yearly premium of $1,784.
  • A 35-year-old male driver may be looking at a yearly premium of $1,556.
  • A 45-year-old male driver may be looking at a yearly premium of $1,468.
  • A 55-year-old male driver may be looking at a yearly premium of $1,380.
  • A 65-year-old male driver may be looking at a yearly premium of $1,426.
  • A 75-year-old male driver may be looking at a yearly premium of $1,694.
  • An 85-year-old male driver may be looking at a yearly premium of $2,053.

Car Insurance Rates Are Typically Higher For Men

You can see by the data above that car insurance rates are often higher for men than rates for women. This is because insurance providers discovered that men are more likely to make riskier moves on the road while women tend to be more careful.

However, you may have noticed that towards the middle of their lives, the insurance rates only have a $2 difference, and it’s the mens’ rates that are lower (but only slightly). The amounts listed are averages and are intended to give you a feel for rate pricing based on gender.

Depending on the insurer, you may be able to find better rates. There are providers that even offer the same rates for male and female drivers when they are 25. That is one of many things that highlight how important it is to shop around with multiple insurers -local and national. However, there will still be an average $500 difference in rates if they are new drivers.

Why Are Rates For New Drivers so High?

New drivers, regardless of gender, will always pay far more than the average because of their status. Being fresh out of driver’s ed means that you have a nonexistent driving record. The insurance providers aren’t familiar with your driving habits; they have assigned you the rates of a high-risk driver likely to cause an accident. Of course, the goal is that you prove them wrong by being a safe driver as you get older. By the time you’re 25, your rates should level.

Don’t let high annual premiums stop you from driving insured. Contact Insurance Navy today for your free SR-22 quote and see for yourself how cheap coverage can really be. Call us at 888-949-6289 or use our mobile app to request a quote. Agents are also available to help you in person at one of our many storefronts.

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