Mythbusting: Why Are Women Paying More Than Men For Car Insurance?

Mythbusting: Why Are Women Paying More Than Men For Car Insurance?

 

This line of thinking has been around since car insurance was invented…it’s time to shed light on this topic, and bust this myth for good… Conventional wisdom usually dictates that, all else being equal, women pay less for car insurance premiums than men because they’re inherently safer drivers. To be sure, the National Highway Traffic Safety Administration confirms that male drivers cause 6.1 million accidents annually, while women are at fault in 4.4 million crashes per year. Yet women are actually more likely to pay higher rates than their male counterparts, according to research just completed by the Consumer Federation of America (CFA), an association of more than 250 non-profit consumer groups. […]