According to Miway’s research on accidents by age and gender, younger women are considered better drivers than men, while older men are considered better drivers than women.
According to Miway’s research on accidents by age and gender, younger women are considered better drivers than men, while older men are considered better drivers than women.
While this means that young women, on average, are in less accidents than men of the same age group, resulting in some female drivers paying less for their insurance premiums than men, many other factors are involved in determining premiums over time.
Other aspects, such as driving history (including accidents), vehicle type, location, and coverage options, play a significant role in determining the cost of car insurance, and these will differ from person to person.
Ultimately, whether or not premiums are cheaper for women than men, it’s important for insurance to reflect the asset it is covering, which will also be influenced by the age and mileage of a vehicle, whether it is still being paid off, if third-party insurance cover is included and if other value added products (VAPs) such as dent repairs or car hire services, are included.
Ensuring that sufficient car insurance is properly considered is just one facet for women to protect their hard-earned assets. According to Lightstone’s recent property ownership stats , 38% of properties in South Africa are owned by women.
This means many women require sufficient insurance on their homes as well as their vehicles. Just like car insurance, buildings insurance shelters against unexpected costs if a property becomes damaged, such as if there is a fire or flood.
Owning assets like cars and property is a facet of modern life that requires maintenance and protection. Accidents can unfortunately happen and often when we least expect them. This reality makes it more essential to ensure that short-term insurance is in place, up to date and sufficient for the risks it covers.
