Is car insurance cheaper for men or women?

Car insurance rates in Texas differ depending on the insurance company. Also there are several considerations that every insurance company looks into to determine the amount that it should charge on a policy. These include the car insurance laws, neighborhood, gender and age. The rates also can go up if one has an accident history. Basically, the risk factor plays the biggest role in determining policy rates. Comparing the rates for male and female clients, it is clear that the rates are relatively cheaper for women in almost all the companies.

In Texas, insurance companies seem more expensive for men below the age of 25 than for women of the same age. The companies offer between $617 and $1568 for women while offering between $678 and $1836 for men. This changes for women above the age of 25 but below 45 as it becomes more expensive for them than for men of the same age bracket. Three of the companies were offering $566, $508 and $495 for women while offering $562, $495 and $488 respectively for men in the same age bracket. Above age 45 then the policies tend to be expensive for men than for the women. The ranges are between $447 and $763 for women while for men, they are between $449 and $855. The insurance rates get cheaper for both men and women as they get older though. The average rates for all ages are $744 for women and $822 hence averagely men get to pay $78 more than women for car insurance.

There are several explanations as to why women pay less on average than men for car insurance. Basing on my research in the differences between men and women who do their car insurance shopping online, women are less likely to have a DUI/DWI, reckless driving and severe speeding history on their record as compared to men. This kind of traffic violations will raise the rates you will get charged. Insurers tend to treat these violations; even if they did not cause accidents as indications that one is likely to be involved in an accident in the future. The difference goes even up to 50%. Considering drivers with a moving violation on their record, approximately women are 10% less likely to have one.

Car insurance for women can cost less because they also tend to own cheaper cars. This goes to an average list price of 8% lower than that of the vehicles owned by men. Expensive cars will cost the insurance more to replace if involved in an accident hence their owners who are most likely to be men pay a higher rate for their insurance. For the drivers between age 18-25, gender has been seen to determine the rates. Male teens have been found to be more reckless and dangerous drivers than the females' hence higher rates for the men. When a woman is listed as the primary driver they do not buy a car insurance policy with multiple drivers. Most of the men tend to buy car insurance for multiple drivers which is more expensive than that for a single driver. It is also good to know that the best car insurance may not be the cheapest. You can be able to save some money if you do a good research and learn more about how the rates are determined.