Monday, 14 January 2013

European Ruling on Car Insurance Means Premiums for Women Will Rise

Did you know that the rules regarding car insurance changed on December the 21st 2012? Since that date it is illegal for insurance companies to offer different prices based on whether you are male or female! Women drivers have been hit the hardest as their premiums have risen to match the premiums men pay for insurance, despite insurance companies previously assuming women were less likely to claim.   

Young lady drivers have been the hardest hit. The average price for 17 or 18 year old females have risen on average 32% whilst 17 or 18 year old male drivers have seen their premiums fall by 10%. 
*** Information taken from Moneysupermarket.com ***




Because of this change, it is more important than ever to compare car insurance when renewing your car insurance. NEVER assume your renewal will be the cheapest!

Last year I was shocked to see that my renewal had risen, in fact it had doubled from £400 to a whopping £800! It didn't make any sense as none of my information had changed; I hadn't been in an accident whether at fault or not, my licence was still clean with no points, my car was a year older and worth less and I was a year older with more experience  Yet my insurance had doubled and this was before the ruling had taken effect!

Thankfully I compared prices to make sure I could find the best deal and I managed to save £400 as I found another insurer who offered me half the amount my previous insurer had offered!

This is why it is always important to compare prices!


*** This is a sponsored post ***

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