Car Insurance Premiums Drop By 6%

Car insurance premiums have dropped by 6.25% below June 2011’s record level of premiums. However, females are already seeing an impact following the EU gender ruling that is due to come into force in December 2012 that does not allow insurance companies to take gender into account in its insurance assessment of premiums.

494062 that hurt Car Insurance Premiums Drop By 6%Car insurance quotes are monitored each month and this revealed that female drivers are not doing as well as males as far as market inflation is concerned. Car insurance for females has steadily risen with males now, on average, paying 6% more compared to 12% more in March.

In June, the average premium fell by 0.6% compared to May with males seeing premiums drop by 2.3% but females’ premiums increasing by 1.2%. A female aged 20 saw her premium increase by 11.4% in the month.

The average premium for a male in March 2012 was 12.4% more than for a female. In April it was 10.3%, May 9.8% and just over 6% in June.

It has always been accepted that male drivers, in particular those below age 21, are charged a lot more than a female of the same age because they are more likely to have a road accident whilst being at the wheel. For example, last month a male age 17 to 20 paid an average £3,635 pa but a female age 17 to 20 paid £1,869.

It is expected that when the above ruling comes into force in December that premiums may reduce for males and increase for females.

Therefore it is important that you try to obtain the best deal on your car insurance and shop around to do so. One way to compare car insurance premiums is by going on the Internet and onto a car insurance comparison website. However, make sure that the cover you are being offered matches your requirements.