Young male car insurance customers being charged extra than the female counterparts

A new study has revealed that a major chunk of the young male motorists are paying extra amounts for their car insurance premiums. Past statistics show a greater number of young male motorists making higher and more expensive claims than most of the female motorists. Car insurance comparison sites often process different quotes for different genders. The study reveals that young females are offered considerably cheaper quotes than the male young drivers.
Car insurance premiums are often based on different characteristics including the gender of the car insurance customer. Premium prices for the male gender are being pushed up when it comes to car insurance. The simple logic behind such a differential pricing is the likelihood of young males over-speed on the UK roads. Young motorists who are males and who have been convicted for speeding are liable to pay an extra 12 percent on their car insurance products.
The research conducted by a leading insurance comparison website revealed a considerable difference in the insurance premiums between young males and females for a same car model and at the same age. After only a year’s experience of driving on roads, these high premiums can start reducing that can go up to 50 per cent of the initial amount as they approach their thirties. According to the survey, male motorists have to pay higher insurance premiums than the females of the same age until they get as much as 50 years of age.
It is the image of a racing spirit and greater likelihood of over speeding on the roads that the young male motorists come with naturally. Insurance companies would want safer, mature and careful drivers but if they have to insure complete opposites, they charge a higher premium for the amount of risk involved.
There is a high need of specialist car insurance for the young drivers that can offer quotes based on their driving skills, experience and claims history rather than just a imaginary tag of being a racer or a mature driver.
Get low cost insurance when you use car insurance comparison sites online to compare insurance quotes.
youngdrivers 300x199 Young male car insurance customers being charged extra than the female counterparts