(Posted on Sep 5, 2018 at 04:29AM by Patrick Wensink)
Dear Patrick,
My wife and I bought a new Nissan Sentra and are having a friendly $1 bet that you can solve. She claims women pay less for auto insurance than men. I say everything’s equal. Who is right?
-Brandon
Hey Brandon,
Always happy to help settle a little disagreement like this. Brace yourself, but she is correct. More times than not, females have lower premiums than males. Once you finish ponying up the cash, I’ll tell you why. (Take your time!)
No, these companies aren’t being biased. They are simply analyzing statistics. On average, women:
Are involved in less wrecks.
Get fewer traffic violations, including really serious ones like driving under the influence.
Purchase cars that are not as flashy or fast.
So, by those numbers, a high percentage of gals are safer drivers who often choose a practical car. That’s catnip to a risk-averse organization like auto insurance. While not every female motorist falls into these categories, more do than men. Thus, the smaller bills.
So, if you ever want to take a chunk out of your premium, you could do worse than learn a few things from the ladies on the road.
Let me know if there are any other bets I can solve.