Women Pay More for Car Insurance in Some States, Report Finds

Women 35 and older tend to pay more for automobile insurance, especially in Florida and Alaska, an insurtech company study found.

Young men usually pay much more than young women do for car insurance. But by age 35, women are paying significantly higher premiums — an average of $370 per year in Florida — than do men of the same age, the same driving history and with the same vehicle, according to the report by QuoteWizard.

Drivers in Alaska saw the biggest difference in gender, about $378 per year, said QuoteWizard, an app and website owned by LendingTree that lets users compare insurance prices for a range of products. Arkansas showed the smallest difference, just $1.

The study examined thousands of quotes for full-coverage car insurance in random ZIP codes across the country, for drivers 18 and 35 years old with excellent credit and no accidents. The vehicle used for the comparison was a 2012 Honda Accord LX with 16,000 miles on it, the report noted.

A Florida TV station, NBC2 in Fort Myers, made its own comparison and found that a popular Florida car insurance carrier showed a $194 yearly difference between a 30-year-old woman and a 30-year-old man.

“Why do women see higher rates than men when they’re older? There is currently no clear answer,” the QuoteWizard report said. A 2017 report by the Consumer Federation of America found no clear risk factor in women’s driving histories that would explain the differences, the report noted.

Recognizing the discrepancies, some states in recent years have prohibited insurers from using gender as a factor when setting premiums. These states include California, Hawaii, Massachusetts, Michigan, Montana, North Carolina and Pennsylvania.

There was a small consolation for female drivers. The QuoteWizard report found that after an accident, ticket or driving-under-the-influence violation, premiums escalate but women often pay slightly less than men.

Topics Auto