Which Gender Pays More for Car Insurance?

COSTA MESA, Calif. - Nov. 14, 2022 - PRLog -- If it seems sexist to you that gender plays a large role in car insurance, several states would agree with you. While it's no longer legal in seven states for insurance companies to rate their customers based on gender, insurers in most of the country are doing just that. Certainly, gender is not the only factor used to derive a car insurance rate, but it is an important one in most states. Overall, women pay less than men when it comes to car insurance, but at certain ages, there's hardly a difference.

According to our internal data, across the board, women, on average, pay $14.49 less a month than their male counterparts: That's $174 more a year.

According to the Insurance Institute for Highway Safety (IIHS), 13,153 men died in car crashes in 2020, while only 5,091 women died in crashes in the same year.

A trans woman born male may be asked by an insurer to list their biological gender at birth instead of the gender they identify with. Some insurers may not ask for this revision, however. In some states, there is a third option for gender.

Visit the SmartFinancial blog article on gender and car insurance for deeper insights and statistics: https://smartfinancial.com/which-gender-pays-more-for-car...