Monthly Archives: April 2017

You Need Comes to Car Insurance

Its no secret that over a lifetime men will pay more for car insurance then women with the same driving profile but have you ever wondered why? There are many reasons that women pay a lower rate for car insurance but are they justified? Insurance companies sure think so and here are just a few of the reasons they give women a break when it comes to car insurance premiums.

Women Tend to be Safer

When comparing averages, women absolutely have an advantage when it comes to insurance premiums. The exact amount of the advantage will certainly vary depending on factors such as age, traffic tickets and credit history but if a woman and a man living in the same city with the same basic profile shop around for insurance, in almost all cases the women will be offered a lower rate.

Insurers love statistics and statistics show that women are less aggressive drivers and tend to drive more cautiously than men. They receive fewer tickets and are more likely to use safety systems such as seat belts. Men are a higher risk and that is why they pay more for car insurance on average.

Exactly how much more reckless are men? The National Highway Traffic Safety Administration (NHTSA) found that in 2009 more than 70 percent of the people involved in fatal car crashes were men. Its important to remember that while men get more tickets and are involved in more accidents, not all women are perfect drivers. Statistics show that over the past 35 years the number of fatal accidents involving women has risen by 10 percent while the number of fatal accidents involving men has dropped 32 percent.

Unfortunately, most of the increase is do the fact that women are driving more miles per year than they did in years past. When the numbers are examined and compared by miles driven per year, men still come out on top when it comes to accidents. Simply put, statistics show that men are more likely to speed, run red lights, drive aggressively and drink and drive. All of this leads to higher crash rates and higher insurance rates.

Look at the Numbers

Here is a quick look at some Insurance Institute for Highway Safety (IIHS) statistics that shine some light on why men tend to pay more for insurance:

  • Men crash 12 percent more on weekends than women.
  • More men are driving, about 93 percent of all men aged 16 and over drive versus just 85 percent of women.
  • Men are driving 2.5 times more often when a fatal crash occurs.
  • Men drivers are involved in rear-end accidents 30 percent more than women drivers.
  • Women wear seatbelts 27 percent more often than men.
  • Men get double the amount of DUIs that women get and are two times more likely to drive with a suspended license.

Despite the fact that all men are different and some are very careful drivers, insurance companies work on averages so even the most careful male driver is going to pay a higher premium.

What Should You Do After An Accident

Being in a car accident is never fun, after the initial shock of the crash you will have to deal with the repairs of your vehicle as well as the insurance claim. While you will probably be a bit confused or frustrated after the accident there are a few actions that can actually make matters worse so follow these tips to make sure your accident goes as smoothly as possible.

Its Not Just a Fender Bender – While it might look like a minor fender-bender, the costs could end up being significant. There is the possibility that the frame is bent, the axle damaged, or other structural damage. Even a damaged bumper that is filled with sensors and crumple zones can be a very expensive fix. No matter how minor the damage, you should get all of the other drivers contact information, including their insurance ID number. This will come in handy if you need to make a claim later.

Never Apologize – Even if you think the accident might be your fault, don’t apologize or admit fault, it may be used against you later in a lawsuit. Simply exchange information with the other driver and let the insurance companies determine fault and settle the claims. Admitting guilt can result in a claim against you and a possible lawsuit if the accident is severe enough, for that reason, let the adjusters work it out.

Document the Scene – Many people think that if it is just a minor accident there is no need to take photos or call the police. Again, regardless of how minor an accident you should take photos of the scene as well as the damage to your vehicle, and that of the other person. Insurance experts recommended calling the police and getting a police report which can help determine fault. It is possible that the police will refuse to come out for a small incident but you can at least tell your insurer that you tried.

Consider Paying for Towing – If your car needs to be towed and you have roadside assistance on your policy you might want to cover the cost yourself. While roadside assistance is usually a low cost add-on, if you use it frequently it could result in a premium increase. Each tow or jumpstart ends up on your policy record and could drive your rates higher at renewal time.

Don’t Delay Filing a Claim – It is best to contact your insurance company as soon as possible after an accident. They will advise you how to proceed and in many cases will direct you to an approved repair center to get your car checked out. The adjusters will also get started on their investigation to determine fault and settle any claims.

Don’t Choose a Deductible You Can’t Afford – While it may seem like a good idea to raise your deductible to lower your insurance payment, if you don’t have enough money to cover the deductible you may find yourself unable to get your car repaired. It is best to keep your deductible in a range that you can easily afford, even if it results in a higher monthly payment.