Car insurance still pricier for men in spite of EU rules
Men may pay up to £180 more than women for their car insurance, according to the latest Motor snapshot from comparethemarket.com.
In spite of EU rules banning the use of gender as a factor when pricing insurance policies, inequalities still exist in car pricing, said the comparison site. Retired people pay more than three times less than someone in education, while those who are unemployed pay £400 more than those who are employed.
Dan Hutson, head of motor at comparethemarket.com, said: “The reason for the huge differences in costs between demographics is because insurers price policies based on a range of factors such as location, crime rates and many others. However, in many cases, those who can afford it the least often end up paying the most.”
The snapshot also showed that the Ford Fiesta retained its place as Britain’s most popular car, followed by the Vauxhall Corsa and Ford Focus. Hutson said there has been little change in the top of the rankings since the last survey, with three brands dominating; Ford, Vauxhall and Volkswagen.
Hutson added: “These brands each have two cars in the top six most popular cars on our website. However, these particular cars are more expensive to insure on average. While the cost of cover is sometimes unlikely to be the first consideration one has when purchasing a car, it is worth keeping in mind that you could save hundreds of pounds depending on the model you choose.”
The average premium for the popular Mini Cooper is just £605.20, while the Corsa comes in at £822.43. The Audi A3 is the most expensive of the top 10 cars with average premiums of £932.42.