Women in 20s deemed as mature motorists by insurers
Published On 7 February 2007
Car insurance providers deem women to be mature drivers in their late 20s while men have to wait until their 30s before they lose the boy racer tag, new research has found. Figures from moneysupermarket.com has found that men aged in their 20s pay double for their motor insurance when compared to those in their 30s.
In a survey of over seven million motor insurance quotes, the average premium for a man in his 20s was £1,123, which is a sizeable 107 per cent higher than the average £543 premium for a man in his 30s.
This is in stark contrast to female drivers who are presented with much more affordable car insurance premiums earlier in their driving career. A woman in her 20s will pay £736, - 51 per cent less than the average of £1,503 when she was a teenager.
Peter Gerrard, moneysupermarket spokesman, said: "It's clear from these statistics that insurers view women as mature motorists in their twenties, while men have to wait a decade longer to have their boy racer premiums wiped out.
"Younger drivers often find it hard to get competitive motor insurance, as insurers rate them as a high risk group, but there are ways they can cut their insurance costs, such as adding a parent to their policy or looking at specialist insurers who target young drivers.
"Year-on-year figures show insurance premiums have dropped by five per cent, due to fierce competition in the marketplace. Motorists have also become more active in seeking out the best deals for them, adding higher excesses and being more accurate with their mileage details."
Men in their 30s saw their car insurance premiums fall by ten per cent last year.
