Women-only insurance firms 'are not always cheapest'
Published On 19 October 2007
Companies which offer insurance to female drivers only could be charging higher premiums than general insurance companies, a consumer website has warned.Website moneyexpert.com found that women drivers could save themselves as much as £72 by avoiding female-only insurance companies.
The company found that the typical insurance premium for a 2002 Citroen C5 was £207 per year when cover was arranged with a general insurance company.
However, cover from women-only insurers varied from £225 to a hefty £278.
"By going straight to these providers female consumers are ruling out many of the biggest names in the insurance market and some of the best value policies on offer," warned Sean Gardner, chief executive of moneyexpert.com.
"Women looking to take out car insurance should focus on product details and pricing first rather than the insurer's customer base.
"A large number of insurers will offer cheaper policies if you voluntarily accept a higher level of excess in the event of a claim. Buying online can also result in big savings which can range from ten to 20 per cent in some cases."
Figures released by Experian recently indicated that the average quote for comprehensive car insurance reached £567.30 during the third quarter of the year.
