Should men and women pay the same for insurance?

Your Comments

I consider the recent legislation brought in by the European Union to be totally wrong and that it shows a lamentable lack of knowledge by the legislators of how the insurance industry functions. Different insurance rates for the sexes are applied, not for sexist reasons, but for technical and in some cases actuarial reasons. For example, as life expectancy of a woman in UK is about five years longer than that of a man, how can rates for life assurance and annuities be the same for both sexes? The underwriting of all classes of insurance involves consideration of many factors but "sexism" is not one of them.

If general statistics show a difference in risk then men ans women should be treated differently. Otherwise all car insurance (and other insurances) should be a fixed fee.
We accept discrimination by age, younger drivers have at least one accident in the first three of driving where an experienced older driver it may be one minor accident every ten years. We accept that discrimination by car type as some cars are more expensive to insure; some cars may have poor safety and incur greater costs in insuring against injury; whilst other cars may be safer, and protect the occupants, but their spare parts are so astronomically expensive (Rolls Royce?) that they incur higher insurance. We accept discrimination that a business person travelling 30,000 miles a year, OR a truck driver travelling 90,000 miles per year in an £150,000 truck have HIGHER insurance than a widow in the countryside who travels 30 miles per week (1,500 / year) in her old cheap car travelling to get food because her village shop, Post Office and BUS service have been closed.
Therefore, why ban discrimination for insurance by gender only, when we accept mileage, businees, car value, repair cost, driving experience and I am certainly not wanting to pay a share of Central London weighting.
However, I would object to insurance companies doing DNA tests prior to issuing insurance and thereby making some people genetically impossible to insure. The purpose of insurance is to share the burden of the unexpected chance of an accident that could bankrupt you (e.g. legal fees). The above factors of car choice, where you live, mileage are all within your power to change. Gender cannot change, but neither can age; tomorrow I am a day older and therefore a better insurance risk until I become "too old?" Why should 50% population subsidise the rest of the population by Age or Gender?

All Insurance premiums are based on the risk factors involved so no it is not fair. If women are a lower risk then their premiums should reflect this.

If a woman wishes to buy an annuity with the same size pot as a man it will buy them less. That too is fair as on average women will be receiving payments longer as they live longer!

There will be many examples out there which indicate how bonkers this ruling is.

All insurance is based on the risk involved and if women are deemed less of a risk their premiums should reflect this.

An annuity is an example that works in mens favour. With the same size pot a mans monthly payment is greater as the insurance compamy do not expect to pay it for as long as women on average live longer. Their payments are rightly decreased.

This ruling is bonkers

This judgement will pave the way for the destruction of the insurance industry
which is based not on fairness but on a calculation of risk.\+

The basis of insurance is risk and the higher the risk is the more the premium will be . Statistics show that young male drivers are more likely to have an accident or claim compared to a woman of the same age. This is why women have paid lower premiums and it should stay that way.

This is another example of the EU making decisions which do not make sense

Insurance is all about risk and regardless of the cover, rates should be applied accordingly.
Should life insurance be cheaper for an 18 year old than an 80 year old or is that ageist descrimination ?
Is it fair that someone in Libya should have to pay higher car insurance than someone in Shetland ?

It is totally fair that both sexes receive the same premiums at the outset : it is quite wrong to generalise by saying most young men are bad drivers or most young women are good.
It may be true that more young men turn out to be worse than their female counterparts and if this is so, then they should be heavily penalised with higher should bad female drivers.
Equally, drivers of both sexes who build up a good no claims record should be rewarded with reduced premiums.
Both my son and daughter are responsible drivers but my son was always the better driver with better road sense and driving was totally wrong that he should have been penalised with higher premiums when he began driving, just because he is a male.

Yes, it is wrong. When new drivers pass their test they are all the same male and female, without a claim! Therefore they should all pay the same, when they come up for renewal their insurance cost should reflect their driving performance in the previous year. Not all young/new male drivers have accidents any more than all young/new female drivers don't have accidents.
Indeed I know of two young female drivers who both had accidents within a week of passing their tests, yet they paid far less for their insurance than my son who was older and he has not had an accident in the 12mths since he passed his test. That has to be totally unfair!!
The cost of insurance should be based on driving performance not gender, women are looking for equality in all things and yet only if it doesn't cost them!!

The best way to operaate insurance would be as they do in some other countries and lump the road tax and and a government provided 3rd party insurance onto fuel costs. This would eliminate all uninsured and untaxed drivers and everyone would pay based on their useage, so the more mileage done the greater the risk of an accident therefore the more you pay to reflect this risk. If a comprehensive policy is required, this could then be purchased by the individual personally from an insurance company.

The irony in this new situation has escaped the feminists. They wanted equality - now they have it.

I have been a Driving Instructor for the past 21yrs and have been asked many times who I think are the worst drivers are Men or Women, up until approx. 5yrs ago I would catagorically say Male(especially young males 17-21) , now I feel that Females(17-21), are on a par as regards their driving, and it is mostly this group that poses the biggest threat on the roads as regards accidents. It would be interesting to see a survey done by the Insurance companies as to who they pay out to the most Male or Female. I don't think the Insurance companies have ever rewarded those drivers who have held a clean licence and never made a claim. Then again, I suppose they have to get the money from somewhere to pay out on the bad drivers and that means the safe drivers. I have passed both the IAM and ROSPA advanced driving tests, never caused an accident and my Insurance has never gone down, only up. So why should I pay more than a female who passed her Driving test and never really progressed with her driving or looked at a Highway Code since passing her Driving Test?

Obviously its only where I live that the women drive around more interested in their darling children in the back seat, some not even facing the road too see if junior is okay!! Or if their hair or lippy is okay attention is completely on the mirror or the handbag and not at road. Just beware if their mobile goes cos the brakes get slammed on as the phone call is more important to whatever is behind them in the flow of traffic and good luck if you are behind them if they pass a shop window!!! Yes I am a woman but am sick of the attitude that women never do anything wrong!! Yep they all bang on about equality..... and then dont like it when it happens! At least men stop at the local pedestrian crossing to let you across, most of the women on the school run would not even stop if you stood in the middle of the crossing!!

Why should there be different prices, in a society where all should be equal why not here?

I think a lot of people are missing the point by looking at their individual situation. The reason women get cheaper car insurance is because across the industry women cost less in terms of insurance payouts, therefore they are less risk, therefore insurance premiums are lower.
This would be like someone living in a flood area complaining that their house insurance premiums were higher, it's because the risk if higher for that particular group of houses.
I don't consider it sexist, same way as I don't consider it ageist that as a young driver it costs me more, it costs more because young drivers are more likely to have accidents as a whole.
Taken to the extremes this would mean everyone should pay the same for car insurance regardless of age, sex, experience, or surely the discrimination band wagon will be jumped on again.

Insurance companies should be allowed to do their job, offering premiums based on their knowledge of risks. But they should also seek to learn more about those they insure. I've got far more driving experience (both since passing test and in miles, conditions driven, cars driven) than a female friend, am a far better driver (it is really very obvious and she readily agrees), have never had any fine or ticket or points (she has), have never been in an accident or damaged a vehicle (she has), and yet insurance premiums for me are still higher!

I guess that if the EU told us all to line up at the edge of a cliff and then jump off, we'd have to do that as well.

In these crazy politically correct times we have got to accept that although equality may be a legal "right" but it is usually not a fact.

I am female, 30, and my car insurance keeps going up year after year on my little 1998 1.4 car.
Insurance cost:1.4 car worth £500 which I do upt to2000 miles a year in, £335
Kawasaki ZX6R 2011 model (11 plate) , worth £8500, 4000 miles per year £128 fully comp
Kawasaki Er6N 2011 model (61 plate), worth £5500 fully comp insurance £101 12,000 miles per year commuting.
no claims, no convictions in the last 10 years. (car test passed in 2003, bikes in 2001)

So if you are female and really dislike a hike in your car insurance, get a motorbike. Simple as that.

(I only have the car to take my other bike to the track with for race weekends.)