According to research from moneysupermarket.com, the average car insurance premium for men across all age groups is £743 a year - compared to just £454 annually for women. That difference of £289 each year equates to men paying nearly £17,000 more for their car insurance than women over their lifetime.
It's not just a gender gap either - there is also a huge difference in the size of premiums based on age. The average premium for an 18-year-old male driver for example is more than £2,200 a year - that's £1,905 more expensive than the average premium for a male driver in his 40s at £294 a year.
Why do age and gender make such a difference?
Despite the Equality Bill being published in April, drivers are continuing to face a rough ride as insurers are permitted to continue to use age and sex as a legitimate way to calculate premiums.
Indeed the statistics appear to back up the insurers' theory. According to Home Office research in 2006, 97% of motorists convicted of dangerous driving were male, while men also made up 94% of those convicted of causing death by dangerous driving.
There are other anomalies that add to the case of men paying more for their car insurance than women. The more you drive, the more likely you are to have an accident and according to the Department of Transport, the average mileage covered by men in the UK is 12,000 miles a year compared to just 8,000 for women. Women are also more likely to take shorter journeys such as on the school run, whereas men are often involved in longer, motorway drives at high speeds.
In terms of age differences, young drivers are generally involved in a higher number of crashes. In fact, a study by the Institute of Advanced Motorists has found that young drivers are three times more likely to die or face serious injury on the road than their middle-aged counterparts. Some 4.8 per 100,000 of those aged 16-19 were killed on the roads, compared to just 1.4 in the 50-59 age group.
How can you keep the costs down?
With the gender and age gap on car insurance premiums showing no signs of bridging, it's become even more important for drivers, young males in particular, to ensure they are getting the cheapest car insurance quote available that provides the level of cover they need.
By shopping for car insurance through the moneysupermarket.com car insurance comparison tool, drivers save an average of £159 a year. You can now compare deals from more than 100 providers with one search and it is completely independent allowing users to capitalise on the discounted online rates available from a number of insurers.
What's more, we've just added some new functionality, making it even easier to ensure you're getting the right cover at the best price. Our new 'prefer to phone' option means that if you have a question you'd like to ask the insurer before you buy, or prefer buying over the phone rather than the internet, you can do - but you can also still benefit from the advantages of comparing prices and levels of cover online.
Of course, comparing policies isn't the only way to save - here are some more tips:
- Car security: Make sure your vehicle has an approved immobiliser or alarm fitted and that you park in a garage overnight, if possible.
- Drive a car with a smaller engine: The more conventional your vehicle choice, the less likely it is to be driven at high speeds or targeted by thieves - so don't make any unnecessary modifications.
- Work out your mileage: The fewer miles you do each year, the less likely you are to have an accident - so work out roughly how many miles you drive each year as there is no point in paying more than you need.
- Pass Plus: New drivers could cut their premiums by as much as 35% by taking the Pass Plus test after having passed their main driving test.
- Rapid bonus: Consider policies that offer rapid bonus schemes allowing you to build up a full year's no-claims discount in as little as nine months.
For more tips, check out our articles 'How young drivers can put brakes on insurance costs' and 'Slash pounds off your car insurance'.
And a note for female and older drivers too...
Some providers specialise in insurance for female drivers or older drivers - but this doesn't mean they'll offer you the best value. It's still just as important to compare prices as you may find a better deal elsewhere.
Disclaimer: Please note that any rates or deals mentioned in this article were available at the time of writing.
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