prices could increase by as much as 24 per cent for women drivers
(PRWEB UK) 14 December 2012
A report compiled by the RAC Foundation has shown that between 1995 and 2010 the number of females with a driving licence increased by 23 per cent, equating to a rise of 2.6 million to 13.8 million. During the same period the number of new male drivers grew by only 9 per cent. According to the same report the trend is likely to continue as the sharpest drop in driving in the UK is currently among males in their 20s.
The drop off in young male drivers may come as no surprise considering the increase in the cost of car insurance for young drivers recently – the latest Tiger Watch report for November illustrated how this group of drivers saw premiums increase by 1.6% in just a single month. However, with the EU Gender Directive looming, it is very likely that women drivers will be starting to feel the pinch too. The government has estimated that prices could increase by as much as 24 per cent for women drivers and price monitoring reports like Tiger Watch have already begun to show that the gap is closing between male and female rates.
Andrew Goulborn, Commercial Director for car insurance comparison site Tiger.co.uk commented: “We have seen a gradual increase in the cost of car insurance for women drivers and we will be monitoring it closely over the next two weeks to understand what overall effect it has on the prices returned by the insurance companies featured on Tiger.co.uk. There are some money saving tips that can be followed when shopping around for car insurance and we have written a guide specifically for younger drivers that has a number of suggestions in it. It could also be worth considering taking out a telematics based product as it has been well documented that younger drivers and those who have a lower annual mileage can get good value for money from these products. As ever, we would recommend that all motorists use Tiger.co.uk to shop around and compare prices before making a commitment to buy”.
Tiger.co.uk is a trading name of Call Connection Ltd. Tiger.co.uk is a UK based, independent motor insurance comparison site, offering insurance quotes from over 150 insurance brands. Call Connection Ltd is authorised and regulated by the Financial Services Authority (number 308374).