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Elderly women more risky to insure than boy racers

Elderly women more risky to insure than boy racers

[caption id="attachment_30" align="alignright" width="300" caption="Insurance rates for women increase after they reach their 50's recent figures have revealed "][/caption] Recent insurance figures revealed that elderly women are considered a higher risk to insurance companies in comparison to young male drivers. Typically it is a common conception that young male drivers, often dubbed “boy-racers”, who’ve recently passed their driving test are the riskiest candidates for insurers. However recent figures have clearly shown that the cost of insurance for women soars after she hits a certain age. In 2004 the cost of motoring insurance for a woman would increase once she reached her 60’s, now however the gap is narrowing and women are noting a huge increase in the cost of insurance from their 50’s in some cases. It’s been claimed that women are involved in less accidents up until their mid 50’s, after which they are more at risk of being involved in an incident of some kind. The figures showed that the cost of insurance for a female drive in her 40’s stands at £186, however the cost of insuring a woman driver on the exact same car at the age of 85 years of age, is £375. The poor accident record of elderly women means they can be charged up to 50% more for motoring cover in comparison to younger men. With the cost of motoring cover for older women rising, it’s becoming more important than ever to shop around for insurance quotes using price comparison sites to ensure they secure the very best price.

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