Gender difference and effect on insurance

I_Love_Shoes

So I'm a 21 year old female, we were warned it will be my kind of age group hit the hardest with this gender hike.
I did a quote yesterday on my 57 plate Mini Dooper and it was £560 for the year, I did a quote today and it was £460.
I thought it was meant to go up for the girls?!?!
Im not complaining but I thought this was a bit strange!
How has everybody else got on with this change?

InsideInsurance

Easy way to test, rerun the identical quote with the only thing changed being your gender (this may be derived from your title so use something gender non-specific like Dr for both)

ACG

You probably dont get many 21 year old men driving mini coopers though, so the risk of them crashing one is probably quite slim - so you may be better off due to the type of car?

Im presuming that quotes are based on the type of car and not just the engine size. This is more just of a guess/theory?

Pedent

My wife and I have been planning on changing our life cover for a while now. Knowing that gender-neutral charges were coming, she took out a new policy about a month ago (to beat the price rise for women) but I've waited until today (hoping they'll go down for men).

Checking prices from our chosen provider (Aviva) today, the price for her is 38% higher, but the price for me is 8% higher. Some quotes for me from other insurers are higher (Zurich is up 9.5%, L&G is up 8%, Pru is up 2.5%), while others are lower (Bright Grey and Beagle Street are both 5% lower).

It looks like hoping for across-the-board reductions for men was naive.

System

ACG wrote: »

You probably dont get many 21 year old men driving mini coopers though,

That's one of those can-of-worms issues they will probably be sorry to have stirred up.

It is an accepted argument in discrimination cases that there can be indirect discrimination arising from the fact that one particular category of person is more likely to tick a particular box that it is perceived as riskier.
Thus asking a job applicant questions like "have you had any career breaks ?" is indirect discrimination, because women are much more likely to have had breaks than men (to have babies).

Ulimately of course even the question "Did you have any accidents under the age of 21" is discriminatory, because men would be twice as likely to have than women.

olly300

Clifford_Pope wrote: »

Ulimately of course even the question "Did you have any accidents under the age of 21" is discriminatory, because men would be twice as likely to have than women.

They are allowed to phrase the questions as they do now:
1. What is your date of birth? - i.e. what is your age
2. Have you had any accidents or incidents in the last 5 years? Give details.

From those two questions they can work out if you are under 21 and are accident prone.

They won't be able to identify your gender from those 2 questions alone so there is no discrimination.

The details section tends to be a selection of drop down boxes with "Someone hit me", "I hit someone", etc so you cannot determine gender from it so there is no discrimination.

The only way they can determine gender is if they look at the "Title" . However I did notice when I renewed some insurers asked to state if you were a Dr(male) or Dr (female) etc, or simply to tick the box for gender.

weighty1_2

Pedent wrote: »

My wife and I have been planning on changing our life cover for a while now. Knowing that gender-neutral charges were coming, she took out a new policy about a month ago (to beat the price rise for women) but I've waited until today (hoping they'll go down for men).

Checking prices from our chosen provider (Aviva) today, the price for her is 38% higher, but the price for me is 8% higher. Some quotes for me from other insurers are higher (Zurich is up 9.5%, L&G is up 8%, Pru is up 2.5%), while others are lower (Bright Grey and Beagle Street are both 5% lower).

It looks like hoping for across-the-board reductions for men was naive.

I don't think many in the industry were expecting much in the way of reductions, certainly on life or critical illness plans. This is mainly because of the secondary piece of legislation which as also been effected called I-E. This affects how insurance companies are taxed based on them offsetting their investment returns to keep the cost of life cover artificially low. It is more than likely that which has caused the premium increase, not the gender neutralisation.

Going4TheDream

My quote from the insurance broker is similar to last year , and on line have got quotes over £100 cheaper, with one company offering cashback of £30 through TCB. If anything my insurance potentially looking £130 less than last year.... I only paid £270 fully comp last year so nearly a 50% decrease all told. I am probably not the target age that this will affect, driver a city car and have 9 yrs no claims but am female so wasnt sure what to expect

tasticz

my insurance has gone up £1500 compared to 2 days ago

its a dummy quote same website, same details

looks like they will be kicking me in the as* when i pass my driving test

baldybloke_2

My 23 year old daughter is due to renew her insurance on an 11 plate Fiesta econetic next year. Currently she is paying £150 per month. Tonight she checked and it has gone up to £250 per month. Thats a rise from £1.800 to £3,000.

Methinks the insurance companies are rubbing theur hands with glee at the European ruling.

bouncydog1

tasticz wrote: »

my insurance has gone up £1500 compared to 2 days ago

its a dummy quote same website, same details

looks like they will be kicking me in the as* when i pass my driving test

If you have done the quote as having a full licence, then this is totally normal. Once you have passed your test you are a higher risk as you are a new driver, driving unsupervised and statistically more likely to have an accident. Nothing to do with gender.