How Car Insurance for Women Varies with Age

Car insurance for women is a little different than it is for men. As a general rule, insurance companies see women as being safer drivers than men, especially when they are younger - which usually results in lower overall insurance rates. While this may seem unfair to men, it's hard to argue the logic behind the insurance companies' bias. The fact is that women file fewer car insurance claims than men, and the claims that they do file are usually for smaller amounts than men on average. To put it simply: the lower the risk the lower the cost. 

That being said, car insurance rates for women aren't always going to be cheap. Like their male counterparts, the amount that they end up paying for insurance will be determined by a number of factors, including their age. The following is a brief overview of the type of insurance rates that women can expect during the different stages of their life. 

Young Women

Between the ages of 16 and 24, car insurance is going to be relatively high for young women, although it will be nowhere near as high as it is for young men. This is because the age group is more prone to accidents and careless driving, so the rates have to be adjusted accordingly. Just like the differences in rates between men and women, the differences due to age are based on solid statistical data as well. While you may have been an excellent driver at that age, most people aren't - and car insurance companies base their rates on averages, not individuals. A good driving record, as well as good grades, will help your rates decrease year by year in this period.

Prime

At the age of 25, car insurance for women will drop drastically in price, as long as they have a good driving record. By this time, women are assumed to be more mature and settled - possibly even with a family at this point. They've become safer drivers and will remain that way, in general terms, for several decades. All of this is based on statistical averages, mind you, not actual individuals. This means car insurance for women will keep going down in price during this time with all other things being equal.

Older Women

With increased age, car insurance for older women will rise again. This is because older drivers of both sexes are far less safe on the road on average and are more likely to have an accident. From the age of 70 on, car insurance for women is going to rise in price. It will keep going up each year and, if the female driver has an accident, those increases could be steep or the policy could be canceled altogether.