Why Do Men Pay More For Car Insurance?

TGR Staff

If you’ve wondered why your wife or girlfriend is paying less car insurance despite both of you being around the same age, in the same location, and driving similar cars, there’s a good reason. Well, a few reasons, actually.

5 Reasons Men Pay More For Car Insurance.

For years, men have paid higher insurance rates. It’s not because insurance companies are being unfair. It’s about how they view risk. Here’s why men, especially, young men below the age of 30, pay more for car insurance.

Men tend to be riskier drivers:

Young men under 25 pay the highest auto insurance rates because they are perceived as a higher risk. Male drivers age 16 to 19 have a four times higher risk of crashes than for older drivers.

In this age group, men are more likely to speed, not buckle up and engage in reckless driving behavior than women of the same age. This results in more car crashes. According to the Insurance Institute for Highway Safety (IIHS), 71% of all motor vehicle crash deaths in 2018 involved males.

Moreover, a lot of these crashes tend to be fatal and result in either severe injuries or death. If you speak to any wrongful death attorney in the country, they’ll testify that a lot of their cases involve male drivers. The added risk of male drivers means insurance premiums have to be higher so insurance companies can cover their backs.

We like to show off our car’s performance:

Men are naturally more competitive than women. Younger men, in particular, want to impress their friends with their driving skills and their car’s performance. That often means a heavier foot on the gas pedal, sharp cornering, and modifying our cars to make them more powerful.

Young men also tend to have more passengers in the car. With more passengers, comes more distractions and reckless behavior, especially if egged on by their friends to drive faster or perform stunts. This adds up to a higher risk for insurance companies.

We are more likely to buy faster cars:

One study showed that 100% of Dodge Viper buyers were male. Males also dominated other sports car brands — 94% of Corvette, 91% of Nissan GT-R, and 89% of Porsche 911 buyers were male.

No matter the age, most men can’t help loving fast cars. It’s in our blood, literally. ScienceABC says it's linked to testosterone. When we get into a sports car and hare down the road at lightning speed, our testosterone levels spike. Along with that comes a rise in adrenalin and dopamine (that feel-good chemical in the brain).

Seeking a dopamine rush is addictive and can perpetuate the need for speed. That’s why we’re more inclined to buy sports cars, which attracts higher insurance rates.

We rack up more traffic violations than women:

At age 40, it seems the tables turn and women end up paying more for car insurance. However, men at all ages, continue to have more car accidents and pick up more traffic violations and DUIs. In 2010, four out of five DUI violations were attributed to male drivers. While DUIs among the female population is on the increase, men still receive more DUIs than women.

More car accidents and traffic violations lead to more insurance claims and subsequent rate increases. So, thanks to more traffic violations, most men may still end up paying more than women for car insurance.

Men drive more miles than women

Men spend 19% more time behind the wheel and drive 27% more miles than women. For insurance companies, more time on the road means a higher chance of car accidents. If your circumstances change and you are driving fewer miles, let your insurance company know. Some insurers are willing to adjust rates according to mileage.

How Can Male Drivers Lower Their Insurance Rate?

Insurance companies weigh up risk when determining insurance rates. To gauge risk, they look at a number of factors, such as credit score, driving history, marital status, location, type of vehicle, and claims history.

You can lower your risk by maintaining a clean driving record, keeping a good credit score, installing an anti-theft device, and inquiring about discounts. Many insurance companies offer the following discounts:

● Good student discount. If you’re a student and you keep your grades up, it can help bring your car insurance rate down.

● Multi-policy or multi-driver discounts. If you hold more than one policy with your insurer or have a multi-driver plan, you could qualify for lower rates.

● Military discount. Some insurers offer military personnel and veterans discounted rates.

● Pay-in-full discount. Pay your entire year’s premiums upfront and you could receive a discount of up to 10%.

In addition, if you get married, inform your insurance company. Married people are seen as more responsible and, therefore, enjoy lower rates. Even 25-year old males who are viewed as high risk, see their rates drop after getting married.

So, gentlemen, despite women getting the rap as bad drivers, it turns out insurance companies did their homework and discovered that it is men, not women, who are the riskier drivers. The good news is that as men get older and start families, they tend to become safer drivers. And as your driving record improves, so too should your car insurance rate.

Wrapping Up

While it might not be much fun having to pay more for car insurance than women, it isn’t hard to see why. Insurance companies take everything into account to protect their investment essentially. So if men are riskier, it stands to reason that they pay more.

But don’t take that as a reason to not get car insurance at all. It’s there for a reason, should the worst happen. Make sure that you still get it, even if you have to pay more. And make sure you know how to file an insurance claim. You never know when you might need it.