Cheap car insurance for women seems to be evaporating at an increased pace, with female drivers living in regions such as Manchester, Yorkshire, and Merseyside experiencing as much as a 4.7 per cent increase in their car insurance rates over the past three months, experts say.
According to the latest quarterly price index from Towers Watson, premium pricing for women have been declining at a rate of 3 per cent overall, yet there are some regions in the UK that are becoming increasingly hostile for female drivers. The price of comprehensive motor car insurance cover for women has grown as quickly as to be 9.7 per cent higher than it was 12 months ago, the research study found.
Male drivers have instead experienced a slight easing of their insurance burden over the last year. Comprehensive rates for men have declined by 1.8 per cent over the past 12 months, bringing the average for men of all ages to £869 as of the end of last month.
Women are still ahead of the game, even with the recent price increase. Averages for female drivers across all age groups were £751 for a year’s worth of comprehensive cover, and is still better than the overall average cost of £816 for comprehensive cover.
Merseyside and Manchester residents lost out in the long run, with women between the ages of 21 and 25 experienced a 4.7 per cent increase. Men in the same region experienced a slightly more modest 3.6 per cent price increase, but are still paying more than women overall due to heightened risk factors.