CAR INSURANCE NEWS ROUNDUP: WEEK ENDED dec 12 2012:
This week marks the last one before the impending end of the world according to the Mayans, but the nation’s car insurance companies have enough to worry about.
That’s because this is the last week to secure a motor car insurance policy, if you’re a woman, that actually reflects the fact that female drivers – especially younger ones – are statistically less likely to be involved in an accident than their male counterparts. However, despite the fact that scientific analysis supports the claim, the European Court of Justice have not let that affect their decision to ban charging women less on their insurance than men in an effort to stamp out gender discrimination.
Insurance industry experts say that the average premium price for female drivers will most likely increase by around 12 per cent going forward. Male drivers will actually be awarded for their poor driving skills, with analysis indicating around 5 per cent being shaved off the policy price for the average male motorist.
It’s an absolute revolution when it comes to the motoring industry, leaving insurers collectively scratching their heads on how to react to the bizarre turn of events. It’s quite appropriate that the day the decision goes into effect, 21 December, has been touted worldwide as supposedly the end of modern civilisation due to the Mayan calendar ending on that day, and it can only be surmised that there’s some judge in the ECJ that has an ironic sense of humour.
Still, you’ve got about a week left to get the best deal you’ll probably be able to for the foreseeable future, especially if you’re female. In addition to the Court decision affecting car insurance, other financial service products such as life insurance are being impacted as well, so act now if you don’t want to end up paying much more if you secure a policy after Christmas is over.