New study reveals the difference despite EU laws banning insurers from considering gender when calculating a policy
Despite EU laws coming into effect which prohibits insurance companies from using the gender of a person when calculating a new policy, the gap between what men are paying compared to women for their car insurance has widened.
On average, men are paying £101 more than women for their car insurance, according to a new study.
Figures compiled by the comparison website Confused.com, revealed that men were, on average, paying £812 for their car insurance compared to women, who were charged around £711 on average.
Over the past 12 months, premiums for men have risen by £104, whereas insurance prices for women over the same period only rose by £84.
In 2012, the European courts introduced a new rule banning insurers from considering the gender of a person when calculating a policy but despite the new ruling, the gender gap is still growing.
It’s also the first time since 2012, that the gender gap has pushed past £100. When the new ruling was first introduced, the gender gap was a mere £27.
Over the last year, average insurance premiums have climbed by £95, meaning an increase of 14%. As a result, the average driver could be expected to pay around £767 for fully comp insurance cover.
The rise in prices can be somewhat attributed to the Government’s latest Insurance Premium Tax (IPT) increase, which jumped from 10 to 12 per cent.
Motorists from the East and North East of the country and those from areas in the Highlands and Islands of Scotland, have watched their average insurance premiums rise by 20%, from £563 to £589 in just the last month. These regions have seen the biggest rise across the UK.
According to the motoring editor at Confused.com, Amanda Stretton, drivers in the UK are now on average paying £95 more for an annual fully comprehensive car insurance policy, compared to the same period in 2015.
“With the average premium standing at £767, the cost of car insurance hasn’t been this high for over four and half years,” said Amanda, adding that if prices carried on rising, it wouldn’t be long before the UK was back at the £858 spike that drivers experienced in 2011.
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