Car Insurance News
Women could avoid car insurance hike
23 December 2011
Women could avoid the upward adjustment to their car insurance premiums forced through by the European parliament by renewing their policies.
MEPs voted to equalise insurance premiums for men and women, banning insurers from rewarding safer, female drivers with better rates.
As a result, women will have to pay more for their insurance cover - but young men could benefit from lower premiums.
However, the new rules will not apply to existing insurance premiums, so women who already have a good deal on their car insurance can simply renew to avoid being hit by a dramatic rise.
Commenting on the new ruling, EU Justice Commissioner Viviane Reding said: "It is now up to the insurance industry to ensure that there is a smooth transition to fully equal treatment of men and women in insurance.
Recently, Gocompare.com found that the last two years had seen a dramatic rise in the number of people switching their car insurance provider. However, this trend could be tempered if women decide to stay put in order to keep their preferential rates.
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