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Women's car insurance hit by EU ruling

Women's car insurance hit by EU ruling Image

Being a woman is not as beneficial as it once was, with car insurance premiums set to become the same for both sexes.

Women may have to fork out more than they normally would, once new EU rules are introduced on December 21, despite being less likely to be in an accident.

Some experts suggest the increase may not be as high as expected, although they warn young female drivers that their premiums could sky rocket.

They also suggest that female drivers should not rush to change their policy as this might drive up the cost with cancellation fees and there is a risk of losing your no claims bonus.

In line with new regulations, when a woman takes out car or life insurance, the firm will not be allowed to discriminate on gender in regards to cost.

The regulations, which were approved in 2011 by the European Court of Justice, are aimed at countering a growing demand for gender equity and will benefit women in the long-term, with pensions also becoming gender-neutral at the same time.

published: 20/12/2012 17:00:00

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