IMN Content - Lifestyle and Consumer Content

Gender Watch

Posted by Catriona on 25 September 2012

Women - brace yourselves, you could be expected to pay up to £2,000 more for your car insurance come December.

Scott Kelly, head of Go Compare is in the studio with us today to discuss fall out that this change in EU Law may cause.

GoCompare have released a new report which has analyzed 10 million quotes over the past 20 months. This has revealed that men are currently shelling out almost double the amount paid by women - an average difference of £315.

ECJ Gender ruling means that insurance companies can no longer price insurance on whether you are a man or a woman. It is predicted that the introduction of equalised rates, to higher male prices, will hit young female drivers the hardest, with potential increases of £2,000 compared with an average of £300.

So what can people, and in particular women, do about this hike in prices? Scott stresses the importance of shopping around. Don't accept your renewal, you've got one chance left until 21st December so get out there and make sure you get the best deal possible.

You could also consider a product like telelmatics - which will allow your insurance policy to consider how you drive, and establish pricing accordingly.

For more information, go to www.gocompare.com/gender , which explains the ruling and has links to useful information.