September 29, 2017 at 9:35 AM

Despite an EU ruling which banned setting car insurance premiums based on gender, a study has found that men are paying an average of £170 more than women.

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A study by Comparethemarket.com has found that men in the UK are paying on average £170 more than women, because insurers use statistics that men are more likely to be involved in an accident to calculate premiums.

Men were quoted an average price of £821 versus £649 for women, between June and August this year, which is a difference of 26.5%, up from 19% when the study was carried out in 2013.

Head of motor insurance, John Miles said to The Times: "This data shows how little difference the EU gender directive has had on insurance premiums, with providers still giving big discounts to women.

"This is likely (to be) due to a number of factors, such as statistically higher accident rates for men and more men than woman driving business and commercial vehicles, which are higher risk. The directive removed the ability of providers to give default discounts to women. 

"However, the statistics and risk models used by insurers mean that the result is largely the same."

Full story here

 



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