We’ve come a long way since the days of equality between men and women being a world apart, but there are still significant gaps in some of life’s most important aspects.
While it’s true that in many cases across the world, a man’s salary is still higher than a woman’s in the same position, and that female athletes in most sports earn less, it’s not all one-sided. Or at least, it didn’t used to be…
So, is it really possible for a woman to spend less on her car insurance than a man? Let’s explore this idea.
Business car insurance is a must
Business vehicle insurance is a legal requirement in the UK and therefore not optional. If you’re using your car or van for work-related purposes, regardless of whether you’re male or female, business vehicle insurance will put you in a bubble of extra security.
If your company car is imported from another country, however, there’s a high chance that your business car insurance will be even more expensive.
Grey imports may cost more to insure and repair as parts can be more difficult to get hold of, and there’s a higher risk of theft. If you’re considering importing a vehicle for business use, comparing quotes for import car insurance with the help of a specialist company like MoneyBeach will give you a clearer idea of the likely costs.
Whether or not you import your next company car, though, the idea that women might be able to get cheaper business car insurance than men isn’t totally outrageous, as we only have to look at the situation for standard vehicle policies.
The legal situation has changed somewhat in recent years
It’s no secret that, once upon a time, car insurance companies used gender as a factor in determining a person’s car insurance premium. There are a few theories as to why this was allowed to happen, with the main one being fairly simple: women supposedly get in fewer accidents, and therefore the compensation for an auto accident injury would be lesser and cost insurance brokers less money.
When we apply this concept to business car insurance, it may seem likely that a woman would also get cheaper deals where their business vehicle is concerned. As company cars tend to cover more miles and drive on unfamiliar roads, the likelihood of accidents occurring is increased, and therefore so is the premium.
However, things changed back in the early 2010s when the European Court of Justice began enforcing legislation that stopped insurance companies from judging the price of their premiums based on gender. Now, if a man and a woman filled out an application identically – minus the mention of gender – the quote would be the same.
In practice, though, it seems that many men do still end up paying more for their car insurance than women. However, this might be attributable to such factors as men being likelier than women to drive to work, and many traditionally male-dominated jobs – such as labourers, painters and security guards – being perceived as a higher risk by insurers.
So, can women get cheaper business car insurance? In theory: not really, as the change in the law saw to that. So for the most part, it seems that women can now only get cheaper full coverage auto insurance in the same ways that men can, such as by shopping around and choosing cars with reasonably small engines.