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Posts Tagged ‘first for women car insurance quotes’

Staying with the theme of rights, do women have the right to lower insurance premiums by sole virtue of their gender?

Pity the man who drives with care and caution, because his insurance company will load his premium anyway.

That’s because claim statistics reveal that men, especially young men, are more likely to be involved in an accident, and the repair bill is likely to be higher than that arising from a car accident claim submitted by a woman driver.

As was recently reported, the European Court of Justice has ruled that from December 2012, insurers in the UK can’t practise gender discrimination by charging men higher premiums than women. While that ruling is not binding on South African insurance companies, it has caused major ripples because our industry tends to follow trends in the UK and Europe.

1st for Women is determined to stick to its business model, and the statistics which underpin it.

“1st for Women stands by the fact that, statistically, women are lower insurance risks than their male counterparts,” said managing director Robyn Farrell.

“They take fewer risks, make more careful decisions, usually stick to the speed limit and frown upon road rage.

“The insurance industry as a whole differentiates but does not discriminate.

“Discrimination implies an arbitrary distinction that is not based on merit whilst differentiation is a distinction based on merit.

“The entire insurance industry differentiates in terms of age, gender, geographical location, years of insurance and licence period.”

Not surprisingly, the SA Insurance Association (Saia) has also come out in support of “differentiation in insurance premiums to benefit low-risk consumers”.

Saia’s legal manager, Suzette Strydom, said insurance premiums were based on risk – the higher the risk, the higher the premium.

The constitution outlawed “unfair” discrimination, but discrimination which “reasonably and justifiably differentiates between persons according to objectively determinable criteria, intrinsic to the activity concerned” was defensible, she said.

In other words, there’s solid evidence that women are generally lower risk when it comes to car claims than men.

“In the South African insurance industry, the interpretation has always been that in the event that an insurer can show, with statistics, over a particular period of time, that the claim ratios confirm an increase in and an exposure to risk as a result of age, gender, location or other factors, the premiums will be determined accordingly,” Strydom said.

Age also played a major role in determining car insurance premiums.

“Drivers between the ages of 18 and 25 are three times more likely to cause an accident,” she said. “It is unfair to expect pensioners, for example, to subsidise younger drivers.”

The other factor which influences your car insurance premium is your claim profile – lodge a claim and your premium may well increase afterwards, in keeping with your increased risk status.

So it stands to reason that if you haven’t claimed on your policy for some time, your risk diminishes and your premium should too.

But this doesn’t happen automatically – you have to ask.

In January I got the usual letter from my insurer, telling me that my monthly premium was about go up because of increases in the cost of labour repair rates, vehicle parts and the like.

I was told that my monthly premium, which includes household insurance, was going to increase by a whopping R564 a month.

So I made a call to my insurance company, pointing out a few facts: that while car parts and labour have gone up in most cases, the value of the two cars in question had significantly decreased; that we do relatively low mileage, and that we hadn’t made a car claim for many years.

Within minutes, I was offered a new deal.

Instead of going up by R564 a month, my existing premium went down by R244 a month, so that call saved me more than R800 a month.

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If you’re in a similar position, make that call. –

By Wendy Knowler, Pretoria News

Even though men tend to complain about how bad women drivers are, it has been proven that women are much less of a risk in the eyes of the insurance companies in comparison to men.  Therefore women car insurance is usually provided at a lower premium than that of men, and therefore work out cheaper for the client.  These notions are made on the assumptions that women are more reliable, careful and safe when it comes to driving.  Their premiums are still justified by their age, location, usage and type of vehicle that the women own, however the women car insurance is more cost effective.

The fact that women car insurance is treated differently to that of men has been taken in by the insurance companies, and has resulted in the formation in specialised solutions and policies for women car insurance.  These women car insurance options are inclusive of their particular needs and requirements and are obviously available at a lower price than that of general car insurance.

The particular women car insurance options available to the prospective woman client are available on many online insurance sites.  These insurance sites provide the women client with the cheapest and best option of women car insurance that are available on the market according to their resources.  The women car insurance notion has boosted the insurance industry in terms of insurance for women and has enhanced the status of the women car insurance market.  These options can be found on internet sites such as car-insuracne.org and the First For Women car insurance website.

Developed in 2003, First for Women was the first insurance company to provide insurance options to women only, catering for their particular needs and meeting their short-term insurance requirements. First for Women car insurance has been inspired by the persistence and determination of South African women. Through First for Women’s principles of women and their natures, they are able to offer the women of South Africa cost effective and reliable car insurance quotes and options which are produced through the first for women car insurance.

First for Women car insurance offers a wide range of car insurance options which come hand in hand with specific benefits for women pertaining to the car insurance options, such as medical, trauma and road assist. There are three options for the prospective First for Women car insurance client. Firstly is the Comprehensive car insurance option which covers the woman’s car against general motor risks, as well as from third party damage and vehicles. The Third Part, Fire and Theft option offered by First for Women car insurance covers the client’s car from theft, fire and damage that is made to any third party’s car. Lastly, the Third Party car insurance provides coverage for the car of any third party that is part of the accident of the client of provides coverage for the car of any third party that is part of the accident of the client.

As an insurance company dedicated to providing unique and specialised insurance options, First for Women car insurance provides their clients the opportunity to continually review and evaluate their performance and customer satisfaction. This can be done by contacting their emergency assist number: 0861 00 50 52. More information on First for Women car insurance can be done by visiting their website on www.firstforwomen.co.za

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