You have probably seen the advertisements for Sheilas Wheels car insurance. Three beautiful blonde women sit in a pink bubblegum-pink car and are looking very pretty. The good-natured girls are juxtaposed with a group of Australian sheep station men who were left out of the cheap women-only car insurance plan. It is clear that sisters are insuring it themselves. Is this just marketing hype or a benefit for female drivers?
Insurance companies recognize that women are more affordable to insure, and they reflect this fact in their policy prices. According to the AA, this will continue until women reach middle-age. This is based on insurance quotes for men and woman who drive a Ford Focus and live in Cambridgeshire. Age 17 for young drivers is PS1,938.13 an year. For men, this number rises almost PS1,000 to PS2,906.25. The cost of insurance for women at 30 is still more than PS40, but it’s cheaper at PS367. The savings drop to less than PS7 at 40. The cost of women’s insurance is only 45 pence less for men than women over 50. When their premium reaches PS245.40, men can have a PS7.30 advantage over women when they turn 60.
The promise of lower rates is based on the fact that women are less likely to be involved in serious accidents. Therefore, they should be safer and more affordable drivers to insure.
It is clear that men lead in appalling driving. The Home Office has released statistics that show almost three quarters (96%) of speeding offenses, 96% of dangerous driving offenses and 85% of careless driving are committed by men.
Sheilas Wheels promotes the idea of car insurance that can be customized to meet women’s specific needs. You can get handbag insurance starting at PS300. There is also a counseling line for women after an accident and the promise that there will be repair methods that are woman-friendly. They ensure that cars are available for collection from garages at daylight, or during school runs.
Diamond, part of the Admiral group, is a pioneer in car insurance for women. She believes dedicated services for women are part of broader social change. A majority of women have a driving license (61 percent of women, compared to just under four fifths for men). Insurance that is exclusively or female-friendly is an independent decision. This is due to the increase in single female households and the increasing number of women who own their car.
Companies like Diamond and Sheilas’ Wheels offer the best deals on the market, but non-specialists companies don’t believe that gender-specific insurance provides the consumer with much more. These brands are part of clever advertising campaigns, they warn. Sheilas Wheels is not an Australian company, but is part of the HBOS Group, which also includes esure and Halifax.
Although it is possible to draw general conclusions about the cost of cheapness, it is not always accurate. You can get different results by changing a few variables such as age and occupation. Comparative studies show that the postcode is more important than gender. Living in Liverpool will increase the cost of your insurance, while living in rural areas with low crime like Norfolk will lower your premiums.
It is best to review the policies offered by insurers and determine which one best suits your needs.
