Car Insurance rockets up for women Apr04
Insurance Rockets up for Women
insurance premiums for women will rise by up to £500 pounds following a
vote in the European Parliament this week, despite opposition from
women are regarded as safer drivers by the insurance industry because they
tend to drive shorter distances, have lower annual mileages and drive more
slowly, the EU proposals approved in Strasbourg this week will make it
illegal for companies to take into account differences between men and
women as drivers when setting premiums.
Association of British Insurers has said that the plans could put women's
premiums up by as much as £500.
Khanbhai Conservative Euro-MP for the Eastern Region, who voted against
the plans said:
discrimination should be banned, but this is completely over the top. The
car insurance industry is in business to offer cover on the basis of risk
of specific drivers with respect to gender, age, profession, type of
vehicle, value of vehicle and geographic location. To exclude one of these
factors will distort pricing, and disadvantage women who currently enjoy
lower rates. Women will now have to pay up to £500 more a year for car
insurance as a result of these unnecessary laws."