WalletHub, Financial Company
Yes, men pay an average of 6% more for car insurance than women. For example, a policy that fulfills state minimum coverage requirements for a 45-year-old woman costs $669 per year, while the same policy for a 45-year-old man costs $716. However, rates vary by individual driver and by age group. Male teen drivers typically pay over 10% more than female teens, while some older female drivers will pay more than their male counterparts.
In general, men pay more for car insurance than women in states where it is permitted because they are more likely to cost insurers money. Hawaii, California, Massachusetts, Michigan, Montana, Pennsylvania, and North Carolina have banned the use of gender in determining car insurance premiums.
Why Men Pay More for Car Insurance than Women
- Men drive more than women, on average, and are also more likely to die in a car accident.
- Speeding is more commonly a factor in fatal accidents where men were driving.
- Men are more likely to die in a car accident while driving drunk.
For more information, check out WalletHub’s data on average car insurance rates by age and gender.
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