Confused.com is warning that potential EU legislation changes, which could stop insurance providers using gender for pricing, could be an unwelcome move for motorists.
The European Court of Justice has been asked to decide whether lower insurance premiums for women fall foul of anti-discrimination legislation; however the price comparison site, warns that for motor insurance, it may only serve to increase premiums for men and women.
Will Thomas, head of motor at Confused.com, says: “Women do not pay less for their premiums because of positive discrimination but based on statistical evidence suggesting that, on average, they have smaller, less expensive accidents.
“Insurance pricing is founded on risk assessment and to take gender out of the equation may pave the way for removing other pertinent factors. Age, occupation and number of convictions also have a bearing on the final price of the premium. Without these considerations everyone would be paying exactly the same price that is likely to be a lot higher than they deserve, with providers vying to attract women drivers over men to keep their overheads down.
“Gender isn’t always the strongest price indicator when it comes to risk and men expecting their premiums to drop automatically if this is passed will be in for quite a disappointment.”
“The best way to keep insurance premiums down is to shop around at renewal time and avoid accidents and convictions.”
