Car accidents are unavoidable, which is why it’s paramount to know how to make a…
On behalf of The Law Offices of Howard Craig Kornberg posted in Car accidents
It’s a constant reminder to everyone watching television. During every commercial break there is either a talking gecko or a funny spokesperson telling us the importance of saving money on our car insurance. But did you know not everyone pays the same amount for the same policy? According to a study conducted by the Consumer Federation of America, women with perfect driving records paid at least $100 per year more for their insurance premiums than their male counterparts. The study examined car insurance premiums of both men and women drivers from 10 of the largest cities across the United States.
For years, there had been a perception that men actually paid higher car insurance premiums. But after further research, this is simply not the case. The CFA study closely examined six top insurance companies: State Farm, Progressive, Allstate, GEICO, Farmers and Liberty Mutual. In six different cases, researchers found applicants that were required to pay $500 more simply because they were “driving while female.” According to CFA insurance consultant Douglas Heller, women with perfect driving records were forced to pay more than men.
The study compared 165 pairs of insurance quotes for women and men. The results were surprising. It found that 40-year-old women were the group most likely to pay the highest insurance premiums. The numbers get even worse for older women. Sixty-year-old women paid higher premiums than men of the same age in nearly 60 percent of cases. But the disparity between men and women does not just affect older drivers. Even younger women were given higher premiums in several cases than their male counterparts, despite statistical data that indicates younger men tend to cause the costliest accidents.
GEICO is the second largest car insurance provider and known for its creative and funny television ads. But there is nothing funny about its insurance premiums when it comes to women drivers. The CFA study showed the company charged women higher premiums in 83 percent of comparable cases. The consequences aren’t cheap. Female GEICO customers were forced to pay average surcharges of $176 annually. The average 20-year-old woman averaged penalties of $143 compared to their male counterparts.
The CFA created driver profiles for both men and women who drove a 2007 Toyota Camry. All the people selected had no history of traffic violations or tickets. The study closely examined the premiums of both groups from 10 major metropolitan areas, ranging from Tampa to Seattle. In one instance, they found a woman is a $1,000 higher risk simply for moving from Cleveland to Tampa.
Have You Been Injured In a Car Accident? Los Angeles Personal Injury Attorney Howard Craig Kornberg Can Help
Every driver needs insurance. Unfortunately, not every insurance company treats its policyholders fairly. Far too many car accident insurance claims are either underpaid or even denied. It is vital for accident victims to receive the maximum amount of compensation to account for their medical expenses, damages and lost wages. For more than 30 years, Los Angeles personal injury attorney Howard Craig Kornberg has successfully represented many car accident victims. He and his legal team utilize an aggressive and comprehensive approach to protect the rights of car accident victims. It is part of his commitment to place each client in the best position to succeed. To learn more, contact his Los Angeles personal injury law office today and schedule a free initial consultation to discuss your case.