Two things happen today, December 21: The world is coming to an end. And in Europe, insurance companies are no longer allowed to vary premiums according to a policyholder’s sex. The first thought that flashed through my caveman mind was: “Those accident-prone women drivers will get great deals, and us guys will pay for it.” Wrong on both counts.
There will be a high price to pay for gender equality. It turns out that female drivers, especially young ones, were a much better insurance risk, and therefore received better rates. That’s over. “Some female drivers will pay 40 percent more for car insurance,” reports the Guardian from the UK. According to the report, premiums for young female drivers are expected to increase by between 15 percent and 38 percent. But will guys get a break then? Their rates dropped only 5 percent.