Age also plays important factor on coverage quotes
Houston, TX -- (SBWIRE) -- 01/29/2013 -- A new study from OnlineAutoInsurance has shown how car insurance prices fluctuate based upon gender, and shows that men in Texas pay a higher total than women for coverage at nearly two-thirds of the time. It also showed that men pay a surcharge for being a man at nearly 14%.
The analysis was based upon the 276 samples drawn in a Texas auto insurance quote pool, and made available by the stated regulators through the HelpInsure.com site. The site is used as an online portal which allows Texans to look over premium estimates from the top insurers in the state, based upon a generic driver profile. The OAI collected the samples and analyzed the data for a single Houston driver with quality credit who receives basic liability limits.
"The Texas results are another example of a nationwide trend of insurers charging higher prices to men because of their increased risk of filing a claim," said OAI manager Cesar Diaz. "According to federal crash data, in 2010 the average male driver had a 1-in-19 chance of getting into an accident, while the average woman's chances were only 1-in-25.5. With those numbers it's hard to expect them to do differently."
Not every car insurer included within the study charged men more than women for the basic coverage. Men were still 64% more likely to pay more, but there was no difference in 23% of the cases. In 12% of the total cases, the women paid more than the men in coverage.
Age was a determining factor in all the sex-based pricing trends as well. When the sample driver was 25 years old, all but one insurer gave an increase for the driver being male. Quotes for males under 25 years of age came out 2-61% higher than their female counterparts. For those aged 25 to 65 years old, the results came back with women were most frequently being charged the same as male counterparts.
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