Why would women pay more than men for car insurance? I know that for young drives, women pay a lot less then men.
But apparently, it is true that in many cases, older women pay more than older men. You would think this is because actuarial studies show they cost more for the insurance company.
There is some question whether that is truly the case, BUT if it wasn’t, why wouldn’t some insurance company undercut the market, call themselves the “women’s choice”, and capture that market?
It is possible that the highly regulatory nature of car insurance contributes to this, as it makes it hard for a company to charge less.
In any case, I have not been able to find ANY insurance where females pay THAT MUCH MORE than men.
Meanwhile, there was a guy in Canada who changed his identity to female in order to save $1000 a year on his car insurance.
I will bet money the detailed actuarial tables don’t lie. Otherwise, there would have been successful lawsuits for this disparity in rates.
But there haven’t been.
(in a high voice...loooooook at the actuarialllll tablesssss!)