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Discussion in 'Off Topic [BG]' started by iamlowsound, Sep 4, 2008.

  1. I was just running some online quotes for car insurance. I am a 20 y/o male with one accident and one ticket. For my 1994 VW golf it would cost me $249 a month. Just for fun I decided to see what a female with the exact same driving record would pay, $159 a month. Ridiculous! Both drivers (me and the hypothetical female driver) have both proven their driven capabilities (or lack thereof, depending on how you look at it) with 4 years experience. Is there any logical reason why insurance is that much cheaper for a female? I know the stats, males are more likely to have a major accident, but females are over 4 times more likely to have a minor accident such as rear-ending someone at medium speed (30-50km/h). Makes me mad, on the plus side I can afford that so I might be putting my car on the road soon.

  2. PSPookie


    Aug 13, 2006
    Ocoee, TN
    The higher risk of a major accident means greater variance in the statistical model for young males. It all boils down to the nature of risk and insurance. You pool risk to reduce variance -- bringing a higher variance into the equation means you have to pay more.

    Consult your friendly neighborhood actuary for a more detailed explanation.
    www.soa.org used to have an excellent paper explaining it but I don't know if it's there anymore.
  3. tplyons


    Apr 6, 2003
    Madison, NJ
    Yep, we males are screwed until we're 25. Welcome to being screwed by statistics.
  4. Yep. The funny thing is that of all the people I know personally, the females are the ones who've had more accidents.
  5. One accident for me and I pay $2200 a year.
  6. Dangle


    May 28, 2008
    get older and or married and it'll be cheaper.
  7. selfblessed


    Dec 29, 2006
    Phoenix, AZ
    Yup. I have a perfect record across the board. I was raped for years by the insurance company. My wife...(Well my girlfriend at the time)she gets in an accident, 3 months later her rates go down like 40 bucks a month. BS! What you can do, and all of you other young "male" drivers out there is this. Drive carefully. Stop being dumb. Hopefully after about 6 or 7 generations the stats will show better driving by young males drivers thus lowering the rates of your great to the 7th power grandsons.

    Oh yeah, check your tire pressure!
  8. Vic Winters

    Vic Winters Supporting Member

    Apr 20, 2006
    Rochester, NY
    Yet another reason we deserve to make more money than them.
  9. selfblessed


    Dec 29, 2006
    Phoenix, AZ

    I wish this insurance stuff was done on an individual level. Factoring in where you live, distance/amount of driving and YOUR driving record. Just because some a holes before me sucked at driving doesn't mean I do.

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