Sunday 22 January 2017

Car cover costs young men an extra €1,000

Charlie Weston Personal Finance Editor

Published 11/01/2012 | 05:00

YOUNG male motorists are being charged up to €1,000 more for insurance than women.

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But insurers are being urged to narrow the gap in pricing between male and female drivers ahead of new rules that will ban the use of gender when setting premiums.

A survey by brokerage found that a 19-year-old woman can get her motor policy for €1,000 less than a male of the same age.

Chill sourced 14 quotes for male and female drivers from seven counties, aged 19. A male seeking insurance for a 1998 Honda Civic, seeking fully comprehensive cover, got quotes in seven counties at €2,508.

Fully comprehensive insurance for females varied from €1,904 in Donegal to €1,453 in Dublin.

A similar pattern was found with third-party costs for 19-year-olds.

The best value for males in all counties was €1,588. Females were quoted the same €1,588 in the majority of the counties, with those living in Dublin quoted €1,362.

Chill said this showed the importance of seeking out a large number of quotes.

Irish Independent

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