Car Insurance for Women: How to Get the Best Cheap Car Insurance
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If you’re looking to lower your auto insurance bill, the best way is to shop around for multiple quotes. Gender plays a minimal role in determining how expensive car insurance is — factors like driving history, age and credit score have a bigger impact than gender.
But some companies do consider gender when determining auto insurance rates. The gender price disparity is greater among younger drivers. That is because, according to insurers, women are less likely to get into an accident than men at that age.
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Key Takeaways
Gender is not a major factor in auto insurance costs.
While women may benefit from a slightly lower premium relative to men, the difference is minimal.
The best way for a woman to lower their auto insurance premium is to shop around.
Cheapest Car Insurance Companies for Women
Nationwide offers the cheapest auto insurance to women, with an average cost of $1,166 per year. Travelers ($1,412) and Allstate ($1,454) also offer women affordable auto insurance policies. These averages are based on a 40--year-old female driver with a clean driving record and no history of claims.
Cheapest Car Insurance Companies for Women
Car insurance costs depend on a variety of factors, and different insurance companies place different emphases on each of these factors. That’s why one of the best ways for women to save on car insurance is to compare rates. You can use MoneyGeek’s free car insurance calculator to quickly and easily estimate rates from providers using your specific profile.
Compare Auto Insurance Rates
Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.
How Much Is Car Insurance for Women?
On average, there’s minimal difference between car insurance premiums for women and for men. Gender isn’t too big of a factor when calculating premiums, but it has a stronger influence on younger drivers, especially teenagers and young adults in their early twenties. In those age ranges, women may experience a slightly more significant decrease in their premium compared to men of the same age.
Male vs. Female Auto Insurance
The annual premium for a 16-year old male for auto insurance is on average $5,638.
The annual premium for a 16-year old female driver is on average $5,139.
Car insurance premiums for full coverage policies for 16-year old females are on average 9% less than those for 16-year old males. This difference between males and females in car insurance premiums is only evident for younger drivers.
How Much Is Car Insurance for Women by Age?
Younger women have a cheaper premium than men on average, but only by a little bit. By their 50s, a woman’s premium actually becomes more expensive than a man’s. Rates by age and gender are more heavily influenced by age than gender. And other factors, like your driving history, play a much more important role.
Car Insurance for Women By Age
How Much Is Car Insurance for Women by State?
Your car insurance costs can vary depending on where you live. Average car insurance costs vary by state based on factors like population density, theft rate, local and state rules and regulations, and even the number of uninsured drivers on the roads. Based on our data, Idaho has the cheapest car insurance for women at around $803 per year.
Car Insurance for Women by State
How to Find the Best Cheap Car Insurance for Women?
The best way to find cheap car insurance as a woman is by shopping around and comparing quotes, keeping a good driving record and making use of any discounts that you may be eligible for, such as safe driving, bundling or an occupation-related discount. Gender isn’t a major factor when it comes to auto insurance premium calculations, so it’s faster to just look for the cheapest insurance company than to look for a carrier for women.
Are you looking to cut down on your costs? We cover some of the best ways to save on car insurance below.
Using Discounts
One of the easiest ways to lower car insurance costs is to take advantage of discounts.
Common ways to save include a discount for bundling multiple policies like home and auto, enrolling in automatic payments or paying your policy in full, being a safe driver or taking a defensive driving course. Young drivers may also save with the good student discount.
Increase Deductibles
If you’re looking to lower your auto insurance, increasing the deductibles for comprehensive and collision coverage will help.
While it will lower your premium, keep in mind that you have a higher out-of-pocket cost if you ever need to file a claim. You should carefully consider whether increasing deductibles is right for your situation.
Telematics-Based Car Insurance
Some drivers, such as those who drive infrequently, may benefit from telematics-based car insurance.
This usage-based car insurance records the amount you drive, and the basis for the premium is how many miles you drive.
Customers who only drive recreationally — rather than regularly commuting — may be able to save on car insurance.
Telematics-Based Discounts
Some insurers offer telematics-based discounts that record your driving in real-time, monitoring factors like braking and acceleration, speed, time of day and more.
If you’re generally a safe driver, you might want to consider this option, which can save you up to 10% off your premium, depending on the carrier you choose.
Shopping Around
Shopping around for multiple quotes is one of the best ways to find cheap car insurance for women. Since insurance companies often use different formulas to calculate rates, getting personalized quotes is the best way to see how much you could potentially save. You can also use the best car insurance calculator to estimate prices from multiple companies.
Car Insurance Discounts for Women
Discounts are one of the easiest ways for a woman to lower their car insurance bill. There are several different common car insurance discounts that can help you to reduce insurance costs.
Car Insurance Discounts for Women
Discount | Description |
|---|---|
Safe Driving | Women can take advantage of a discount for safe driving. This discount is generally based on a lack of accidents, violations or major claims in your history. |
Bundling | Many insurers offer a discount for bundling home/renters insurance with auto insurance. Bundling means you have both policies with one company. |
Good Student | Female high school and college students with good grades may take advantage of a good student discount. |
Military Discount | Some insurance companies offer a discount to military members, veterans and their families. |
Occupational Discount | Depending on your occupation, you could qualify for an additional discount. Common occupational discounts include farmers, healthcare workers, teachers, firefighters, EMTs, and state and federal employees. |
Affinity Organization | Some insurers offer a discount for members of certain organizations, such as the American Society of Registered Nurses. |
Automatic Payment | Setting your car insurance payments on auto-pilot is an easy way to save. Many insurers offer a discount for enrolling in auto-pay or paperless billing. |
Pay in full | If you pay your auto insurance policy in full up-front, you may save money. |
Do Men or Women Pay More for Car Insurance?
As teens and young adults in their early twenties, men tend to pay more than women for car insurance on average. For older drivers (around age 50+), women tend to pay slightly more than men. According to insurers, younger female drivers are less likely to get into an accident compared to younger male drivers. Drivers with a bad driving record, regardless of gender, will pay more.
Frequently Asked Questions
Car insurance can sometimes be a little confusing. We’ve answered some common questions about the best cheap car insurance for women below.
Experts' Insights on the Best Car Insurance for Women
- How can I find the best car insurance for women?
- Why is gender used when calculating insurance premiums?
Financial Advisor at Fiduciary Financial Advisors
About Margaret Wack
