Why do women only products end up cheaper?
Most women don’t know this, but many insurance products on the market today are cheaper for them, compared to their male counterparts. This is especially true for women in the 20-40 age group. Is this reverse discrimination? It is, but based solidly on statistical findings. Now, women as favoured insurance policy holders can benefits from a range of cost-effective insurance policies tailored especially towards their needs.
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Women only Finance Deals
The market for ‘women only’ insurance products and finance deals has recently exploded on to the UK insurance and finance market. Initially a US phenomenon, UK insurers and financial institutions have seen, backed by statistics, that the women only market is a highly lucrative one. For insurers, premiums for women are lower, because they tend to be less risky insurance policy holders.
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Women only Insurance
Many insurance companies now offer ‘women only’ insurance policies, as statistics have shown women to be much better risk when it comes to insurance claims. In car insurance, for example, premiums for women tend to have the biggest differential in young drivers. In this category, women drivers in the early 20s can be quoted premiums of up to 50% cheaper than their male counterparts, for the same coverage. Although the differential in premiums does decrease as women get older, premiums in general still tend to be lower than their male counterparts.
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