Is car insurance cheaper for women?

Factors used to calculate your quote

• YOUR AGE The younger you are, the greater the risk of having an accident so insurers will charge higher rates for young drivers under 25. If you’re an older driver over 65, you may also find your insurance premiums creeping up, regardless of your driving history.

• WHERE YOU LIVE Location is one of the key factors. Urban areas are seen as higher risk than rural areas and if you live in a high crime area you’ll pay more. Insurers will also assess an area for traffic accidents and claim rates so keep your car safe when parked.

• WHAT YOU DO Your job affects the price you pay for premiums, especially if you use your vehicle for work. A job that’s high risk or involves lots of driving will mean you’ll pay more for your premiums.

• YOUR DRIVING EXPERIENCE The longer you’re behind the wheel, the cheaper your premiums get, especially if you have a clean driving record and no criminal offences. Points on your driving licence will push up your premiums and make it harder to find cover.

• YOUR ANNUAL MILEAGE The further you drive, the greater the chance of accidents or breakdowns so insurers will view you as a bigger risk. Conversely, if you work locally or only drive on weekends, you’ll be assessed as lower risk and premiums will reduce.

• YOUR CLAIMS HISTORY Once you’ve made a claim on your policy you could pay up to 40% more at renewal if you’re found liable for accident costs or make multiple claims in one year. You’ll also lose your no claims bonus if you have one.

• THE COVER LEVEL You can choose from Third Party, Comprehensive or Third Party Fire and Theft cover. The more comprehensive your cover, the higher the price but it’s important to get the right cover for your driving habits, so don’t just opt for the cheapest level.

• HOW YOU PAY Most insurers give you the option to pay annually or in monthly instalments. If you pay a monthly premium you’ll pay extra due to interest charges. It’s cheaper to pay upfront, but with the average annual premium over €600, this isn’t always possible.

• THE EXCESS PAID Insurers charge a compulsory excess you must pay towards a claim. In addition to this, a voluntary excess is the extra amount you agree to pay if you make a claim. You can get a cheaper quote if you pay a higher amount of voluntary excess.

• CAR INSURANCE GROUP This system categorises cars into groups according to risk profile. Some insurers use this to assess which cars will likely generate the most costly insurance claims. Every make and model of car is assigned to one of 50 insurance groups.