Men are more high-risk than women.
Women are more likely to scratch and dent the car, while men are more likely to ride-off the car. Picture: iStock
Women drivers have been the subject of jokes and stereotypes for decades. You know the ones. The shopping trolley that somehow appears out of nowhere. The gate that definitely looked wider yesterday. The parking bay which, inexplicably, is suddenly shorter than normal.
“Oops,” most women drivers say. However, King Price Insurance’s claims data has revealed that there’s actually some truth to the frequency of these little everyday mishaps.
Sakina Ntuli, spokesperson at the insurer, says women report around 5% more minor accidents than men, and women are 30% less likely to be involved in major single-car accidents. This is an important distinction because insurers don’t simply count the number of claims a client lodges; they also look at what these claims cost.
Women have more minor incidents than men
Simply put, women are more likely to scratch and dent their cars, while men are more likely to write off theirs.
“A scratched bumper and a dented fender might bruise your pride, but they generally don’t bruise your insurer’s balance sheet nearly as much as a major collision,” says Ntuli. “Frequency is only one part of the story. Severity often matters much more.”
She adds that their data suggest that women may have a few more ‘oops’ moments than men, but this is better than the likelihood of colliding with an animal on the road.
“Across claims for accidents, theft, storms, and hail, their average values are consistently lower too, with some categories costing up to 35% less than comparable claims from men.”
Men are more high-risk compared to women
Ntuli says the data also revealed that men are more high-risk than women.
“The data translate into real differences in risk because one serious crash can easily cost more than several small claims combined. When we assess risk, we look at the complete picture rather than a single incident. The size of a claim is every bit as important as how often claims happen.”
She highlights that same thinking is reflected in how insurance premiums are determined. On average, women pay around 18% less for car insurance than men. Even when they’re driving exactly the same model, their premiums are still around 12% lower.
How insurance premiums are determined
Ntuli adds that it doesn’t mean insurers reward women for being women. “Insurance premiums are based on measurable risk. We consider everything from individual claims history and driving patterns, to where a car is kept and what it’s used for, to repair costs, and many other factors. Gender is only one small part of a much bigger picture.”
An individual’s choice of car also plays a role, with the data showing that women are more likely to insure practical, affordable cars, and men more commonly insure higher-value models that, naturally, cost more to repair or replace.
“The car you choose influences your premium because every model carries a different repair and replacement risk,” says Ntuli. “When you combine this factor with overall claims trends, you start to see why insurance pricing differs from one person to another.”
“The statistics don’t support the stereotypes. They show that risk is much more nuanced than people think.”
