Do female owners get better classic car insurance premium rates?

For the most part, female drivers get a bit of a break on their insurance premium rates compared to their male counterparts. This is because, statistically speaking, female drivers are less likely to be involved in accidents. Additionally, when they do get into accidents, female drivers’ accidents are usually less serious compared to those experienced by male drivers. Female drivers also drive more slowly, and for less mileage, compared to male drivers.

All of this means that, from an insurance company’s perspective, compared to male drivers, female drivers are likely to incur less damage, fewer liabilities, and therefore have less potential cost to insurers, and less likelihood of a claim. Therefore, competitive insurance companies are able to offer female drivers somewhat lower premiums.

This effect can carry over to insurance for a classic car as well. However, even if you’re a female driver, over the age of 25, with a pristine driving record, living in a jurisdiction with relatively low insurance costs, you might still be paying much more for your insurance than you need to. This is the case if you’ve got your classic car insured under a conventional insurance policy.

Why is this? Well, conventional auto insurance policies have their own conceptions about older vehicles. They’d say that classic, vintage and antique vehicles are worth less, as their value has been depreciating since the time they were manufactured. They think these vehicles are more dangerous, to their driver and others on the road, because of their less efficient braking and safety systems. They’re also more likely to break down. These preconceptions, of course, are the result of the assumption that these vehicles will be on the road just as much as any other.

Specialty classic vehicle insurance, on the other hand, treats your classic car like it really is a classic: it’s worth more as time goes by; it’s on the road less; and it’s being used in different situations, and almost certainly not for things like highway driving and the like.

Therefore, if you’re a female classic car owner, the savings you get in comparison to a male driver on a conventional auto insurance policy are miniscule compared to the money you can save by going with a specialty classic vehicle insurance policy. What’s more, this type of policy will cover your classic vehicle in situations such as shows, shipping, overseas travel, restoration, and more. You might even be covered for damage or theft to your spare parts, accessories and memorabilia.

By getting a quote from a classic vehicle insurance specialist, you’ll see immediately how much less you could be paying. Female, male, old, or young; if you have a classic, vintage or antique automobile, the best way to make sure that your vehicle is covered appropriately and affordably is to go with specialty classic car insurance.

Posted: August 7th, 2009 under Classic Car Insurance Explained.