New survey reveals gender gap for car insurance

Women, including those with modified insurance policies can expect to enjoy cheaper premiums than men until they hit their 50s, according to research by moneysupermarket.com.

During the past year, the average quote for a woman in her 20s was £320, 16 per cent cheaper than for men of the same age.

Overall, men paid nine per cent more for cover than women.

However, the starkest difference was revealed among teenagers, with the average 18-year-old woman paying £861 less than her male counterpart.

Peter Gerrard, head of insurance at moneysupermarket.com, said: "Young and newly-qualified drivers have long been perceived as high risk by the insurance industry."

However, teenage males who get through their first year of driving without incident can expect to enjoy a typical reduction of over £900 when they hit 19.

Research by uSwitch has shown that motorists are forking out an extra £624 million a year for car insurance by paying in monthly instalments.

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