Times may be tough for many drivers, especially with fuel becoming more expensive by the day, but a new ruling from Europe on the amount charged by insurers for male drivers could bring a little unexpected cheer. The Gender Directive from the European Union, which became law in December, will see men charged the same amount as women for car insurance.
On the face of it, that could be interpreted as good news for male motorists, as they’re unlikely to be hit by higher insurance costs in the immediate future. In fact, there may be a strong possibility that male drivers could be able to pay less, whether or not they decide to shop around for a deal with a different insurer when their current policy is up for renewal.
Gender equality – a sign of things to come?
Before the Directive was signed into law, women were typically charged less for car insurance. Many insurers viewed women drivers as being a little less risky to cover than men, as male drivers were statistically more likely to claim or be involved in an accident.
For male drivers, this is welcome news, especially as it will make finding a cheaper deal a little easier. “The vast majority of people who call 123.ie, or who go online for a quote, receive a lower quote than from other insurers”, said Padraig O’Neill from insurers 123.ie.
“We now have over 300,000 customers and that’s why 123.ie has become one of Ireland’s great success stories. We are all absolutely delighted with these new figures”, he added.
Savings made easier
Research by the insurer revealed that seven out of eight male drivers were likely to save money by taking out a policy with them. This figure could increase further with the Gender Directive being enforced.