Cars seem to be getting more and more expensive, with the rise in fuel costs and now the EU suggests that women may be expected to pay more for their insurance.
The European Court of Justice (EJC) has expressed the opinion that the way companies charge men and women different amounts for insurance products could contravene anti-discrimination laws.
The Advocate General has argued that offering cheaper premiums to women could be illegal even though women make fewer claims, cause less accidents and, statistically, make less expensive claims.
“If the Advocate General’s view became enshrined in EU law this would be grossly unfair on young women,” said Nigel Lacy, the co-founder of Young Marmalade – the specialist young person’s insurance provider.
“There is a minority of young male drivers who are increasing the cost of insurance for all road users. Statistics from the Department of Transport indicate that one third of all the men killed or seriously injured on the roads are less than 25 years-of-age,” said Mr Lacy.
“Those under 21 were ten times more likely to have an accident than the over 30s. The cost of their claims is more than three times more expensive than the older age group.”
The AA released shocking figures that demonstrated that car insurance had risen by 40.5 per cent over the last year. But the premiums for males aged between 17 and 22 had rocketed by over 46.6 per cent to an eye watering £2,457.
“But averaging prices over a 5 year age range hides the truth that insurance for 17 year old males is more than double this figure, which is pricing many young drivers out of the market or they simply drive without insurance,” added Mr Lacy.
Currently, a young woman in the 17 to 22 age group can expect to pay about £1,400. If the EJC decided that this was discriminatory this discount would disappear and the cost of insuring young male drivers would be distributed throughout the whole industry.
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