Ladies Insurance: Cheaper Car Insurance

2007-03-08 10:33:40

( Automobiles )



NICHE MARKET

More and more, insurance companies are going into niche-marketing, providing highly specialized insurance programs designed to cater to a very specific market.

Ladies insurance came about as insurance companies realized that women have special needs that standard insurance policies cannot address. The introduction of ladies insurance in the market is in acknowledgement of the unique characteristics inherent to being female. An example of this is car insurance for women and health insurance for women.

SLOWER DRIVER

Car insurance for women was designed in recognition of the fact that women drivers are generally safer behind the wheel. This is not to say that women are better drivers, it is just that statistics have been consistent in showing that men drivers are more often involved in more speed-related vehicular accidents which has more serious results.

While the number of vehicular accidents are equal for men and women, male drivers often have more serious cases resulting from high speed driving. Comparatively, women are often involved in less-serious vehicular cases such minor bumps and low-impact crashes.

These studies did not come from some fly-by-night research companies. They are the result of decades of careful data collection and analysis. There is reliable research to back up the conclusion that women drivers are more often involved in minor vehicular incidents.

In light of this, car insurance companies came up with ladies insurance that has lower premiums than standard, generic car policies. Car insurance companies can afford to charge lower premiums for their ladies insurance plans because the claims made by women drivers are considerably lower. These lower claims make ladies insurance less risky for companies to issue.

Ladies insurance offers all the standard features of traditional car insurance for a lower price. Of course, because the premiums are lower, the extent of the coverage may be less. Make sure to verify with your company just how well covered you are.


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