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Female car insurance

BIG clean GREEN

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Just received this in an e-mail from moneysavingexpert.com,

Either way they're just robbing ba5tards !

Martin's Quick BriefingUrgent! Poss. 50%+ women's car insurance hikes
New 'men and women pay same' rule could change insurance for everyone
The European Court will rule on 1 March whether insurers break discrimination laws by pricing men and women differently. If, as many expect, it decides both must pay the same, we may see immediate, huge price changes on new policies.

Don't always expect prices to meet in the middle. Costs for the currently cheaper gender could rise by more than the other drops by (see MSE news).

Car insurance warning to women

Women, especially if younger currently pay less than men, as they typically have fewer accidents. 17-30 year-old men pay an avg £2,050; women nearly £800 less (usually evens out at 40+).

So younger women could face massive hikes in March, while younger men may see prices drop slightly.

Act quickly. If your price may rise and you're due to renew, do it ASAP to beat the deadline (nowt's lost if nothing changes).

Not at renewal? Urgently check if you can get suitable, cheaper, insurance by switching anyway as prices are already up 41%. If you can save, ask if you'd get a pro-rata refund for cancelling your existing policy (some charge a fee, so factor that in) you could get a new cheaper policy starting now, then be on the lower price for longer if the Court does rule.

Speedily find the cheapest insurance. First combine results of comparison sites MoneySup* and Gocompare* to get a wide range of quotes quickly, then add Aviva* and Direct Line*, two major players they miss. Finally try cashback sites. Step-by-step guide: Cheap Car Insurance

And it's not just car insurance...

Health insurance warning for men

Men tend to pay less as they're less likely to visit doctors or suffer some chronic diseases. One quote had a 40-year-old man paying 10% less for basic cover, so chaps may face hikes if the ban happens. If you're considering it, speed may save.

Term life insurance warning for women

This pays a lump sum if you die within a set time; usually to repay mortgages or pay cash to dependents. As women tend to live longer, they pay less. A 40-year-old female smoker could pay £4,800 over 20 years for £200,000 cover, compared to £5,820 for a man. So gals, if looking to get it anyway, speed may cut costs. Guides: Life Insurance, Mortgage Assurance

As noted last week, male annuity rates could also drop - see the Insurance overhaul MSE News. Free printed Booklet: MSE Annuity Guide.

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