Jaybird-UK

Insurers cannot charge different premiums to men and women because of their gender, the European Court of Justice (ECJ) has ruled.

http://www.bbc.co.uk/news/business-12606610

Good this equality isnt it?

fivetide

iTrader: (1)

Not likely. Just means women will now pay the same as blokes. Apart from the Sheilas' the insurance companies must be over the moon!

5t.

Jaybird-UK

They are touting a 10% reduction in male policies and and up to 25% increase for woman on the radio just now

stilover

10% reduction in male policies?

You actually belive for a second they'll reduce premiums for men? Not a chance.

Moley

iTrader: (9)

As above, a discount for males drivers is highly unlikely

Tidgy

from what i gather SW were crap anyway

GlesgaKiss

Another great day for the European Court of Injustice.

Steve vRS

Don't forget that the ways pensions are calculated will have to change too as it's unfair to reward men for dying before women with better annuities!

Steve

Geezer

This could be the thin end of the wedge, where does it stop? All sorts of people could start to cry unfair, so everyone (assuming similar levels of NCD) would pay the same. Good if you're 17, not so good if you're 50 with a spotless record.

Geezer

fivetide

iTrader: (1)

Surely that's also against the same legislation on the grounds it discriminates on age?

The insurance companies are going to have to think of some interesting new ways to legally "assess risk" on individuals.

5t.

speedking

The representative of the Insurance Industry on the BBC Breakfast News this morning said "Female premiums will be increased, but male premiums will not be reduced because they have more acccidents and make bigger claims.

Does he not understand how his own industry works

A pot of money is taken in premiums and that has to exceed the amount paid out in claims. The amount paid out will not be affected. So, when the pot taken in increases, then the total can be balanced by reducing male premiums.

The only way he can be correct is if male premiums are set artificially high to discourage male drivers because they are a high risk group. Surely that in itself is sexist?

speedking

It would get rid of a lot of spurious calculations if there was just a flat rate motor insurance premium with NCD irrespective of age, sex, vehicle type, postcode, etc.

Surely the NCD is a good indicator of whether you are a safe driver / live in a dodgy neighbourhood / use a garage, etc.

Coffin Dodger

Besides which they are ESure just with a bit of pink re-branding added. Suspect as a female or male you'll get a similar quote from ESure directly. It's just a marketing gimmick to make wimmins think they are getting a good deal.

fivetide

iTrader: (1)

But then why would someone in a Ferrari have to pay the same as someone in a Fiesta?

The age thing will have to be "Experience" so without saying "you are older" the insurance company can ask "what's your motoring experience" which new drivers (majority youngsters) will have less of.

The rest will be loaded on claim history, car, miles driven etc etc. On the face of it, basing the premium purely on an individual and not 'tarrign them all with the same brush' does make sense but I can't see it being done very well and I can't see it reducing anyone's premium.

5t.

David Lock

It's crazy. Insurance is about carefully assessed risk.

It's about as stupid as changing betting on horse racing where every horse has to be given the same odds

dl

GlesgaKiss

So then some people pay more than they would if the market was free, while others pay less. Sounds very much like discrimination to me. It's also edging ever closer to a 'state' insurance policy, Comrade.

Gigsy

10% reduction?

I think not. For me at least I suspect it'll mean I have to pay at least 25% more on my policy due to no longer receiving the discount from having my wife as a named driver and 50% more on my wife's policy.



You're right. However, I think we're all aware that insurance companies are about to see a massive leap in profits... time to buy some shares to fractionally offset the rise premiums.

Terminator X

iTrader: (7)

Agreed. Perish the thought that premiums would reduce to match the wimmins ...

TX.

f1_fan

iTrader: (9)

We have had this debate a few weeks ago, it got quite interesting in the end:

https://www.scoobynet.com/non-scooby...insurance.html

kingofturds

iTrader: (1)

The only winners out of this will be the insurance companies.

Terminator X

iTrader: (7)

Boo, hiss

TX.

Gigsy

I do agree with you that if women are less of a risk then they should pay less, just like I would expect to pay less than a 17 year old that's just passed their test.

However, I'd like to see some proof that the total amount spent on male claims was twice the amount as spent on female claims as some premiums would seem to suggest.

Insurance is about profit at the end of the day.

Modifications

iTrader: (6)

Our lass had a renewal quote from Sheilaswheels last week, and i was shocked that her quote last year was £350.00 this year its just over £1000

they said it was down to the area lol

Jaybird-UK

mind me asking what car/age of driver?

thats a massive jump

Modifications

iTrader: (6)

Zafria 2008, 1600 life

47, full no claims

she has shopped about and got it for £350

scud8

iTrader: (1)

It's still legal to factor in how long you have held a driving licence, which probably counts for more than age anyway.

In my opinion this is a good move, and totally justified. The reality is that a relatively small number of young male drivers are reckless and end up making some large claims, so it's hardly fair to penalise all young male drivers just because they have a Y-chromosome. Put another way, there would be plenty of complaints if insurance companies came up with statistical evidence that natural blondes or people with green eyes have more accidents and used it as an excuse to ratchet up their premiums - and there really is no difference.

What I think (or at least hope) will happen is there will be a profusion of add-on driving qualification such as pass plus and the insurance companies will start properly factoring in these qualifications as a genuine prediction of risk.

J4CKO

iTrader: (1)

I think we will need to rely on the fact there is still some competion for your business, just shop around, they still want the business, especially if you are a good risk in non gender specific.

The reason insurance is so expensive is all the "Whiplash" claims very time there is a bump, regardless of is there was any injury and the legions of scumbags driving into each other for the payout, the insurance companies dont help themselves, a mate had a courtesy bike after he was knocked off, they could have paid out straight away but they dragged it out and the rental on the courtesy bike was more than the payout as they dithered and fannied about, only winners beign the rental comapny as they basically got the bike paid for by the insurance company, takes a lot of premiums to pay for that one incident.

J4CKO

iTrader: (1)

Apart from the fact I pay my wife's insurance so I get stung anyway, there is a certain ammount of wry amusement at this, all that stuff about equality in pay, promotions, benefits, pensions, legislation, getting the vote etc etc and thats great, victories for female kind.

Equality loses its appeal when your insurance goes up doesnt it ladies !

Whats next, female only gyms banned and the ladies swimming night at the baths, never understood that, there was never a blokes only one*


*not that I wish to attend such an event, but resent the implication I am not to be trusted in a pool with women being such a Leering, hormone crazed sex pest !

Lee247

I doubt this will make that much difference. There will still be companies around touting for the business. This EC milarky is a flippin' joke. Good old Brit. EC says jump and we say how high
In certain parts of the NE, there are still working mens clubs Wimmins have to be signed in if they want to go there. No idea why anyone would mind.
Wonder if the EC is going to tackle that next

GlesgaKiss

Why would they want to go to a club though? Would that not use up valuable time that they could be cleaning the house?