As the old rate book goes out the window, Gocompare.com tells drivers you can benefit from EU gender shake-up, but you must shop around. Gocompare.com is urging drivers with car insurance renewals coming up to shop around to find the best quote following the EU gender shake-up.
Following the release of the latest AA Insurance Premium Index, Gocompare.com's head of motor, Scott Kelly, said: "Insurers have delivered the biggest shake-up in car premiums for years. The EU gender ruling has forced them to throw their old rate books out and start again by reassessing which markets they compete in, how they rate different risks and how much they charge.
"One of the big surprises is the drop in premiums for young males (17 and 18 year olds). We've seen a 17% decrease in the average best premiums for young male drivers since 1st December 2012, while premiums for 17 and 18 year old females have increased by 42%.*
"There is a good chance that your current insurer will have fundamentally changed the way they calculate their premiums since you selected them, as they are now no longer able to use gender as one of the main factors. So, you certainly shouldn't just roll-over your car insurance policy at renewal and accept the price quoted. Even if the premium looks to be similar to last year it is well worth shopping around as there is a good chance that other insurers could now be offering a better deal."
Notes to Editors:
* Gocompare.com's ‘Gender Watch' survey analysed over 10 million real car insurance quotes carried out on Gocompare.com between 1 January 2011 and 23 January 2013.