Whether you found this title compelling and titillating or offensive and sexist, chances are it got your attention – because this is about the cheapest car insurance as it relates to gender, and how cheap is not always better (not the Broadway musical or the film version that starred Frank Sinatra).

It may be the best way to go, however.

Despite the many gains made by women over the past 100 years or so, it’s no secret that women in America still make about 78 cents for every dollar a man earns while they are charged more for things such as health care services. It shouldn’t be surprising to learn that men also get the best car insurance.

WHAAT?!?

This was a recent headline published (in several variations) on a number of websites recently, and it certainly gives one (especially a woman) occasion to pause. After all, male drivers present higher risk. Is society so utterly misogynistic that women, who are safer drivers, must be charged more for insurance than men simply because they are women?

Dig deeper. It’s not about cheaper auto insurance.

What They Really Said

Most people, being terminally busy these days, usually have little time to do more than scan the headlines – and these headlines are enough to make your blood boil (the purpose of a headline is to get your attention, positive or negative, after all). But if you actually read what the reporters have to say, you’ll find that it really confirms everything you already thought about male drivers – and that when it comes to auto insurance, better is not necessarily cheaper.

Insurers haven’t changed their minds about male drivers. Actuarial science continues to confirm the fact that men in general are riskier drivers and are involved in more accidents. Accordingly, insurance companies continue to give women lower rates.

The only reason men get better insurance is because they pay for it. A man is more likely to shell out for full coverage auto insurance because frankly, he needs the protection. According to one company, Post Office Car insurance (POCI), nearly 33% more men get full coverage than women – although the number of people seeking comprehensive coverage on their vehicles is definitely on the rise.

Should You Have Comprehensive Coverage?

Before you run out to get full comprehensive coverage on your car, there are a few things to consider.

First of all, how old is the vehicle? Comprehensive coverage is a good idea for a new car – and in fact, whoever provides the loan may insist on it. However, once a vehicle is about five years old or so, it starts to make less sense. It’s definitely not worth it once you’ve been driving the vehicle for ten years or more, because you’re paying for more insurance than the vehicle is worth with a full coverage policy.

The rule of thumb is this: if the value of your vehicle is less than ten times the amount of your yearly premiums, you should get rid of your collision and comprehensive coverage and go with basic liability and uninsured motorist protection.

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