How Do Car Insurance Companies Treat Gender Bias?
Car insurance companies use these statistics to structure their premium rates. They study the data from the accident records and use this information to decide higher insurance rates for people who showcase a high probability of risks related to driving and lower rates for those who showcase a low probability in risks related to car accidents and damages. It is important to remember that gender is not a significant determinant of car insurance rates. There are several other factors like age, marital status, credit history and driving history that determine the insurance premium. There is definitely a premium rate difference for people who are below 25 years of age and people who are above 25. Young drivers pose a greater driving risk; therefore drivers between the ages of 16 and 25 are given higher insurance rates. Insurance companies also tend to offer higher car insurance premiums to single clients than to those who are married. People who are married with kids are considered more re
