Why are auto rates higher for youthful males than they are for youthful female drivers?
The Oklahoma Insurance Code requires companies to use rates that are not excessive, inadequate or unfairly discriminatory. A rate is not considered to be unfairly discriminatory if it reflects equitably the differences in expected losses and expenses. Companies maintain loss statistics, which continue to show that more dollars are paid due to losses involving male youthful drivers when compared to female youthful drivers. Rating factors will be higher to reflect these figures. However, it is worth noting that the gap between the rates for youthful males and females is getting smaller.
