Have you ever wondered why women get cheaper auto insurance than men? Is it because of their safer driving habits? According to a new study out of England, it might be because they are lying when they apply for car insurance.
New research from eInsurance Group reported that 20 percent of its insurance policies sold in May resulted in fraud investigations, with 51 percent of declined applications coming from women and 49 percent from men. So what were drivers lying about? The top three fibs to make the list are: not disclosing convictions (total 47 percent – 64 percent male, 36 percent female); misleading information about how long they’ve held a license (total 32 percent – 32 percent male, 68 percent female); and lying about possessing a no-claims discount (total 19 percent – 47 percent male, 53 percent female).
“These results show that basing insurance premiums on gender alone is misguided,” said Alan Sanderson, CEO of eInsurance Group. “The insurers should do more to tackle the liars, whoever they are, and reward honest drivers.”
What do you think about this report? Do you think the policy of charging men more than women for auto insurance is fair or is this study just a fluke? Leave us your thoughts in the comments section below.