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 |  Sep 25 2010, 3:56 PM

You’ve heard that women pay less then men for car insurance, but have you ever done the homework to back up this claim? InsWeb has, and it’s true – women typically pay less than men for their policies.

The data collected by InsWeb, an online insurance comparison provider, shows that women pay an average 9 percent less than men do for their car insurance policies. The company surveyed the current national six-month averages for car insurance, and the results came in at $698 for women and $765 for men.

Guys, don’t feel bad and don’t take it personal. It has to do with numbers. These rates are based off the underwriting policies that most leading auto insurance companies use, and each auto insurer assesses the risk for paying out future claims.

Here are some of the numbers that auto insurance companies are going off of. It’s a fact that men are 50 percent more likely to have a DUI or DWI on their driving record than women. When it comes to moving violations, women are 10 percent less likely to have one on their driving record. On top of that, women tend to own cheaper vehicles than men – on average, women’s vehicles are valued at 8 percent less than a men’s ($22,815 vs. $24,861). Another fact is that when women are listed as the primary drivers on a policy, they are less likely to have multiple drivers or vehicles listed on a policy. Crunch all the facts together, and men come out with a higher premium.

What do you think? Do you think this method of determining insurance premiums is fair or should they be set on an individual basis? Let us know in the comments section below.

[Source: Kicking Tires]