Vehicles

Auto Insurance

Do Women pay less for Car Insurance?

There are many common beliefs about car insurance rates and when it comes to a battle of the sexes women do usually win with lower premiums.

However, this does not mean you or your friend Sue will automatically have cheaper rates than some of your male friends.

The calculation of car insurance premiums is a risk formula based on a wealth of data complied by auto insurance companies, industry safety boards, rating agencies and more. In fact, one of the most common jobs for any mathematician is a job as an actuary for an insurance company. According to CollegGrad.com six out of 10 actuaries are employed in the insurance industry with mean salaries of $95,429 in 2007. (Wow --it was probably wiser to pay more attention in math class-- now I think about it.)