To What Extent Does Gender Affect Oklahoma Auto Insurance Premiums?
In Oklahoma, as in practically every other part of the country, men tend to get charged more for car insurance than women with comparable coverage profiles. This is because statistics consistently show men are involved in accidents at a higher rate than female drivers, especially when it comes to fatal crashes.
According to a 2011 rate-comparison published by Oklahoma regulators, men in that state pay an average of about 12 percent more for coverage than females. The average difference fluctuates widely, though, based on the insurer and the age of the driver.
The Oklahoma auto insurance rate comparison shows sample quotes for a 16-year-old, a 21-year-old, a 36-year-old, a 55-year-old and a 70-year-old. For each, rates from 19 different companies are provided for both male and females. All are rated for the same car and policy.
Younger Drivers See Largest Gender-Based Pricing Differences
The Centers for Disease Control and Prevention has long said that younger drivers are more likely than older drivers to crash, and it has also pointed out that young males are even more likely to get into an accident than their female counterparts. Insurance claims data must reflect this trend, because young male Oklahomans get charged substantially more than young females in the state.
While the average price jump between a female driver and a male driver for all age brackets was 12 percent, the price hike for 16-year-old males is even more pronounced. The 16-year-old male in the car insurance comparison was quoted an average of 35 percent more than the female for the same policy.
Choice of coverage provider played a major role in how much more males were quoted for coverage. Depending on the insurer, the surcharge for being male ranged between 7 percent and 71 percent.
There is some hope for male drivers, though. One insurer's quotes for 16-year-old males were actually about 16 percent lower than those for females of the same age.
Pricing Differences Diminish with Age
Gender-based price differences still remain as age increases, but they are nowhere near the average for 16-year-olds.
By the time a male driver turns 21, he is paying an average of 26 percent more than a woman of the same age with the same car, same driving history and same coverage details.
At the age of 36, drivers of both sexes are basically paying the same rates.
The gender gap is not really an issue again until the driver is around 70 years old. According to state data, male 70-year-olds pay an average of about 2.3 percent more than their female counterparts.
Stats Reinforce Pricing Differences
Statistics from national and state agencies quantify the extent to which men are greater risks on the road than women.
According to 2010 data from the Oklahoma Department of Public Safety, male drivers were involved in all types of crashes at a rate that was 28 percent higher than the rate for female drivers.
When the focus is only on fatal accidents, the involvement rate for males is about 2.8 times as high as the involvement rate for females.