The new rules that men and women must pay the same for their cover takes effect on December 21, six months from now. Female drivers, especially younger ones, are likely to be the biggest losers.
Some are set to see premiums jump by as much as 25 per cent. Younger male drivers should see the biggest falls in premiums.
But overall, the Government and insurers expect everyone to lose out through less accurate pricing. In motor insurance alone, the cost to consumers is expected to be about £300million a year.
The change is being forced through after a ruling by the European Court of Justice last year, as Financial Mail has reported. This ends a special exemption for insurance from the laws on sex discrimination. It stops companies charging different prices for men and women, even where there is statistical evidence to justify price variations.
Read more: http://www.thisismoney.co.uk/money/cars/article-2160334/Womens-car-cover-bills-soar-EU-sex-equality-law.html#ixzz1y8QWFscG
The change is being forced through after a ruling by the European Court of Justice last year, as Financial Mail has reported. This ends a special exemption for insurance from the laws on sex discrimination. It stops companies charging different prices for men and women, even where there is statistical evidence to justify price variations.
Read more: http://www.thisismoney.co.uk/money/cars/article-2160334/Womens-car-cover-bills-soar-EU-sex-equality-law.html#ixzz1y8QWFscG
