Changes to EU Gender Directive due this week

As of this Friday (21st December 2012), it will be illegal for insurers to offer different premiums to men and women based on their gender alone.

Insurance companies have slowly been phasing their price changes in recent weeks, with new pricing required to be in place from the 21st of the month.

As a result, prices for women will rise, while men’s premiums will drop. The changes will be most pronounced for young drivers – female drivers under 25 could see a 25% hike according to the British Insurance Brokers Association. Men could see a more modest fall in cost of around 10%.

The change is designed to make things fairer for the customer, however women have gotten used to cheaper premiums over the years – and the change in the law could price some young female drivers off the road.

The BBC has a great video summing up the change and its impact – you can watch it here.

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