A specialist insurance service for women drivers aims to cut the cost of car insurance in nine out of ten cases, reducing the impact of the Insurance Premium Tax (IPT) rise in the 2016 Budget.
In 2012 the EU Gender Directive prevented UK insurers from using gender to calculate motor insurance premiums. As a result, many younger and typically less risky women drivers have had to pay the same insurance rates as statistically-proven more risky boy racers.
The 2016 Budget increased Insurance Premium Tax (IPT) which gets added to motor premiums and because it is a percentage it hits those who are already paying the highest premiums the most, including young female drivers who are less able to afford these rises.
Fortunately it is still possible for safe women drivers to save money on car insurance, as long as they are the main driver. This is because an insurance scheme operated by FOXY Lady Drivers Club is confident about cutting the cost of car insurance for nine out of ten of its Club members.
Even non members can benefit, based on their motoring history, because any female buying FOXY Lady insurance automatically gets a free Club subscription including a range of money-saving offers, safety-related services and VIP motoring support.
FOXY Founder Steph Savill explains how this works.
“I have always wanted to restore the premium advantage that safe women drivers lost in 2012. We can do this because only women can legitimately be members of FOXY Lady Drivers Club and our services include the likes of free car safety checks, ladies evenings and tyre safety advice which insurers like. This allows us, through our brokers Cornmarket Insurance Services, to offer advantageous insurance rates to qualifying savvy female motorists who join the Club to be better and more confident drivers. It’s good news for men too – as long as the main driver is female, we can add named male drivers to her policy.”