The court decided that insurers will be committing an illegal act (from 2013) if they do use sex as a risk factor. In future insurers will not be allowed to use sex to calculate premiums. So the unique selling point for Shelia’s Wheels will disappear overnight.
I suppose that feminists are celebrating the world over that they are now seen as equal with men. They will be happy that their pensions will rise as the fact that they tend to live longer will have to be ignored. However come Jan 1st, 2013, I suspect that they will be demanding that their premiums be lowered back down to 2012 levels as they realise that their premiums will have been raised to the same level as men’s. Well you can’t have your cake and eat it at the same time.
Some commentators are saying that this is unlikely to happen and that what will actually occur is that men’s premiums will be lowered a bit whilst women’s raised a bit and they meet in the middle. But this is insurance companies you are talking about. Insurance companies whose whole purpose is to avoid paying out on any claim. Insurance companies who go to the ends of the earth to deny a claim using torturous machinations such as claiming that you had a piece of grit in your eye when you claimed to be in good health.
The BBC has been reporting on the situation using the case of a pair of twins, brother and sister. The boy’s premium is over £3000, whilst the girl’s is half that. The two were claiming that they were both very good drivers but the boy was being penalised just because he was a boy and it just wasn’t fair [fx: stamps feet]. But they miss the point that insurers don’t know your personal details until you have proven via your claim record to be a good insurance risk. That’s why you can get discounts of up to 70% by being a very good driver and not crashing. Until then they will lump you with all others in your risk category.
So what’s next on the progressive road to complete and utter equality. Ageism to be ignored as well? So all boy racers will get cheaper premiums whilst 60yr old Sunday drivers get their premiums raised? Will insurance companies have to go through weird risk factors to get the same rates that they currently use for boy racers, such as using blue fluorescent lights, huge speakers, spoilers, go faster stripes, and blacked out windows. Will pink fluffy dice hanging from the rear view mirror lead to lower premiums. Will insurance companies find out that gays are safer drivers.
I’m sure you can think of better loopholes.