Study: Women may pay more than men for car insurance

With the exception of 16-to-25-year olds, a study found that some women pay more than men for car insurance in New Mexico, according to a consumer advocacy group. According to the data, provided by Consumer Federation of America, the difference in annual average pay rates between a single woman and a single man are small as long as all other factors are equal. But, if a woman has a poor credit history, the rate differences between what that woman pays compared to what a man with good credit history pays can be considerable, according to the data. One example is a 35-year-old single female driver with a perfect driving record but poor credit who lives in zip code 87121, which encompasses an area of Albuquerque’s Westside and west of Albuquerque. This hypothetical female pays, on average, $621.20 more annually for car insurance than a male with better credit credit.