Motor insurer will continue to market women despite gender ruling
Sheilas' Wheels claims that it will be the “biggest beneficiary” of today’s European Court of Justice’s ban on gender differentiation in insurance.
The ruling is expected by industry bodies to result in an average 25% rise in motor insurance premiums for women and up to 50% for younger women.
Sheilas' Wheels says it will be able to buck the trend. “The fact that we have so many women insured with us already will make it easier for us to absorb this,” said a spokesman.
“And we expect to attract more women – if everyone else’s prices rise we’ll be very competitive.”
The average 18 year old male claim cost is £4,400 compared to the average 18 year old female claims cost of £2,700, according to Biba. With unisex premiums required by law from December 2012 the more women drivers on an insurance company’s books the lower the premiums they can charge.
Sheilas' Wheels is banking on its distinctively feminine brand. “Despite this ruling, we will continue to market to women and to celebrate our pink brand because it does not prevent female-focused marketing,” said a spokesman for Sheilas' Wheels.
“Sheilas' Wheels has always insured men but most males simply aren’t attracted to our brand and we don’t see this changing because of price.”