The ECJ’s historic ban on gender discrimination in the insurance industry has in the pipelines a mammoth undertaking for Britain’s insurance industry: to turn insurance practice on its head.
Brought by the Belgium Consumers Association, the case challenges the EU Gender Directive’s Article 5, which allows insurers to charge men and women differently based on their sex if it is a “determining factor” in risk assessment, and where it is also based on “relevant and accurate actuarial and statistical data”.
This new legislation means that the cost of car insurance policies will significantly increase for women and decrease for men – a hotly debated topic in the media at the moment… But what does it mean for the cost of motorhome insurance for male and femalemotorhome owners across the UK?
Quite simply, not a lot. With motor home insurance, small discounts are given for both “female insured only” and “male insured only”, and the proportion of “female insured only” policyholders is about five per cent of all policyholders, so although the ECJ’s ruling is set to drastically increase the cost of premiums for female car owners, motorhome owners, whether male or female, aren’t facing any real shake up.
These small discounts (we’re talking perhaps £15 or so) will be removed, and it is most likely that they will be replaced by an alternative discount for “single named driver” and another for “insured and spouse or civil partner”, because these, too, are low-risk indicators.
Philip Holden, Managing Director of Caravanwise, a leading motorhome insurance intermediary has said:
“We honestly don’t expect it to make much difference for our clients. The age of your vehicle, engine size, your own age and driving experience coupled with the postcode where you live have a far greater effect on the price you pay than gender.”
He also reassured motorhome owners:
“We will continue to re-quote every client through our rating engine and offer a renewal premium that is accurate in the circumstances that apply at that time.”
