Tuesday 1st of March 2011
Young women owing a considerable amount of cash who are considering posing IVA questions to help improve their financial position may be impacted by a new ruling.
The European Court of Justice (ECJ) has stated motor insurers can no longer charge different premiums based on gender.
It means female drivers are likely to have to shell out considerably more in order to obtain car insurance and could be a telling blow for those already deep in the red.
The ECJ said: "Taking the gender of the insured individual into account as a risk factor in insurance contracts constitutes discrimination."
These new requirements for unisex premiums and benefits are to come into effect on December 21st 2012 - a delay aimed at giving national governments and the European insurance industry time to prepare for the change.
Recent research carried out by moneysupermarket.com found 67 per cent of motorists in the UK have altered their driving habits as a direct result of increased road costs.
By Mark Waterman
- Debt consolidation loans falling, figures show
- Britons 'changing attitudes' towards debt management
- Homeowners 'more concerned with debt management'
- Low interest rate 'contributing to debt management efforts'
- Debt management growing in importance, survey finds
- Paying off debt 'more important than saving'
