Recent rulings by the European Union mean that female drivers and the elderly are likely to see their insurance premiums soar. The ruling, in which the European Court of Justice decided that insurance could not use gender or life expentancy in its risk assessments, has been widely criticised.
The ruling could spell the end of companies like Sheila's Wheel and Saga, who offer cheaper premiums to women and older drivers. The ruling may also lead to a drop in insurance for male drivers.
However one positive is that the finding means women’s pension schemes will be placed on an equal footing with men’s and will therefore be worth more, in most cases.
The verdict will come into force on December 21 2012 and has come under criticism from road safety groups.