Discounted Premiums
A discount in your car insurance premiums is a reduction in the monthly amount you need to pay; if you can get a discounted premium it can save you a nice amount of money in the long run. An insurance company will be prepared to grant you a discount on your premium if you fall in a lower risk category and therefore their degree of risk exposure is reduced. The lower risk may be due to some personal characteristic or it may have to do with your car.
Women generally qualify for discounted premiums as they have been proven statistically to pose a lower risk to the insurance companies. So, it is not a sexist decision but purely based on proven risk. Older people, usually over the age of 55 tend to drive very seldom and at low speed so they also pose a smaller risk and therefore qualify for discounted premiums.
When you fit insurance approved security devices to your car this will also lead to a discount in your premium. Keeping your car in a lock garage overnight will qualify you for a further discount. A no-claim bonus is actually not a bonus paid out in cash but also a system where you qualify for discounted premiums based on the number of claim-free years you have had. (See No-claim bonus in this glossary for more details.)