A man in Alberta, Canada wanted to buy a new car. He wanted a Chevrolet Cruze with all of the options. However, he couldn’t believe how high his insurance bill would go with his new car purchase. In his early 20s, the man also had an accident and a ticket or two on his driving record that helped set a high insurance premium quote to the tune of $4,500 a year.
He then asked his insurance company what the cost would be if he were a woman. He was told the cost would be $3,400. That’s when he decided to become a woman to save almost $1,100 a year. However, he didn’t have hormone treatments or surgery. He lied to the Canadian government and became a woman only on paper. According to the Insurance Bureau of Canada or IBC, men under 25 are generally at higher risk of collision than women of the same age, which means their premiums are often higher. READ MORE
