An insurance expert has joined Tom Elliott to discuss why insurance costs more for men than it does for women.

Health Insurance Expert at Finder, Tim Bennett, states men may pay up to 15 per cent more for car and life insurance than women according to statistics.

“Younger men and older men for that matter, are potentially more likely to get into accidents,” Mr Bennett told Tom Elliott.

“Protected classes such as sex, gender, race and disability status you can’t discriminate against, but in this case there seems to be a bit of a loophole.”

Press PLAY to hear why men are paying more than women for insurance 

Picture: Getty iStock