Young men still blighted by high car insurance costs

It has been widely accepted for quite some time that young men will invariably pay more for car insurance policies than other members of society.

Although rules have been passed in Europe that ban insurers from taking factors such as gender into account when calculating premiums, there are still plenty of variables that are considered.

According to leaders at US-based insurer Insure4USA.com, males under the age of 30 are statistically more likely to be involved in an accident than a woman of the same age.

However, there are ways to drive down the cost of your insurance policy, regardless of how old you are.

Always keep your receipts when servicing your vehicle, as this is proof that your car is in good working order and is less likely to develop problems. It is also vital to maintain a clean driving record, while the addition of certain in-car safety devices can also help reduce premiums.

This advice has never been more appropriate, as VFACTS figures recently suggested that more and more Aussies are buying cars, with nearly 77,000 being sold in January alone.

Have a question about car insurance? Ask the money gurus at Mozo Answers.