Young drivers are generally not sought by insurance companies – finding cheap car insurance for young drivers is hard.

The insurance companies would argue that their reluctance to provide young car insurance is based on fact:  young and inexperienced drivers have, statistically, more accidents than older, more experienced, drivers – consequently losses within an insurers portfolio are skewed towards the young.

Providers of cover deal with young insurers by charging them high premiums – in many cases so high that the cost of cover for young insurers can range upwards of 50% of the value of their car.

Here are 5 tips for young insurers to minimise their premium:

1. Fight your inner hoon — choose a small car with a small engine and fight the urge to modify it: let your natural character shine through, accept that your car says nothing about your personality – blokes: recognise that a supercharger, turbo or spinners tell the lasses more about the size of your ^&#$@ than you really want to let on. Body-kit is only for those that have something to hide and ditch the idea of a massive stereo with quadraphonic sub-woovers and tweeters
2. Buy local – one of the biggest costs to insurers when repairing cars are parts, and having to import that exotic rear Macpherson strut from Germany costs money
3. Drive like your dad (I want to write mum, but mine drove like a mad-lady and, anyway, it’s sexist) – the quickest way to drop your comprehensive insurance premium is to drive safely, defensively,  obey the rules, avoid being pulled up by the police and make no claims – 5 years of no claims can see you reduce your premiums by 60% with most insurers
4. Buy a new car – as a tip goes, this has obvious limitations, but it makes sense:  insurance premiums, as a percentage of the value of the car, are significantly lower for new cars — this is based on the unsubstantiated assumption that young insurers in new cars are a better risk…….however, even with a new car don’t let that hoon impulse run wild (see 1 above)
5. Do the maths – if your car is old, show insurers the middle finger and just purchase CTP (in NSW & QLD), the premium insurers will charge young drivers equates to a large percentage of the value of your car and, more often than not, insurers will not repair your old clunker and declare it a total loss — however, and here’s the double whammy, they’ll only give you what they think your car was worth at the time of your bingle NOT a new car….you’re probably better off saving the premium and paying for the repair yourself!

Clearly 5 tips for finding cheap car insurance for young people are, at first sight, not the necessary ingredients for an exciting life! Let’s be fair, however;  given that none of us want to overpay for car insurance just apply them, do your homework (or let Just-Ezi.com do it for you),  shop around, and then blow the savings on a great evening out.