There’s a surprising trend in the car finance industry, and it is this: Men pay higher insurance premiums than women do. This curious fact becomes apparent when you look at statistics and see what the insurance companies are seeing. And while being an older man might lower your premium, it’s still going to be a higher rate than a woman of the same age would pay. Here’s why.

The initial feeling is that some of it is because more men than women drive vehicles, but a closer look at the stats reveal that this isn’t the ONLY factor that causes the higher insurance premiums for men. 25 and under male drivers are hit the hardest by this fact. One insurance company – Cole Car Insurance – charges their male clients 25 and under twice as much as their 25 and under women drivers.

What did the insurance company itself attribute the double rate to? Men file auto insurance claims on a much more frequent basis than women, as determined by the Royal Automobile Association. How many more claims were filed? A whopping 10,000 greater claims were filed by men, making insurance companies realize they might need to up their rates for male drivers. And this can be a very frustrating thing for males who are terrific drivers and don’t want to be punished just because of stats.

The bad news for male drivers continues. 80% of people killed on Australian roads are males, and many of these accidents are caused by speeding. Other traffic infractions are committed by men of all ages: Running stop signs, speeding, failing to wear a seat belt, and driving while intoxicated. Younger male drivers tend to commit more of these infractions than older drivers, thus the declining insurance rates as men grow older.

So what can men do to save?

If you’re already starting at a higher rate, it’s natural to want to lower your insurance premiums. Some younger males can’t even afford the rate as it is. So here’s how to lower your premium and put yourself behind the wheel.

1. Comparison shopping: The Internet makes comparison shopping very easy. You will find the lowest rate every time rather than settling for what’s in your general area. This can make a big difference.

2. Coverage differences: Some insurance coverage will be cheaper than others. If you get the best plan, you’re going to pay more, but if you skimp on some coverage, you’ll come out further ahead. While men with a luxury vehicle or expensive vehicle, in general, will want to have comprehensive coverage, others might be willing to settle for just basic coverage at a minimum level.

3. No fender-bender claims: Sometimes you might have a fender bender, and if you report it to insurance, your rates might go up. There are some rare instances when both drivers agree not to file a claim (it doesn’t mean one can’t go back and file later depending on the circumstances, so it’s risky). If you don’t report a fender bender, it can keep your rates steady.

4. Never drink and drive: This one is obvious! You should not only do this to keep yourself and everyone else on the road safe, but because to do this is a crime, not to mention the toll it can take on your insurance. While it’s nice to think of saving money, it goes without saying that you should never, ever under any circumstances drink and drive or drive under the influence of medication that might cause an accident.