Auto insurance is an essential component of your financial management. However, it comes at a cost. The premium cost depends on several factors. Once you know them, you can go through your policy and find ways to reduce your rates.

1. Marital Status

Many major insurance companies believe that married people get into fewer accidents. For this reason, you will notice a difference in their auto insurance costs as compared to singles.

2. Your City and Neighborhood

Densely populated areas and high-crime neighborhoods increase the risk of collisions and theft. Moreover, the cost of repairs is more expensive in some cities. If you live in these locations, you can expect higher premiums.

3. Credit Score

Most carriers use credit scores as a rating factor while evaluating your insurance applications. Lower scores could mean higher premiums, so it's best to work on your credit score before buying a new car. Check your report to see if there are any errors that need to be rectified.

4. Safety Rating

Find out the safety rating of a car when are buying one. A vehicle with better reviews will not only be safer but can also reduce your insurance costs.

5. Age of the Car

The premium may be high for an old car as their repairs cost more. Moreover, old vehicles lack a lot of new safety features, thereby increasing their chances of getting totaled in an accident. These factors can significantly affect your car insurance premium. Are you looking for the perfect coverage for your car? Contact the experts at Weeks & Associates Insurance Services in Thousand Oaks, California. We look forward to answering all your insurance questions.