Consumers are offsetting rising gas prices and other vehicle operating costs by capitalizing on lower auto insurance rates, according to major insurers.

Auto policy costs and regulations vary significantly from state to state, but there are a number of areas consumers can monitor and adjust to optimize price and quality. Answer Financial (www.answerfinancial.com) has 10 tips for keeping your rates low:

Check the credit rating. In all states except California and Georgia, a person’s credit rating is a key factor affecting auto insurance rates. Insurers will interpret good credit as less risky. Therefore, it is important for consumers to request copies of their credit report from all major credit bureaus to ensure accuracy and correct any inaccurate derogatory items such as late or missed payments, maxed out lines of credit, bankruptcy, foreclosure, etc

Check the motor vehicle report. Like credit reports, state driving records may contain inaccurate personal driving record data, which is heavily taken into account when issuing individual and family auto rates. Additionally, fines, traffic school credit, and failures from accidents are sometimes not accurately reflected in state data, costing consumers hundreds or even thousands of dollars. Drivers should report errors to both their state department of motor vehicles and their insurance company.

Double check accident reports. Local law enforcement and insurance accident reports occasionally include errors that will result in a higher rate. Accident reports are separate from motor vehicle records. Accident reports affect insurance decisions and rates cumulatively, especially if the driver has tickets or accidents on the road.

Never let coverage lapse and review deductibles. Keeping coverage without expiration makes a significant difference in rates. On the other hand, while deductibles initially save drivers in the event of a quick claim, they cost consumers more in the long run due to higher premiums. Drivers almost always save on premiums with higher deductibles of $500 or $1,000.

Look for Package Rates. In addition to multi-vehicle discounts, consumers often save substantially by bundling all of their insurance policies, including auto, home, and personal liability, under one company.

Don’t miss out on discounts for good students and mature drivers. Most consumers know that insurers reward safe drivers, but it’s important to make sure your policy offers you a good driver’s discount. Most insurers lower rates for mature drivers (age 55 and older) and for students who have a 3.0 or higher grade point average. Some companies give more credit for these points than others, so shop around.

Take a road safety course. Many insurers will reduce rates for drivers who take an approved driver safety course. Make sure you have signed up for a course recognized by your carrier, which will not only lower your rates, but also save you fines and reduce the risk of bodily injury down the road.

Don’t forget the carpool credit. Many car carriers lower premiums if you carpool to the office, especially if you drive more than 10 miles round trip. Plus, you’ll save big on rising prices at the pump and give Mother Nature a helping hand.

Check rates before you buy a new car. Insurance rates vary considerably from car to car. Expensive vehicles can often add $50-$100 per month in premiums. Vehicle type, engine size (you’ll pay for that turbo), parts costs, and safety tests all factor into insurance premiums. Sports cars and SUVs are generally more expensive to insure. Buyers often don’t realize big differences in rates until they drive off the lot.

Take credit for the security/protection features. Drivers should make sure they receive lower rates for safety features like airbags and anti-lock brakes. Devices that deter theft, such as alarm systems or devices that disable or track vehicles (such as LoJack), may also qualify for discounts. Some companies even waive deductibles if the car was damaged when it was stolen, but it is recovered using a tracking device.

For more information, go to http://www.answerfinancial.com.