Rhode Island Auto Insurance Coverage

Despite being one of the most densely populated areas in the USA with congested roads, car insurance rates in Rhode Island remain reasonably priced, even lower than the national average for both liability only and full coverage policies. However, the Ocean State has a significant uninsured drivers ratio of 16.5%. Given the higher likelihood of accidents and damages in densely populated areas, it’s advisable for drivers to explore various insurers to find the most affordable options. This enables them to manage costs effectively and consider purchasing additional coverage for better protection.

Pictures from Rhode Island

Vehicle Insurance Requirements in Rhode Island

Virtually every state has minimum liability coverage requirements for vehicle owners in order to protect unsuspecting citizens. Here are the minimum liability requirements for RI;

  • $25,000 for bodily injury per person.
  • $50,000 total for bodily injury per accident.
  • $25,000 for property damage.

If you get caught driving without insurance in RI you may have to pay fines and face license and registration suspensions.

It’s crucial to remember that minimum state-required liability car insurance coverage is just that – minimal. There’s a risk that it might not adequately address all the damages and injuries resulting from a significant accident you caused, and it also doesn’t include damages to your own vehicle. To ensure broader protection, it’s highly recommended to supplement sufficient Liability coverage with Collision and Comprehensive coverage, especially if you have a valuable enough car. Additionally, declining the Uninsured motorist coverage offered is not advisable in this state known with a high ratio of drivers without insurance.

Automobile Insurance Costs in Rhode Island

The average minimum state required liability coverage costs $551 and it is $71 below the US average. The average full coverage car insurance premium is $1,886, which is $128 below the national average. The premium gap between the basic and full coverage is fairly wide here.

Significant deviations from average rates often arise when factors such as a negative driving history, recent claims, low credit score, or limited driving experience due to youth come into play. In addition, neglecting to consider alternative insurance providers can result in higher premiums that persist over time, underscoring the crucial role of thorough shopping.

Most Competitive Car Insurance Companies in RI

The below mentioned carriers provide the most affordable rates in the state, and there are numerous other auto insurers to explore too. The variation in prices even between the most affordable providers is substantial, emphasizing the importance of not purchasing policies without obtaining multiple quotes and meticulously comparing available options.

  1. State Farm
  2. Amica
  3. Travelers
  4. Quincy Mutual

These insurance providers tend to offer competitive rates in most cities across Rhode Island as well. Obtaining quotes from these carriers can be a reliable way to secure a favorable price. Premiums are generally well-distributed around the state average in most cities. However, in Providence, where the population density is even higher, you might expect to pay about 37% more for car insurance compared to the state average.

Rhode Island Vehicle Insurance and Driving Facts

  1. In this state, vehicle insurers are required to offer a minimum Uninsured/Underinsured Motorist Bodily Injury coverage of $25,000 per person and $50,000 per accident. However, policyholders have the option to reject this coverage. Opting for UM/UIM BI coverage can prove beneficial if you’re involved in an accident caused by a driver who lacks insurance or it is insufficient. This coverage can help cover medical expenses and related costs for you and your passengers.
  2. Rhode Island has 82 cars owned per 100 people and is one of the top ten states with the lowest vehicle access as 9% of homes have no cars, according to valuepenguin.com.
  3. RI is one of the top 10 states with the best drivers in the country based on drunk, distracted, drowsy and careless driving statistics.
  4. Seat belt usage in this state is close to the national average but slightly below.
  5. Rhode Islanders travel only 9,961 miles a year, which is the second lowest in the country. This may increase their chances of getting better rates from companies that consider yearly mileage in their car insurance premium calculations.
  6. Rhode Islanders have an average credit score of 723, which is higher than the national average. Credit score plays an important role in auto insurance premium calculations and according to Forbes, people with poor credit pay on average 91% higher premiums in this state.
  7. In Newport, RI, on August 28, 1904, the first jail sentence for speeding in an automobile was handed down. The offender received a five-day jail sentence for driving at a speed of 15 miles per hour.

In the car insurance market, competition is strong, providing options that are both affordable and dependable. People with clean driving records, good credit score and long insurance history can get good rates from most companies. However, young and high risk drivers may not have such a luxury and they may have to shop around even harder to find affordable premiums in this state.