It is one of the most densely populated areas in the USA. We have another chicken and egg situation here. Rhode Island has one of the highest auto insurance and Uninsured Drivers (18%) rates in the country. They would affect the premiums for the rest of the motorists who buy coverage. Also, being a densely populated area would increase chances of accidents and other damages and consequently costs. So, it is a tough one for the authorities to try and bring down the numbers.
Vehicle Insurance Costs in Rhode Island
Having a look at the median figures would provide clues about the fairness of own premiums. The Plantation State has one of the highest rates in the country with average expenditure of $1,066 (US average is $841). This is the median figure. If you want to know how much full coverage is likely to cost you can figure out by looking at the state average at $1608. The gap isn’t wide enough and this suggests that many motorists choose full policies that bring the costs down.
It is probably no surprise to see that some policyholders will pay a lot more than the averages. And this is usually the case when people don’t bother to figure out how to get auto insurance discounts. A quote from the most expensive company is 3 times higher than the one from the cheapest in this state. You can save tons of money by simply shopping around for the best quotes, especially if you are currently paying much more than most people.
You should only be paying a lot more than the average rates when you have a terrible driving record, recent claims, bad credit score or you are a youngster with no experience. Even then there are many ways of saving money. You may be very experienced in this but there is no harm in refreshing your memory by reading again on ways of reducing premiums.
Minimum Liability Requirements for in RI
Every state has minimum requirements for vehicle owners in order to protect unsuspecting citizens. Here are the requirements for Rhode Island;
- $25,000 for bodily injury or death per person.
- $50,000 total for bodily injury or death per accident.
- $25,000 for property damage.
For further information and updates you could visit the commissioner’s website. If you get caught without a policy you will have to pay fines and face license suspensions. So, you would be taking a lot of risks when driving a car without insurance; not only the fines but also possible losses you may suffer and legal actions you may face from third parties you caused injuries and damages.
It is advisable that you talk to an independent broker to find out the best course of action. Just keep in mind that minimum coverage is exactly what it says. There is a chance it may not cover you for all the liabilities in a sizable accident and it doesn’t include your own losses. It is highly advisable to get at least Collision, Comprehensive and Uninsured Motorists additional policy components on top of Liability when there are too many people driving around without coverage.
Generally, it will not be easy to get low rates in densely populated areas. If you want cheap automobile insurance in Rhode Island you should follow a few tips mentioned in many posts in this website. If you don’t pay attention you may not get all the discounts you deserve. Furthermore, you may be penalized with surcharges that you are not aware of.
Motorists should actively check prices and learn how to get discounts on car insurance in order to avoid high premiums. There is no easy cut and it is naive to expect that carriers offer the best deals to existing customers out of the goodness of their hearts. You need to be aware of these facts and do your bit to save some money. When you are living in highly congested city locations and high cost zip codes you need to work a little harder to get and keep good rates.
Most Economical Auto Insurance Companies in RI
You can see the usual suspects back in business in the Ocean State where you have two of the 10 biggest in the US also within the cheapest.
- State Farm, $584
- GEICO, $950
- Quincy Mutual, $1,202
These 3 carriers are usually the cheapest in most cities of Rhode Island too. So, you can get quotes from them knowing they will give you a good price. Most cities are nicely spread around the average premium expenditure. However, you may have to pay about 20% more in places like Providence and Cranston where population is even denser.
The competition in the market is healthy as there is no shortage of good and cheap policies. People make choices based on many other reasons than the price. For example you may only go for the leading vehicle insurance companies. You will have no problem finding them and still getting good rates from them, especially if you have a good record.
Naturally, there is a serious price difference between quotes for good drivers and high risk ones. Also, you get better rates when you are experienced in comparison with a novice. Your age is another significant factor in calculations. Younger drivers usually need to wait a bit before they can get discounts.
Feel free to use our resources to learn more about the facts or get quotes. They come directly from the providers in your zip code. We are not here to isolate you from the source and take a big cut out of it. There is no shortage of comparison websites online anyway. Quite a few of them are good enough to carry out the task of checking your options. So, there is hardly any excuse to skip this process and auto-renew.