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All drivers in Rhode Island are required to have auto insurance coverage, but just because you need it, doesn’t mean you need to pay a lot for it. With some careful searching, you can find cheap car insurance in Rhode Island for your vehicle. Below, we’ll explain how auto insurance companies determine individual rates and how to go about finding cheap car insurance for yourself.
What Impacts Car Insurance Costs in Rhode Island?
There isn’t a single answer when it comes to cheap car insurance in Rhode Island, and that’s because each driver will receive his or her own auto insurance quote from the insurance provider. Auto insurance providers base their quotes on a number of factors and each provider weighs these factors differently. Below are some of the most common factors that auto insurance companies look at when determining the cost of auto insurance for a specific driver:
Age of the Driver
First, auto insurance companies look at the age of the driver. This is because drivers in their teens and early 20s are statistically more likely to get into an accident than more experienced drivers. Auto insurance companies will therefore charge a higher amount to insure drivers who are under the age of 25. If you’re in this age demographic, you may have to pay more for your insurance until you get older. Luckily, your age isn’t the only factor that auto insurance companies consider.
Other Personal Details
Besides your age, auto insurance companies may look at a few other personal details. For starters, they may look at your gender, as females are statistically less likely to get into an accident.
Another factor they may look at is your credit score. If you have a good credit score, this may help you get a lower insurance rate, as it demonstrates you’ll be able to pay your bill each month. Finally, the auto insurance company may look at how often you drive your vehicle. Those who drive a lot are more likely to get into an accident, so they may face higher premiums.
Type of Car
A big factor in determining your auto insurance costs is the type of car you drive. The type of car you have impacts your costs in a number of ways. For example, a newer car may give you a lower premium if it has some of the latest safety technology onboard, like lane-keeping assist or automatic braking.
On the other hand, newer cars are also worth more and therefore need more insurance protection in the event of an accident. Between the age of your vehicle, the number of miles on it, its standard safety features, and its repair history, the auto insurance company will determine an insurance rate that reflects all these combined factors.
Driving History
Auto insurance companies also look at your personal driving history when determining what to charge you. Drivers with a longer history of safe driving will receive lower insurance quotes. Alternatively, drivers with a history of accidents or traffic infractions will receive a higher insurance rate. This is because insurance companies assume past behavior is more likely to continue.
If you have a history of getting into accidents, the insurance provider assumes you’re more likely to get into accidents again compared to the average driver. They then raise your rates to compensate for this additional risk. If you want the lowest rate possible, focus on having a clean driving record for a sustained period of time.
Coverage Amount
When you sign up for auto insurance, you often get to pick how much coverage you want. You can choose to give yourself more financial protection in the event of an accident or injury. While this additional protection is a good thing if you ever need to use it, it also comes with an increased monthly cost.
There may be some regulations in place that determine the minimum level of coverage you need to have. For example, if you’re leasing a vehicle, the leasing company may require you have a certain amount of liability insurance. To get the cheapest auto insurance, you’ll want to get the minimum level of financial protection that you’re allowed.
Where You Live
Where you live can also impact your auto insurance rate, even compared to other drivers in Rhode Island. For example, if you’re living in a more urban area, auto insurance companies often see this as more of a risk. While there’s not much you can do to adjust your auto insurance rate based on where you live, it’s still good to know how your location may be impacting your final insurance quote.
Race and Religion
It’s illegal for auto insurance companies to consider your race or religion when providing auto insurance. In fact, it’s unlikely that your auto insurance provider will even ask for this information. While auto insurance companies may use personal details about you to determine your rates, you can rest assured that both your race and religion shouldn’t be among them.
How To Find Cheap Car Insurance in Rhode Island
The best way to find cheap car insurance in Rhode Island is by requesting a quote from several providers. Most auto insurance companies will provide you with a quote for free right through their website. All you need to do is enter your personal information and they will provide you with a custom quote. You can then gather quotes from some of the leading providers and compare them against one another. Some of the more affordable options in Rhode Island tend to be:
- GEICO
- Amica
- Travelers
Get Started With the Right Coverage Today
It’s important for all Rhode Island drivers to have the right auto insurance coverage. If you’re looking for auto insurance for the first time or if you think there might be a more affordable option out there for you, it’s a good idea to take your time to explore different insurance providers. Since each provider has its own evaluation system, you may be able to get a significantly lower rate from one provider compared to another.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.
