How Does a Car Accident Affect the Cost of Auto Insurance?

Car accidents are unfortunately an unavoidable part of driving life, but their severity and frequency, combined with factors like speeding tickets or credit score can determine how much car insurance a driver must pay. With some smart moves, drivers in Rhode Island can reduce the premium costs even after being involved in an at-fault accident or receiving multiple traffic violations. At least some steps must be taken when shopping around and comparing quotes; each insurer has their own rating structure that caters specifically to an individual’s needs. Below is an example of average Rhode Island rates by company for drivers with at-fault accidents and multiple traffic infractions on their record, taking into account vehicle type and coverage level chosen.

Rating factors that impact auto insurance costs differ by state, but among the most influential are age, gender, marital status and credit history. Insurance providers also take into account things such as what car is driven, its annual mileage and coverage levels when setting premiums.

Married drivers typically pay lower premiums because insurers view them as more responsible and therefore lower risk to insure. Married individuals also tend to file fewer claims, further lowering their rate.

Age can play a big part in determining Rhode Island car insurance costs, as younger drivers are more likely to cause accidents than their elder counterparts. Thankfully, as drivers age their rates tend to decrease and eventually peak around mid-30s before starting back up again around age 70.

Credit histories play a direct impact on car insurance costs, with higher scores often receiving cheaper premiums and lower scores incurring higher premiums. Although raising one’s score takes time and work, there are ways that can quickly enhance it; such as consistently paying bills on time and disputing any mistakes on one’s report.

Rhode Island car insurance premiums depend heavily on the make and model of one’s car; certain models are more costly to repair or more prone to being damaged than others. A lower deductible can have an even more dramatic effect; typically speaking, lower premiums come from choosing lower deductibles.

Rhode Island drivers looking for affordable car insurance coverage have three options. State minimum liability covers other people’s injuries and property damage should you cause an accident; for additional protection it is wise to purchase collision and comprehensive policies as well. In order to help drivers compare minimum and full coverage costs more easily, we analyzed Rhode Island average car insurance rates using rating factor analysis for a 45-year-old married man with no traffic violations and excellent credit.