Rhode Island car insurance premiums are higher than the national average and less costly than New York; yet drivers in Rhode Island still manage to find affordable coverage through shopping around. MoneyGeek’s Rhode Island car insurance calculator can help determine how your rates may change depending on specific factors.
Rhode Island car insurance premiums depend on several factors, including your driving history, age, credit score, marital status and vehicle type. Furthermore, policy prices can differ drastically between providers – for an accurate picture of your prospective rate it is wise to visit an agent or compare quotes online.
Car insurance providers base their premiums on the likelihood that drivers will file claims. They use various criteria to assess this risk, including but not limited to:
Location can play an integral role in determining the cost of car insurance policies. Crime rates and traffic levels both have an effect on overall safety in a neighborhood and the number of car accidents that happen, which is why drivers who reside in dense urban areas tend to pay more than drivers living in more peaceful rural settings for coverage.
Age can have an enormous effect on car insurance rates for drivers under 20. This is because younger drivers are more likely to become involved in accidents and file claims; as a result, their premiums often cost more. However, those remaining under their parents’ full coverage policies often see cheaper premiums.
Important factors affecting the price of Rhode Island car insurance policies include type and amount of coverage purchased. Although state minimum liability coverage is mandatory, most drivers opt for additional types such as collision and comprehensive to protect their cars against damage or theft – often essential if financing their vehicles.
As previously discussed, driving record is another key factor that can have an enormous effect on an insurance rate. Even one speeding ticket can increase rates by 15 percent; more serious offenses like DUI could see premiums jump by as much as 67%!
At the heart of it all lies your car and driving habits; together they play a decisive role in car insurance prices. Being an attentive and safe driver will bring down costs; also consider purchasing higher limits than state minimum and adding medical payments coverage for greater assurance on the road. These steps should ensure your policy adequately protects both yourself and other drivers on it.