Although Rhode Island is the smallest state in America, its auto insurance premiums rank among the most expensive. On average, residents pay $749 annually for minimum coverage and $2018 annually to get full coverage. Rhode Island has more than 875,000 vehicles that were registered in the state in 2015. This makes it a busy place to live.
Bankrate’s research can help you find the best vehicle insurance in Rhode Island. Our editorial team has examined the average premiums, available coverage options and third-party rankings of the largest insurance companies in Rhode Island by market share. This research could help you make a decision about which auto insurance company to choose.
Best car insurance companies in Rhode Island
Quadrant Information Services was our partner in our search for the best Rhode Island auto insurance. They provided current premium information from the state’s largest insurance companies. To assign a Bankrate score, we looked at each company’s average premiums and coverage options. Each company is ranked in each category according to its Bankrate Score.
These companies may be a good choice if you’re looking for the best Rhode Island car insurance.
USAA
USAA may offer a quote to you if you are an active or retired military personnel, veteran, or a family member of one. J.D. consistently gives the company high marks. Power is not eligible for official ranking due to its eligibility requirements.
The premium offered by USAA is not the lowest on our list. However, there are many discounts available that can help lower your rate. There are many ways to save money: storage, garaging, insurance, and bundling of policies.
Geico
Geico may be the right company for you if you’re looking for strong digital tools. The mobile application of the company is extremely functional. It allows you to make a claim, get roadside assistance, view ID cards, and pay your bills. It has received over 2.7 million app store reviews and a rating at 4.8 out of 5.
Geico doesn’t offer many optional coverages but it does have one the largest discounts in the business. There are some ways to save money: being a federal worker, having a vehicle with safety features, or being part of an affiliated group.
Travelers
Travelers may be the right policy for you if you’re looking for highly customizable coverage. There are many optional coverages offered by the company, including new car replacement, accident forgiveness, ridesharing coverage, and roadside assistance.
You might also be eligible for discounts from Travelers that could help lower your premium. You can save money by having continuous insurance, covering multiple vehicles, being a safe driver, and owning a house, even if it is not insured with Travelers.
Amica
Amica may be the right choice if you value customer service. Amica was awarded the top spot in 2020 J.D. The 2020 J.D. Power U.S. Auto Claims Satisfaction Survey ranked Amica as the top-rated company. This indicates that Amica’s claim handling is highly valued by customers. Amica has many optional coverages as well as discounts that can help lower your premium. It is our highest-rated list.
Amica’s unique feature is its dividend policy options. You can get up to 20% back every year if you select a dividend auto plan. These policies may be more costly upfront, but they could save you money in the end.
All over the country
Nationwide can provide a quote if you’re looking for auto insurance that is tailored to your driving habits. SmartRide and SmartMiles are two of the company’s telematics discounts. SmartRide monitors your driving habits including hard braking and fast acceleration, and then discounts your premium accordingly.
SmartMiles charges you according to how frequently you drive. This program may be suitable for you if you don’t use your vehicle often. This program is available to all who pay monthly. Bundling your insurance policies, having vehicle safety features, and being accident-free are all ways to save.
Average cost of Rhode Island car insurance
Although Rhode Island is small, its average auto premiums make it a very attractive place to live. Rhode Island’s average car insurance cost is $2,018 annually for full coverage. This is 21% more than the national average of $1.674.
There are many factors that go into determining the average rate of a state, including minimum coverage limits, likelihood of accidents, and severity of accidents. It is possible to get into an accident in Rhode Island, which is small due to its high number of registered cars.
Minimum insurance requirements for Rhode Island
To legally drive a car in Rhode Island, drivers must have minimum car insurance. The following coverages are required for Rhode Island drivers:
- $25,000 bodily injury liability insurance per person
- $50k bodily injury liability coverage per incident
- $25,000 coverage for property damage
In Rhode Island, insurance companies must offer you underinsured coverage. However, it is possible to reject this coverage regardless of your liability limits.
Insurance professionals recommend that you buy higher liability limits if possible. You will be responsible for any excess costs incurred if you cause an accident that exceeds your insurance limits. Higher liability limits offer greater financial protection.
You will not be covered for any damage to your vehicle if you have minimum coverage. You will need full coverage to cover collision and comprehensive damage.
How to get the best car coverage
Car insurance is a personal product. The best company, coverage, and optional features for you will be determined by your individual needs. You might want to consider the following:
- Assess your needs. Everyone has different requirements when it comes auto insurance coverage. Perhaps you have a young driver and need a company that offers discounts for teens. You might have a poor driving record and need to be insured by a company that covers high-risk drivers. Maybe your budget is very tight and you want the best price. Understanding your needs is the first step in finding the right coverage. Next, you can start looking for companies that match your needs.
- State factors are important: Every driver is unique, and so is every state. It is estimated that more than 16% drivers are uninsured in Rhode Island. You might want to purchase enough coverage for uninsured and underinsured motorists. You may also want to consider your specific location when choosing coverages. Is your area well-known for vehicle theft and vandalism? Do you have a lot of car accidents in your area? Consider purchasing full coverage.
Talking to a licensed agent can help you find the right coverage for your vehicle. A licensed agent can help you determine the right coverage for you based on your needs, wants and preferences.
Discounts on car insurance in Rhode Island
There are many ways to save even though auto insurance in Rhode Island is expensive. Many companies offer discounts that can lower your premium. Each company offers its own discount, but these are the most common:
- Multi-policy discounts: You may be eligible for a discount if you purchase more than one type from the same company. One of the best discounts that providers offer is when you insure your home and auto with the same company.
- Discounts for vehicle safety: You might be eligible for a discount if your vehicle has safety features like side curtain airbags, anti-lock brakes, and daytime running lamps.
- Telematics discounts – These programs track your driving habits via a smartphone app or plug in device, and offer a customized discount based upon your behavior.
- You could qualify for discounts if you sign-up for paperless bills or documents.
Every company offers different discounts, just as every company has different coverages. While you can usually see the discounts offered by a company online, it is worth speaking with a representative to find out what savings you are eligible for.
Questions frequently asked
Which is the best Rhode Island car insurance?
Your rating and your personal circumstances will determine which company is the best for you. For example, you might prefer a company with strong digital tools while another person may want a company that provides a specific coverage option. Rates can vary depending on the company and driver. Your credit score, age, zip code, and ZIP code can all have an impact on your premium. The same goes for the type of vehicle and coverage you select. A variety of quotes can help you determine what is important to you and find the right policy for you.
Is there a requirement for uninsured or underinsured motorist coverage in Rhode Island
In Rhode Island, coverage for uninsured or underinsured motorists is not required. You can refuse coverage in writing, but the coverage must be provided. If you have liability limits that exceed the state minimum, it is common to believe you must have uninsured or underinsured motorist coverage. These coverages can still be purchased to protect your financial interests in the event of an accident involving an uninsured/underinsured motorist.
What happens if I don’t buy car insurance?
Car insurance is expensive but it is required to be purchased in Rhode Island. You could face jail time, suspension of your license, and fines if you are caught driving in Rhode Island without insurance. You will be responsible for any damage caused by an accident that you do not have insurance. This could lead to financial ruin.