Best Cheap Insurance for a Honda CR-V in Rhode Island

When the topic is car insurance, the word cheap shouldn’t be used anywhere to describe car insurance rates. Be that as it may, cheap car insurance for a Honda CR-V can be difficult to find. But don’t despair, because there may be ways you can still get insurance that is easier on your budget.

Your odds of finding cheaper coverage for a Honda CR-V in Rhode Island depends upon factors such as the age of the CR-V, your residence address, and any past driving violations you may have had. Rhode Island drivers on average pay approximately $1,030 annually to buy Honda CR-V insurance, but that amount is a projection that uses a 40-year-old single male driver with full comprehensive and collision coverage and $500 deductibles.

The issue with using an average estimated rate is the likelihood you are not 40 and possibly not even male, maybe you are married instead of single, or maybe you live in a different area as the quoted rates. Even a very minor difference in rating factors can make a big difference in how much coverage for a Honda CR-V costs.

Everyone has different rating factors, so the only way to find the cheapest rates for your Honda is to take your time and compare rates from as many companies as possible. It only takes a couple of minutes and you will get price quotes from the cheapest companies that sell coverage in Rhode Island.

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Vehicle trim level will most likely have an effect on the annual cost of coverage, so the price you will pay to insure a CR-V LX 2WD trim level will be $32 less than the insurance cost for the high end CR-V EX-L 4WD trim level, as demonstrated by the prices below.

Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Rhode Island minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Prices do not factor in vehicle location which can influence rates considerably.

Picking the highest-rated auto insurance provider can be rather challenging considering how many companies there are to choose from in Rhode Island. The information displayed below may help you pick which insurers you want to consider when shopping around.

These ratings are for the largest companies in the United States, so companies that only write business in Rhode Island or surrounding areas will not be included in this list. To view rates and find cheaper insurance for a Honda CR-V, click here.

Top 10 Major Auto Insurers Overall in Rhode Island

1. The General
2. The Hartford
3. Progressive
4. Travelers
5. State Farm
6. Farmers Insurance
7. Safeco Insurance
8. USAA
9. GEICO
10. 21st Century

Top Companies for Honda CR-V Insurance in Rhode Island

Full coverage or liability only

Finding the best cheap insurance for a Honda CR-V in Rhode Island should be important to the majority of people, and an easy way to reduce the cost of insurance is to not pay for full coverage. The chart below visualizes the comparison of car insurance costs with full coverage compared to only the Rhode Island minimum liability coverage. The rates are based on no driving violations, no at-fault accidents, $100 deductibles, single status, and no discounts are applied to the premium.

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Averaged for all ages 20 through 70, full coverage costs $2,376 per year more than just buying liability insurance. That may make you wonder when is it a good idea to stop buying full coverage. There is no clear-cut formula of when to eliminate comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.

There are some scenarios where removing full coverage is not a good plan. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.

Driving violations and accidents

The easiest method to receive the best car insurance rates for a CR-V is to drive carefully and avoid traffic citations and accidents. The information below highlights how speeding tickets and accidents raise insurance rates for different age groups. The price estimates are based on a single male driver, full physical damage coverage, $100 deductibles, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and One Accident’],[‘Age 20’, 3979,4271,5097],[‘Age 30’, 2067,2361,3183],[‘Age 40’, 2049,2339,3165],[‘Age 50’, 1859,2153,2977],[‘Age 60’, 1797,2087,2915],[‘Age 70’, 2177,2471,3297]]);var options = {title: ‘Effect of Violations and Accidents on Rhode Island Honda CR-V Insurance’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Insurance Cost for a Honda CR-V in Rhode Island’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

In the previous example, the average cost of car insurance per year with no accidents or violations is $2,321. Factor in one speeding ticket and the average cost jumps to $2,614, an increase of $292 each year. Now throw in one accident along with the one speeding ticket and the yearly cost of car insurance for a Honda CR-V goes up to an average of $3,439. That’s an increase of $1,118, or $93 per month, just for not driving safely!

Progressive, State Farm, Allstate, or Geico: Who is best?

If you want the best car insurance, some of the first companies to look at are Progressive, State Farm, Allstate, and Geico. They all have the same basic coverages, but each one has a little bit different set of discounts and options that buyers can select from. The following table shows pricing and service ratings, plus some optional coverages that are available for customers.