How Much Does Car Insurance Cost for a Company Car in Rhode Island?

How Much Does Car Insurance Cost for a Company Car in Rhode Island?

Deciphering which companies have the cheapest auto insurance rates for a company car calls for a tad more effort in order to find the lowest price.

Every auto insurer uses different criteria to determine rates, so to begin we’ll rank the auto insurance companies that tend to have lower prices in Rhode Island.

Compare Cheap Insurance Quotes in Rhode Island

Click to Compare Rates Now

Cheapest Rhode Island car insurance ranked by price
Rank Company Cost Per Year
1 USAA $705
2 State Farm $1,106
3 Travelers $1,259
4 Amica $1,467
5 Progressive $1,529
6 Quincy Mutual $1,579
7 Peerless $1,785
8 National Grange Mutual $2,052
9 GEICO $2,517
10 MetLife $2,554
11 Nationwide $2,734
12 Encompass $2,899
13 Liberty Mutual $2,953
14 California Casualty $2,967
15 Allstate $3,120
Quote Your Rates Go

USAA normally has some of the lowest car insurance rates in Rhode Island at around $705 annually. State Farm, Travelers, Amica, and Progressive also qualify as some of the most economical Rhode Island insurance companies.

As depicted above, if you currently buy coverage from State Farm and switched to USAA, you could see annual savings of in the vicinity of $401. Rhode Island drivers with Travelers could save as much as $554 a year, and Amica insureds might reduce prices by as much as $762 a year.

Understand that those premium estimates are averages across all drivers and vehicles in Rhode Island and and are not figured with a price decrease for a company car. So the car insurance company that can offer you the lowest price may not even be featured in the company chart above. That points out the importance of why you need to quote rates from as many companies as possible using your own driver and vehicle profiles.

For your employer’s vehicle, one of the more important considerations that is used by car insurance companies to determine a rate quote is where you choose to live in Rhode Island. Areas with a lot of weather claims or more people like Providence, Pawtucket, and Central Falls tend to have more expensive auto insurance rates, whereas areas that tend to be more rural generally have lower rates.

The next table rates the most expensive areas in Rhode Island for a company car to purchase a policy in.

How much is auto insurance in Rhode Island?
Rank City Annual Premium
1 Providence $2,231
2 Cranston $2,095
3 Pawtucket $1,951
4 East Providence $1,851
5 Central Falls $1,837
6 Greenville $1,751
7 Warwick $1,732
8 Valley Falls $1,690
9 Harmony $1,657
10 Chepachet $1,637
11 Woonsocket $1,619
12 Cumberland Hill $1,611
13 Pascoag $1,591
14 Harrisville $1,578
15 Kingston $1,501
16 Westerly $1,478
17 Wakefield-Peacedale $1,469
18 Hope Valley $1,462
19 Bradford $1,461
20 Narragansett Pier $1,460
21 Ashaway $1,450
22 Tiverton $1,373
23 Newport East $1,362
24 Melville $1,348
25 Newport $1,329
Find Cheaper Insurance Go

Rates are comparative as the specific zip code location can raise or lower coverage rates greatly.

Impact of speeding/accidents on Rhode Island auto insurance rates

One of the best ways to snag cheap auto insurance for a company car in Rhode Island is to be a careful driver and avoid accidents and keep your driving record clean. The chart below demonstrates how citations and at-fault collisions increase car insurance costs for each different age group. The data assumes a single male driver, full coverage, $250 deductibles, and no discounts are taken into consideration.

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 Two Accidents’],[‘Age 20’, 4899,5257,8403],[‘Age 30’, 2515,2877,6019],[‘Age 40’, 2493,2853,6003],[‘Age 50’, 2265,2631,5775],[‘Age 60’, 2197,2559,5703],[‘Age 70’, 2691,3051,6199]]);var options = {title: ‘Effect of Tickets and Accidents on Rhode Island Auto Insurance Rates’,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 Auto Insurance Cost for Average Vehicle 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 chart above, the average cost of an auto insurance policy per year with no violations or accidents is $2,843. Factor in one speeding ticket and the average cost increases to $3,205, an increase of $361 each year. Then include two accidents along with the one speeding ticket and the 12-month cost of auto insurance for a company car goes up to an average of $6,350. That’s an increase of $3,507, or $292 per month, just for not driving attentively!