How Much is Insurance for Ride Shares in Rhode Island?

It’s impossible to miss the captivating ads from insurers like Allstate and The General that make claims of the cheapest price, so drivers should just pick the company with the cutest commercial, right?

It’s just not that easy, however, as there are a whole bunch of unknowns such as where you live, if you own your home, how old you are, and the liability claim history for your vehicle model, that all help calculate your car insurance rates. The content below covers the things that cause high insurance rates and should give you a good start in finding the cheapest car insurance in Rhode Island.

The type of vehicle that is being insured is a large factor when shopping for cheap insurance in Rhode Island. Vehicles with lower acceleration and performance, a plethora of safety features, or a low likelihood of having liability claims will cost much less to insure than adrenaline junky models.

The next list shows auto insurance premiums for a number of the cheaper vehicles to insure.

Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Rhode Island minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Information does not factor in specific zip code location which can affect price quotes noticeably.

Looking at the numbers, you can conclude that makes and models like the Honda CR-V, Chevrolet Traverse, Ford Escape, Ford F-150, and Ford Edge are most likely to be the cheaper vehicles to insure .

When shopping for auto insurance , one of the many things that auto insurance companies use to calculate a rate quote is where you choose to live in Rhode Island. Areas with increased crime or more people like Providence, Pawtucket, and East Providence tend to have more expensive car insurance rates, whereas areas that are not as densely populated tend to receive slightly lower rates.

The next table displays the highest-priced places in Rhode Island in which to purchase auto insurance.

Annual rates are comparative as zip code location can affect price quotes significantly.

Finding good, low-cost insurance is not always easy, and deciding which company has the cheapest insurance rates will involve a little more work. Every insurance company has a different process for setting prices, so first let’s look at the rankings for the insurance companies with the most affordable rates in Rhode Island.

We do need to point out that Rhode Island insurance rates are impacted by many factors which can substantially change the price you have to pay. Simply having another birthday, getting married, or getting a few speeding tickets can trigger price changes that can now make some companies more affordable than the competition.

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USAA generally has some of the lowest car insurance rates in Rhode Island at around $719 annually. State Farm, Travelers, Amica, and Progressive also rank well as some of the more affordable Rhode Island insurance companies.

As shown above, if you currently buy coverage from Progressive and switched to State Farm, you might see annual savings of around $356. Drivers with Quincy Mutual might save as much as $499 a year, and Peerless customers might lower prices by $605 a year.

These prices are averages for all types of drivers and the different vehicles they drive and are not factoring in a rate discount . So the car insurance company that can offer the best rates for your situation may not even be featured in the above list. That helps illustrate why you need to quote rates from many companies using your own driver data and vehicle information.

Ratings for Rhode Island insurance companies

Buying coverage from the best auto insurance company is difficult considering how many companies there are in Rhode Island. The information displayed below can help you choose which auto insurers you want to consider when looking for cheaper rates. The rankings below are only comprised of large insurance companies, so companies that have a smaller presence are not factored into this list.

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 10 Major Auto Insurers in Rhode Island Ranked by Customer Satisfaction

1. The Hartford – 93%
2. The General – 91%
3. Progressive – 90%
4. 21st Century – 89%
5. Travelers – 87%
6. State Farm – 87%
7. USAA – 87%
8. Safeco Insurance – 86%
9. AAA Insurance – 86%
10. GEICO – 85%

The chart below illustrates how your choice of deductibles can change insurance premiums when getting quotes for cheap insurance . The rates are based on a single female driver, comprehensive and collision coverage, and no policy discounts are applied.

The chart above illustrates that a 50-year-old driver could cut expenses by $448 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $676 by using a $1,000 deductible. Even younger insureds, like the 20-year-old, could save as much as $1,142 every year by choosing a larger deductible amount. When using a larger deductible, it will be necessary to have enough savings to be able to cover the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.

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Who has the cheapest insurance quotes ?

Drivers have many ways to compare insurance quotes in Rhode Island, but the most prevalent methods are using an exlusive agent such as State Farm or Auto-Owners, an independent insurance agent, or from a direct company like Progressive or Geico.

All three ways can provide insurance quotes, but buyers should know the differences in how they price policies.

Independent insurance agencies have contracts with multiple insurance companies and can get rate quotes from all of them. These types of agencies are not employed by only one company and can give you more rates, which may give you a better chance of finding cheaper coverage. If prices rise, an independent agent can move your coverage and that require little work on your part.

An agent who is captive is able to place business with one company like Allstate or Farmers Insurance agents. These guys and gals cannot give you multiple price quotes, so drivers will want to get other quotes as well.

If you choose to buy insurance direct, you do not use local insurance agents and buy direct from companies such as Esurance or Progressive. Buying insurance direct may be the best choice consumers who do not need high levels of coverage and understand what coverage limits and deductibles they need.

Which way is best to buy cheap insurance in Rhode Island? It would be simple to say shopping direct results in the cheapest rates because you bypass the middleman, but in reality, that is not the case. We could also say that buying insurance from an independent agent results in the best rates because they can quote many companies, but again, that’s not a true statement. In a lot of cases, exclusive agents have price quotes well below independent agents AND direct companies.

Since insurance rates vary so much, the only true way to buy the cheapest coverage is to get as many comparison quotes as possible. It’s recommended that drivers get quotes from all three types to give yourself the best selection. For a list of insurance companies with low rates, click here to view.