Car insurance is an expensive purchase, particularly for Rhode Island drivers. If you own a vehicle, it’s inevitable. Ranked #4 in a 2018 car insurance rate comparison by state, Rhode Island has the fourth highest car insurance premiums in the Nation. With an average yearly premium of $1,852, it’s helpful to know how the price is determined when making such a significant purchase. At Tapalian Law, we truly know the importance of having suitable car insurance coverage, as we explored in a recent Rhode Island Accident Lawyer Blog. But why are car insurance premiums in Rhode Island 36% above the national average? Little Rhody may be the smallest state, but we are well populated and pack a lot of drivers into such a small area. Providence personal injury lawyers know that more drivers on the road will almost inevitably lead to more crashes. More accidents lead to more insurance claims, hereby bumping up car insurance rates. Whether you are looking to insure a new teenage driver or shopping around for new car insurance for yourself, its good to know what to expect when price shopping car insurance in Rhode Island.
How are Car Insurance Rates Determined?
Auto insurance premiums vary from state to state and from company to company but there are a multitude of similarities among them. Vehicle insurance providers determine your premium based on a number of risk factors. Some of these risk factors you can control, some you cannot.
- Age & Gender: Both have a huge impact on your premium. Older drivers tend to pay less than younger drivers. Female drivers statistically get in less accidents than male motorists and therefore have lower premiums.
- Location: Rhode Island has one of the highest car insurance premiums in the U.S., as we know. Your state, whether your car is garaged, and what the crime rate is in your area, all factor into your premium.
- Type of Vehicle: A brand new, luxury sports car loaded with the latest features will always have a more expensive premium than an older, base model vehicle.
- Driving Record: Traffic violations and prior at-fault accidents can have a major impact on your car insurance premium.
- Type of coverage: Every state, including Rhode Island, has minimum auto insurance requirements by law. If you elect higher coverage limits than required by law, your premium will increase. Keep in mind that higher coverage limits may be well worth the additional expense if you are involved in a car crash. The RI car insurance requirements are, at a minimum:
- Bodily Injury: $25,000 per person / $50,000 per accident
- Property Damage : $25,000 per accident
- Uninsured/Underinsured Motorist Bodily Injury: $25,000 per person / $50,000 per accident
At Tapalian Law, our Providence personal injury lawyers work with clients injured in auto accidents every day. Despite the additional premium, the clients that have the extra protection on their policy are thankful they made that choice. Knowing that an estimated 15% of automobiles in Rhode Island are uninsured, additional uninsured motorist coverage and underinsured motorist coverage are options to strongly consider having on your policy. In the event you get hurt by a driver who has no car insurance, or very little auto insurance, it’s an extra layer of financial protection on your side. Visit our Rhode Island Accident Lawyer Blog to explore the differences between uninsured motorist coverage and underinsured motorist coverage. Extra coverage options vary among car insurance providers so research what features are most beneficial to you in the unfortunate case you are involved in a collision.
How Can I Get a Discount on my RI Car Insurance?
Discounts are offered on car insurance premiums by a number of auto insurers and vary among providers. Some insurers offer a decrease in car insurance rates for:
- Insuring multiple vehicles on the same policy
- Driver education courses
- Good grades for students
- Safety devices, such as airbags
- Low mileage/less vehicle use
- Good driving record
- Repeat customers
- Auto & homeowner’s insurance from same provider
- Anti-theft devices, such as alarms
Whether you live in Cranston, Newport, or Pawtucket, one of the best ways to lower your RI car insurance premiums is to shop your coverage around on a regular basis. Pricing and policies fluctuate among insurers, so check with several companies to make sure you are taking advantage of all discounts for which you are eligible. If you are fortunate, you won’t need to use the benefits your policy covers, but as experienced car accident injury attorney’s at Tapalian Law, we know that auto accidents are unexpected. Crashes and collisions are all too common in Rhode Island and can result in serious personal injuries and fatalities. Should you have the misfortune to be hurt in a vehicle crash in Rhode Island with a driver who has no insurance, or minimal coverage, it is to your advantage to be prepared with adequate car insurance coverage.
Seek Expert Advice from a Providence Car Accident Lawyer
Attorney David Tapalian has been helping those injured in Rhode Island car accidents for over 15 years. With offices in Providence, RI, and Seekonk, MA, we are conveniently located to those hurt in accidents in East Providence, Pawtucket, Attleboro and all over Rhode Island and Massachusetts. If you are too injured to come to us, Attorney David Tapalian will come to you whether in the hospital or the home. The professional staff at Tapalian Law will help you every step of the way during your RI personal injury case and fight for the compensation you deserve. Let us begin helping you recover damages from your accident today. Call us at 401-552-5000, or email Tapalian Law.