How Much Is Car Insurance in Rhode Island? (2023)

Your auto insurance premium depends on a number of factors, such as your age, the level of coverage you purchase, your location, your driving record and your credit score. Average yearly premiums for full coverage car insurance in Rhode Island range from $700 (State Farm) to $1,580 (GEICO). In addition, a 25-year-old driver pays around $1,279 per year, which is $188 more than what the average adult driver pays.

The average cost of car insurance in Rhode Island is $1,091. However, your rates will depend on the amount of coverage you purchase and your driving record. Drivers with clean driving records can expect to pay an average of $1,091 per year. Rates increase to $1,497 after a speeding ticket, $2,248 after a DUI and $1,166 after an accident.

The average annual cost of auto insurance in Rhode Island is relatively close to the $1,054 national average. Low urban population density, low car theft rates, inexpensive insurance providers and moderate traffic density could all contribute to the modest rates. That said, if you are paying expensive premiums for car insurance in Rhode Island, it could be due to factors such as your age or driving record.

The average cost of car insurance in Rhode Island is just that — an average — and will vary by company. While State Farm has the cheapest minimum liability policy at $344 ($700 for full coverage), Nationwide has the highest average rates for a minimum coverage policy at $887 ($1,317 for full coverage). In Rhode Island, full coverage plans cost more than minimum coverage, but you can find cheap full coverage policies if you shop around.

In Rhode Island, the average cost of auto insurance can range from $577 for the least amount of coverage possible to $1,291 for the maximum coverage amount. Costs will increase as you increase your coverage limits. Comprehensive and collision insurance, also known as full coverage insurance, will increase your annual premiums by hundreds of dollars, but choosing a higher deductible will reduce your costs.

The cheapest policy available in Rhode Island is a minimum coverage policy. These policies only include the minimum liability limits required by Rhode Island law and do not provide collision or comprehensive coverage.

Insurers typically offer higher liability limits, expressed as 50/100/50 or 100/300/100. An insurance policy with liability limits of 50/100/50 includes the following coverage:

• $50,000 bodily injury liability per person
• $100,000 bodily injury liability per accident
• $50,000 property damage liability per accident

The maximum liability option is typically 300/500/300. Liability insurance pays for damages or injuries to others, while full coverage insurance also includes comprehensive and collision coverage, which covers damages to you and your car.

The cost of auto insurance can vary greatly depending on your age, especially if you are a young or inexperienced driver. Here are the average insurance premiums in Rhode Island by age group:

• 22–29: $1,279 per year
• 30–59: $1,091 per year
• 60+: $1,192 per year

Insurance rates typically remain stable for those between the ages of 30 and 60, with rates rising slightly after 60. Drivers in their 20s usually pay higher rates, and the cost of car insurance for new drivers over 30 may be similar since they have less experience.

In Rhode Island, teens pay much more for car insurance than other age groups on average. The annual cost of insuring a 16-year-old male on a family policy is around $3,382. Meanwhile, an individual plan costs around $10,020 per year. Note that in most cases, teens under 18 cannot legally purchase their own insurance policy without having a parent or guardian co-sign.

As teen drivers age and gain experience, costs decrease significantly. A 19-year-old male on a family plan pays an average of $2,512 per year, while a 22-year-old pays only $2,137.

In Rhode Island and most other states, rates differ substantially by gender. The average annual cost of a family plan for a 16-year-old female is $2,887 — $495 less than for a 16-year-old male. By comparing rates from various providers, teens and their families can find the cheapest car insurance for teen drivers in Rhode island.

In Rhode Island, insurance for a new car costs $1,408, on average, which is 24% more than the cost of insuring an older car ($1,136). Insurance for a new vehicle tends to be more expensive due to factors such as its higher actual cash value (ACV), risk of theft and repair costs.

Your vehicle's ACV is used to calculate how much your insurance provider will pay out for comprehensive and collision repairs. As such, a car with a lower ACV usually costs less to insure. Rhode Islanders who drive newer vehicles should consider getting full coverage insurance, which covers both damages to others and to their own vehicle.

Drivers with offenses can expect to pay higher auto insurance premiums than those with clean records. In Rhode Island, the average rates based on driving records are as follows:

• Clean record: $1,091 per year
• At-fault accident: $1,166 per year
• Speeding ticket: $1,497 per year
• DUI: $2,248 per year

Rates usually increase based on the severity of the traffic violation. For example, drivers with a DUI pay a higher rate than those with a speeding citation. You can get cheap auto insurance in Rhode Island with a poor driving record by comparing rates from multiple companies.

Your credit score can also impact your auto insurance prices. Rhode Island drivers with poor credit pay an average annual premium of $1,641, while those with excellent credit pay only $843. Rhode Island motorists can expect to pay the following rates, on average, based their credit scores:

• Excellent: $843 per year
• Good: $1,009 per year
• Fair: $1,210 per year
• Below fair: $1,394 per year
• Poor: $1,641 per year

The best way for Rhode Island drivers with poor credit to find cheap car insurance is to shop around and compare rates offered by different providers.

The cost of auto insurance can vary widely from one part of a state to another. Full coverage auto insurance, for example, costs an average of $1,337 per year in Providence, which is higher than the overall average for the Ocean State. This higher rate may be due to the higher population and traffic density in Providence.

Rhode Island auto insurance rates depend on factors like age, driving history, location and personal needs. Check out MoneyGeek's answers to commonly asked questions for additional details.