How Much Is Car Insurance in Rhode Island? (2023 Averages)
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The cost of car insurance premiums differs across various driver profiles and policy coverage levels. For example, the average cost of car insurance in Rhode Island is $1,822 per year, and drivers with a minimum coverage policy pay about $1,086 per year. However, this annual average rises to $2,227 if you’re a driver with a violation. The cost increases to $5,056 per year on average if you add a young driver to your policy.
The car insurance provider you choose also affects the cost of your premiums. A full coverage policy from State Farm costs $790 per year on average. Meanwhile, a minimum coverage policy from Progressive averages $1,022.
The Average Cost of Car Insurance in Rhode Island
MoneyGeek’s study incorporated all the necessary standard factors that affect average car insurance rates. These considerations include credit score, coverage level and driving record, but the most influential factor on the cost of car insurance in Rhode Island is age, followed by credit score.
Click to compare average costs across different driver profiles.
Average Costs of Car Insurance in Rhode Island
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- DriverAverage Annual PremiumAverage Monthly Premium
- The Average Driver$1,822$152
- Drivers Buying Minimum Coverage$1,086$90
- Adding a Young Driver$5,056$421
- Drivers With a Violation$2,227$186
- Drivers With Poor Credit$3,244$270
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Why Are Car Insurance Rates Expensive in Rhode Island?
According to MoneyGeek, Rhode Island offers one of the highest car insurance rates in the country. Its high traffic density, urban population and rate of uninsured motorists all contribute to increased costs in the state.
Places with a high traffic density and urban populations, like Rhode Island, tend to be more prone to accidents, increasing average car insurance rates. The state also has a high number of uninsured drivers, at 17%, which also contributes to its high annual premium.
Average Cost of Car Insurance in Rhode Island: Full Coverage vs. Minimum Coverage
Based on the MoneyGeek methodology, the average cost of full coverage car insurance in Rhode Island with a limit of 100/300/100 is $1,822 per year. A minimum liability policy only costs $1,086 annually on average. That’s a difference of $736.
The cost per driver varies considerably depending on the amount of coverage purchased and the type of insurance policy. If you purchase a policy with liability coverage, you will pay more than the state minimum policy but less than a full coverage policy.
Average Cost of Car Insurance in Rhode Island by Coverage Level
A state-minimum policy in Rhode Island is the most affordable car insurance you can buy in this state.
If you plan on getting one, know that you can increase your liability coverage to 50/100/50 or 100/300/100. These numbers refer to the liability coverage levels on your policy.
To illustrate, a 50/100/50 policy features:
- $50,000 in bodily injury liability insurance per person
- $100,000 in bodily injury liability insurance per accident
- $50,000 in property damage liability insurance per accident
A full coverage policy includes comprehensive and collision coverage. This coverage pays for damages to your car on top of the standard liability coverage for third parties.
Average Cost of Car Insurance in Rhode Island By Company
Your car insurance costs depend on the insurance provider you choose. While insurance companies consider the same set of factors while determining their rates, the actual costs may vary across.
The most affordable minimum liability and full coverage car insurance in Rhode Island are from State Farm. Drivers with a State Farm policy pay an average of $430 for minimum coverage and $790 for full coverage car insurance per year, respectively.
Metlife has the highest rates in Rhode Island, with an average of $1,739 for minimum coverage and $2,751 for a full coverage policy.
USAA offers the second-cheapest liability-only insurance coverage in the state. However, its policies are only limited to former and current military members and their families.
Average Annual Costs of Car Insurance in Rhode Island - By Company
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- CompanyMinimum CoverageFull Coverage
- $430$790
- $439$899
- $697$1,429
- $962$1,443
- $1,022$1,742
How Much Is Car Insurance in Rhode Island by Age?
Age is one of the most significant contributors to the cost of car insurance in Rhode Island. Younger drivers pay more for annual premiums, as insurers consider them riskier to insure and charge higher rates.
MoneyGeek’s research indicates that a 16-year-old driver purchasing their own policy pays an average of $5,056 — significantly higher than a 40-year-old with a clean record. Parents can save a significant amount on their premiums by adding young drivers to their insurance plans.
Insurers charge first-time drivers the same rates as young drivers due to their lack of experience on the road.
Average Costs of Full Coverage Car Insurance in Rhode Island - By Age
How Does Driving History Affect Car Insurance Costs in Rhode Island?
Insurance companies consider people with several traffic violations as high risk and charge them higher car insurance rates. If you have a history of traffic violations, including at-fault accidents, you will pay more for car insurance than individuals with clean driving records.
If you have a clean driving history, you will pay an average of $1,822 for car insurance per year in the state. However, with a speeding ticket, you will pay $406 more on average. Costs climb even higher for a driver with a DUI, at-fault accident or a more severe violation on their driving record.
Drivers with a history of violations can secure the best cheap car insurance in Rhode Island by comparing prices across multiple insurers.
Average Costs of Full Coverage Car Insurance in Rhode Island - By Driving History
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- Driving ViolationAnnual Premium
- Safe Driver$1,822
- Speeding Ticket$2,227
- At-Fault Accident$2,457
- DUI$3,369
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Credit Scores and the Cost of Car Insurance in Rhode Island
Your credit score also contributes to how much you pay for car insurance in Rhode Island. According to MoneyGeek, individuals who have a good credit score pay $1,919 per year while those with excellent scores pay $1,568 on average, a difference of $351.
In Rhode Island, you will pay an average of $3,244 per year with a poor credit score — $1,325 higher than what individuals with good credit scores pay.
With a good credit score, you can save good money on your monthly car insurance premiums, although drivers with poor scores can also find the cheapest car insurance rates by shopping around.
Average Costs of Full Coverage Car Insurance in Rhode Island - By Credit Score
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- Credit ScoreAnnual Premium
- Excellent$1,568
- Good$1,919
- Fair$2,386
- Below Fair$2,721
- Poor$3,244
How Much Is Car Insurance in Your City?
For this study, MoneyGeek determined the average car insurance cost in Rhode Island for the city of Providence. However, costs vary considerably within the state, based on location and various other factors.
In most cases, more populous cities often have higher car insurance rates due to the increased likelihood of theft and other similar occurrences. You may also pay more if you stay in a city prone to natural disasters and accidents.
Average Costs of Full Coverage Car Insurance in Rhode Island - By City
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- CityAnnual Premium
- $1,822
Frequently Asked Questions About Rhode Island Car Insurance Rates
Several factors influence your car insurance rates in Rhode Island. While shopping around for coverage that suits your needs, you will likely encounter different options at varying prices. MoneyGeek answers some commonly asked questions to provide you with more information about car insurance in the state.
About Mark Fitzpatrick
sources
- Insurance Information Institute. "Facts + Statistics: Uninsured Motorists." Accessed September 14, 2021.