Auto insurance premiums in Providence cost $1,822 on average, the same as the state annual average. State Farm, the most affordable company, has an average rate of $790. MoneyGeek analyzed the cheapest insurers by coverage amount and driver type. If you value both cost and quality, MoneyGeek ranked the best auto insurers in Providence.
bestauto insuranceProvidence2021The Cheapest and Best Car Insurance in Providence
Cheapest Overall - State Farm
Best Overall - GEICO
Cheapest State Minimum - State Farm
Cheapest With a Driving Violation - State Farm
The Cheapest Car Insurance Companies in Providence
Average rates showed that the most affordable insurers in Providence for full coverage are:
- State Farm: $790 yearly
- USAA: $899 yearly (only available to current and former military members)
In Providence, the most affordable car insurance provider on average is State Farm. Their typical rates are more than three times cheaper than MetLife, the city’s costliest auto insurance company.
MoneyGeek collected rates from various carriers in Providence using a sample profile, a 40-year-old male driver with a full coverage policy that includes liability insurance and comprehensive and collision insurance.
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- CompanyAmountper year
- 1.$790
- 2.$899
- 3.$1,429
- 4.$1,443
- 5.$1,742
Average Cost of Car Insurance in Providence
Providence$1,822
RI$1,822
U.S.$1,424
In Providence, the average yearly car insurance rate is $1,822. This rate is the same as the Rhode Island average and 27.9% more than the national average of $1,424 per year.
The Best Car Insurance Companies in Providence
MoneyGeek rated auto insurance companies in Providence using a scoring system. Based on its study, the best companies in the city for drivers looking for a balance of affordability and quality service for most drivers are:
- GEICO: MoneyGeek score of 93 out of 100
- Allstate: MoneyGeek score of 88 out of 100
USAA received the highest score in Providence by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.
MoneyGeek ranked auto insurers in the city based on J.D. Power user satisfaction, affordability and financial stability.
1
USAA
Score:100
2
GEICO
Score:93
3
Allstate
Score:88
4
Nationwide
Score:85
5
Progressive
Score:83
6
Travelers
Score:80
7
Hanover
Score:78
8
MetLife
Score:78
9
Liberty Mutual
Score:75
10
MAPFRE Insurance
Score:75
11
Safety Group
Score:75
12
Arbella Insurance Group
Score:73
13
Plymouth Rock Assurance
Score:73
14
Safeco
Score:73
Personalized Quotes to Get You the Cheapest Car Insurance in Providence
To determine car insurance quotes in Providence, providers analyze multiple factors including your age and gender, credit score, driving history and more. For example, in Providence, State Farm’s average policy for an 18-year-old driver is triple the cost of similar coverage for a 40-year-old driver. It’s a wise idea to regularly get a personalized quote so you can find cheap coverage as your situations change.
Shopping around for car insurance in Providence could save you $1,031, which is enough to buy:
344Cups of Coffee
79Months of Your Favorite Streaming Service
Cheapest Car Insurance in Providence by Coverage Amount
The price of auto insurance in Providence and elsewhere is affected by the amount of coverage. For instance, a state minimum liability-only policy in Providence costs $1,086 on average. A full coverage policy costs an average of $1,822, a $736 difference.
Rhode Island Minimum Liability Requirements
- ItemDescription
- Bodily Injury and Property Damage$25,000 per person, $50,000 per accident and $25,000 for property damage. A more protective level is 100/300/100.
Car insurance companies prepare plans that indicate the limits for each level and type of coverage. In Providence, State Farm offers both liability-only and full-coverage plans within 50/100/50 limits. These restrictions mean the policy covers $50,000 of medical bills per person, totaling $100,000 per vehicle, as well as $50,000 of property damage repair. The full-coverage plan also covers your own costs — therefore, its average rate is $221 higher than a liability-only package from the same company.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
Liability Only
- CompanyState Minimumper year50 / 100 / 50per year
- 1.$430$494
- 2.$439$487
- 3.$697$816
- 4.$962$1,027
- 5.$1,022$1,142
Full Coverage
- Company50 / 100 / 50per year100 / 300 / 100per year
- 1.$715$790
- 2.$853$899
- 3.$1,308$1,429
- 4.$1,471$1,443
- 5.$1,548$1,742
Cheapest Car Insurance in Providence if You Have Driving Violations
A speeding ticket or other violation on your driving record can increase your car insurance premium. For example, Travelers policyholders in Providence with a speeding ticket need to pay an average of $323 more annually for their coverage. Similarly, Travelers customers with a DUI on their record need to pay around $846 more per year for their car insurance compared to those with a clean driving record.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
- 1.$790$1,076$790
- 2.$1,038$1,294$1,972
- 3.$1,765$1,508$2,289
- 4.$1,936$1,936$3,437
- 5.$2,164$2,566$2,658
Average Cost of Car Insurance by Postal Code
Your neighborhood in Providence, Rhode Island, also plays a role in the cost of your car insurance premium. This is because localities with higher numbers of accidents, car-theft incidents and uninsured drivers are more expensive for insurers. In Providence, ZIP code 02904 has the cheapest average annual premium at $1,658, which is $280 less than the typical rate in ZIP code 02909.
- Zip CodeState Minimumper year
- 02904$1,658
- 02908$1,870
- 02909$1,938
Insurance Providers That Serve Providence
Factors That Impact Insurance Costs in Providence
In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of car thefts also contribute to car insurance rates in Providence. How Providence ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for Providence are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
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