Looking for more competitive car insurance rates in Smithfield, RI? If you are new to getting Smithfield car insurance quotes online, by this point your are probably baffled thanks to all the different types of companies competing for your business.

Sad but true, most car insurance buyers in Rhode Island have purchased from the same company for over three years, and virtually 40% of consumers have never compared car insurance rates at all. With the average car insurance premium being $1,847, American drivers could save roughly 46.5% every year, but most undervalue the rate savings if they bought a different policy.

You should take the time to compare prices on a regular basis since insurance prices tend to go up over time. Just because you found the lowest price on car insurance a couple years back there is a good chance you can find better rate quotes now. You can find a lot of misleading information regarding car insurance on the internet, but in this article, you're going to get some tested techniques to save money.

Choosing the best rates in Smithfield can initially seem challenging. In a nutshell, everyone who comparison shops for insurance should be able to cut their insurance bill. But Rhode Island vehicle owners can benefit from knowing the way companies calculate their prices and use this information to your advantage.

The fastest way that we advise to compare policy rates is to realize most of the larger companies provide online access to give you rate quotes. The only thing you need to do is give them some information including if you lease or own, an estimate of your credit level, the year, make and model of vehicles, and your education level. That rating information is instantly sent to many of the top insurers and you should receive rate quotes within a short period of time.

If you would like to start a quote now, click here and find out if you can get cheaper insurance in Smithfield.

The providers in the list below offer quotes in Smithfield, RI. If the list has multiple companies, it's a good idea that you visit two to three different companies in order to find the most affordable rates.

Insurance Rates for Popular Vehicles in Smithfield
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Malibu LTZ $1,462 $731 $122
Chevrolet Silverado LTZ Extended Cab 4WD $1,528 $764 $127
Dodge Ram Crew Cab SLT 2WD $1,684 $842 $140
Ford Escape XLT 4WD $912 $456 $76
Ford F-150 XLT Regular Cab 4WD $1,474 $737 $123
Ford Focus SES 2-Dr Coupe $1,366 $683 $114
Honda Accord LX 4-Dr Sedan $1,186 $593 $99
Honda CR-V EX-L 2WD $1,066 $533 $89
Honda Civic SI 2-Dr Coupe $1,920 $960 $160
Honda Odyssey EX W/Rear Entertainment $1,252 $626 $104
Jeep Grand Cherokee Limited 2WD $1,126 $563 $94
Nissan Altima 3.5 SR 2-Dr Coupe $1,484 $742 $124
Toyota Camry Hybrid $1,650 $825 $138
Toyota Corolla XLE $1,426 $713 $119
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Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Rhode Island minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Rate information does not factor in the specific area where the vehicle is garaged which can affect coverage prices noticeably.

Cost comparison with and without full coverage

The example below shows the comparison of Dodge Ram car insurance rates with and without physical damage coverage. The costs are based on no claims or driving citations, $1,000 deductibles, married female driver, and no discounts are applied to the premium.

Dodge Ram rates are for example purposes only. To get rates for your specific vehicle, click here.

Should you buy full coverage or liability only?

There is no exact formula that works best for making the decision to drop comp and collision coverage, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than 10% of the settlement you would receive from your company, then it might be time to buy liability only.

For example, let's pretend your Dodge Ram claim settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $8,000 after paying your policy deductible. If it's costing you more than $800 annually to have full coverage, then it could be time to drop full coverage.

There are some scenarios where only buying liability is not a good plan. If you haven't satisfied your loan, you have to keep full coverage as part of the loan requirements. Also, if you don't have enough money to buy a different vehicle if your current one is in an accident, you should not consider dropping full coverage.

Policy deductibles

A question often asked by Smithfield drivers is which deductible level should you buy. The rates shown below can help you understand the costs and benefits between high and low policy deductibles. The first price estimate table uses a $250 physical damage deductible and the second rate table uses a $1,000 deductible.

Honda Pilot rates are for example purposes only. To get rates for your specific vehicle, click here.

Honda Pilot insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Pilot LX 2WD $314 $434 $406 $24 $122 $1,325 $110
Pilot EX 2WD $354 $434 $406 $24 $122 $1,365 $114
Pilot EX 4WD $354 $434 $406 $24 $122 $1,365 $114
Pilot EX-L 2WD $354 $528 $406 $24 $122 $1,459 $122
Pilot EX-L 4WD $354 $528 $406 $24 $122 $1,459 $122
Pilot Touring 2WD $354 $528 $406 $24 $122 $1,459 $122
Pilot Touring 4WD $354 $528 $406 $24 $122 $1,459 $122
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Honda Pilot insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Pilot LX 2WD $194 $274 $406 $24 $122 $1,020 $85
Pilot EX 2WD $218 $274 $406 $24 $122 $1,044 $87
Pilot EX 4WD $218 $274 $406 $24 $122 $1,044 $87
Pilot EX-L 2WD $218 $332 $406 $24 $122 $1,102 $92
Pilot EX-L 4WD $218 $332 $406 $24 $122 $1,102 $92
Pilot Touring 2WD $218 $332 $406 $24 $122 $1,102 $92
Pilot Touring 4WD $218 $332 $406 $24 $122 $1,102 $92
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Rhode Island minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Table data does not factor in specific location which can influence rates substantially.

We can derive from the above data that using a $250 deductible would cost the average driver about $28 more each month or $336 annually than choosing the higher $1,000 deductible. Because you would be required to pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to average at least 27 months between claim filings, you would probably be better off by going with a higher deductible. Here is a better example of how you can make this decision for your own policy.

Average monthly premium for $250 deductibles: $118
Average monthly premium for $1,000 deductibles (subtract): - $90
Monthly savings from raising deductible: $28
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $28
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 27 months

One thing to be aware of is that raising deductibles to get cheaper rates results in more money out-of-pocket when you have a claim. That will necessitate some money saved in order to pay the deductible for vehicle repair.

Policy deductibles

The information below illustrates how your deductible choice and can impact Toyota Camry insurance prices for different age groups. The premiums assume a single male driver, full physical damage coverage, and no additional discounts are factored in.

Toyota Camry rates are for example purposes only. To get rates for your specific vehicle, click here.

Car insurance is an important decision

Even though it's not necessarily cheap to insure a vehicle in Smithfield, maintaining insurance serves a purpose in several ways.

The benefits of insuring your vehicle definitely exceed the cost, especially when you need to use it. The average driver in America is wasting up to $855 a year so you should quote rates once a year at a minimum to ensure rates are competitive.

Slash your auto insurance rates with these ten discounts

Insurance can cost an arm and a leg, but there could be significant discounts that can drop the cost substantially. Some trigger automatically at the time of purchase, but once in a while a discount must be asked about before you get the savings. If you are not receiving all the discounts possible, you could be saving more on your auto insurance.Cheaper auto insurance with discounts

Remember that some credits don't apply to your bottom line cost. Most cut the cost of specific coverages such as comprehensive or collision. Despite the appearance that having all the discounts means you get insurance for free, it's just not the way it works.

To locate auto insurance companies that offer discounts in Smithfield, click this link.

You are unique and your auto insurance should be too

When it comes to choosing proper insurance coverage, there really is not a perfect coverage plan. Your needs are not the same as everyone else's.Higher deductibles save money

These are some specific questions could help you determine if your situation will benefit from professional help.

If you're not sure about those questions, then you may want to think about talking to a licensed insurance agent. If you don't have a local agent, simply complete this short form.

Information about specific coverages

Knowing the specifics of a insurance policy can be of help when determining which coverages you need and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy.

Uninsured/Underinsured Motorist coverage - This gives you protection when the "other guys" either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle's occupants as well as your vehicle's damage.

Due to the fact that many Rhode Island drivers only purchase the least amount of liability that is required (Rhode Island limits are 25/50/25), their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked.

Liability coverages - Liability coverage can cover damage that occurs to other people or property that is your fault. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have policy limits of 25/50/25 which means a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.

Liability coverage protects against things like medical services, repair costs for stationary objects, loss of income and repair bills for other people's vehicles. How much liability coverage do you need? That is a decision to put some thought into, but consider buying higher limits if possible. Rhode Island requires minimum liability limits of 25/50/25 but you should consider buying higher limits.

Collision - This pays for damage to your vehicle resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims such as sustaining damage from a pot hole, driving through your garage door and colliding with another moving vehicle. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. Drivers also have the option to raise the deductible to get cheaper collision coverage.

Medical payments coverage and PIP - Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses such as pain medications, doctor visits and chiropractic care. They are used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. They cover you and your occupants and also covers getting struck while a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Comprehensive coverage - Comprehensive insurance will pay to fix damage that is not covered by collision coverage. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things like falling objects, vandalism and damage from a tornado or hurricane. The maximum amount a insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle's value it's not worth carrying full coverage.

Insurance claim statistics

Are you driving a statistically high-claim vehicle? The claim statistics below list the highest and lowest vehicles for likelihood of having to file claims for each type of coverage.

Vehicle Models with the Lowest and Highest Liability Insurance Claims
Lowest Claim Amount Highest Claim Amount
Volvo XC60 Mitsubishi Mirage
Audi A6 Chrysler 200
Fiat 500 Hyndai Accent
Subaru Outback Kia Optima
Mercedes-Benz SL Class Dodge Charger
Chevrolet Corvette Chevrolet Cruze

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Car Insurance Collision Claims by Vehicle
Lowest Claim Amount Highest Claim Amount
Jeep Wrangler Bentley Continental Flying Spur
Mini Cooper BMW 6 Series
Nissan Xterra Bently Continental GTC
Ford F-150 SuperCrew Bently Continental GT
Ford F-250 SuperCab BMW M6
GMC Canyon Audi RS7

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Medical Payment Coverage Claims by Vehicle Model
Lowest Claim Amount Highest Claim Amount
Chevrolet Silverado 3500 Dodge Charger
Chevrolet Silverado 2500 Kia Forte
Chevrolet Corvette Hyundai Accent
Land Rover Range Rover Sport Nissan Sentra
Ford F-250 SuperCrew Chevrolet Spark
Ford F-350 SuperCrew Chevrolet Sonic

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Lowest and Highest Comprehensive Coverage Claims by Vehicle
Lowest Claim Amount Highest Claim Amount
Ford F-350 Bentley Continental GT
GMC Sierra 2500 Mercedes-Benz S Class
Chevy Spark Porsche Panamera GTS
Chevy Silverado 2500 Audi S7
Nissan Leaf Maserati Granturismo
Nissan Xterra BMW M6

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

How much can you save?

Insureds who switch companies do it for a number of reasons such as being labeled a high risk driver, lack of trust in their agent, high prices or unfair underwriting practices. Whatever your reason, choosing a new insurance company can be easier than you think.

We just presented many tips how you can save on insurance in Smithfield. The key thing to remember is the more companies you get premium rates for, the better chance you'll have of finding affordable Smithfield car insurance quotes. You may even discover the best price on insurance is with a small mutual company.

While you're price shopping online, it's very important that you do not skimp on coverage in order to save money. Too many times, an insured cut liability limits or collision coverage to discover at claim time they didn't purchase enough coverage. The aim is to get the best coverage possible at the lowest possible cost, but do not skimp to save money.

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