Trying to find more affordable auto insurance rates in Coventry, RI? Being forced to pay for overpriced auto insurance premiums can stress out your budget and force you to tighten up your finances. Doing a rate analysis is a great way to tighten up your finances.
It's hard to fathom, but the vast majority of consumers have remained with the same auto insurance company for at least the last four years, and 38% of drivers have never even compared quotes to find cheap rates. Consumers in Rhode Island could save almost 15% each year, but they don't believe the big savings they would realize if they switched.
You have multiple insurance companies to buy insurance from, and although it's nice to be able to choose, more options can take longer to find the lowest rates.
You need to do price comparisons every six months because prices tend to go up over time. Just because you found the best price on auto insurance a few years ago you can probably find a lower rate today. Forget anything you know (or think you know) about auto insurance because I'm going to teach you the proper way to properly buy coverages and cut your premium.
Obtaining price quotes for the best-priced protection in Coventry is quite easy. Nearly each driver who is required to buy insurance will most likely be able to save money. Although Rhode Island drivers need to have an understanding of the way insurance companies charge you for coverage and use it to find better rates.
Best companies for Rhode Island auto insurance
The providers in the list below provide comparison quotes in Rhode Island. If multiple companies are shown, we suggest you click on several of them to get the best price comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Malibu LTZ||$1,538||$769||$128|
|Chevrolet Silverado Crew Cab Hybrid 4WD||$1,662||$831||$139|
|Dodge Ram Quad Cab TRX4 Off Road 2WD||$1,174||$587||$98|
|Ford Escape XLT 4WD||$1,108||$554||$92|
|Ford F-150 FX4 4WD||$1,266||$633||$106|
|Ford Focus SE 4-Dr Sedan||$1,402||$701||$117|
|Ford Fusion Hybrid 4-Dr Sedan||$1,624||$812||$135|
|Honda Accord LX 4-Dr Sedan||$1,186||$593||$99|
|Honda CR-V EX-L 2WD||$836||$418||$70|
|Honda Civic EX-L 4-Dr Sedan||$1,232||$616||$103|
|Honda Odyssey LX||$1,146||$573||$96|
|Hyundai Sonata Limited 4-Dr Sedan||$1,394||$697||$116|
|Jeep Grand Cherokee SRT-8 4WD||$1,364||$682||$114|
|Nissan Altima 2.5 S 2-Dr Coupe||$1,612||$806||$134|
|Toyota Camry SE||$1,722||$861||$144|
|Toyota Corolla LE||$1,304||$652||$109|
|Toyota RAV4 Limited 2WD||$1,228||$614||$102|
|Get Your Own Custom Quote Go|
Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Rhode Island minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Premium costs do not factor in specific zip code location which can lower or raise auto insurance rates substantially.
Cost difference between full coverage and liability
The chart below visualizes the comparison of Honda Pilot annual premium costs when comparing full coverage to state minimum liability only. Data assumes no accidents or driving violations, $100 deductibles, married female driver, and no other discounts are factored in.
Honda Pilot rates are for example purposes only. To get rates for your specific vehicle, click here.
When to eliminate full coverage
There is no exact rule of when to phase out full coverage, but there is a general guideline. If the yearly cost of comp and collision coverage is more than around 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let's say your Honda Pilot claim settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $3,000 after paying your policy deductible. If you are currently paying more than $300 a year for comprehensive and collision coverage, then it might be time to buy liability only.
There are some situations where eliminating full coverage is not a good idea. If you still have a lienholder on your title, you have to keep full coverage in order to keep the loan. Also, if you can't afford to buy a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
Impact of careless driving on Coventry car insurance rates
The information below highlights how traffic violations and accidents can impact Chevrolet Malibu annual premium costs for different ages of insureds. The data is based on a married male driver, comp and collision included, $1,000 deductibles, and no discounts are applied.
Chevrolet Malibu rates are for example purposes only. To get rates for your specific vehicle, click here.
Insurance rates by gender in Coventry
The information below shows the comparison of annual premium costs for male and female drivers in Coventry. The price estimates are based on no violations or accidents, comprehensive and collision coverage, $250 deductibles, marital status is single, and no other discounts are factored in on a Honda Accord LX-P.
Honda Accord rates are for example purposes only. To get rate quotes for your specific vehicle, click here.
Smart buyers know how to buy insurance cheaper
Consumers need to have an understanding of some of the elements that help determine the level of your policy premiums. If you have a feel for what positively or negatively impacts your premiums, this allows you to make good choices that may reward you with lower premium levels. Lots of things are taken into consideration when quoting car insurance. Some are obvious such as your driving record, but other criteria are not as apparent such as your marital status or how safe your car is.
Incidental coverages are wasting money - Insurance policies have a lot of extra bells and whistles you can purchase if you aren't diligent. Coverage for things like replacement cost coverage, towing coverage, and Farm Bureau memberships are some examples. You may think they are a good idea when you first buy your policy, but your money might be better spent on other coverage so consider taking them off your policy.
Insurance companies don't like frequent policy claims - If you are a frequent claim filer, don't be surprised to see either higher rates or even cancellation. Auto insurance companies in Rhode Island give the lowest premiums to insureds who do not rely on their insurance for small claims. Insurance coverage is designed for the bigger claims that can't be paid out-of-pocket.
Your employer is a factor - Jobs such as judges, business owners and dentists have the highest rates due to job stress and long work days. On the other hand, professions such as farmers, students and the unemployed have the lowest average rates.
Better drivers pay better premiums - Your driving record impacts your car insurance rates tremendously. Attentive drivers receive lower rates as compared to those with violations. Only having one driving citation may increase your cost twenty percent or more. People who have flagrant citations like DUI or reckless driving may find that they have to to submit a SR-22 or proof of financial responsibility with their state in order to prevent a license revocation.
Check for these discounts
Insuring your vehicles can cost a lot, but you might be missing out on some discounts that can help lower your rates. Certain discounts will be triggered automatically when you get a quote, but lesser-known reductions have to be asked for prior to receiving the credit. If you do not check that you are getting every discount possible, you are not getting the best rate possible.
- Multiple Cars - Buying insurance for more than one vehicle on a single policy can get a discount for every vehicle.
- Driver Education Discount - Have your child successfully take a driver's education course in school.
- Paperless Signup - Many auto insurance companies provide a small discount get Coventry auto insurance on your computer.
- Multiple Policy Discount - If you have multiple policies and insure them with the same company they may give you a discount of up to 20% and get you cheap Coventry auto insurance.
- Low Mileage - Low mileage vehicles could earn discounted prices on garaged vehicles.
- Coventry Homeowners Pay Less - Owning your own home or condo can get you a discount due to the fact that maintaining a home requires a higher level of personal finance.
- Accident Forgiveness Coverage - Not a discount per se, but a few companies such as GEICO, State Farm, and Progressive will allow you to have one accident before hitting you with a surcharge so long as you are claim-free prior to being involved in the accident.
As a sidenote, many deductions do not apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as collision or personal injury protection. Just because you may think you could get a free auto insurance policy, it doesn't quite work that way. But all discounts should help reduce the cost of coverage.
If you would like to view insurance companies with discount auto insurance rates in Coventry, follow this link.
Are car insurance agents a thing of the past?
Some people just prefer to talk to an insurance agent and that is just fine! One of the benefits of getting online price quotes is that you can find cheap car insurance rates and still buy from a local agent. Putting coverage with local insurance agents is still important in Coventry.
For easy comparison, once you complete this quick form, your insurance coverage information is immediately sent to companies in Coventry that can provide free Coventry auto insurance quotes for your insurance coverage. You won't need to contact any agents due to the fact that quote results will go to the email address you provide. You can find the lowest rates without having to waste a lot of time. In the event you want to get a price quote from a specific car insurance provider, you would need to navigate to their website and complete a quote there.
Different types of Coventry car insurance agents
When looking for a reliable agent, you must know there are a couple types of insurance agents and how they work. Insurance agencies in Coventry are categorized either exclusive agents or independent agents.
Independent Car Insurance Agents
Agents that choose to be independent are not limited to a single company so they can insure your vehicles through many different car insurance companies and get the cheapest rates. If your premiums go up, your policy is moved internally and you stay with the same agent. If you are trying to find cheaper rates, it's a good idea to get some free quotes from multiple independent agents to get the best comparison.
Agents that choose to be exclusive can only place business with one company such as Farmers Insurance, Allstate, or State Farm. Exclusive agencies are unable to provide prices from multiple companies so they really need to provide good service. These agents are highly trained on the products they sell which can be an advantage.
Finding the right auto insurance agent is decision based upon more than just the premium amount. Some important questions to ask are:
- How are claims handled?
- Does the quote include credit and driving reports?
- How many companies do they write for?
- How much can you save by raising your physical damage deductibles?
- Will you get a loaner vehicle if you car is being repaired?
- How many years have they been established?
- Do they reduce claim amounts on high mileage vehicles?
Once you have reasonable responses to your questions and an acceptable price quote, most likely you have located an auto insurance agent that is professional and can properly insure your vehicles. But remember, it's your coverage and you can cancel your policy when you choose so never assume that you are permanently stuck with your new company indefinitely.
Your situation helps dictate your coverage
When it comes to choosing your policy for your vehicles, there really is no cookie cutter policy. Everyone's needs are different and your policy should reflect that. Here are some questions about coverages that may help highlight if your insurance needs would benefit from professional advice.
- Is my teen driver covered when they drive my company car?
- Should I buy full coverage?
- Can I afford to pay high deductible claims out of pocket?
- What is an umbrella policy?
- How much coverage applies to personal belongings?
- Does insurance cover tools stolen from my truck?
- How high should my medical payments coverage be?
- Is my state a no-fault state?
- Do I have coverage when using my vehicle for my home business?
If you can't answer these questions but you think they might apply to your situation, you may need to chat with an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies.
Throughout this article, we presented a lot of techniques to get a better price on insurance in Coventry. It's most important to understand that the more rate quotes you have, the higher your chance of finding the cheapest Coventry auto insurance quotes. You may even discover the biggest savings come from the smaller companies. These companies may only write in your state and offer lower premium rates than the large multi-state companies such as Allstate, GEICO and Progressive.
Budget-conscious insurance can be purchased on the web as well as from independent agents in Coventry, so get free Coventry auto insurance quotes from both of them in order to have the best price selection to choose from. Some insurance companies may not provide online rate quotes and many times these regional carriers work with local independent agencies.
- Choosing an Insurance Company (Insurance Information Institute)
- Who Has Affordable Auto Insurance for Good Drivers in Rhode Island? (FAQ)
- Who Has the Cheapest Rhode Island Auto Insurance Rates for a Subaru Outback? (FAQ)
- How Much are Car Insurance Quotes for a Ford F-150 in Rhode Island? (FAQ)
- What Auto Insurance is Cheapest in Pascoag, Rhode Island? (FAQ)
- Electronic Stability Control FAQ (iihs.org)
- How to Avoid Staged Accidents (State Farm)