Are you researching low-cost car insurance rates in Lincoln, RI? Are you overwhelmed by the sheer number of car insurance choices in Lincoln? Many other people are as well. There are so many choices to choose from that it can easily turn into a big hassle to find lower premium rates on car insurance. Lots of people think Lincoln is a great place to live, but the high cost of car insurance can make it hard for many drivers to maintain proper levels of coverage.
Unbelievable but true according to a study a large majority of drivers have bought car insurance from the same company for more than four years, and just under half have never even compared rates from other companies. Most drivers in Lincoln could save 15% each year by just comparing quotes, but they don't invest the time required to compare rates and save money.
If you already have coverage, you should be able to reduce premiums using the following tips. Finding more affordable auto insurance policy in Lincoln is not that difficult. Although Rhode Island vehicle owners can benefit by having an understanding of how companies determine prices because rates fluctuate considerably.
Affordable auto insurance companies in Lincoln
The providers in the list below can provide free quotes in Lincoln, RI. If multiple providers are shown, it's a good idea that you visit several of them to find the lowest auto insurance rates.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Equinox LTZ AWD||$1,364||$682||$114|
|Chevrolet Impala LS||$1,252||$626||$104|
|Chevrolet Silverado LT Regular Cab||$1,532||$766||$128|
|Dodge Ram Quad Cab SLT 2WD||$1,030||$515||$86|
|Ford Escape XLT 4WD||$1,044||$522||$87|
|Ford F-150 XL Super Cab 4WD||$1,154||$577||$96|
|Ford Focus SEL 4-Dr Sedan||$1,814||$907||$151|
|GMC Sierra Denali Crew Cab 4WD||$1,450||$725||$121|
|Honda Accord EX 2-Dr Coupe||$1,392||$696||$116|
|Honda CR-V EX-L 4WD||$1,094||$547||$91|
|Honda Civic Hybrid 4-Dr Sedan||$1,158||$579||$97|
|Jeep Grand Cherokee Laredo 4WD||$1,550||$775||$129|
|Kia Optima SX||$1,374||$687||$115|
|Nissan Altima 2.5 S 2-Dr Coupe||$1,646||$823||$137|
|Nissan Rogue SL 2WD||$1,304||$652||$109|
|Toyota Camry LE||$1,444||$722||$120|
|Toyota Corolla XRS||$1,570||$785||$131|
|Toyota RAV4 2WD||$1,440||$720||$120|
|Volkswagen Jetta SE 4-Dr Sedan||$1,012||$506||$84|
|Get Your Own Custom Quote Go|
Price data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Rhode Island minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Information does not factor in Lincoln location which can decrease or increase premium rates noticeably.
Where to set your deductibles
One of the more difficult decisions when buying auto insurance is how high should the physical damage coverage deductibles be. The comparison tables below show the difference in cost when you buy lower versus higher coverage deductibles. The first rate table uses a $100 deductible for physical damage and the second pricing table uses a $1,000 deductible.
Toyota Corolla rates are for example purposes only. To get rates for your specific vehicle, click here.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get a Quote for Your Vehicle Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get a Quote for Your Vehicle Go|
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Rhode Island minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Prices do not factor in specific Lincoln garaging location which can change premiums substantially.
Using the premium rates above, we can conclude that using a $100 deductible could cost the average driver approximately $44 more each month or $528 every year than choosing the higher $1,000 deductible. Because you would be required to pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to average more than 20 months between claim filings, you would probably be better off going with the higher deductible. The numbers below show an example of how this calculation is made.
|Average monthly premium for $100 deductibles:||$140|
|Average monthly premium for $1,000 deductibles (subtract):||- $96|
|Monthly savings from raising deductible:||$44|
|Difference between deductibles ($1,000 - $100):||$900|
|Divide difference by monthly savings:||$900 / $44|
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible||20 months|
Drive safe and save
The diagram below highlights how speeding tickets and at-fault claims can impact Chevrolet Tahoe insurance costs for different age groups. The premium estimates are based on a single male driver, full coverage, $100 deductibles, and no discounts are taken into consideration.
Chevrolet Tahoe rates are for example purposes only. To get rates for your specific vehicle, click here.
Physical damage deductible comparison
The illustration below highlights how deductible choice and can increase or decrease Dodge Ram yearly insurance costs for each age group. The rate quotes are based on a married male driver, full physical damage coverage, and no discounts are factored in.
Dodge Ram rates are for example purposes only. To get rates for your specific vehicle, click here.
Informed consumers can cut your costs
An important part of buying insurance is that you know a few of the rating criteria that play a part in calculating the level of your policy premiums. When you know what positively or negatively determines premiums, this enables you to make decisions that could result in much lower annual insurance costs. Lots of factors are part of the calculation when quoting car insurance. Some are pretty understandable such as your driving history, but some are more obscure like your vehicle usage and annual miles driven.
Listed below are a few of the "ingredients" used by your company to calculate your rate level.
Higher comp and collision deductibles are cheaper - Your deductibles represent how much money you are required to pay before your car insurance pays a claim. Physical damage insurance, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Examples of some claims that would be covered are a windshield broken by a bird, damage caused by hail, or theft of your vehicle. The more damage repair cost you are required to pay out-of-pocket, the lower your rates will be.
Put fewer miles on your vehicle - The more you drive your car in a year's time the more you will pay for car insurance. Almost all companies calculate prices based upon how much you drive. Cars and trucks that sit idle most of the time get more affordable rates compared to those used for work or business. Verify your policy is showing the proper vehicle usage.
Cheaper prices for prior coverage - Not maintaining insurance can get you a ticket and you may have a hard time finding new coverage because you let your insurance coverage expire. Not only will rates go up, getting caught without coverage will get you fines or a revoked license.
Rural areas have lower prices - Having an address in a rural area can save you money when insuring your vehicles. Fewer drivers translates into fewer accident claims in addition to lower liability claims Drivers who live in large Rhode Island cities have more auto accidents and more time behind the wheel. More time on the road means more chance of being in an accident.
Occupation reflects on rates - Jobs like fire fighters, air traffic controllers, and emergency personnel generally pay higher average rates in part from stressful work requirements and lots of time spent at work. Conversely, occupations such as professors, historians and homemakers generally pay rates lower than average.
Do you qualify for a multi-policy discount? - The majority of car insurance companies will give discounts for people that purchase more than one policy. It's known as a multi-policy discount. Discounts can amount to ten or even up to twenty percent in some cases. Even if you already get this discount, you still need to shop around to help guarantee you have the best rates.
Men pay more for car insurance - Statistics have proven that females tend to be a little less risky than males. That doesn't necessarily mean that women are better drivers. Women and men tend to get into auto accidents in similar numbers, but the male of the species tend to have higher claims. They also get ticketed for serious violations like DWI (DUI) or reckless driving.
Take policy discounts and save on auto insurance
Companies that sell car insurance do not list all available discounts in a way that's easy to find, so here is a list a few of the more well known and the harder-to-find ways to save on auto insurance.
- Data Collection Discounts - Insureds who allow driving data submission to scrutinize when and where they use their vehicle by using a telematic data system such as Progressive's Snapshot may get a rate reduction if they have good driving habits.
- Claim-Free Discount - Good drivers with no accidents pay less in comparison to accident-prone drivers.
- Early Signing - Some auto insurance companies give discounts for switching policies before your current policy expires. It's a savings of about 10%.
- Resident Student - Kids living away from Lincoln attending college without a vehicle on campus may be insured at a cheaper rate.
- Seat Belt Discounts - Using a seat belt and requiring all passengers to buckle up before driving could cut 10% or more on the premium charged for medical payments and/or PIP.
- Low Mileage - Driving less can earn lower rates due to less chance of an accident.
- Life Insurance - Not every insurance company offers life insurance, but if they do you may earn a small discount if you purchase life insurance from them.
Discounts save money, but please remember that most of the big mark downs will not be given to the overall cost of the policy. The majority will only reduce the cost of specific coverages such as collision or personal injury protection. Just because you may think all the discounts add up to a free policy, company stockholders wouldn't be very happy.
A list of auto insurance companies and the discounts they provide include:
- GEICO may offer discounts for defensive driver, driver training, anti-theft, emergency military deployment, multi-vehicle, and seat belt use.
- Travelers has savings for early quote, student away at school, save driver, hybrid/electric vehicle, IntelliDrive, new car, and good student.
- Nationwide discounts include business or organization, defensive driving, anti-theft, family plan, accident-free, Farm Bureau membership, and good student.
- Farmers Insurance has discounts for alternative fuel, teen driver, multi-car, youthful driver, and bundle discounts.
- Esurance offers premium reductions for online shopper, defensive driver, emergency road assistance, safety device, paid-in-full, and multi-policy.
- State Farm policyholders can earn discounts including multiple policy, good driver, Steer Clear safe driver discount, anti-theft, and multiple autos.
- Progressive offers discounts including online quote discount, continuous coverage, good student, multi-vehicle, and multi-policy.
- Mercury Insurance offers discounts for age of vehicle, ease of repair, multi-car, good driver, and annual mileage.
When getting a coverage quote, ask every prospective company which discounts you may be entitled to. All car insurance discounts might not be offered on policies in Lincoln. To find providers with discount rates in Rhode Island, click here.
Compare. Compare. Compare.
Consumers change insurance companies for a number of reasons such as high prices, delays in responding to claim requests, questionable increases in premium and policy cancellation. Regardless of your reason for switching companies, switching companies is pretty easy and you might even save some money in the process.
When buying insurance coverage, never skimp on coverage in order to save money. There are many occasions where drivers have reduced liability limits or collision coverage only to regret at claim time that the small savings ended up costing them much more. Your objective should be to purchase a proper amount of coverage at the best possible price, but do not sacrifice coverage to save money.
In this article, we presented many ways to shop for car insurance online. The key concept to understand is the more rate quotes you have, the higher your chance of finding cheap Lincoln auto insurance quotes. You may even be surprised to find that the biggest savings come from an unexpected company.
For more information, feel free to visit the articles below:
- How to shop for a safer car (Insurance Institute for Highway Safety)
- How Much are Car Insurance Rates for a 20 Year Old Female in Rhode Island? (FAQ)
- What Insurance is Cheapest for a Honda CR-V in Rhode Island? (FAQ)
- How Much are Auto Insurance Quotes for Handicapped Drivers in Rhode Island? (FAQ)
- Who Has Cheap Rhode Island Auto Insurance for Drivers Over Age 60? (FAQ)
- Who Has the Cheapest Auto Insurance for a Toyota Highlander in Rhode Island? (FAQ)
- Who Has Affordable Auto Insurance Rates for Drivers with a DUI in Rhode Island? (FAQ)
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- Five Mistakes to Avoid (Insurance Information Institute)
- A Tree Fell on Your Car: Now What? (Allstate)