Are you regretting buying an underperforming, overpriced car insurance policy? It's a common feeling and many Cranston drivers have buyer's remorse.

A recent survey discovered that nearly 70% of drivers have remained with the same car insurance company for over three years, and 38% of drivers have never quoted car insurance rates at all. Rhode Island consumers could save approximately 15% every year by just shopping around, but they don't invest the time required to save money by comparing rate quotes. Companies like State Farm, Allstate, GEICO and Progressive constantly bombard you with catchy ads and consumers find it hard to separate fact from fiction and find the best price available.

You need to take a look at other company's rates before your policy renews because car insurance prices change quite often. Even if you think you had the best price on car insurance a couple years back you may be paying too much now. Forget all the misinformation about car insurance because I'm going to let you in on the secrets to the best way to find better coverage on car insurance at a better price.

The following companies have been selected to offer price comparisons in Rhode Island. If several companies are displayed, it's highly recommended you visit several of them in order to find the most competitive rates.

Insurance Rate Estimates for Popular Vehicles in Cranston
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Malibu LT $1,222 $611 $102
Chevrolet Silverado LS Extended Cab 2WD $1,302 $651 $109
Dodge Ram Quad Cab Sport 4WD $1,440 $720 $120
Ford Escape Limited 2WD $836 $418 $70
Ford F-150 Lariat Super Cab 2WD $1,138 $569 $95
Ford Focus SES 2-Dr Coupe $1,204 $602 $100
Honda Accord EX 2-Dr Coupe $1,814 $907 $151
Honda CR-V LX 4WD $1,008 $504 $84
Honda Civic DX 2-Dr Coupe $1,406 $703 $117
Honda Odyssey Touring $1,762 $881 $147
Hyundai Elantra SE 4-Dr Sedan $1,346 $673 $112
Nissan Altima 2.5 S 4-Dr Sedan $1,154 $577 $96
Nissan Rogue SL AWD $1,500 $750 $125
Toyota Camry SE $1,516 $758 $126
Toyota Corolla S $1,494 $747 $125
Get Your Own Custom Quote Go

Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Rhode Island minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, multi-policy, and claim-free. Price estimates do not factor in Cranston location which can lower or raise coverage prices substantially.

Rate increases following a ticket or accident

The diagram below demonstrates how speeding tickets and at-fault fender-benders drive up Hyundai Sonata insurance costs for different ages of insureds. The rate quotes are based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are factored in.

Hyundai Sonata rates are for example purposes only. To get rates for your specific vehicle, click here.

How much more does full coverage cost in Cranston?

The information below examines Toyota Camry car insurance costs with and without full coverage. Data assumes no violations or accidents, $250 deductibles, married female driver, and no policy discounts are applied.

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

When to stop paying for full coverage

There is no clear-cut rule for excluding full coverage, but there is a guideline you can consider. If the yearly cost of full coverage is more than about 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.

For example, let's assume your Toyota Camry claim settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $5,000 after you pay the deductible. If it's costing in excess of $500 a year for your policy with full coverage, then you might want to think about dropping full coverage.

There are some conditions where buying only liability insurance is not financially feasible. If you have an outstanding loan on your vehicle, you have to maintain full coverage to protect the lienholder's interest in the vehicle. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not drop full coverage.

Take advantage of every car insurance discount

Some companies do not list every discount they offer very clearly, so the list below details both the well known in addition to some of the lesser obvious credits available to you.Cheaper car insurance with discounts

A quick disclaimer, some of the credits will not apply to your bottom line cost. Most only cut specific coverage prices like medical payments or collision. Just because you may think adding up those discounts means a free policy, that's just not realistic.

A list of car insurance companies and a partial list of their discounts are shown below.

If you need lower rates, check with every company which discounts you qualify for. Some of the earlier mentioned discounts might not be offered in Cranston. To locate insurers who offer free car insurance quotes in Rhode Island, click here to view.

Why you need auto insurance

Even though rates can get expensive, insurance is required for several reasons.

First, just about all states have mandatory liability insurance requirements which means state laws require specific minimum amounts of liability insurance coverage if you drive a vehicle. In Rhode Island these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if you bought your vehicle with a loan, most lenders will have a requirement that you buy full coverage to ensure the loan is repaid in case of a total loss. If you default on your policy, the bank will be required to insure your vehicle at a much higher rate and require you to reimburse them for it.

Third, auto insurance protects both your assets and your car. It will also reimburse you for most medical and hospital costs for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if you are named as a defendant in an auto accident. If you have damage to your vehicle as the result of the weather or an accident, collision and comprehensive coverages will cover the damage repairs after a deductible is paid.

The benefits of insuring your car greatly outweigh the cost, specifically if you ever have a liability claim. But the average American driver is overpaying over $820 a year so it's important to compare rates once a year at a minimum to save money.

Car insurance is unique, just like you

Always remember that when buying proper insurance coverage, there really is not a perfect coverage plan. You are unique so your insurance should reflect thatCar insurance savings Here are some questions about coverages that might help in determining if your situation will benefit from professional help.

If you can't answer these questions but one or more may apply to you, you may need to chat with an agent. If you don't have a local agent, simply complete this short form or click here for a list of car insurance companies in your area. It's fast, free and can provide invaluable advice.

Compare rate quotes but buy from a local neighborhood Cranston car insurance agent

Many people just prefer to buy from a local agent and that is a smart decision Insurance agents are highly skilled in risk management and help you file claims. The best thing about getting online price quotes is you can get better rates but also keep your business local. Buying from small agencies is important particularly in Cranston.

To make it easy to find an agent, after completing this short form, the quote information is instantly submitted to local insurance agents who will return price quotes and help you find cheaper coverage. It simplifies rate comparisons since you won't have to contact an agency since rate quotes are delivered to the email address you provide. If you wish to compare rates from a specific company, you would need to visit that company's website and fill out their quote form.

If you want a reputable insurance agent or broker, you need to know there are two types of agencies and how they are distinctly different. Auto insurance agents can be categorized as either independent (non-exclusive) or exclusive. Either one can properly insure your vehicles, but it's good to learn the difference in the companies they write for because it can impact your agent selection.

Independent Auto Insurance Agents (or Brokers)

Agents that choose to be independent are normally appointed by many insurers and that enables them to quote your coverage through many companies and find the cheapest rate. If your premiums go up, your agent can just switch to a different company without you having to go to a different agency.

If you are comparing rate quotes, we recommend you include several independent agencies so that you have a good selection of quotes to compare.

Exclusive Insurance Agencies

These type of agents work for only one company such as Allstate, Farmers Insurance or State Farm. These agents are unable to shop your coverage around so you might not find the best rates. They receive extensive training on their products and sales techniques which helps them sell on service rather than price.

Finding the right insurance agency should include more criteria than just a cheap price. Any agent in Cranston should be willing to answer these questions.

Auto insurance 101

Knowing the specifics of your policy can help you determine which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring. Below you'll find typical coverages found on most auto insurance policies.

Coverage for liability - This can cover damage that occurs to other's property or people by causing an accident. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 25/50/25 which means $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged propery. Alternatively, you may have a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage protects against claims such as funeral expenses, repair costs for stationary objects, legal defense fees, repair bills for other people's vehicles and emergency aid. How much liability coverage do you need? That is a personal decision, but buy as large an amount as possible. Rhode Island requires minimum liability limits of 25/50/25 but you should think about purchasing more liability than the minimum.

Insurance for medical payments - Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses such as pain medications, doctor visits, rehabilitation expenses, EMT expenses and hospital visits. They are utilized in addition to your health insurance policy or if you are not covered by health insurance. It covers both the driver and occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay

Uninsured Motorist or Underinsured Motorist insurance - Your UM/UIM coverage provides protection from other motorists when they do not carry enough liability coverage. It can pay for injuries sustained by your vehicle's occupants and also any damage incurred to your vehicle.

Due to the fact that many Rhode Island drivers only purchase the least amount of liability that is required (25/50/25 in Rhode Island), it doesn't take a major accident to exceed their coverage limits. So UM/UIM coverage is very important. Frequently these coverages are identical to your policy's liability coverage.

Comprehensive coverage (or Other than Collision) - This coverage pays to fix your vehicle from 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 coverage pays for things such as vandalism, falling objects, fire damage and hitting a deer. The highest amount you'll receive from a claim is the ACV or actual cash value, so if it's not worth much more than your deductible consider dropping full coverage.

Collision coverage - This coverage pays for damage to your vehicle resulting from colliding with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for claims such as sideswiping another vehicle, hitting a mailbox, driving through your garage door, hitting a parking meter and crashing into a ditch. Collision is rather expensive coverage, so consider removing coverage from older vehicles. Drivers also have the option to bump up the deductible to get cheaper collision coverage.

Insurance losses by coverage

What vehicles have the most claims? The statistics tables below show the best and worst vehicles for likelihood of having to file claims.

Lowest and Highest Car Insurance Liability Claims by Manufacturer Model
Lowest Overall Losses Highest Overall Losses
Audi A6 Mitsubishi Mirage
Subaru Forester Chevrolet Impala
Subaru Outback Dodge Charger
Mercedes-Benz SL Class Kia Rio
Chevrolet Corvette Mitsubishi Lancer
Volvo XC60 Chevrolet Sonic

Statistics from IIHS.org for 2013-2015 Model Years

Auto Insurance Medical Payment Claims by Vehicle Make and Model
Lowest Overall Losses Highest Overall Losses
Audi A4 Allroad Dodge Charger
Ford Expedition Nissan Sentra
Tesla Model S Chrysler 200
Chevrolet Silverado 3500 Chevrolet Spark
Ford F-350 SuperCrew Kia Forte
Ford F-250 SuperCrew Nissan Versa

Statistics from IIHS.org for 2013-2015 Model Years

Manufacturer Models with the Lowest and Highest Auto Insurance Comprehensive Claims
Lowest Overall Losses Highest Overall Losses
Chevy Spark Audi S7
GMC Sierra 2500 Bentley Continental GT
Nissan Leaf Bentley Continental GTC
Chevy Silverado 2500 BMW M6
Smart ForTwo Mercedes-Benz S Class
Nissan Xterra Porsche Panamera GTS

Statistics from IIHS.org for 2013-2015 Model Years

Manufacturer Models with the Lowest and Highest Auto Insurance Collision Claims
Lowest Overall Losses Highest Overall Losses
Chevrolet Colorado Bently Continental GT
Nissan Xterra Maserati Ghibli
Ford Edge BMW 6 Series
Ford F-250 SuperCab Maserati Granturismo
Smart ForTwo Bently Continental GTC
Jeep Wrangler Bentley Continental Flying Spur

Statistics from IIHS.org for 2013-2015 Model Years