How long has it been since you compared quotes for cheaper insurance rates in West Warwick, RI? Are you tired of trying to scrape together enough money to pay insurance each month? Your situation is no different than millions of other drivers.
A recent NerdWallet.com study revealed that a large majority of drivers renewed their policy with the same company for over three years, and about 40% of consumers have never shopped around. Drivers in Rhode Island could save 15% a year by just shopping around, but they don't want to spend time to compare rates and save money.
Companies like State Farm and GEICO increase brand awareness with fancy advertisements and consumers find it hard to separate fact from fiction and take the time to shop coverage around.
If you have coverage now, you stand a good chance to be able to save money using the ideas presented in this article. Locating the best rates in West Warwick is much easier if you have a good place to start. Nevertheless, Rhode Island drivers do need to know the methods companies use to calculate their prices because it can help you find the best coverage.
Take policy discounts and save on insurance
Insurance is neither fun to buy or cheap, but you can get discounts that could help you make your next renewal payment. Some discounts apply automatically when you complete an application, but some need to be asked about before you get the savings.
- Discount for Life Insurance - Select insurance carriers reward you with a small discount if you purchase a life policy as well.
- Smart Student Discounts - Excelling in school can be rewarded with saving of up to 25%. Many companies even apply the discount to college students until age 25.
- Seat Belts Save - Forcing all vehicle occupants to buckle their seat belts could cut 10% or more off the medical payments premium.
- Multi-Vehicle Discounts - Buying insurance for multiple cars or trucks on one policy qualifies for this discount.
- E-sign - A handful of companies will give a small break simply for signing online.
- Driver Safety - Completing a driver safety class could save 5% or more depending on where you live.
- Discounts for New Vehicles - Putting insurance coverage on a new car can get you a discount compared to insuring an older model.
- Discounts for Safe Drivers - Safe drivers can save up to 40% or more on their West Warwick car insurance quote than drivers with accident claims.
- Waiver for an Accident - Not necessarily a discount, but companies like Progressive, Allstate, and Liberty Mutual may permit one accident without getting socked with a rate hike so long as you haven't had any claims prior to being involved in the accident.
- Sign Early and Save - A few companies give discounts for buying a policy early. You could save around 10% when you buy West Warwick car insurance online.
You should keep in mind that some of the credits will not apply the the whole policy. Some only apply to the price of certain insurance coverages like physical damage coverage or medical payments. So despite the fact that it appears you can get free auto insurance, it just doesn't work that way.
Some companies that may have some of the discounts shown above include:
When getting free West Warwick car insurance quotes, it's a good idea to each company or agent the best way to save money. Some discounts listed above might not be offered in West Warwick. To see a list of companies offering insurance discounts in Rhode Island, click here to view.
Affordable West Warwick car insurance rate quotes
To find the best car insurance prices, there are several ways of comparing rate quotes from car insurance companies in your area. The fastest way to find cheaper rates is simply to get online rate quotes.
Getting quotes online is very simple and it takes the place of having to physically go to local West Warwick insurance agencies. Shopping for car insurance online makes this process obsolete unless you prefer the trained advice of a local West Warwick agent. Drivers can price shop your coverage online and have a local West Warwick agent actually service the policy.
Keep in mind that comparing more rates from different companies provides better odds of finding more affordable rates.
The following companies have been selected to offer quotes in Rhode Island. If multiple companies are listed, we suggest you visit two to three different companies in order to find the most competitive rates.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Malibu LS||$1,582||$791||$132|
|Chevrolet Silverado Crew Cab Hybrid 4WD||$1,586||$793||$132|
|Dodge Grand Caravan SE||$996||$498||$83|
|Dodge Ram Crew Cab SLT 2WD||$1,162||$581||$97|
|Ford Edge Limited 2WD||$1,414||$707||$118|
|Ford Escape XLT 2WD||$1,176||$588||$98|
|Ford F-150 FX4 Super Cab 4WD||$1,222||$611||$102|
|Ford Focus SE 2-Dr Coupe||$1,204||$602||$100|
|Honda Accord EX 4-Dr Sedan||$1,218||$609||$102|
|Honda CR-V EX-L 4WD||$1,102||$551||$92|
|Honda Civic LX-S 4-Dr Sedan||$1,112||$556||$93|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$1,400||$700||$117|
|Mazda 3 I Touring 4-Dr Sedan||$1,488||$744||$124|
|Nissan Altima 2.5 S 2-Dr Coupe||$1,998||$999||$167|
|Toyota Camry XLE||$1,276||$638||$106|
|Toyota Corolla S||$1,476||$738||$123|
|Get Your Own Custom Quote Go|
Cost estimates assume married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Rhode Island minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Rate information does not factor in vehicle garaging location which can influence price quotes considerably.
Tickets and at-fault accidents raise rates
The example below illustrates how speeding tickets and at-fault accidents can increase Chevrolet Tahoe insurance costs for different age groups. The premiums are based on a married female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied to the premium.
Chevrolet Tahoe rates are for example purposes only. To get rates for your specific vehicle, click here.
Liability only or full coverage
The diagram below shows the comparison of Nissan Altima auto insurance costs with full coverage and liability only. The rate quotes are based on no accidents or driving violations, $100 deductibles, married male driver, and no discounts are applied.
Nissan Altima rates are for example purposes only. To get rates for your specific vehicle, click here.
When to switch to liability coverage only
There is no definitive formula of when to stop paying for physical damage insurance, but there is a guideline you can use. If the annual cost of having full coverage is more than around 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
For example, let's assume your Nissan Altima book value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $8,000 after paying your deductible. If you are paying over $800 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are a few cases where removing full coverage is not a good idea. If you haven't satisfied your loan, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage.
Males versus Females
The diagram below compares insurance prices for male and female drivers in West Warwick. The premiums are based on no accidents or driving violations, comprehensive and collision coverage, $500 deductibles, drivers are not married, and no other discounts are factored in on a Ford Fusion Sport.
Ford Fusion rates are for example purposes only. To get rate quotes for your specific vehicle, click here.
What impacts West Warwick car insurance rates?
A large part of saving on auto insurance is knowing some of the elements that help calculate the price you pay for auto insurance. If you have some idea of what determines base rates, this enables you to make decisions that can earn you lower auto insurance prices.
The following are just a few of the factors that factor into premiums.
- Keep auto insurance rates low by being claim-free - Auto insurance companies in Rhode Island give cheaper rates to people who do not file claims often. If you're an insured who likes to file claims you can look forward to higher rates. Insurance coverage is meant to be used in the event of the large, substantial claims.
- High performance equals high premiums - The performance level of the car you need to insure makes a big difference in your car insurance bill. The cheapest rates will generally be found on low performance passenger cars, but the cost you end up paying is determined by many additional factors.
- Liability preserves assets - The liability coverage on your policy is the coverage that protects you if you are found to be at fault for an accident. It will provide legal defense coverage up to the limits shown on your policy. It is affordable coverage compared to comp and collision, so do not skimp.
- More traffic equals higher costs - Being located in less populated areas has definite advantages when it comes to auto insurance. Drivers who live in large cities have more road rage incidents and higher rates of accident claims. Less people living in that area translates into fewer accidents and also fewer theft and vandalism claims.
- Better credit means lower premiums - Having a bad credit rating can be a huge factor in calculating your auto insurance rates. So if your credit is lower than you'd like, you could save money insuring your vehicle if you clean up your credit. Consumers who have high credit ratings tend to file fewer claims and have better driving records than drivers with lower credit scores.
Three good reasons to insure your vehicle
Despite the high cost of buying insurance in West Warwick, buying insurance may be required and benefits you in several ways.
- The majority of states have minimum mandated liability insurance limits which means state laws require a minimum amount of liability insurance coverage in order to be legal. 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.
- If you have a loan on your vehicle, most lenders will make it a condition of the loan that you have full coverage to guarantee payment of the loan. If coverage lapses or is cancelled, the bank will be required to insure your vehicle for a much higher rate and require you to fork over the higher premium.
- Insurance protects not only your car but also your assets. It also can pay for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, will also pay attorney fees if you are sued as the result of your driving. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will cover the repair costs.
The benefits of having insurance are definitely more than the cost, especially for larger claims. The average driver in Rhode Island is currently overpaying as much as $820 a year so compare rates at every policy renewal to ensure rates are inline.
More quotes mean more car insurance savings
When trying to cut insurance costs, you should never skimp on coverage in order to save money. In many instances, an insured dropped liability limits or collision coverage and learned later that the small savings ended up costing them much more. Your focus should be to buy enough coverage at the best possible price and still be able to protect your assets.
You just learned a lot of tips how to save on car insurance in West Warwick. The key concept to understand is the more times you quote, the higher your chance of finding cheap West Warwick car insurance quotes. You may even find the most savings is with an unexpected company. These smaller insurers may cover specific market segments cheaper compared to the large companies like State Farm or Progressive.
Additional detailed information can be read in these articles:
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- How Much are Auto Insurance Quotes for Handicapped Drivers in Rhode Island? (FAQ)
- How Much is Rhode Island Auto Insurance for a Hyundai Tucson? (FAQ)
- What Auto Insurance is Cheapest in Westerly, Rhode Island? (FAQ)
- How Much are Car Insurance Quotes After a Speeding Ticket in Rhode Island? (FAQ)
- What Auto Insurance is Cheapest in Pascoag, Rhode Island? (FAQ)
- A Tree Fell on Your Car: Now What? (Allstate)
- Frontal Crash Tests (iihs.org)
- Five Mistakes to Avoid (Insurance Information Institute)
- Liability Insurance Coverage (Nationwide)