Rhode Island Auto Insurance

Rhode Island insurance companies can use your credit history to accept applicants and set insurance rates.  However many other factors are used to determine your rates such as the age of the drivers on the policy, the car you drive, driving record, where you live and your marital status.  Since Rhode Island is a Torte state, any individual who is found to be at fault in an accident can be sued for pain, suffering, lost wages, and medical expenses.  For this reason, insurance companies advise policy holders to buy more than the minimum liability auto insurance.  The average insurance premium in Rhode Island as of 2006 is approximately $1,038.00 and the state is ranked as the 7th most expensive for insurance premiums in the nation.

The state of Rhode Island does require all insurance companies to offer uninsured and underinsured motorist insurance to all their policy holders.  Generally it is included in the policy automatically.  Uninsured and underinsured coverage provides protections against drivers who do not carry the mandatory liability auto insurance demanded by the state.  Underinsured and uninsured coverage is not mandatory in the state of Rhode Island but it is recommended.  If you decide to forego this option, the insurance company may require you to provide a signed declaration page stating that you chose not to take the underinsured and uninsured coverage.

You or your insurance company may exclude members of your household from coverage on your insurance policy.  If the individual is not listed on your policy, the insurance company does not have to provide coverage for that person.  Any exclusion will be listed in the exclusion section of your policy with all of the other circumstances which your insurance company is not responsible for payment on a claim.  If your policy lapses or cancels you can be cited for driving without the required insurance so you must prove you had coverage at the time of the citation or obtain the required insurance policy before your license or registration will be reinstated.  If the policy is cancelled you have 15 days to fix the problem. 

There are over 200 officially accepted insurance companies listed in Rhode Island.  The list below is only a partial list.  The complete list can be found at the Rhode Island Insurance Division’s web site.  21st Century Casualty Company, 21st Century Insurance Company of the Southwest, American Insurance Company, ACE Indemnity Insurance Company, AIG National Insurance Company, AIG Premier Insurance Company, AMEX Assurance Company, Aetna Insurance Company of Connecticut, Affiliated FM Insurance Company, Balboa Insurance Company, Beabon Mutual Insurance Company, California Casualty Indemnity Exchange, Continental Indemnity Company, County Mutual Insurance Company, Esurance Insurance Company, Farmers Insurance Exchange, Fidelity National Insurance Company, First Liberty Insurance Corporation, GuideOne Mutual Insurance Company, Infinity Insurance Company, and State Farm Mutual Automobile Insurance Company.

One of the methods you can use to reduce the cost of your auto insurance premiums is to purchase more than one type of insurance policy with the same company.  You will also get discounts for a clean driving record and possibly for renewing you policy with the same company repeatedly.  Making sure you insurance never lapses will sometimes reduce your premiums as well as belonging to a particular professional group such as engineers, teachers, or doctors.  Younger drivers can get discounts for maintaining good grades, and completing a driver safety course approved by the state.  Insuring multiple vehicles will also reduce your premiums.  Anti theft devices and safety mechanisms such as airbags and seat belts will contribute to the reduction of your auto insurance premiums.  It may also be useful to know which cars are frequently targeted by thieves.  The list of the top ten most often stolen cars in the state of Iowa are listed below.

Top 10 Stolen Cars

1. 1990 Toyota Camry
2. 1992 Honda Accord
3. 1993 Honda Civic
4. 1996 Jeep Cherokee/Grand Cherokee
5. 1996 Ford Taurus
6. 1986 Oldsmobile Cutlass
7. 1998 Nissan Maxima
8. 1989 Toyota Corolla
9. 1993 Dodge Caravan
10. 1995 Acura Integra