Auto Insurance in Rhode Island
The Rhode Island Department of Business Regulation – Insurance Division (http://www.dbr.state.ri.us) has produced a consumer report with information about car insurance in Rhode Island, how to find car insurance, and how to keep your car insurance rates low.
It is designed for residents of Rhode Island to have a basic understanding of how to shop for auto insurance, and to better understand how car insurance companies in Rhode Island operate.
You can contact the Insurance Division in Rhode Island at
Phone: 401-462-9520
Here are some important pieces of information from this consumer report.
Smart Shopping for Car Insurance
No one wants to pay more for their car insurance than is necessary, but many people do. The best way to determine if your premium is fair is by shopping around and finding quotes. You can do this easily and quickly online. Different companies charge different rates for the same coverage.
- Seek unbiased information, such as a car insurance quote from a third party, not an insurance agency
- Shop for true comparisons
- Look for consumer protection policies
How are my Car Insurance Rates Determined?
Underwriting and rating determine the price you must pay for car insurance in Rhode Island. Underwriting determines whether or not the car insurance company will write an auto policy for you, based on the information on your application.
When you apply for insurance, you’re asked a series of questions that serve the purpose of determining the likelihood of you making a claim. There are factors beyond your control (age, gender), factor’s that you’re able to control and are related to your lifestyle (location, how often you drive) and factors that are entirely within your control (make/model of your car, the coverage you choose to buy).
The underwriter will determine whether or not you present an acceptable risk, and the next step is to determine your rates.
Rates and Premium Charges in Rhode Island
Applicants are grouped together with people with similar policy characteristics, and the entire group pays the same premium. The factors considered in determining how much you pay for auto insurance are based on the following factors:
Driving record, Territory, Gender and Age, Marital Status, Prior Insurance Coverage, Use of Vehicle, Types of Coverage and Limits of Liability Chosen, Make and Model of Car, Credit Scoring
How Can I Get Discounts on Car Insurance in Rhode Island?
- Multiple vehicles on the same policy
- Driver’s education courses
- Good student
- Safety devices
- Low mileage
- Good driver/renewal discount
- Auto/home insurance package
- Anti-theft devices
- Dividends
Rhode Island Automobile Insurance Plan (RIAIP)
This plan is an assigned risk pool that will give auto insurance to people who have been refused by auto insurance companies in the past. Insurers are required to remove you from this plan after a three-year satisfactory driving record. Then you have three options:
- Shop around and find a good car insurance company in Rhode Island
- Go back into the RIAIP
- Get a car insurance quote from the agent who is taking you out of the plan, and decide if you want to return into the plan.
The minimum car insurance policy requirements in the state of Rhode Island are:
$25,000 for bodily injury to one person
$50,000 for bodily injury of one or more person in once accident
$25,000 for property damage in once accident
You can contact the Rhode Island Automobile Insurance Plan (RIAIP) in the following ways:
Phone: 401-946-2600
Fax: 401-528-1409
Email: riaip@aipso.com
For confirmation of coverage, call 401-946-0480
