Cheap Insurance Quotes for a Honda Accord in Rhode Island

Cheap Insurance Quotes for a Honda Accord in Rhode Island

Your chances of finding the cheapest coverage for a Honda Accord in Rhode Island depends upon many factors such as your financial responsibility, the likelihood of vehicle theft, and your choice of deductibles. Rhode Island drivers pay an average rate of $1,090 annually for Accord insurance, but that amount is a valuation using rating data for a 40-year-old single female driver that included full coverage and $1,000 physical damage deductibles.

There is a very good chance that you are not 40 and maybe not even a female, married instead of single, and you possibly have other drivers on your policy that need factored in. Making even small differences in the rating input factors can create big changes in rate quotes.

There is no one cookie-cutter policy that works for everyone, so your best shot at finding the most affordable coverage for your Honda is to do your own rate comparisons. It only takes a couple of minutes and you will get price quotes from top-rated companies available.

Insure Your Honda for Less

The specific model of Accord tends to impact the cost of coverage, so the rate you pay to insure a Accord LX 4-Dr Sedan will be $384 cheaper than the price to insure the more costly Accord EX-L 2-Dr Coupe model, as shown in the table below.

Honda Accord Insurance Rates in Rhode Island
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accord LX 4-Dr Sedan $162 $308 $448 $26 $134 $1,078 $90
Accord EX 4-Dr Sedan $162 $308 $448 $26 $134 $1,078 $90
Accord LX-P 4-Dr Sedan $162 $308 $448 $26 $134 $1,078 $90
Accord EX-L 4-Dr Sedan $186 $376 $448 $26 $134 $1,170 $98
Accord EX 2-Dr Coupe $186 $442 $596 $36 $178 $1,438 $120
Accord LX-S 2-Dr Coupe $186 $442 $596 $36 $178 $1,438 $120
Accord EX-L 2-Dr Coupe $210 $442 $596 $36 $178 $1,462 $122
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Price data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Rhode Island minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Price estimates do not factor in vehicle location which can modify rates significantly.

Figuring out which company offers the cheapest auto insurance rates for a Honda Accord requires a tad more effort in order to find the best policy. Every insurance company has their own guidelines for setting rates, so let’s look at the rankings for the most affordable auto insurance companies in Rhode Island.

Cheap Insurance Rates for Your Accord

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Rhode Island car insurance ranked by cost per year
Rank Company Cost Per Year
1 USAA $698
2 State Farm $1,128
3 Travelers $1,259
4 Amica $1,497
5 Progressive $1,544
6 Quincy Mutual $1,643
7 Peerless $1,768
8 National Grange Mutual $2,032
9 GEICO $2,493
10 MetLife $2,554
11 Nationwide $2,653
12 Encompass $2,987
13 California Casualty $3,027
14 Liberty Mutual $3,073
15 Allstate $3,120
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USAA may have some of the cheapest car insurance rates in Rhode Island at around $698 each year. State Farm, Travelers, Amica, and Progressive also qualify as some of the more affordable Rhode Island insurance companies.

In the rate table above, if you are insured with Progressive and switched to State Farm, you could realize a yearly savings of about $416. Policyholders with Quincy Mutual might save as much as $515 a year, and Peerless customers might lower prices by $640 a year.

These policy prices are averages across all ages of drivers and types of vehicles and are not factoring in a specific rating modification for a Honda Accord. So the car insurance company that fits your situation best may not even be included in the above list. That is why you need to compare prices as often as possible using your own personalized driver profile and vehicle information.

Liability-only versus full coverage

Finding cheap insurance for a Honda Accord in Rhode Island is the goal of the majority of vehicle owners, and one of the fastest ways to pay less for insurance is to not buy full coverage. The illustration below illustrates the comparison of auto insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rate quotes are based on no claims or driving violations, $1,000 deductibles, single marital status, and no discounts are factored in.

If all age groups are averaged, full coverage costs an additional $2,268 per year more than just buying liability insurance. Many of you may wonder when is it safe to stop buying full coverage. There is no exact rule of when to stop paying for full coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost minus the deductible, then you might consider buying liability only.

Why you are probably overpaying for Accord insurance

Rhode Island auto insurance rates are calculated based on many things that control the policy price. Getting older, buying a new vehicle, or having a fender bender can produce rate changes resulting in some companies being more affordable than the competition. Additionally, companies modify pricing at least once a year to ensure their profitability. A period of increased losses may result in higher prices, while a lower level of claims can produce more affordable Accord insurance rates.

To help illustrate this point, the bar chart below shows the company with the cheapest car insurance in Rhode Island for a 35-year-old female driver with no accidents or violations, and good financial standing. If we estimate rates based on her current risk profile, USAA may offer the lowest car insurance rates in Rhode Island at $698 each year. This is $1,381 less than the average premium paid by Rhode Island drivers of $2,079. State Farm, Travelers, Amica, and Progressive also make the list of the top five cheapest Rhode Island auto insurance companies.

The chart below compares rates after we give the driver from the above example an accident surcharge, a little lower credit rating, and a traffic citation. Since each auto insurance company has a unique formula for filing rates in each state, getting updated rate quotes may now present a slightly different list of the cheapest Rhode Island car insurance companies as shown below.

USAA now has the best price in Rhode Island with State Farm, Travelers, Peerless, and Amica now rounding out the top five. This example demonstrates why it is critical to spend some time comparing rates when trying to find the most budget-friendly insurance quotes for a Honda Accord.

Car insurance prices are made up of many factors and change substantially, so the cheapest company the last time you shopped around may now be priced much higher than other options.

Ideas for finding more affordable auto insurance for a Honda Accord

It’s not impossible to find cheaper rates, and here are some of the recommended money-saving suggestions that can help drivers locate lower-cost coverage.

  • If your vehicles are older, consider dropping full coverage
  • Drive a car with a high safety rating
  • Drivers with good credit often pay less
  • Raise your physical damage coverage deductibles
  • Accident-free drivers may qualify for discounts
  • Be a cautious driver
  • Compare rates regularly and switch companies to save money

The last suggestion is highly necessary, as we stressed in the article above. Coverage rates in Rhode Island fluctuate constantly, so drivers shouldn’t be reluctant to buy from a different company if a more affordable price is available. Many drivers have brand loyalty and that’s fine, but it’s not recommended if that devotedness results in you overpaying money that could be used for better things. Take a couple minutes and compare rates and find cheaper auto insurance for a Honda Accord.