Best Cheap Auto Insurance Quotes for Low Income Drivers in Rhode Island

The safety and performance level of the vehicle on the policy is one of the primary factors when quoting the best cheap auto insurance for low income drivers in Rhode Island. Vehicles with lower performance, good safety features, or a low likelihood of liability claims will cost quite a bit less to insure than high performance models. The data below outlines coverage prices for a number of the most budget-friendly automobiles to insure.

Cost estimates assume single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Rhode Island minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Rate quotes do not factor in Rhode Island location which can lower or raise auto insurance rates significantly.

Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Rhode Island minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Table data does not factor in specific location information which can revise insurance rates considerably.

Data variables include single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Rhode Island minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Information does not factor in your specific Rhode Island location which can influence prices noticeably.

One of the many considerations that auto insurance companies use to determine the amount you pay for auto insurance is where you normally keep your vehicle. Areas that are densely populated or have higher claim frequency like Providence, Pawtucket, and East Providence tend to have more expensive car insurance rates, whereas areas with less traffic congestion and claims benefit from having to pay less for coverage.

The information below displays the most costly cities in Rhode Island for low income drivers in which to purchase auto insurance.

Rates are comparative as the specific garaging location can revise coverage rates noticeably.

Determining which company has the cheapest insurance rates for low income drivers takes a little more work in order to find the best price.

Each company has a proprietary formula to determine rates, so we need to take a look at the insurance companies that tend to be cheaper in Rhode Island.

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USAA may offer some of the most affordable car insurance rates in Rhode Island at around $719 annually. State Farm, Travelers, Amica, and Progressive would also be considered some of the best Rhode Island insurance companies.

In the above rates, if you are currently insured with Progressive and switched to State Farm, you could see an annual premium reduction of around $356. Customers with Quincy Mutual could save as much as $515 a year, and Peerless customers might reduce prices by as much as $605 a year.

To get a fast rate comparison, click here to start a quote or click several companies below for low rates.

It’s important to note that these policy rates are averages across all drivers and vehicles and do not factor in a price discount for low income drivers. So the company that fits your needs best may not even be included in the above rate chart. That is why you need to get rate quotes from many companies using your own specific driver information and vehicle.

Accidents and violations increase rates

In a perfect world, the best way to receive the most affordable insurance premiums in Rhode Island for poor drivers is to drive carefully and not receive tickets or have accidents. The diagram below demonstrates how citations and at-fault claims increase yearly insurance costs for each age group. The rate quotes are based on a single male driver, full coverage, $250 deductibles, and no policy discounts are applied.

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The data above shows the average cost of a car insurance policy in Rhode Island per year with a clean driving record and no accidents is $2,127. Factor in two speeding tickets and the average cost rises to $2,818, an increase of $691 each year. Next add two accidents along with the two speeding tickets and the yearly cost of insurance for low income drivers goes up to an average of $5,367. That’s an increase of $3,240, or $270 per month, just for not driving safely!

Do you need full coverage?

Finding the best cheap auto insurance for low income drivers in Rhode Island is probably important to the majority of vehicle owners, and one easy way to find cheaper insurance is to not insure for full coverage. The example below visualizes the comparison of insurance prices with full physical damage coverage compared to only buying liability only. The prices are based on a clean driving record, no claims, $100 deductibles, single status, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $100 Deductibles’, ‘Liability Only’],[‘Age 20’, 4453,1225],[‘Age 30’, 2291,673],[‘Age 40’, 2285,623],[‘Age 50’, 2071,583],[‘Age 60’, 1999,573],[‘Age 70’, 2409,767]]);var options = {title: ‘Savings of Only Insuring for Liability’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Rhode Island’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If averaged for all ages, comp and collision coverage costs $2,585 per year more than insuring for liability only. That may make you wonder when is it safe to stop buying full coverage. There isn’t a written rule for eliminating physical damage insurance, but there is a general guideline. If the annual cost of your full coverage insurance is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to buy liability only.

There are some circumstances where only buying liability is not in your best interest. If you still owe a portion of the original loan, you have to maintain full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should not consider dropping full coverage.

How to find the best cheap auto insurance for low income drivers in Rhode Island

It’s not impossible to find cheaper rates, and here are some of the better thrifty solutions that can help you find low-cost coverage.

• Speeding tickets and other violations increase rates
• Better credit rating means better rates
• Raise deductibles
• Lower rates by purchasing a safer vehicle
• At-fault accidents can raise rates significantly
• Ensure you have the best deal by shopping around regularly

The final tip is notably critical, as we noted in the article above. Car insurance rates vary considerably, so don’t be hesitant to buy from a new company if you can save money. Having a favorite company is great, but we do not recommend it if that dedication is costing a fortune every year. Now is a great time to compare rates and find cheaper auto insurance for low income drivers.

Cheap insurance quotes for poor drivers

There are a variety of different ways to purchase insurance in Rhode Island, but the most common are through a captive (or exclusive) agency like Auto-Owners or State Farm, an independent agent, or buying direct from a company like Progressive or Geico.

They all have the same end result, but they differ in how they price policies.

Independent agents write for multiple companies and can get policy pricing from each one. Agents of this type possess the freedom to provide you with more rates, which can help you get a better chance of saving money. If premiums increase, it’s easy for the agent to move the policy which is easy for the insured.

A captive, or exclusive, agent is only able to write business for a single insurance company, two of the more popular are a State Farm or Allstate agent. These agents are unable to provide multiple price quotes, so if finding the cheapest insurance is your goal, you will want to shop around.

Drivers who opt to buy insurance direct do not use an independent or exclusive agent and instead buy from a direct company like Progressive or Geico. This option can be a good choice for families who do not need risk management and understand what limits they need.

Out of those three methods, which one works best to find the best cheap auto insurance for low income drivers in Rhode Island? We would first guess that buying from a direct company results in the cheapest price because there are no middleman commissions, but in reality, that is not true. It would also be easy to say using an independent agent guarantees the lowest rates because they can quote many companies, but that assumption is also not necessarily accurate. And sometimes, the exclusive agents have very competitive rates that are well below what direct and independents offer.

Because there is so much variation in insurance prices, the best method to get the lowest rate is to compare, compare, and compare some more. To find the best rates, be sure to get price quotes all three ways to give yourself plenty of rates to compare. We compiled a list of companies with some of the cheapest online rates that you can click here to view.