Sick and tired of scraping the payment together to insure your vehicles every month? You are in the same boat as many other Rhode Island drivers.
With so many insurance companies to choose from, it can be impossible to pick the most affordable insurer.
You should take the time to compare prices before your policy renews due to the fact that insurance rates change quite often. Just because you found the lowest price on your last policy other companies may now be cheaper. Starting now, block out anything you think you know about auto insurance because you’re about to learn one of the best ways to save money, get proper coverage and the best rates.
Choosing the best insurance company for you in Bristol is quite easy. Essentially anyone who carries auto insurance most likely will be able to find lower rates. Although Rhode Island vehicle owners can benefit by having an understanding of how big insurance companies sell insurance online.
Why you might pay higher rates in Bristol
Smart consumers have a good feel for the factors that go into determining the rates you pay for auto insurance. Having a good understanding of what controls the rates you pay empowers consumers to make smart changes that could result in big savings.
- Proper usage rating affects rates – The more you drive each year the higher your rate. The majority of insurers apply a rate based on how the vehicle is used. Autos not used for work or commuting get more affordable rates than vehicles that are driven to work every day. Ask your agent if your auto insurance policy shows the correct driver usage.
- Having a spouse can save you money – Having a spouse can actually save you money on auto insurance. It usually means you are more responsible it has been statistically shown that drivers who are married are more cautious.
- Multi-policy discounts can save money – The majority of insurance companies will give a discount to insureds who consolidate policies with them, otherwise known as a multi-policy discount. If you currently are using one company, it’s in your best interest to compare rates to confirm you are receiving the best rates possible.
- Performance makes a difference – The performance level of the car you own makes a big difference in determining your rates. The most favorable rates are generally reserved for low performance passenger models, but the cost you end up paying is determined by many additional factors.
- Lower rates come with age – Mature drivers are viewed as being more responsible, statistically cause fewer accidents and receive fewer citations. Teenage drivers are known to be less responsible in a vehicle and because of this, their auto insurance rates are much higher.
- More people means more accidents – Being located in small towns and rural areas can be a good thing when insuring your vehicles. Lower population means fewer accidents. Drivers who live in large Rhode Island cities regularly have much more traffic to deal with and much longer commute distances. Higher commute times can result in more accidents.
- Your occupation can affect rates – Did you know your auto insurance rates can be affected by your occupation? Occupations like lawyers, executives and stock brokers have the highest rates due to high stress and long work hours. On the other hand, occupations like scientists, students and homemakers get better rates.
- An active claims history can cost you – Insurance companies in Rhode Island generally give lower rates to policyholders who are claim-free. If you tend to file frequent claims, you can expect either higher rates or even cancellation. Your insurance policy is designed for the bigger claims that can’t be paid out-of-pocket.
Discounts are available to cut your rates
Companies offering auto insurance do not advertise all their discounts in an easy-to-find place, so we took the time to find both the well known and also the lesser-known discounts you could be receiving.<img class="alignright" style="padding-top:15px" src="https://www.carinsurancediy.com/wp-content/uploads/ci175-87.jpg" alt="lower rates in Bristol RI” />
- Homeowners Discount – Being a homeowner can save you money because maintaining a house shows financial diligence.
- Resident Student – Youth drivers who live away from home without a vehicle on campus can be insured at a reduced rate.
- Braking Control Discount – Vehicles with anti-lock braking systems can avoid accidents and therefore earn up to a 10% discount.
- Auto/Life Discount – Some companies give a break if you buy auto and life insurance together.
- Safe Drivers – Insureds without accidents may receive a discount up to 45% less than less cautious drivers.
- Multi-car Discount – Having more than one vehicle on the same auto insurance policy can get a discount on all vehicles.
- Service Members Pay Less – Having a deployed family member may qualify for rate reductions.
Keep in mind that many deductions do not apply to your bottom line cost. Most only apply to the cost of specific coverages such as liability and collision coverage. So even though it sounds like having all the discounts means you get insurance for free, auto insurance companies aren’t that generous.
For a list of insurance companies who offer auto insurance discounts in Bristol, click here.
Ads can be misleading
Companies like 21st Century, Allstate and State Farm constantly bombard you with television and radio advertisements. All the ads make the same claim of big savings if you switch to their company. How can each company claim to save you money?
Insurance companies can use profiling for the driver they prefer to insure. A good example of a driver they prefer could be over the age of 40, a clean driving record, and drives less than 10,000 miles a year. A driver who matches those parameters receives the best rates and as a result will probably save a lot of money.
Drivers who don’t meet the requirements must pay higher premiums and this can result in the customer not buying. The ads say “customers that switch” not “everybody who quotes” save that much money. That’s the way companies can advertise the way they do. This illustrates why it’s extremely important to get as many quotes as possible. It’s not possible to predict which auto insurance company will give you the biggest savings.
Everyone needs different coverages
When it comes to buying adequate coverage for your vehicles, there is no “best” method to buy coverage. Every situation is different so your insurance should reflect that These are some specific questions can aid in determining whether your personal situation will benefit from professional help.
- Should I buy additional glass protection?
- Is Rhode Island a no-fault state?
- What is the difference between comprehensive and collision coverage?
- Do I have coverage when pulling a U-Haul trailer?
- Which companies will insure high-risk drivers?
- Will I lose any money if I cancel my policy before it expires?
- Does my insurance cover damage caused when ticketed for reckless driving?
- How can I get high-risk coverage after a DUI?
If you’re not sure about those questions but a few of them apply, you might consider talking to a licensed agent. If you don’t have a local agent, take a second and complete this form or you can also visit this page to select a carrier
More tips and info about auto insurance can be found at the Rhode Island Division of Insurance Regulation website. Consumers can learn about specific coverages, learn about insurance regulations, and find a variety of consumer forms.
When trying to cut insurance costs, you should never reduce needed coverages to save money. In too many instances, someone sacrificed physical damage coverage only to regret that it was a big mistake. The aim is to find the BEST coverage at an affordable rate while not skimping on critical coverages.
Cheap auto insurance can be bought on the web and with local Bristol insurance agents, and you need to comparison shop both to have the best chance of lowering rates. Some insurance providers do not offer online quoting and usually these smaller companies provide coverage only through local independent agents.