Saving on Rhode Island Insurance

It may be the smallest state in the nation, but Rhode Island insurance rates are anything but little—in fact, auto insurance in the Ocean State is the 7th highest in the nation, and homeowners insurance is also higher than the national average.

Before you start to worry, keep in mind that there are many ways you can save on your Rhode Island insurance rates. Part of saving is knowing what factors influence your insurance; some of these you can't control, like age or gender, but many of them you can.

Rhode Island Auto Insurance
You can expect to pay around $1038 on average for your auto insurance, which requires $25,000/50,000 for bodily injury liability and $25,000 for property damage. Factors that influence your car insurance rates include:

• Driving record. This is perhaps the biggest factor. A record with dings like an at-fault accident, traffic tickets, or reckless driving convictions will pay significantly more for their insurance as they are considered high-risk drivers. Tickets and accidents usually stay on your record for three years.
• Your car. Cars that are more expensive to repair, such as foreign or luxury vehicles, as well as sports cars or cars that are more likely to be stolen, are more expensive to insure and in some cases can add hundreds to your premium. When car shopping, consider the cost to insure as well.
• Location. Drivers in densely populated areas as opposed to rural areas pay higher premiums, since the risk of accidents increases with more drivers.
• Age/gender/marital status. Statistics show that single male drivers under the age of 25 are more likely to get in an accident than a married female driver in her 30's. If you are male, under 25, or single, your Rhode Island insurance rates tend will probably be higher.

Rhode Island Home Insurance
Homeowners insurance in Rhode Island is approximately $919 a year, more than the national average of $804 annually. Some of the influencing factors include:

• Location. When it comes to real estate, location is everything. It's everything when it comes to insurance as well. Homes in high crime areas or along the coast, where flooding or hurricane activity is present, are more expensive to insure.
• Construction costs. The cost to build in your area, from labor to materials, also influences the cost of your insurance. This can vary widely not only regionally, but statewide as well.
• Materials. If your home is made of brick or stone, which is more resilient to fire and wind damage than wood, your home will be less to insure.
• Age of home. Older homes may be beautiful, but they are also more expensive to insure as a result of older wiring and potentially outdated heating and plumbing systems.

Keeping Your Rhode Island Insurance Rates Down
Despite all of the factors that influence your insurance rates, you can still save a lot of money on your insurance in a number of ways, including:

• Buy from the same company. If you need to insure your car and home or have more than one vehicle, purchasing from the same company will save you money than if you were to buy them separately.
• Increase security. You can save 15-20% on your homeowners insurance by installing safety and fire protection features like burglar alarms, smoke detectors or fire extinguishers, or deadbolt locks.
• Shop around. The best way to save is by shopping around for insurance quotes and then comparing the rates. Localinsurance.com makes this easy for you. With this site, you can research companies and insurance requirements in your area, then get quotes for Rhode Island insurance rates quickly.