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The average car insurance cost in Providence, Rhode Island is $2,495 per year, according to Insure.com data. This is $434 more than the average auto insurance cost in Rhode Island and $600 more than the national average, as analyzed by Insure.com.
City average rates | State average rates | National average cost |
---|---|---|
$2,495 | $2,061 | $1,895 |
The rates can vary wildly depending on where they are filed. City demographics, including population density and average resident age, will affect how much money you spend on premiums which could make it cheaper or more expensive than other areas with different factors like accident rates, theft and vandalism rates, etc.
The article covers information on – the cheapest car insurance providers in Providence, the average car insurance rates by age, gender and how much is car insurance in Providence based on coverage limits. Whether you’re a new driver or have been driving for years, this article can help you find the best deal on cheap car insurance in Providence. Read on to learn more.
Key Takeaways
- The average car insurance cost in Providence, Rhode Island is $2,495 per year.
- State Farm offers the cheapest car insurance in Providence, at an average of $1,611 per year.
- Young adults pay $3,950 per year for car insurance in Providence.
Cheap car insurance companies in Providence
State Farm provides the best value for car insurance in Providence with coverage limits of 100/300/100, costing $1,611 annually.
A close second is Progressive, which offers car insurance at $2,455 per year.
Affordable car insurance providers in Providence
Company Name | Average annual cost | Average monthly cost |
---|---|---|
State Farm | $1,611 | $134 |
Progressive | $2,455 | $205 |
Nationwide | $2,477 | $206 |
Travelers | $2,587 | $216 |
American Family | $2,629 | $219 |
Amica | $2,992 | $249 |
Geico | $3,094 | $258 |
Allstate | $3,951 | $329 |
USAA | $1,388 | $116 |
Read about the best car insurance companies.
Average car insurance cost in Providence by coverage limits
The average car insurance rates in Providence based on coverage types are as follows:
- State minimum coverage: $819 per year (limits are 25/50/25)
- Liability only coverage: $1,020 per year (limits are 50/100/50)
- Full coverage: $2,495 per year (limits are 100/300/100)
- Non-owners coverage: $571 per year
In many states, it’s a legal requirement for drivers to maintain the state minimum coverage, although these requirements vary by state. The state minimum coverage does not cover vehicles listed on your policy in an at-fault accident.
To avoid the risk of insufficient coverage and out-of-pocket expenses, it’s advisable to opt for full coverage or non-owner coverage, especially if you frequently borrow or rent vehicles and don’t own one yourself.
Average car insurance rates by gender in Providence
Based on an analysis by Insure.com, female drivers in Providence, Rhode Island pay an average annual car insurance premium of $2,473. In comparison, male drivers pay $2,517 annually, which is $44 more than what female drivers pay.
According to the Insurance Information Institute, statistics indicate that women are generally considered safer drivers than men. Also, women pay less for car insurance due to the lower rate of severe accidents.
Read more on how gender affects car insurance rates.
Average car insurance rates by age in Providence
Car insurance rates in Providence, are highest for teens at $8,239 per year or $687 per month. According to the Insurance Information Institute, the rates are higher for teens (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road. To address this, there are specific driving laws for teens to help them drive better. Additionally, parents can potentially reduce teen insurance rates by adding them to their existing auto insurance policy.
As teens age and build a positive driving history, it’s common for car insurance rates to decline. Young adults typically pay $3,950 annually for their car insurance, which is $4,289 less than what teens pay for their insurance coverage.
In Providence, adult drivers pay an average of $2,537 per year for car insurance, while senior drivers pay $2,607 annually.
The rates for adults and seniors are notably lower compared to the rates for teens and young adults as they are more likely to obey the speed limits and follow the rules of the road, as per the Insurance Information Institute.
Read more on auto insurance for seniors.
The table below depicts the average annual rates for drivers of different age groups:
Car insurance rates by age groups in Providence
Teens (16- to 19-year-olds) | Young adults (20- to 24-year-olds) | Adults (25- to 55-year-olds) | Seniors (60- to 75-year-olds) |
---|---|---|---|
$8,239 | $3,950 | $2,537 | $2,607 |
Car insurance rate trends in Providence
Examining car insurance rate trends in Providence, Rhode Island, we observe a upward trend from 2022 to 2023. Subsequently, from 2022 to 2023, the rates experienced increase overall, with an increase of 1% or $19.
The table below shows the trend for last four years:
How car insurance rates are changing in Providence
2016 rates | 2019 rates | 2022 rates | 2023 rates |
---|---|---|---|
$2,379 | $2,624 | $2,476 | $2,495 |
Conclusion
Car insurance rates in Providence are higher than the average rates in Rhode Island. Drivers in Providence can secure affordable car insurance by shopping around and utilizing available discounts. Additionally, many insurance companies offer bundling discounts for customers who purchase multiple policies from the same provider.
Sources
- Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
- Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
- Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.
Methodology
Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.
The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:
- $100,000 bodily injury per person
- $300,000 bodily injury per accident
- $100,000 property damage per accident
- $500 comprehensive and collision deductible
The quoted insurance rates are for comparison purposes, and your individual rates may vary.