Providence drivers pay $235 per month for car insurance on average. Are you paying too much?
The typical Providence driver pays $2,820 per year for auto insurance. That's greater than than the statewide average in Rhode Island ($2,103) and more expensive than the national average of $1,548. Our guide to Providence auto insurance includes average rates based on age, credit score, driving history, and marital status. Read on to learn more!
|Providence Average (per year)||Rhode Island Average||National Average|
One of the best ways to save on auto insurance is to compare rates from multiple companies and to choose the insurer that best fits your coverage needs. For a typical driver, GEICO offers Providence's most affordable premiums. Reference below the top options for affordable insurance in Providence. Don't forget to get car insurance quotes based on your unique driving profile.
|Insurance Company||Average Rate (annual)|
Providence drivers in their 50s enjoy relatively affordable auto insurance rates, paying just $2,624 per year, on average. Those in their 40s don't pay much more ($2,773).
The Providence drivers who face the priciest insurance rates are teenagers. When Providence drivers hit their 20s, their insurance rates drop substantially. The gap in cost between the car insurance premiums paid by teenage drivers and drivers in their 20s in Providence is $7,394. That's the biggest gap in premiums between any pair of age brackets.
|Age tier||Average Annual Rate|
In some cases, a driver's marital status and gender may affect the auto insurance rates they pay. Married drivers usually pay less for car insurance than their single counterparts. In Providence, married motorists pay $198 less than single drivers for auto insurance. Rates for those who are widowed are also much cheaper than rates for those who are single. Interestingly enough, in Providence, widowed drivers pay less than those who are single.
Gender is yet another factor that can affect auto insurance premiums. In Providence, the gap in average auto insurance premiums between genders is $5 per year, with male drivers paying more than female drivers.
|Gender/Marital Status||Average Annual Rate|
No matter where you live, steering clear of accidents and citations is the best way to keep your auto insurance rates affordable. Speeding tickets, reckless driving citations, DUIs and DWIs, and at-fault accidents all can trigger insurance rate hikes.
Providence drivers found guilty of reckless driving pay a steep price when it comes to auto insurance, facing a rate increase of $2,536 per year versus the city average. A ticket for speeding results in an $805 rate hike while a DWI or DUI violation costs $2,571per year in extra insurance expenditures.
|Incident||Average Annual Rate|
|At-fault Accident (damages less than $1,000)||$3,256|
|At-fault Accident (damages > $2,000)||$4,314|
|Speeding Ticket (16-20 mph over speed limit)||$3,625|
In many cases, a driver's credit level is closely correlated with their auto insurance rates. In Providence, an improvement in credit score from the "Very Poor" tier (300-579) to the "Exceptional" tier (800-850) corresponds to a 56% drop in car insurance costs. Moving from "Very Poor" to "Fair" credit is an important step toward saving money on auto insurance. In Providence, improving your credit to "Fair" could help you earn a $1,850 decrease in annual car insurance rates.
|Credit Score||Average Annual Rate|