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Based on an analysis by Insure.com, the typical car insurance expense in Warwick, Rhode Island is $2,121 annually. Furthermore, car insurance premiums in Warwick are $60 more than compared to the state average in Rhode Island and $226 more than the national average.
| City average rates | State average rates | National average cost |
|---|---|---|
| $2,121 | $2,061 | $1,895 |
Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.
This article looks at the most affordable car insurance companies in Warwick, the average car insurance rates by age and gender, and the costs in Warwick based on coverage limits.
Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Warwick. Keep reading to learn more.
Key Takeaways
- The annual cost of car insurance in Warwick, Rhode Island is $2,121.
- State Farm provides the most affordable car insurance in Warwick at $1,517 annually.
- Young adults in Warwick can expect to pay approximately $3,606 annually for car insurance.
Cheap car insurance companies in Warwick
State Farm offers the cheapest car insurance in Warwick, at an average of $1,517 per year with full coverage limits of 100/300/100.
The second cheapest company in Warwick is Progressive, offering car insurance rates at $1,788 per year.
As mentioned earlier, car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in Warwick before deciding on the policy that matches your requirements.
The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Warwick, Rhode Island:
Affordable car insurance providers in Warwick
| Company Name | Average annual cost | Average monthly cost |
|---|---|---|
| State Farm | $1,517 | $126 |
| Progressive | $1,788 | $149 |
| Nationwide | $1,805 | $150 |
| American Family | $1,928 | $161 |
| Travelers | $2,014 | $168 |
| Amica | $2,209 | $184 |
| GEICO | $2,244 | $187 |
| Allstate | $3,169 | $264 |
| Farmers | $3,365 | $280 |
| USAA | $1,178 | $98 |
Read about the best car insurance companies.
Average car insurance cost in Warwick by coverage limits
The average car insurance rates in Warwick based on coverage types are as follows:
- State minimum coverage: $709 per year (limits are 25/50/25)
- Liability only coverage: $873 per year (limits are 50/100/50)
- Full coverage: $2,121 per year (limits are 100/300/100)
- Non-owners coverage: $529 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 Warwick
Based on an analysis by Insure.com, female drivers in Warwick, Rhode Island pay an average annual car insurance premium of $2,111. In comparison, male drivers pay $2,132 annually, which is $21 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 Warwick
In Warwick, car insurance rates are highest for teens, averaging $7,572 per year or $631 per month. According to the Insurance Information Institute, these higher rates for 16- to 19-year-olds are due to their increased likelihood of road accidents due to their lack of driving experience.
Specific teen driving laws have been implemented to help them become better drivers. Additionally, parents can lower teen insurance rates by adding them to their existing auto insurance policy.
As teens grow older and build a positive driving history, their car insurance rates decrease. Young adults usually pay $3,606 annually for their car insurance, which is $3,966 less than what teens pay for their coverage.
In Warwick, adult drivers pay an average of $2,133 per year for car insurance, while senior drivers pay $2,256 annually.
According to the Insurance Information Institute, rates for adults and seniors are significantly lower than for teens and young adults, as they are more likely to obey speed limits and follow road rules.
Read more on auto insurance for seniors.
The table below lists the average annual rates for drivers of different age groups:
Car insurance rates by age groups in Warwick
| 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) |
|---|---|---|---|
| $7,572 | $3,606 | $2,133 | $2,256 |
Car insurance rate trends in Warwick
Examining car insurance rate trends in Warwick, 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 13% or $240.
The table below shows the trend for last four years:
How car insurance rates are changing in Warwick
| 2016 rates | 2019 rates | 2022 rates | 2023 rates |
|---|---|---|---|
| $1,780 | $2,132 | $1,881 | $2,121 |
Conclusion
In conclusion, the insurance rates in Warwick, are higher than the average insurance cost in Rhode Island. Shopping around and taking advantage of available discounts, drivers in Warwick can find affordable car insurance options. Many car insurance companies offer discounts for customers who purchase multiple policies through the same company.
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.
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