Rhode Island Car Insurance Laws

Rhode Island with blue background
Due to the fact that Rhode Island follows a tort system, resident motorists must be able to prove financial responsibility in the event of an at-fault accident. Residents who choose to satisfy this requirement by obtaining an automobile policy must liability insurance with specific minimum limits. Drivers must have a policy that contains at least $25,000 for bodily injury to a single person, $50,000 for bodily injury per accident, and property damage liability of $25,000 per accident.

In addition, residents must purchase a policy that also contains Uninsured/Underinsured Motorist coverage with a limit of $25,000 per person and $50,000 per accident. This form of vehicle protection is in place to cover injuries sustained if struck by a driver that is uninsured, or has an inadequate amount of coverage and may not meet the value of a claim. It’s important to note that this also includes bodily injuries as well as property damage, but property damage may be subject to a $200 deductible. Drivers should also note that this form of protection may be declined by a motorist as long as all other requirements and limits are met.

Even though all of the Ocean State’s estimated 746,032 licensed drivers are required to meet the same minimum financial responsibility requirements, motorists are likely to find varying prices when shopping for Rhode Island auto insurance for numerous reasons. Coverage providers typically take multiple elements into consideration when determining an individual’s policy price, and for this reason it’s not uncommon to find multiple policies with different prices that also offer the same amount of protection. Of the qualities that insurers commonly examine, the most common elements are a person’s age, gender, location, garaging address, marital status, vehicle make and model, driving habits, and even credit score.

Such characteristics and personal details are typically considered because each of these details (as well as others) is generally helpful in determining a Rhode Islander’s risk factor. Drivers that are considered to have a greater chance of filing claims in the future may only be able to obtain high risk car insurance or may have to partake in Rhode Island’s Assigned Risk Pool. This system helps motorists that have a difficult time finding coverage for various reasons, which includes being considered a greater risk to insure. Motorists in the pool are generally assigned a coverage provider, but may be “taken out” of the pool for having a satisfactory driving record for a period of three years. Even though such a system exists, residents are encouraged to shop for coverage and explore numerous providers because in most cases it is commonly considerably cheaper to find a policy than to be assigned one through the state..