Who Has the Cheapest Insurance for a Chevrolet Equinox in Rhode Island?
Enter your Rhode Island zip code below to view companies that have cheap auto insurance rates.
UPDATED: Nov 15, 2019
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Our editors always tell us that when writing about car insurance, the words “affordable” or “cheap” should never be used anywhere in the article to describe car insurance prices. Regardless, cheap auto insurance for a Chevrolet Equinox may be a thing of the past. Don’t let that bother you, though, because we can show you some ways you can find auto insurance that fits into your budget.
Your chances of finding the cheapest auto insurance for a Chevrolet Equinox in Rhode Island hinges on an enormous amount of rating factors such as whether you are male or female, whether you are claim-free, and the level of deductible you choose. Drivers in Rhode Island will pay on average $1,120 a year to insure their Equinox, but that is an approximation using rate data for a 30-year-old married male that purchased full coverage and $500 deductibles.
The problem with using this number is the good chance you are not 30 years old and maybe not even male, possibly single instead of married, or maybe you prefer liability limits higher than required by Rhode Island state law. Insurance is an individual thing, so the best way to quote cheap car insurance rates for your Chevrolet is to just take the time to compare rates yourself.
The trim level of your Chevrolet will be a contributing factor to the cost of insurance, so the cost to insure a Equinox LS 2WD trim level will be $110 cheaper than the price to insure the high end Equinox LTZ AWD trim level, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$254||$426||$406||$24||$122||$1,232||$103|
|Equinox LT 2WD||$254||$426||$406||$24||$122||$1,232||$103|
|Equinox LS AWD||$254||$426||$406||$24||$122||$1,232||$103|
|Equinox LT AWD||$254||$426||$406||$24||$122||$1,232||$103|
|Equinox LTZ 2WD||$288||$502||$406||$24||$122||$1,342||$112|
|Equinox LTZ AWD||$288||$502||$406||$24||$122||$1,342||$112|
|Equinox LTZ AWD||$288||$502||$406||$24||$122||$1,342||$112|
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Rhode Island minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Estimates do not factor in specific Rhode Island garaging location which can revise coverage prices considerably.
Comparing quotes for low-cost auto insurance is not easy, and figuring out which company quotes the best auto insurance rates for a Chevrolet Equinox takes even more rate comparisons. Each insurer uses their own calculation to set premium rates, so we need to take a look at the auto insurance companies that tend to have lower prices in Rhode Island.
We do need to point out that Rhode Island auto insurance rates are impacted by many things which can substantially decrease or increase the price of your policy. Simply improving your credit, increasing liability limits, or getting a DUI can trigger rate changes resulting in some rates now being higher-priced than before.
USAA may have some of the best car insurance rates in Rhode Island at around $719 per year. State Farm, Travelers, Progressive, and Amica are also some of the lowest-priced Rhode Island auto insurance companies.
As depicted above, if you currently buy coverage from Progressive and switched to USAA, you might achieve annual savings of about $780. Insureds with Amica might save as much as $793 a year, and Quincy Mutual insureds might cut rates by $924 a year.
These rates are averages for all types of insureds and vehicles and are not factoring in a specific rate value for a Chevrolet Equinox. So the car insurance company that can offer you the best price may not even be included in the list above. That illustrates why you need to compare as many prices as possible using your own specific driver information and vehicle.
Enter your zip code below to view companies that have cheap auto insurance rates.
Liability-only versus full coverage
Finding the cheapest insurance for a Chevrolet Equinox in Rhode Island is important to most drivers, and one good way to find cheaper insurance is to only pay for liability coverage. The illustration below visualizes the comparison of insurance prices with and without physical damage coverage. The premiums assume no claims, a clean driving record, $500 deductibles, drivers are not married, and no policy discounts are applied.
On average, comp and collision coverage costs an extra $2,259 per year more than just buying liability only. Many drivers will wonder if buying full coverage is worth the money. There isn’t a written rule to stop buying full coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is about 10% or more of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
There are some situations where dropping full coverage is not financially feasible. If you still have a loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.
The illustration below demonstrates how choosing different deductibles can influence insurance costs when researching cheap insurance for a Chevrolet Equinox. The rate quotes are based on a married male driver, full physical damage coverage, and no discounts are applied to the premium.
In the chart above, a 30-year-old driver could lower their car insurance rates by $374 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $568 by changing to a $1,000 deductible. Even younger drivers, like the Age 20 chart data, could possibly save $1,128 or even more by choosing a higher deductible. When using a larger deductible, it’s a good idea to have additional funds squirreled away to enable you to pay the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Which car insurance company is best?
When researching car insurance, some of the largest companies to start with are State Farm, Geico, Progressive, and Allstate. All four offer physical damage and liability coverage, but each has different optional coverages and features that may influence your buying decision. The table below compares pricing and service ratings, as well as optional policy coverages shoppers can find with each company.
|Amount of market share||18.3%||11.4%||8.8%||10%|
|Percent of customers who recommend||88%||87%||88%||86%|
|A.M. Best rating||A++||A++||A+||A+|
|New car replacement||No||No||No||Yes|
|Rating based on usage||Yes||No||Yes||Yes|
|Offered in Rhode Island||Yes||Yes||Yes||Yes|
|Where to buy||Only from State Farm agents||Online or through a Geico agent||Indpendent agents or online||Only buy from Allstate agents|
|Number of agents||18,000+||150+||30,000+||11,000+|
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How to find low-cost car insurance for a Chevrolet Equinox
The list below shows some of the recommended penny-pinching solutions that can help drivers locate low-cost auto insurance.
- Buy vehicles with good safety ratings
- Accidents can significantly increase rates
- Remove physical damage coverage on older vehicles
- Pay lower rates with good credit
- Speeding tickets and other violations increase rates
- Raise deductibles to save money
- Compare prices as often as possible
The last idea is particularly significant, as was pointed out in this article. Car insurance rates in Rhode Island change frequently, so don’t be unwilling to switch to a new company if a better deal can be had. Being loyal to a particular company is commendable, but it’s not a good idea if that dedication is costing a small fortune year after year. It takes less than five minutes to shop around to find cheaper car insurance for a Chevrolet Equinox.
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