54 replies to this topic

[urbie]

How do automobile/motorcycle insurance rates in RI compare with MA?

When I moved from MA to Illinois back in '95, I discovered that in IL, I could insure a car, a pickup truck, and two motorcycles for less than the car alone used to cost me in MA.  What's more, you could actually shop around for insurance quotes and find something cheaper, if you didn't like what you were paying.

What's the deal in RI?  Is car insurance ridiculously expensive, as in MA, dirt-cheap, as in IL, or in-between?  Can you shop around, or are premiums set at whatever the insurance commissioner says they should be set at?

While we're at it, what kind of inspection do they subject your car to?  (Here in AZ, they don't.)

Urb

[eltron]

urbie, on Jul 20 2005, 04:45 PM, said:

How do automobile/motorcycle insurance rates in RI compare with MA?

When I moved from MA to Illinois back in '95, I discovered that in IL, I could insure a car, a pickup truck, and two motorcycles for less than the car alone used to cost me in MA.  What's more, you could actually shop around for insurance quotes and find something cheaper, if you didn't like what you were paying.

What's the deal in RI?  Is car insurance ridiculously expensive, as in MA, dirt-cheap, as in IL, or in-between?  Can you shop around, or are premiums set at whatever the insurance commissioner says they should be set at?

While we're at it, what kind of inspection do they subject your car to?  (Here in AZ, they don't.)

Urb

<{POST_SNAPBACK}>

Car insurance is STEEPER in RI than MA, if you can believe it. Moved from Somerville to Providence, spotless record, and my insurance went up almost 20% with the same company (AMICA), and I shopped around alot.

Inspection is comprehensive and expensive, but lasts 2 years.

[urbie]

eltron, on Jul 20 2005, 03:05 PM, said:

Car insurance is STEEPER in RI than MA, if you can believe it. Moved from Somerville to Providence, spotless record, and my insurance went up almost 20% with the same company (AMICA), and I shopped around alot.

Inspection is comprehensive and expensive, but lasts 2 years.

<{POST_SNAPBACK}>

Ack!  And let me guess: a RI license isn't good 'til you're 65 (a la AZ), either.  

Urb

[Garris]

eltron, on Jul 20 2005, 03:05 PM, said:

Car insurance is STEEPER in RI than MA, if you can believe it. Moved from Somerville to Providence, spotless record, and my insurance went up almost 20% with the same company (AMICA), and I shopped around alot.

Inspection is comprehensive and expensive, but lasts 2 years.

<{POST_SNAPBACK}>

Most people who I know that have gone from MA to RI report an increase, but not near the 20% you did...  Mine, from Minnesota (one of the lowest in the US) to RI, went up about 115%...

- Garris

[Recchia]

My old boss lived in Providence but registered his car under his friend's name who lived in Attleboro, and saved a bunch on car insurance.

[MikeR]

urbie, on Jul 20 2005, 03:45 PM, said:

How do automobile/motorcycle insurance rates in RI compare with MA?

When I moved from MA to Illinois back in '95, I discovered that in IL, I could insure a car, a pickup truck, and two motorcycles for less than the car alone used to cost me in MA.  What's more, you could actually shop around for insurance quotes and find something cheaper, if you didn't like what you were paying.

What's the deal in RI?  Is car insurance ridiculously expensive, as in MA, dirt-cheap, as in IL, or in-between?  Can you shop around, or are premiums set at whatever the insurance commissioner says they should be set at?

While we're at it, what kind of inspection do they subject your car to?  (Here in AZ, they don't.)

Urb

Mass. has no-fault legislation regarding auto insurance, RI does not.  When I turn on the tube in the morning to watch the news, I swear there's a half-dozen commercials from law firms urging people to sue if they've been injured in an auto accident.  No wonder the rates are higher!

[KBagley]

My car insurance under my mother's policy in Maine was $800 per year.  When I moved to RI and took out my own policy (but still with my mother's company) it went up to $3200 a year.

When I turned 25, I called them , and they knocked it down to $1600 per year, but I shopped around and went with Progressive which is about $1200 per year, for one car, one driver... and I'm not very good ad budgeting for this expense, but I somehow manage to come up with it by the skin of my teeth when it is due... I need to get a scooter..

[jencoleslaw]

i spent four months in virginia this past summer/fall and my insurance  (full collision, comprehensive etc) was almost cut in half while i was there. I called the insurance company and said "what's the deal?" and the agent said that it isn't that RI drivers are so awful (even though we all know they are) but that the incidence of fraud is so high, that's why our insurance is so out of hand.

[Garris]

jencoleslaw, on Mar 21 2006, 04:34 PM, said:

...that the incidence of fraud is so high, that's why our insurance is so out of hand.

A bit off topic but related, I'm in medicine, and apparently our medical malpractice lawsuits (especially of the frivilous variety) are sky high, far higher than neighboring states.  Apparently, you go from Pawtucket into Attleboro, and the rates of lawsuits plummet...  

I'll have to look up the stats again, but I think the Providence metro per capita is second to only the viciously aggressive Philly area in medical litigation in the Northeast.  

Anyone have any idea why fraud, frivilous lawsuits, etc is so high here?

- Garris

[MikeR]

Garris, on Mar 21 2006, 10:00 PM, said:

A bit off topic but related, I'm in medicine, and apparently our medical malpractice lawsuits (especially of the frivilous variety) are sky high, far higher than neighboring states.  Apparently, you go from Pawtucket into Attleboro, and the rates of lawsuits plummet...  

I'll have to look up the stats again, but I think the Providence metro per capita is second to only the viciously aggressive Philly area in medical litigation in the Northeast.  

Anyone have any idea why fraud, frivilous lawsuits, etc is so high here?

- Garris

Garris - read my post above.  RI does not have "no-fault" leglisation like Mass. does.  How many commercials have you seen for local law firms urging people to sue if they've been injured in an auto accident?  Tell your leglisators you want no-fault leglisation passed!

[dio_mack]

urbie, on Jul 20 2005, 03:45 PM, said:

How do automobile/motorcycle insurance rates in RI compare with MA?

When I moved from MA to Illinois back in '95, I discovered that in IL, I could insure a car, a pickup truck, and two motorcycles for less than the car alone used to cost me in MA.  What's more, you could actually shop around for insurance quotes and find something cheaper, if you didn't like what you were paying.

What's the deal in RI?  Is car insurance ridiculously expensive, as in MA, dirt-cheap, as in IL, or in-between?  Can you shop around, or are premiums set at whatever the insurance commissioner says they should be set at?

While we're at it, what kind of inspection do they subject your car to?  (Here in AZ, they don't.)

Urb

If you havent found car insurance by advice is try to shop for insurance online. I checked on the net found it to be easier to go online when shopping for insurance. The place I went to is http://www.oneshopinsurance.com They were able to give a quote that was acceptable to me in the speediest time. Anyways hope this helps you.

[Jenkins]

dio_mack, on Jun 21 2006, 07:21 PM, said:

If you havent found car insurance by advice is try to shop for insurance online. I checked on the net found it to be easier to go online when shopping for insurance. The place I went to is http://www.oneshopinsurance.com They were able to give a quote that was acceptable to me in the speediest time. Anyways hope this helps you.

You can indeed shop around for car insurance here, however Providence has some of the highest rates in the country, maybe higher than Boston. This is thanks to decades of insurance fraud, I read.

[urbie]

MikeR, on Mar 22 2006, 07:40 AM, said:

Garris - read my post above.  RI does not have "no-fault" leglisation like Mass. does.  How many commercials have you seen for local law firms urging people to sue if they've been injured in an auto accident?  Tell your leglisators you want no-fault leglisation passed!

If no-fault is such a good deal, though, why are MA insurance rates still so astronomical?  They may be lower than RI -- but that's like saying Warren Buffett is poor, compared to Bill Gates.....  

Urb

[runawayjim]

if you can, stick wtih an insurance company for as long as possible... you'll eventually qualify for their special rates for good customers.  i've been given discounts most people can't get from GEICO.  i've had them for 6 or 7 years now and they've been an absolute pleasure to deal with, even through an accident.  my insurance rates went up only after i moved to RI and again only after they went up for all of RI's residents (which sucks).  but after i turned 25 and after i was with them for 5 years, the rates did drop for me.  i assume they'll drop a bit again after i've been with them for 10 years.  my rates are only $50 more per year than a group rate i can get through work with liberty mutual.

[KRC]

Jenkins, on Jun 22 2006, 09:27 AM, said:

You can indeed shop around for car insurance here, however Providence has some of the highest rates in the country, maybe higher than Boston. This is thanks to decades of insurance fraud, I read.

Well, not exactly.  As it turns out, fraud has little to do with it.  Boston does have slightly higher rates that Providence.  Providence average insurance rates are not high because of fraud, but because Providence is the fifth or sixth most densly populated metropolitan area in the country.  A good friend of mine is an actuary for a large insurance company here in RI.  After reading this I had to ask him why last night.  Providence rates are comparable to many other cities with our density.  I guess it's one of those prices you have to pay if you want to live in a densly populated urban area and own a vehicle.  Of course, state regulations also play a huge role in rates, but in the northeast urban corridor the variance between them isn't all that big.

[yossarian]

Quote

I'm in medicine, and apparently our medical malpractice lawsuits (especially of the frivilous variety) are sky high, far higher than neighboring states. Apparently, you go from Pawtucket into Attleboro, and the rates of lawsuits plummet... .

Anyone have any idea why fraud, frivilous lawsuits, etc is so high here?

Garris, part of my practice is in that area of the law (on the defense side).  I would not describe the courts as full of frivolous malpractice suits.  I have come across a few completely meritless medmal cases, but not many.  If you think about the economics of being a plaintiff's lawyer, there is not much incentive to bring a bogus medmal case.  If you do plaintiff's work, you do so on a contigency fee.  You as the attorney get paid only after a settlement or a judgment in your favor.  Expert testimony is required in medical negligence cases.  Experts are expensive, have to be paid upfront, and very few cases settle prior to the plaintiff disclosing his or her expert's opinion.  Futhermore, as you know, doctors have to report settlments to a national databank.  As a result, nuisance value settlements are pretty much unheard of in malpractice cases.  In contrast, an insurance company may pay a couple of grand to make a bogus car accident or slip and fall case go away, even though they could defend it successfully.  

There are some real problems with Rhode Island's civil court system  which drive up malpractice insurance premiums (for example a loophole ridden statute of limitations and 12% prejudgment interest), but I wouldn't put frivolous suits at the top of the list.

[Jerry2]

KRC, on Jun 30 2006, 04:51 AM, said:

Well, not exactly.  As it turns out, fraud has little to do with it.  Boston does have slightly higher rates that Providence.  Providence average insurance rates are not high because of fraud, but because Providence is the fifth or sixth most densly populated metropolitan area in the country.  A good friend of mine is an actuary for a large insurance company here in RI.  After reading this I had to ask him why last night.  Providence rates are comparable to many other cities with our density.  I guess it's one of those prices you have to pay if you want to live in a densly populated urban area and own a vehicle.  Of course, state regulations also play a huge role in rates, but in the northeast urban corridor the variance between them isn't all that big.

Doesn't Providence have one of the highest instances of auto-related crime in all of New England? ( Break-ins, thefts, etc.)

[yossarian]

Jerry02908, on Jun 30 2006, 11:09 AM, said:

Doesn't Providence have one of the highest instances of auto-related crime in all of New England? ( Break-ins, thefts, etc.)

This data is for thefts and is from the National Insurance Crime Bureau..   We do seem to be on the high end.  Though maybe its all New Bedford's fault...  

Massachusetts & Rhode Island
2005 Rank MSA Name                                                 2005 Thefts   2005 Rate
122                 Springfield, MA Metropolitan Statistical Area 2,399      348.71
124 Providence-New Bedford-Fall River, RI-MA 5,623      345.22
176 Boston-Cambridge-Quincy, MA-NH   11,983      270.82
253 Worcester, MA Metropolitan Statistical Area 1,528      196.03
318 Barnstable Town, MA Metropolitan Statistical 258      112.82
336 Pittsfield, MA Metropolitan Statistical Area 125      94.35


Connecticut
2005 Rank       MSA Name                                                         2005 Thefts      2005 Rate
111              New Haven-Milford, CT                                                3,125            369.52
143              Hartford-West Hartford-East Hartford, CT                      3,768            318.09
214             Bridgeport-Stamford-Norwalk, CT                                  2,115            234.14
302              Norwich-New London, CT Metropolitan Statistical Area       364             136.60

[Jerry2]

yossarian, on Jun 30 2006, 12:44 PM, said:

This data is for thefts and is from the National Insurance Crime Bureau..   We do seem to be on the high end.  Though maybe its all New Bedford's fault...  

Massachusetts & Rhode Island
2005 Rank MSA Name                                                 2005 Thefts   2005 Rate
122                 Springfield, MA Metropolitan Statistical Area 2,399      348.71
124 Providence-New Bedford-Fall River, RI-MA 5,623      345.22
176 Boston-Cambridge-Quincy, MA-NH   11,983      270.82
253 Worcester, MA Metropolitan Statistical Area 1,528      196.03
318 Barnstable Town, MA Metropolitan Statistical 258      112.82
336 Pittsfield, MA Metropolitan Statistical Area 125      94.35
Connecticut
2005 Rank       MSA Name                                                         2005 Thefts      2005 Rate
111              New Haven-Milford, CT                                                3,125            369.52
143              Hartford-West Hartford-East Hartford, CT                      3,768            318.09
214             Bridgeport-Stamford-Norwalk, CT                                  2,115            234.14
302              Norwich-New London, CT Metropolitan Statistical Area       364             136.60

On the high end? It's almost double every other metro region in NE with the exception of Bosto. I would consider that to have a major impact on rates. It's insane. I pay more in insurance living in Providence than I do for my car note. ( no violations, no reported accidents(only people hitting me) and I'm over 25.

[jencoleslaw]

when i lived in Virginia for a few months my insurance was cut in HALF.  I asked why (because frankly those DC metro drivers are NUTS) and i was told (by my geico lady) that it was because of high incidences of fraud in RI that keep the rates artificially high.