Car Insurance

Other than buying a home, a car is the most expensive purchase that most of us will make in our lifetime.  It is necessary to protect such an investment with an insurance policy you can count on.

A car insurance policy can vary significantly both in price and the amount of coverage offered.  It is necessary to work with an agent who can help you find a policy that will fit your budget while meeting your needs.    Our OceanPoint agents will get to know you and will take the time to find the best auto coverage for you.  At OceanPoint, we work closely with our partner companies and will select the policy that is right for you!

What Does Car Insurance Cover?

Liability Insurance:  If you are responsible for an accident, your liability insurance will cover the costs of injuries and property damage related to the accident.

Collision:  When your car is damaged in an accident, collision insurance will cover the cost of repair to your vehicle.  Collision insurance also covers replacement if deemed necessary.

Comprehensive: This covers damage to your vehicle caused by incidents other than collisions such as break-ins or weather events.

There are optional car insurance coverages available such as:

Medical Payments: this covers medical and funeral expenses for you and other parties involved in an accident. Medical expenses will be paid out even if you are at fault for the accident.

Rental Reimbursement: after an accident, it is quite likely that your car will need to be repaired.   During the time that your car is being repaired, you will be reimbursed for rental car usage. The amount per-diem reimbursement will vary from company to company.

Towing and Labor: after an accident, your car may be in an undrivable condition and may need the use of a towing service. The amount of coverage will vary from company to company.

How Is Your Insurance Rate Calculated?

Every insurance company has their method of calculating the cost of a car insurance policy, but most companies will ask the following questions to determine your rate:

What Is Your Driving Record?
If you have had any traffic violations or accidents in the prior three years, you will be subject to higher rates than drivers with a clean driving record during the same period.

What Is Your Driving Territory?
Where you garage your car and do most of your driving, will affect your rate. If you do most of your driving in urban Providence, you will be subject to higher insurance rates that rural areas such as Exeter.

Your Gender And Age?
Typically, males have more accidents than females, and specific age groups have a much higher risk of accidents than other age-groups.

What Is Your Marital Status?
Those who are married have a lower insurance claim rate than those who are not married.

Your Prior Insurance Coverage?
If you are changing car insurance companies, the new company will want to know about your relationship with the previous insurance company

Use Of Your Vehicle?
How often and how far you drive is taken into consideration when setting your insurance rate.  The more often you drive, the higher the risk of an accident.

What Type Of Coverage And Liability Options?
The greater the coverage, the greater the price.

Make And Model Of Your Vehicle?
Certain types of cars have a greater insurance claim history than others.  These cars will be assessed a higher priced premium. Additionally, a new car will have a higher insured value than an older model car.

What Is Your Credit Score?
The insurance companies may use your credit history for premium rating purposes, in accordance with Rhode Island state Laws. Insurance claims statistics show relationships between credit history and claim frequency.

An OceanPoint Insurance agent will help you navigate the complexity of the car insurance underwriting process to select the best policy for you and your budget.   But, we are not finished yet! We need to determine whether or not you are entitled to a discount!

Do I Qualify For A Discounted Rate?

Insurance companies offer a variety of discounts, and you may qualify for one, or more of these discounted rates:

• Multi-Vehicle Policy:  A discount offered for multiple vehicles on the same policy.
• Drivers Education Courses:This discount is an offer for younger and older drivers that have completed a drivers education course.
• Good Student: Students with good grades, B or higher, statistically have fewer claims.
• Safety Devices: Certain safety devices can assist in the prevention of accidents and the severity of the accidents.
• Low Mileage: Statistics show that the fewer miles you drive, the lower your risk of an accident.
• Good driver/Renewal Discount: Drivers who have a good driving record and who renew their car insurance policies may be entitled to a discount.
• Bundled Auto/Home Package: Many insurers offer discounts for purchasing both home and car insurance as a bundle.
• Anti-theft devices: Installation of devices which deter theft (or vandalism) may qualify for discounts.

As you can see, navigating car insurance is incredibly complex with many moving parts.   An  OceanPoint Insurance agent will work closely with you and guide you through this complicated process to select the best policy, at competitive rates, for your vehicle and budget.  Contact our team and get the coverage you can count on!