Auto Insurance in Cranston , RI

Auto insurance is crucial for safeguarding your finances in case of an accident or other damage. Rhode Island drivers responsible for an accident usually must pay for resulting damages. Without insurance, you may face fines or suspension of your license and registration.

What Is a Deductible for Auto Insurance?

A deductible represents your initial financial responsibility when filing an insurance claim; it’s the portion you must pay before your insurance company covers the remaining cost of a claim. While you’ll find deductibles on collision and comprehensive coverage (which protect your own vehicle), they don’t apply to liability insurance (which covers damage you cause to others).

How Does a Deductible Work?

When you file a claim for covered damage, your insurer subtracts the deductible from the total repair or replacement cost before issuing payment. For example, if repairs cost $2,500 and your deductible is $500, you will pay $500, and your insurance company may cover the remaining $2,000.

In Rhode Island, auto insurance deductibles are set through agreements between drivers and their insurance companies, with certain state regulations in place. While state law sets minimum requirements for liability coverage, deductibles for collision and comprehensive insurance are up to the policyholder. Choosing a higher deductible can lower your monthly premium but means paying more out of pocket if you file a claim. On the other hand, a lower deductible results in a higher premium but reduces the amount you’d need to pay upfront in case of an accident.

Secure a Policy Today

At Gaulin Insurance Agency, we help drivers understand their options and find coverage that fits their budget. Contact us today for expert assistance and a personalized quote.