PROVIDENCE – Rhode Island policyholders suffer some of the worst premium auto insurance cost hikes in the nation after filing claims, according to a new study.
The annual study, done by insuranceQuotes.com, examines the average cost impact of filing an auto claim. The study shows nationwide premium costs increased on average 42 percent after a single claim of $2,000 or more, representing a decrease from 44 percent reported a year earlier.
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Bad news for Rhode Islanders, however, is the average premium increase for drivers who filed a claim of $2,000-plus totaled 62 percent, representing the third most of any state in the nation.
New Hampshire drivers realized the greatest premium increases – 66 percent – followed by California at 63 percent. After Rhode Island, Massachusetts drivers realized 61 percent premium increases followed by Iowa at 57 percent.
The five states with the lowest increases included:
- Kentucky: 19 percent
- Tennessee: 20 percent
- Michigan: 22 percent
- Oklahoma: 23 percent
- West Virginia: 29 percent
The full study can be found here.
