Rhode Island Commercial Auto Insurance Profitability (2023)
In 2023, Commercial Auto insurers earned $126.6M in premiums in Rhode Island and ran a 59.2% loss ratio — the 38th-highest of 51 states (one of the lowest loss ratio for the line).
Source: NAIC 2023 Report on Profitability by Line by State. Loss ratio = incurred losses ÷ premiums earned.
Nationally, Commercial Auto ran a 74.4% loss ratio in 2023, so Rhode Island is below the national average. See how every state compares on the Commercial Auto market page.
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A higher loss ratio means carriers paid out more of each premium dollar in claims, which tends to push Rhode Island commercial auto rates up and thin the field of carriers competing for the business; a lower one signals a more profitable, more competitive market. A 7.7% underwriting profit means the line stood on its own in Rhode Island without leaning on investment income. Counting investment income, carriers earned a 12.6% profit on commercial auto insurance transactions in Rhode Island in 2023 — NAIC's broadest profitability measure for the line. Either way, these are industry aggregates — your own commercial auto rate depends on your business, and the only way to see it is to compare filed rates and real quotes.
Rhode Island's $127M in commercial auto premiums is the 44th-largest of the 51 states NAIC reports for the line. Across those states, loss ratios span from 99.1% in California — the toughest market for carriers — down to 40.1% in Hawaii, the most profitable; Rhode Island's 59.2% places it 38th of 51. For buyers, a state near the top of that spread usually means firmer commercial auto pricing and fewer competing carriers, while a state near the bottom tends to run softer and more competitive. By premium, Rhode Island is about 0.3% of the $40.9B national commercial auto market, and its loss-ratio rank places it in the more profitable half of states for carrier profitability — context that shapes how aggressively carriers compete for Rhode Island commercial auto business.
Key takeaways
- Rhode Island commercial auto: $127M in 2023 premiums at a 59.2% loss ratio (NAIC).
- That ranks Rhode Island 38th of 51 states by loss ratio for the line — a profitable market for carriers.
- These are industry aggregates, not a quote — your commercial auto rate depends on your business; compare filed rates and real quotes.
Getting Commercial Auto coverage in Rhode Island
See recent Rhode Island rate filings on the Rhode Island rate page, learn how Commercial Auto works in our Commercial Auto guide, see typical commercial auto costs, then compare real quotes for your business.
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