120+ more)
)
5+ years writing insurance and personal finance topics
Auto, home, health, and life insurance expertise
Elizabeth has extensive insurance industry experience, having written for Insureon, Rate Retriever, and Insurify. She’s also finance and insurance editor for Car and Driver.
Featured in
){kind=small}
){kind=logo}
){kind=small}
)
Licensed auto and home insurance agent
3+ years experience in insurance and personal finance editing
NPN: 20564519
Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
Featured in
){kind=small}
){kind=small}
)
Data expert on auto trends and driver behavior
University of Chicago graduate with statistics degree
Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.
Featured in
){kind=logo}
){kind=small}
){kind=small}
Updated
At Insurify, our goal is to help customers compare insurance products and find the best policy for them. We strive to provide open, honest, and unbiased information about the insurance products and services we review. Our hard-working team of data analysts, insurance experts, insurance agents, editors and writers, has put in thousands of hours of research to create the content found on our site.
We do receive compensation when a sale or referral occurs from many of the insurance providers and marketing partners on our site. That may impact which products we display and where they appear on our site. But it does not influence our meticulously researched editorial content, what we write about, or any reviews or recommendations we may make. We do not guarantee favorable reviews or any coverage at all in exchange for compensation.
The average cost of home insurance in Rhode Island is $2,292 per year for a policy with $300,000 in dwelling coverage, which is lower than the national average.
Many homes in Rhode Island, especially along the coast, are susceptible to damage from heavy rains, flooding, and storm surges.[1] Basic homeowners insurance is essential in Rhode Island, but some homeowners may need to supplement their standard policy with flood insurance for more protection.
Here’s what you need to know about home insurance in Rhode Island.
The cheapest home insurance companies in Rhode Island are State Farm, Amica, and AIG, according to Insurify data.
Rhode Island home insurance is slightly cheaper than the national average of $2,532 for a policy with $300,000 in dwelling coverage.
AIG is the best Rhode Island home insurance company for high-value homes.
Many reputable home insurance companies serve homeowners in Rhode Island. The best homeowners insurance in Rhode Island for you depends on your situation, specific needs, and budget.
Insurance Company  | IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | Average Annual Premium | Best For |
|---|---|---|---|
| State Farm | 8.2 | $1,478 | Cheapest rates |
| Amica | 8.2 | $1,493 | Customer satisfaction |
| AIG | N/A | $1,652 | High-value homes |
| Nationwide | 8.4 | $2,016 | Coverage options |
Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.
We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 8.2/10 |
|---|---|
| A.M. Best A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor). | A++ |
| $300,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $120/mo |
| $500,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $182/mo |
State Farm is the largest home insurance company in the country by market share, and it’s a popular option for Rhode Island homeowners who want the cheapest coverage. State Farm has the lowest home insurance rates in the Ocean State, on average. The insurer is also among the top home insurance companies for overall customer satisfaction, with an above-average rating in the J.D. Power 2023 U.S. Home Insurance Study.
Lowest home insurance rates
Excellent third-party ratings
Fewer available discounts than some competitors
Not many optional coverages
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 8.2/10 |
|---|---|
| A.M. Best A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor). | A+ |
| $300,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $116/mo |
| $500,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $176/mo |
Headquartered in Lincoln, Rhode Island, Amica is the best homeowners insurance company for customer satisfaction. In the J.D. Power 2023 U.S. Home Insurance Study, Amica ranked second out of 22 home insurance companies.
Another benefit of Amica is that its policyholders are eligible to earn dividends. Depending on Amica’s financial performance, you can potentially earn up to 20% back on your premiums paid during the policy period. The company also offers excellent discounts and coverage options.
Second-highest J.D. Power customer satisfaction rating
Policyholders are eligible to earn dividends
Can’t purchase a policy online
Not as many specialty coverage options as some insurers
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | NR |
|---|---|
| $300,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $142/mo |
| $500,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $227/mo |
If you own a high-value home in one of Rhode Island’s most desirable locations, like Newport, AIG is an excellent option for home insurance. AIG specializes in insuring high-value homes that have unique coverage requirements. Standard policies include coverage for landscaping, breakage of fragile items, and pet damage. You can also get replacement cost coverage for your home and personal property.
Homeowners can access AIG’s proactive loss prevention services that can reduce the risk of certain claims. For example, AIG can assist with personal security systems and Architectural Legacy Services to preserve historic older homes.
Customizable coverage for high-value homes
Various available loss prevention services
No advertised discounts
Quotes not available online
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 8.4/10 |
|---|---|
| A.M. Best A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor). | A+ |
| $300,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $165/mo |
| $500,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $250/mo |
Nationwide has the best coverage options out of the Rhode Island home insurance companies evaluated. Nationwide’s standard home insurance policies include the basics, plus credit card coverage and law and ordinance coverage. You can add optional endorsements like identity theft coverage, service line coverage, dwelling replacement cost coverage, water backup coverage, and flood insurance.
Nationwide also sells Brand New Belongings and Better Roof Replacement coverages. Additionally, the company has some of the best available discounts, with savings for having no prior claims, living in a gated community, installing protective devices, having prior insurance, and more.
Excellent selection of available add-on coverages
Good variety of home insurance discounts
Below-average J.D. Power customer satisfaction score
More complaints than expected for home insurance, according to the National Association of Insurance Commissioners (NAIC)
Home insurance companies in Rhode Island charge different rates for coverage. State Farm has the cheapest home insurance in the Ocean State, with an average premium of $120 per month for a policy with $300,000 in dwelling coverage.
In the table below, you can see which homeowners insurance companies have the cheapest rates for Rhode Island homeowners. Average monthly premiums reflect costs for a policy with $300,000 in dwelling coverage.
Data expert on auto trends and driver behavior
University of Chicago graduate with statistics degree
Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.
Featured in
Insurance Company | Average Monthly Premium |
|---|---|
| State Farm | $120 |
| Allstate | $156 |
| Nationwide | $165 |
Insurify partners with 120+ insurers for real quotes
Rhode Island’s average home insurance premium is $2,292 per year for a policy with $300,000 in dwelling coverage. To compare, the national average is $2,532 per year.
Home insurance companies personalize premiums for every homeowner. Some of the biggest factors that can affect the cost of home insurance include your ZIP code, the size of your home, the type of home insurance you purchase, your coverage limits, and more.
Home insurance premiums in Rhode Island can vary significantly depending on the dwelling coverage limit you choose. Policies with higher dwelling coverage limits have more expensive premiums. Experts recommend choosing a dwelling coverage limit that matches the cost of rebuilding your home after a covered loss.[2]
Below, you can see the average cost of homeowners insurance in Rhode Island based on the coverage limit. Average monthly premiums reflect costs for policies with $300,000 in dwelling coverage.
Data expert on auto trends and driver behavior
University of Chicago graduate with statistics degree
Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.
Featured in
Insurance Company | Average Monthly Premium |
|---|---|
| State Farm | $88 |
| Allstate | $108 |
| Nationwide | $120 |
Data expert on auto trends and driver behavior
University of Chicago graduate with statistics degree
Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.
Featured in
Insurance Company | Average Monthly Premium |
|---|---|
| State Farm | $120 |
| Allstate | $156 |
| Nationwide | $165 |
Data expert on auto trends and driver behavior
University of Chicago graduate with statistics degree
Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.
Featured in
Insurance Company | Average Monthly Premium |
|---|---|
| State Farm | $182 |
| Allstate | $221 |
| Nationwide | $250 |
Data expert on auto trends and driver behavior
University of Chicago graduate with statistics degree
Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.
Featured in
Insurance Company | Average Monthly Premium |
|---|---|
| State Farm | $253 |
| Allstate | $320 |
| Nationwide | $357 |
Your policy will have a home insurance deductible, which is the amount you have to pay out of pocket when you file a claim. Choosing a higher deductible means you’ll pay more toward a claim, but your premium will be lower. Policies with a low deductible have higher premiums.
In the following table, you can see the average Rhode Island home insurance premium by the deductible amount for a policy with $300,000 in dwelling coverage.
Deductible Amount | Average Annual Premium |
|---|---|
| $500 | $2,101 |
| $1,000 | $2,036 |
)
Rhode Island homeowners can use these strategies to get cheaper home insurance:[3]
Look for discounts. Some home insurance companies offer discounts that can help you save money. For example, you might be able to earn a discount for being claims-free or living in a gated community.
Install protective devices. You can often get a lower home insurance premium if you install certain protective devices in your house, like a security system or fire sprinklers.
Bundle policies. Purchasing two insurance policies from the same insurer, like home insurance with auto insurance or life insurance, can usually help you earn a discount on one or both premiums.
Compare quotes. It’s a good idea to shop around and compare quotes from a few different insurers to find the cheapest policy for your situation.
Rhode Island doesn’t legally require home insurance. But it’s often a lender requirement if you have a mortgage.
It’s important to choose enough coverage to protect your home and your liabilities and understand what your home insurance policy covers. Depending on your situation, you may need to supplement your home insurance with endorsements.
You should choose a dwelling insurance coverage limit that will cover the full cost of rebuilding your home back to its prior condition in the event of a covered loss. Most home insurance policies cover your personal belongings at 50%–70% of your dwelling coverage limit, but you may need to add an endorsement if you keep valuables in your house, like art or fine jewelry.
For liability insurance, you should choose a coverage limit based on your personal assets that could be at risk in a lawsuit. This includes real estate, vehicles, boats, money in retirement accounts, and savings.
Most home insurance companies provide several coverage limit options for medical payments insurance and loss of use insurance. Choosing higher coverage limits will provide more financial protection, but your premium will be more expensive.
Due to Rhode Island’s coastal geography, some homes in the state are near or in flood zones. Standard home insurance policies don’t cover flood damage, so you might need to purchase a separate flood insurance policy to protect your home from flooding.
Get personalized home insurance quotes in minutes
Rhode Island homeowners face some risks that can cause serious property damage, like severe weather. Here are some of the most notable perils for Ocean State residents:
In Rhode Island, flooding is becoming more common due to heavy rainstorms fueled by climate change. Sea levels are also rising, which increases the risk of storm surges. Rhode Island has more than 400 miles of shoreline, and homeowners who live near the coast might be good candidates for flood insurance. The most common way to get flood insurance is through the National Flood Insurance Program, but some private insurers also offer this coverage.
Certain parts of Rhode Island can get up to 55 inches of annual snowfall.[4] Standard home insurance policies cover property damage caused by the weight of snow, sleet, and ice, and freezing. So, for example, if your pipes freeze and suddenly burst, your insurance company could cover the repairs, assuming you took precautions to prevent them from freezing.
Hurricanes don’t typically hit Rhode Island directly, but the remnants of hurricanes can travel up the East Coast and bring high winds to the Ocean State. Homeowners insurance covers windstorm damage. Homes in high-risk areas, like on the beach, sometimes have a separate windstorm deductible that applies to wind-related claims.
The following information can help answer your remaining questions about finding the best homeowners insurance in Rhode Island for your specific coverage needs.
The average annual cost of home insurance in Rhode Island is $2,292 for a policy with $300,000 in dwelling coverage. This is lower than the national average cost of $2,532 per year for the same amount of home insurance.
Because Rhode Island has more than 400 miles of coastline, many people with homes on the coast will need to purchase a separate flood insurance policy, which comes at an added cost.
State Farm has the cheapest homeowners insurance in Rhode Island, with an average monthly premium of $120 for a policy with $300,000 in dwelling coverage.
Amica and AIG also offer affordable coverage in the state.
Rhode Island state law doesn’t require homeowners to purchase home insurance, but most mortgage lenders do. If you have a mortgage, you’ll likely need to purchase homeowners insurance.
It’s important to purchase homeowners insurance, even if you don’t need to, because it can protect the structure of your home and your personal belongings in the event of covered damages or loss. Home insurance can also cover your liability if someone visits your property, sustains an injury, and sues you.
An HO-3 (special form) is the most common home insurance policy. It covers your dwelling and personal property from a range of perils, including fire, windstorms, and vandalism. It also includes other structures and liability coverage.
Insurify data scientists analyzed rates from more than 180 home insurance companies sourced directly from Insurify’s partner companies and Quadrant Information Services. Rates span all 50 states and Washington, D.C., and quote averages represent the mean price for a given coverage level and geographic area. To ensure data reliability, only insurers meeting minimum quote thresholds were included in the analysis.
Unless otherwise specified, quoted rates reflect the average cost for homeowners with no prior claims and good credit with a home construction year of 1980. The default coverage assumptions include:
Default Coverage Assumptions
Additional data points beyond these default values are sourced from Insurify’s proprietary database. Rates are updated monthly.
)
)
)
)
)
)
)
)
)
Elizabeth Rivelli is a freelance writer covering insurance and personal finance. She has extensive knowledge of various insurance lines, including property and casualty, health, and life insurance. Her byline has been featured in dozens of publications, including Investopedia, Forbes, Bankrate, NextAdvisor, and Insurance.com.
Elizabeth has been a contributor at Insurify since October 2022.
Licensed auto and home insurance agent
3+ years experience in insurance and personal finance editing
NPN: 20564519
Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
Featured in
Data expert on auto trends and driver behavior
University of Chicago graduate with statistics degree
Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.
Featured in
)
)
State Farm
Amica
AIG
Nationwide