Known for its sandy beaches and quintessential New England charm, Rhode Island is a wonderful place to own a home. With the cost of homeowners insurance being relatively low, homeowners in the Ocean State have plenty of decent coverage options.
The average cost of homeowners insurance in Rhode Island is $1,470 per year or $122 a month. This is around 23% lower than the national average of $1,899.
But there are other factors you should consider when choosing an insurer. Not sure what to look for? Policygenius can help you figure out your coverage needs and compare quotes from multiple top companies in Rhode Island.
Best homeowners insurance companies in Rhode Island
Of the companies we looked at, Narragansett Bay has the lowest home insurance rates in Rhode Island, with an average annual policy rate of $774 — almost half the state average.
Amica, Allstate, and Nationwide all scored highly with J.D. Power for customer service and claim satisfaction, which can often be worth the extra cost of their policies.
Policygenius analyzed thousands of quotes from the 5 largest Rhode Island insurers to find the average cost of homeowners insurance with each company in 2022. We then looked at 2021 J.D. Power customer satisfaction scores and compared that with the coverage needs of Rhode Island residents to find the best homeowners insurance in Rhode Island.
Amica is known for its award-winning customer service and claims satisfaction ratings, as well as highly customizable home insurance policy options.
Customer service and claims satisfaction ratings are best in the business
Numerous policy perks, like the dividend program that refunds a portion of your premiums at the end of the year
Contractor referral program helps you find a certified contractor for repairs after you file a claim
File and track claims online or through its highly rated mobile app
Rates are on the high end of the spectrum
Doesn’t offer guaranteed replacement cost dwelling coverage
Why Amica tops our best list
If customer service is at the top of your list, then you know why Amica is at the top of ours. Known for its outstanding service, Amica’s J.D. Power score of 854 out of 1,000 is one of the best in the industry. Its website and mobile app make accessing your policy easy and convenient, and with its variety of claims services, it’s no wonder Amica is rated so highly in customer and claim satisfaction.
How to get a quote
Online through Amica
Allstate's mix of exceptional customer satisfaction ratings, personalized coverage options, and numerous discount opportunities make it one of the most popular homeowners insurance companies on the market.
Several coverage add-ons, including ones for roof surfaces, water backup, green improvements, and mold protection
8+ discounts, including autopay, bundling, zero claims, and new homebuyer
Get up to 25% off your premiums when you bundle home and auto insurance
Excellent customer service and claims satisfaction ratings
File and track claims online or through its mobile app
Rates are typically high compared to competitors
Why Allstate tops our best list
With Allstate’s catastrophe team, you don’t have to worry about how to get in touch with your insurance company when communication is down. Allstate sets up mobile units in areas hit by natural disasters, like hurricanes, so you can file a claim even when you don’t have power, phone, or internet.
How to get a quote
Online through Policygenius or Allstate
Narragansett Bay is a regional insurer that offers affordable home insurance with lots of coverage add-ons like flood insurance and personalized services like home appraisals to ensure your house is insured for the right value.
Offers private flood insurance endorsement
Excellent policy add-ons, including water backup, service line, equipment breakdown, and expanded tree removal coverage
Special home appraisal program to ensure you're not over-insured
Lower-than-average customer complaints according to the NAIC
File claims online
No information about available discounts online
Why Narragansett Bay tops our best list
Narragansett Bay offers customers an in-home review to protect against overpaying for home insurance. If it finds that you’re overinsured, Narragansett Bay will reduce your premium accordingly.
How to get a quote
Online through Policygenius or by calling a Narragansett Bay agent
Nationwide offers flexible home insurance policy options for every home type and income level. And we love its slew of discounts for everything from having a newish roof to living in a gated community.
Offers lots of coverage add-ons, including flood and earthquake insurance
Option to rebuild roof with stronger, safer materials after a covered loss
Score discounts for living in a gated community, making home renovations, having a newer roof, and more
Seamlessly submit claims online or through its mobile app
Above-average claims satisfaction rating
Below-average customer satisfaction ratings
Water backup coverage is more expensive than with other insurers
Why Nationwide tops our best list
Even with Nationwide’s low average yearly rate of $1,294, there are more ways to save on your home insurance policy. Along with discounts for being claims free and bundling home and auto insurance, Nationwide also offers discounts for renovating your home’s plumbing or heating, living in a gated community, or purchasing a new home.
How to get a quote
Online through Policygenius or Nationwide
With 200 years under its belt and a reputation for personalized and exceptional customer service, The Andover offers a slew of homeowners insurance coverage add-ons to ensure you're fully protected.
Excellent coverage add-ons, including guaranteed replacement cost, water backup, equipment breakdown, and home cyber protection
Good industry reputation
Can't file claims online — must call and speak to an agent
Not much information about discounts available online
Why The Andover tops our best list
On top of its standard policy, The Andover offers comprehensive identity theft coverage. With this add-on coverage, The Andover will help to restore your identity if you’ve been the victim of fraud, as well as pay for the costs and fees of recovering your information.
How to get a quote
By calling The Andover
Cheapest homeowners insurance companies by city in Rhode Island
Looking at average home insurance costs for the 15 most popular insurers in Rhode Island, we found that the cheapest homeowners insurance companies in the state are Narragansett Bay, State Farm and UPC Insurance. While State Farm has the lowest rates in Providence and Warwick, $802 and $789 respectively, Cranston’s lowest average rate of $786 is with Narragansett Bay.
The cost of homeowners insurance in Rhode Island varies based on where you live as well as the age and value of your house. Areas with high crime will often see larger premiums because you’re more likely to file a claim due to theft of vandalism. Older homes also cost more to insure because they are more likely to need repairs after a storm and can be expensive to replace.
Shopping for homeowners insurance in Rhode Island
Shopping for homeowners insurancecan seem confusing at first, but talking to a Policygenius agent can help to narrow down what coverage options you need and how much coverage is right for you. Homeowners in Rhode Island should make sure they’re prepared for potential hurricane damage, which may include purchasing a separate flood insurance policy.
In this section, we break down the average annual home insurance rates in Rhode Island for different coverage and deductible levels, as well as the cheapest and most expensive home insurance companies in the state for individuals with a poor credit score, dog owners, and pool owners. Once you’re ready to shop, a Policygenius expert can help you navigate your coverage needs and help you find the best deal on homeowners insurance in Rhode Island.
Rhode Island home insurance costs by coverage amounts
Dwelling coverage is the portion of your policy that covers the cost to repair or rebuild your home after a covered loss. The amount of coverage you need should be based on your home’s replacement cost, which is the amount it takes to rebuild your home from the ground up.
In Rhode Island, the average yearly cost of a policy with $300,000 in dwelling coverage is $1,470. That amount goes up to $1,831 if your policy has $400,000 in dwelling coverage — a difference of $361.
Liability insurance covers medical or legal bills in the event you’re legally responsible for someone’s injuries. Your liability coverage limit should be high enough to cover the total value of your assets, from your home and cars to your savings and liquid investments.
Rhode Island home insurance costs by deductible amount
Your homeowners insurance deductible is what you pay toward each covered claim. While you can save money on your premium by choosing a higher deductible, you may want to reconsider before setting it too high.
As seen in the table below, Rhode Island residents can save around $498 on home insurance by choosing a $2,000 deductible over the $500 option.
Home insurance discounts in Rhode Island
Most insurance companies will discount your rates if you have one or several protective devices in your home. Installing a deadbolt lock, smoke detector, or burglar alarm makes your home safer and reduces the chances you will have to file a claim due to a break-in or fire.
While you won’t get a huge discount if your house has one of the following features and nothing else, they can add up if you have several protective devices in your home. Here is the average annual rate and average discount percentage for homes in Rhode Island with deadbolts, smoke alarms, or burglar alarms.
Home insurance companies in Rhode Island for dog owners
Owners of certain dog breeds may see higher home insurance rates due to the increased likelihood of having to file a liability claim due to bites or other injuries.
With an average rate of $774 per year, Narragansett Bay has the cheapest home insurance rates in Rhode Island for a home with a dangerous dog breed, while The Andover’s average yearly premium of $1,860 is the highest.
Home insurance companies in Rhode Island for poor credit
Insurance companies will check your credit score to determine if you are a high risk to insure. Customers with poor credit will often pay higher home insurance rates because they are more likely to miss payments or file claims.
With an average rate of $1,015 per year, Narragansett Bay has the cheapest home insurance rates in Rhode Island for a homeowner with poor credit, while The Andover’s average yearly premium of $3,405 is the highest.
Home insurance companies in Rhode Island for pool owners
Having a pool can be fun in the summer, but it can also lead to higher home insurance costs. While not all companies increase rates for pool owners, some will charge more due to the risk of injuries, leading to liability claims.
With an average rate of $774 per year, Narragansett Bay has the cheapest home insurance rates for Rhode Island homes that have a swimming pool, while The Andover’s average yearly premium of $1,860 is the most expensive.
How to buy homeowners insurance in Rhode Island
Homeowners in Rhode Island should take advantage of the state’s already low rates and opt for a comprehensive home insurance policy to protect against potentially catastrophic coastal storm damage.
Here are a few more tips for buying homeowners insurance in Rhode Island:
Reach out to a licensed Policygenius agent. If you have questions on anything from determining your coverage limits to choosing the right deductible, a Policygenius agent can help.
Ask about the Rhode Island FAIR plan. If you are unable to buy home insurance through traditional means, a Rhode Island FAIR plan is a fine last-resort option.
Consider purchasing flood insurance. Even if you don’t live by the coast or in a flood zone, one strong hurricane can cost thousands in damage.
Compare quotes from a Policygenius agent. Once you get your quotes from multiple insurance providers, a Policygenius agent can help you decide which home insurance option is best for you.
Choose your policy, sign, and pay your first premium. Once you pick out a policy, all you have to do is sign and pay your first premium. A Policygenius agent can take care of the rest.
Frequently asked questions
How does a home insurance deductible work?
Your deductible is the amount you pay towards every covered claim. If your deductible is $1,000 and your claim is for $4,000, you will have to pay the first $1,000, and then your insurance company will reimburse you for the remaining $3,000 of the loss.
What is the average cost of home insurance in Rhode Island?
The average cost of homeowners insurance in Rhode Island is $1,470 per year, or $122 a month.
What is personal property insurance?
Personal Property insurance covers the belongings inside your home when they are damaged by a covered peril and need to be repaired or replaced. This includes your furniture, clothing, and electronics.
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.