Best homeowners insurance in Rhode Island for 2025

Compare the best homeowners insurance companies in Rhode Island

According to proprietary rate data from Quadrant Information Services, the average annual homeowners insurance premium in Rhode Island for $300,000 in dwelling coverage is $2,064, or $172 per month. However, Bankrate knows that to find the best homeowners insurance company, you likely need to consider more than just rates. For that reason, we also analyze third-party customer service scores from J.D. Power, financial strength ratings from AM Best, coverage offerings, digital tools and more.

Based on our in-depth research, Amica, Nationwide, Allstate, PURE and Narragansett Bay Insurance Co. may be among the best home insurance companies in Rhode Island.

The top 5 home insurance companies in Rhode Island

Additional Rhode Island home insurance companies to consider

The Andover Companies

Providence Mutual Insurance Company

How Bankrate chose the best home insurance companies in Rhode Island

To find the best Rhode Island homeowners insurance companies, our editorial team researched and reviewed some of the biggest providers in the state by market share. Then, each insurance company was evaluated using our unique methodology and assigned a Bankrate Score consistent with the findings.

Bankrate Scores, which are out of 5.0 points, are based on features like financial strength, customer experience, claims handling, and online and mobile resources. We also pulled rate data from Quadrant Information Services to determine average premiums for each home insurance provider and factor affordability into the Bankrate Scores.

When comparing Rhode Island home insurance companies, using Bankrate Scores may make it easier to see how an insurer might stack up against its competitors. Many factors contribute to Bankrate Scores, so companies with the highest scores are typically well-rounded and excel in multiple areas rather than standing out for one thing.

Cheapest home insurance companies in Rhode Island

Identifying the best cheap home insurance in Rhode Island involves considering various factors unique to the state's insurance landscape. While prices for home insurance can fluctuate based on individual circumstances, it's generally beneficial for homeowners to compare quotes from different insurers. This comparison not only offers insights into the most cost-effective options but also helps in finding coverage that suits specific needs.

The following table highlights companies known for offering relatively affordable home insurance in Rhode Island, although it's crucial to remember that the cheapest option may not always be the most suitable for every homeowner's needs.

How to get cheap Rhode Island home insurance

Homeowners insurance is not a legal requirement, but if you don't own your home outright, your lender will likely require you to carry a policy as a condition of your mortgage. Even if you don't have a mortgage, your home is likely one of the most significant purchases you’ll make in your lifetime, and experiencing a loss without the proper coverage could lead to a devastating blow to your finances.

However, just because homeowners insurance may be valuable doesn’t mean it has to break the bank. Following the tips below could help make it easier to find the best cheap home insurance in RI:

• Determine your coverage needs: Knowing how much homeowners insurance you need might be tricky, but it may be an important step in ensuring that you aren’t overpaying for your policy. Making a home inventory and meeting with a licensed agent may help you determine the right amount of coverage for your home and budget.
• Think about your priorities: Price is not the only consideration when choosing a home insurance provider, and it may not always serve you to go with the cheapest insurance. You might prefer face-to-face customer service in lieu of digital policy management or vice versa. When narrowing down your list of potential home insurance providers, you may also want to zero in on your priorities.
• Request and compare quotes: When you know what coverage you need and what company features you’re looking for, you can begin to request quotes. Many major carriers provide online quotes, but due to the complexity of home insurance, some may find it worthwhile to speak directly with an agent. Requesting quotes with the same (or similar) coverage levels and endorsements across companies may help you accurately compare rates across carriers.

Best home insurance discounts in Rhode Island

Each home insurance company offers its own unique suite of savings opportunities. However, you might find some discounts are common across carriers, including:

How to save on home insurance policy renewals in Rhode Island

Saving on home insurance policy renewals in Rhode Island can potentially be achieved through several methods:

• Review and update coverage needs: Regularly assess your coverage to ensure it aligns with your current needs. Changes in your home or personal property might mean you can adjust your coverage levels.
• Shop around: Before renewing, compare quotes from multiple insurers. This might help you find the most competitive rates for the coverage you need.
• Inquire about discounts: Ask your insurer about eligible discounts, such as for home improvements, security systems or bundling policies.
• Increase your deductible: Opting for a higher deductible could lower your premium, but ensure it's an amount you can comfortably afford in case of a claim.
• Maintain a good credit: In some cases, a higher credit rating could lead to lower insurance costs.

How much is home insurance in Rhode Island?

On average, Rhode Island homeowners insurance costs $2,324 per year for a policy with $300,000 in dwelling coverage. This is slightly less than the average cost of home insurance in the U.S., which is $2,258 per year for the same coverage amount.

The cost of home insurance in Rhode Island is comparable to neighboring states. For example, home insurance costs an average of $1,703 per year in Massachusetts and $1,660 in Connecticut. Like other homeowners in New England, Rhode Island homeowners have specific considerations when it comes to home insurance.

For example, Rhode Island experiences some severe weather that could potentially damage homes. Due to its location along the coast, some homes in the state could be impacted by hurricanes and heavy winds, as well as hail storms, thunderstorms and even blizzards during the winter months.

Home insurance rates in Rhode Island can be impacted by a variety of factors. When you apply for a policy, the insurance company may account for things like your home’s age and size, your credit history and claims history, the ZIP code you live in and more to determine your premium.

Rhode Island homeowners insurance rates by city

Homeowners insurance rates in Rhode Island can vary significantly by city, influenced by local factors such as weather patterns, crime rates and the general cost of living. This variability makes it essential for homeowners to understand how their location within the state might impact their insurance premiums.

*Rates are for $300,000 in dwelling coverage.

What does home insurance cover in Rhode Island?

A standard HO-3 home insurance policy generally covers a range of perils, with dwelling and other structures typically covered on an open perils basis (meaning they are covered unless explicitly excluded) and personal property on a named perils basis. Relevant perils for Rhode Island might include:

• Hail or windstorms: Given Rhode Island's coastal location, windstorms can pose a significant risk, potentially causing damage to the structure of homes.
• Weight of snow, ice or sleet: Rhode Island's winter weather can lead to heavy snowfall, with the weight causing potential damage to roofs and other structures.
• Freezing of systems and appliances: The freezing of plumbing, heating and air conditioning systems is also a concern, particularly during the colder months, and could lead to costly damages.

Additional home insurance coverage types in Rhode Island

Most homeowners insurance policies in Rhode Island will include basic coverage types, like dwelling, personal property, other structures, liability, medical payments and loss of use coverage. In addition, you might want to consider purchasing endorsements or separate policies for more protection. These could include:

• Flood insurance: According to FEMA flood maps, Rhode Island has a fairly high risk for flooding. Flood damage is not covered by standard homeowners insurance policies. Some companies, like Narragansett Bay Insurance, offer a flood insurance endorsement, but you will typically need to purchase a separate policy to obtain coverage.
• Water backup coverage: If water backs up into a sewer or drain line and damages your home or personal property, you will need this endorsement to have coverage. This type of damage is relatively common in basements and crawl spaces, but it can happen in any water or drain line.
• Debris removal coverage: As a coastal state, Rhode Island has the potential to experience hurricanes. Debris removal coverage could help to pay for the cost of removing debris from your property after a storm or other covered loss. Most policies have a standard amount of debris removal coverage, but you may want to increase your limits.
• Dwelling replacement cost coverage: This coverage is designed to pay you for the full replacement cost of your home’s structure rather than taking depreciation out of a settlement. Not all homes qualify, though, so be sure to talk to your provider about this option.

Working with a licensed insurance professional may be helpful when you are choosing coverage. Agents typically have the additional expertise needed to assess your situation and help you choose appropriate endorsements and coverage levels.

Common Rhode Island home insurance problems

Homeowners in Rhode Island face unique challenges when insuring their homes. The coastal location makes properties susceptible to storm and flood damage, potentially increasing insurance costs and complicating the process of obtaining coverage. Additionally, older homes common in the state may pose difficulties in securing affordable insurance due to the higher risks associated with aging structures. Here are some common challenges:

• Increased risk of coastal weather damage: Proximity to the ocean heightens the risk of storm-related damage.
• High flood risk: Many areas may require separate flood insurance, which can add to the overall insurance cost.
• Older homes: These may be more expensive to insure due to the higher likelihood of claims related to age-related issues.

Frequently asked questions

Bankrate Scores 

Our Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.