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The average cost of homeowners insurance in Rhode Island is $1,280 per year, or about $107 per month, according to a NerdWallet analysis. That’s less than the national average of $1,820 per year.
Note: Some insurance companies included in this article may have made changes in their underwriting practices and no longer issue new policies in your state.
The best homeowners insurance in Rhode Island
If you’re looking to buy homeowners insurance from a well-rated national brand, consider one of these insurers from NerdWallet’s list of the Best Homeowners Insurance Companies.
NerdWallet star rating
Average annual rate
*USAA homeowners policies are available only to active-duty military members, veterans and their families.
More about the best home insurance companies in Rhode Island
Chubb generally serves affluent policyholders with high-value homes, offering lofty coverage limits and plenty of perks. For example, the company covers water damage from backed-up sewers and drains, and it pays to bring your home up to the latest building codes during reconstruction after a claim. (Many insurers charge more for these types of coverage.)
Chubb policyholders may also be able to take advantage of the company’s HomeScan service, which uses infrared cameras to look for problems behind the walls of your home.
Learn more with our Chubb homeowners insurance review.
Rhode Island-based Amica stands out for its customer service and broad range of coverage options. The company has drawn significantly fewer consumer complaints to state regulators than expected for an insurer of its size, according to the National Association of Insurance Commissioners (NAIC).
You can customize your policy with extra coverage above your dwelling limit in case your house costs more to rebuild than expected. You may also want to add coverage for damage from water backups or recovery from identity theft.
Get more information in our Amica homeowners insurance review.
Nationwide’s standard homeowners policies include ordinance or law coverage, which pays to bring your home up to the latest building codes after a covered claim. They also include coverage for unauthorized credit or debit transactions. For an extra cost, you may be able to add coverage for things like water backup, identity theft and stronger materials to replace your roof.
The Nationwide website offers plenty of ways to manage your policy, including filing and tracking claims, paying bills and getting quotes.
Learn more with our Nationwide homeowners insurance review.
Travelers offers a robust online experience. You can use the website to get a homeowners insurance quote, file and track claims, make payments and learn about insurance basics.
Its coverage offerings are similarly strong. For example, you may be able to add extra coverage in case the dwelling limit on your home isn’t enough to rebuild your house after a disaster. One unique option is Travelers’ green home coverage, which pays extra if you want to use eco-friendly materials when repairing or rebuilding your home after a covered claim.
Learn more in our Travelers homeowners insurance review.
USAA sells homeowners insurance to veterans, active-duty military members and their families. If that description fits you, you may want to consider a USAA policy. That’s because the company’s homeowners insurance has certain features that other insurers may charge extra for.
For example, USAA automatically covers your personal belongings on a replacement cost basis. Many companies pay out only what your items are worth at the time of the claim, which means you may not get much for older items. USAA pays enough for you to buy new replacements for your stuff.
Learn more with our USAA homeowners insurance review.
How much does homeowners insurance cost in Rhode Island?
The average annual cost of home insurance in Rhode Island is $1,280. That’s 30% less than the national average of $1,820.
In most states, including Rhode Island, many insurers use your credit-based insurance score to help set rates. Your insurance score is similar but not identical to your traditional credit score.
In Rhode Island, those with poor credit pay an average of $2,385 per year for homeowners insurance, according to NerdWallet’s rate analysis. That’s 86% more than those with good credit.
Average cost of homeowners insurance in Rhode Island by city
How much you pay for homeowners insurance in Rhode Island depends on where you live. For instance, the average cost of home insurance in Providence is $1,365 per year, while homeowners in Warwick pay $1,255 per year, on average.
Average annual rate
Average monthly rate
The cheapest home insurance in Rhode Island
Here are the insurers we found with average annual rates below the Rhode Island average of $1,280.
What to know about Rhode Island homeowners insurance
Rhode Island may be the smallest state, but its storms can be mighty. Homeowners shopping for insurance in Rhode Island should consider risks from common winter and coastal storms as well as less frequent hazards like earthquakes.
Rhode Island can experience coastal and inland flooding due to heavy rain, melting snow and storm surges.
Standard homeowners insurance policies typically do not cover flood damage. As a result, homeowners in flood-prone areas may need to buy separate flood insurance to pay for potential water damage.
To find out whether you’re at risk, check out the Federal Emergency Management Agency's flood maps or visit RiskFactor.com, a website from the nonprofit First Street Foundation. Even if your property is deemed low risk, it may be worthwhile to buy flood insurance for extra peace of mind.
Remember that while you can buy flood coverage at any time, there’s typically a 30-day waiting period before the insurance takes effect. Here’s more information about flood insurance and waiting periods.
Winter storms and nor’easters
As part of wintry New England, Rhode Island often sees harsh winter weather, including snowstorms and nor'easters. These events can lead to heavy snow accumulation, ice dams, roof collapses and damage from falling tree limbs.
Homeowners insurance typically covers most winter storm-related damage, but it's essential to review your policy and understand any specific limitations or exclusions related to winter storm-related incidents. For example, flooding due to snowmelt may only be covered by a separate flood insurance policy.
Coastal storms and hurricanes
Rhode Island is susceptible to coastal storms and hurricanes because of its proximity to the Atlantic Ocean. These events can result in strong winds, heavy rainfall, storm surges and coastal flooding that cause significant damage to homes.
In general, there are two primary risks associated with these storms: wind damage and flood damage. Flood damage, as discussed above, is not included in standard homeowners insurance policies. Those living in coastal areas of Rhode Island will want to look into buying separate flood insurance.
You may have a separate hurricane deductible that kicks in when a hurricane warning is issued and remains in effect for 24 hours. In Rhode Island, your hurricane deductible can be a flat rate or a percentage of your dwelling coverage limit (or a combination of the two). Either way, it can’t exceed 5% of your home’s insured value. So if your home has $300,000 worth of dwelling coverage, you could have a hurricane deductible up to $15,000.
While rare, earthquakes can happen in Rhode Island. Even minor seismic activity can cause structural damage to homes, including foundation issues and cracks in walls.
Standard homeowners insurance policies typically do not cover earthquake damage. If you are concerned about the risk of an earthquake to your home, consider purchasing separate earthquake insurance.
When buying earthquake insurance, pay attention to the deductibles so you know the potential out-of-pocket costs. Your earthquake insurance often has a separate deductible, which can be around 5% to 25% of the coverage on your policy. For example, if you have a 20% deductible on $200,000 of coverage, you would need to pay a $40,000 deductible for earthquake damage before your insurance kicks in.
Rhode Island insurance department
The Insurance Division of the state's Department of Business Regulation oversees the insurance industry in the state. In addition to providing consumer resources that answer common questions about insurance, the site also includes an online form that allows you to file a complaint against your insurer. Contact the division with questions by email at [email protected] or by phone at 401-462-9520.
Looking for more insurance? Check out the cheapest car insurance in Rhode Island.
Amanda Shapland contributed to this story.
NerdWallet averaged rates for 40-year-old homeowners from various insurance companies in every ZIP code across the state. All rates are rounded to the nearest $5.
Sample homeowners were nonsmokers with good credit living in a single-family, two-story home built in 1984. They had a $1,000 deductible and the following coverage limits:
$300,000 in dwelling coverage.
$30,000 in other structures coverage.
$150,000 in personal property coverage.
$60,000 in loss of use coverage.
$300,000 in liability coverage.
$1,000 in medical payments coverage.
We made minor changes to the sample policy in cases where rates for the above coverage limits or deductibles weren’t available.
We changed the credit tier from “good” to “poor,” as reported to the insurer, to see rates for homeowners with poor credit.
These are sample rates generated through Quadrant Information Services. Your own rates will be different.
Star rating methodology
NerdWallet’s homeowners insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, coverages, discounts and online experience. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our full homeowners insurance rating methodology.
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2019-2021. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.