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Best Rhode Island Homeowners Insurance Quotes (2025)

State Farm offers some of the cheapest homeowners insurance policies in Rhode Island, with average monthly premiums of $120 for a policy with $300,000 in dwelling coverage.

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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.

Quick Facts

  • 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.

Best home insurance companies in Rhode Island

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.

  • 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.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 55,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Cheapest rates: State Farm

Best for customer satisfaction: Amica

Best for high-value homes: AIG

Best for coverage options: Nationwide

Cheapest home insurance in Rhode Island

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.

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Cost of homeowners insurance in Rhode Island

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.

Cost of homeowners insurance by dwelling coverage amount

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.

Cost of homeowners insurance by deductible

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.

How to get cheap homeowners insurance in Rhode Island

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.

How much homeowners insurance do you need in Rhode Island?

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.

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What are some of the biggest risks when owning a home in Rhode Island?

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:

Rhode Island homeowners insurance FAQs

The following information can help answer your remaining questions about finding the best homeowners insurance in Rhode Island for your specific coverage needs.

  • How much is home insurance in Rhode Island?

    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.

  • Which company has the cheapest homeowners insurance in Rhode Island?

    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.

  • Does Rhode Island require homeowners insurance?

    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.

  • What is the most common type of homeowner insurance?

    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.

Elizabeth Rivelli
Elizabeth Rivelli

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.

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