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Whether you’re buying a new home or safeguarding the one you already own, it’s important to have comprehensive homeowners insurance. However, the amount you’ll pay depends on the insurance company and the coverage limits you choose.
Homeowners insurance in Rhode Island costs an average of $1,932 a year, according to Insure.com’s study.
Read this guide to learn more about the average homeowners insurance rates in Rhode Island by insurance company and ZIP code.
Key Takeaways
- Homeowners insurance costs an average of $1,932 a year, based on our analysis.
- Of all the ZIP codes in Rhode Island, 2864 has the most affordable home insurance rates at around $1,745 annually.
- In Rhode Island, State Farm provides the most affordable home insurance at an average annual premium of $1,436.
Average home insurance cost in Rhode Island by coverage level
In Rhode Island, the annual homeowners insurance cost is $1,932, on average for the limits of $100,000 in liability, $300,000 in dwelling coverage and a $1000 deductible.
Increasing your dwelling coverage from $300,000 to $400,000 will raise your annual homeowners insurance premium to $2,363 in Rhode Island, with $100,000 in liability protection and a $1,000 deductible. Below are the average costs for homeowners insurance in Rhode Island based on dwelling coverage limits of $300,000, $400,000, and $500,000.
| Coverage | Average annual rate | Average monthly rate |
|---|---|---|
| $200,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible | $1,489 | $124 |
| $200,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible | $1,505 | $125 |
| $300,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible | $1,932 | $161 |
| $300,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible | $1,950 | $162 |
| $400,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible | $2,363 | $197 |
| $400,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible | $2,381 | $198 |
| $600,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible | $3,306 | $276 |
| $600,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible | $3,327 | $277 |
| $1,000,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible | $5,211 | $434 |
| $1,000,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible | $5,235 | $436 |
In Rhode Island, homeowners insurance companies set rates by assessing various risk factors. Your location, claims history, credit history and coverage limit all affect your premium.
If multiple claims have been filed in your neighborhood over the past few years, you’ll likely face higher home insurance rates than areas with fewer claims. Your credit score can also play a role in determining your home insurance costs.
According to S&P Global Market Intelligence’s RateWatch application, the average homeowners insurance premium for owner-occupied homes nationwide increased by over 11% in 2023.
Best homeowners insurance companies in Rhode Island
It’s always a good idea to shop around and compare prices before purchasing homeowners insurance. Several factors come into play when choosing the best homeowners insurance company.
We evaluated homeowners insurance providers in Rhode Island by comparing their NAIC scores and AM Best ratings and compiled a list of the top insurers in the state. Based on Insure.com’s analysis, State Farm received the lowest NAIC score and an AM Best rating of A++. A lower NAIC score signifies fewer complaints relative to the company’s size, indicating greater customer satisfaction.
| Company | Average annual premium | AM Best rating | NAIC Complaint Index | Overall score |
|---|---|---|---|---|
| State Farm | $1,436 | A++ | 0.95 | 5 |
| Pure Companies Grp | $1,807 | A++ | 0.08 | 4.73 |
| Corebridge Direct | $1,607 | A | 0.09 | 4.67 |
| Nationwide | $2,019 | A+ | 0.87 | 4.19 |
| Allstate | $2,026 | A+ | 0.9 | 4.18 |
| Andover Insurance | $2,417 | A | 0.08 | 3.65 |
Average homeowners insurance cost by company in Rhode Island
State Farm has the cheapest homeowners insurance rates in Rhode Island. Its average annual cost for Rhode Island homeowners is $1,436. Corebridge Direct and PURE also offer affordable insurance.
By comparing homeowners insurance rates, you could save hundreds, if not thousands, of dollars annually.
The table below shows the average annual and monthly insurance rates for homeowners in Rhode Island with $300,000 in dwelling coverage, $100,000 in liability coverage, and a $1,000 deductible.
| Company | Average annual rate | Average monthly rate |
|---|---|---|
| State Farm | $1,436 | $120 |
| Corebridge Direct | $1,607 | $134 |
| PURE | $1,807 | $151 |
| Nationwide | $2,019 | $168 |
| Allstate | $2,026 | $169 |
| Amica | $2,215 | $185 |
| Andover Insurance | $2,417 | $201 |
Rhode Island homeowners insurance rates by ZIP code
Insurance providers in Rhode Island factor in the risk of a given location when determining rates. ZIP codes with higher crime rates or frequent natural disasters are typically classified as high-risk, leading to increased premiums. Additionally, the cost of rebuilding or repairing homes in that area can affect your homeowners insurance costs.
To get the best deal on homeowners insurance rates in Rhode Island, take the time to shop around and compare quotes from multiple insurers. Additionally, don’t forget to ask about potential discounts, like bundling policies or a smart home discount.
Most affordable ZIP codes for home insurance rates in Rhode Island
Home insurance costs vary across different areas in Rhode Island. What you pay for homeowners insurance depends on several factors, including your ZIP code. According to our data, the 2864 ZIP code has the lowest home insurance rates in Rhode Island, at $1,745 annually or $145 per month.
Here are the homeowners insurance rates for some of the most affordable ZIP codes in Rhode Island.
| ZIP code | Average annual rate | Average monthly rate |
|---|---|---|
| 2864 | $1,745 | $145 |
| 2895 | $1,753 | $146 |
| 2838 | $1,794 | $150 |
| 2826 | $1,802 | $150 |
| 2858 | $1,804 | $150 |
| 2876 | $1,807 | $151 |
| 2830 | $1,809 | $151 |
| 2839 | $1,812 | $151 |
| 2824 | $1,817 | $151 |
| 2859 | $1,824 | $152 |
Most expensive ZIP codes for home insurance rates in Rhode Island
Your ZIP code is a key factor in determining the cost of your homeowners insurance coverage. In Rhode Island, certain areas have higher insurance premiums due to elevated crime rates, increased risk of natural disasters, and higher living costs.
2882 has the most expensive homeowners insurance rates in Rhode Island at an average annual cost of $2,184.
Below, we’ve highlighted some of the most expensive ZIP codes in Rhode Island for home insurance:
| ZIP code | Average annual rate | Average monthly rate |
|---|---|---|
| 2882 | $2,184 | $182 |
| 2841 | $2,179 | $182 |
| 2813 | $2,173 | $181 |
| 2891 | $2,168 | $181 |
| 2881 | $2,150 | $179 |
| 2835 | $2,126 | $177 |
| 2872 | $2,123 | $177 |
| 2837 | $2,122 | $177 |
| 2801 | $2,121 | $177 |
| 2840 | $2,094 | $175 |
Home insurance rates vary from one city to another. But with Insure.com, finding the right home insurance policy is easy. Learn more about homeowners insurance costs for different cities below.
Home insurance rates in Rhode Island by city
Home insurance rate trend in Rhode Island
We analyzed home insurance rate trends in Rhode Island and found that homeowners insurance rates experienced an overall increase of 10% or $176, from 2022 to 2023.
The data below shows how much homeowners insurance rates have changed since 2019.
| 2019 rates | 2022 rates | 2023 rates |
|---|---|---|
| $1,859 | $1,756 | $1,932 |
To choose the right homeowners insurance, it’s important to conduct thorough research and compare rates from various insurers, as each evaluates risk differently. Comparing quotes from at least three companies can help you secure the most affordable coverage in Rhode Island.
Resources & methodology
Source
S&P Global. “US homeowners insurance rates jump by double digits in 2023.” Accessed April 2025.
Methodology
Insure.com worked with Quadrant Information Service to get homeowners insurance data. We analyzed 20,739,560 insurance quotes from 82 national and regional insurance companies across 34,588 ZIP codes to determine the average premiums.
The insurance rates are based on a sample profile of a homeowner with good credit and the following coverage level:
- $300,000 dwelling coverage
- $100,000 liability protection
- $1000 deductible
We have taken into account 3 important factors such as average annual cost, NAIC score and AM Best rating, to determine the list of best homeowners insurance companies. The quoted insurance rates are for comparison purposes, and your individual rates may vary.
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