Average homeowners insurance cost in Rhode Island

Why you can trust Insure.com

Quality Verified

At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

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

The average cost of homeowners insurance in Rhode Island is $1,932 per year for the coverage limits of $300,000 dwelling coverage and $100,000 liability with a $1,000 deductible.

However, if you increase the dwelling coverage limit from $300,000 to $400,000, you will pay $2,363 per year for homeowners insurance in Rhode Island for $100,000 in liability protection and $1,000 deductible. Below, you can find the average cost of homeowners insurance in Rhode Island for dwelling coverage 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

Homeowners insurance companies in Rhode Island decide rates based on risk. They consider your location, claims history, credit history and coverage limit when calculating premiums.

If your neighborhood has seen many claims over the past few years, you can expect to pay higher home insurance rates than an area with few to no 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 wise to shop around and compare prices before you buy homeowners insurance. There are many factors that go into deciding the best homeowners insurance company.

We have compared the insurers in Rhode Island using their NAIC score and AM Best rating and compiled a list of the best homeowners insurance in Rhode Island. Based on the analysis, State Farm received the lowest NAIC score and A++ rating from AM Best. A lower NAIC score indicates fewer complaints relative to the company’s size, suggesting higher 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
AIG	$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 offers the most affordable homeowners insurance in Rhode Island, at an average annual premium of $1,436, followed by AIG and PURE.

You can save hundreds — if not thousands — of dollars each year if you shop around for homeowners insurance.

Here are the average annual and monthly insurance rates for Rhode Island homeowners for a policy with $300,000 dwelling coverage and $100,000 liability protection with a $1,000 deductible.

Company	Average annual rate	Average monthly rate
State Farm	$1,436	$120
AIG	$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

Not every area in Rhode Island has the same home insurance cost. How much you pay for homeowners insurance in Rhode Island depends on many factors, including your ZIP code. Our data shows that 2864 ZIP has low-cost home insurance rates in Rhode Island, at about $1,745 a year or $145 monthly.

Below you can find 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

In Rhode Island, certain areas experience higher premiums because of higher crime rates, increased risk of natural disasters and the cost of living.

Homeowners in 2882 ZIP pay the highest insurance rates in Rhode Island, with an average annual premium of $2,184.

Below is a list of some of the most expensive ZIP codes in Rhode Island for homeowners 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

See rates in your city

Cranston

Providence

Warwick

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 below data shows how much homeowners insurance rates have changed since 2019.

2019 rates	2022 rates	2023 rates
$1,859	$1,756	$1,932

To find the right homeowners insurance, research thoroughly and compare costs from multiple insurers, as they assess risk differently. Getting quotes from at least three companies helps ensure you get the most affordable coverage in Rhode Island.

Resources & methodology

Source

S&P Global. “US homeowners insurance rates jump by double digits in 2023.” Accessed September 2024.

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.

Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.