Best homeowners insurance in Rhode Island

Rhode Island is the smallest country state, but it has more than 1,000,000 residents. Nearly 61% of Rhode Island’s residents own their homes and pay $1,193 annually, or $99 per month for homeowners insurance. A homeowners insurance policy is an essential part of your financial plan.

Finding the best homeowners’ insurance in Rhode Island can be difficult. It requires research and knowledge of each state’s specific features. Bankrate’s editorial team conducted research to help you find the right Rhode Island home insurance policy.

Best Rhode Island home insurance companies

We first looked at average premiums from Quadrant Information Services when researching Rhode Island homeowners’ insurance companies. We reviewed the available coverage, discounts and any special features of each company like mobile apps or website functionality. J.D. was also considered. The 2020 Home Insurance Study has revealed the Power Customer Satisfaction Scores.

These companies may be worth a look when you are looking for Rhode Island’s best homeowners insurance.


Allstate is known for its unique add on coverages like green improvement coverage and sports equipment. Rhode Island residents may be eligible to receive discounts from the company and to enroll in the disappearing-deductible program to lower their out-of pocket expenses after a claim.

Narragansett Bay Insurance

Narragansett Bay Insurance, a Rhode Island-based insurance company, is one of the best. The company has the lowest premiums and may be a good fit for you if your budget is a priority. Many endorsements are offered by the company, including home systems protection and service-line coverage. Narragansett Bay Insurance offers flood coverage for homeowners, which is a rare option in the industry. A separate policy is usually required.

All over the country

If you’re looking for a policy that can be tailored to your needs, Nationwide might be the right fit. The company offers many optional coverages including credit card coverage, identity theft, and water backup. The Better Roof Replacement option, which will cover the cost of replacing your roof with stronger and safer materials following a covered loss, is unique. There are many discounts available that could help you reduce your premium.

State Farm

State Farm could be an excellent choice for Rhode Island homeowners looking for affordable coverage. State Farm has the second-lowest premium. Based on market share, State Farm is also the largest homeowner insurance company in the country. Homeowners looking for a policy may feel confident because of the company’s history. State Farm offers additional savings by offering a variety discounts.

UPC Insurance

UPC Insurance is a specialist in coastal home insurance. You could receive strong coverage for Rhode Island residents through endorsement packages. To complete your coverage, you may want to purchase specialty coverages like equipment breakdown and service line coverage. You may be eligible for a discount if you have storm mitigation measures like storm shutters and impact resistant doors.

What is the cost of homeowners insurance in Rhode Island

For a policy that covers $250,000 of dwelling coverage, Rhode Island home insurance will cost $1,193 annually. The average cost for home insurance in America is $1,312 annually.

Home insurance costs in Rhode Island are comparable to those in neighboring states. Home insurance in Rhode Island costs $1,307 annually in Massachusetts, and $1,184 per year in Connecticut. Rhode Island homeowners need to be aware of certain factors when purchasing home insurance.

Rhode Island home insurance

Rhode Island is close to the coast and therefore at greater risk for storm surge, hurricane, and flood damage. You can create the policy that suits your needs by understanding the most common losses in Rhode Island.

Common Loss Causes in Rhode Island

According to the Insurance Information Institute, property and casualty loss in Rhode Island reached $1.4 billion in 2019. The following are the top causes of state damage:

  • Flooding: Rhode Island’s entire state is at high risk of flooding due to its location on the coast. Floods are not covered under homeowners insurance so home insurance premiums do not change. It can, however, impact the coverages and add-on policies that you purchase.
  • Water damage: Other types of damage are also quite common in Rhode Island, including rainwater backup and damage from the rain.
  • Hurricanes and windstorms – Rhode Island, like the rest of New England’s coast states, is often in the path hurricanes which can cause extensive and devastating damage.

It is important to understand the most common losses in your area before you purchase homeowners insurance. You may be better equipped to select coverages once you have identified the potential losses to your property.

Options for home insurance in Rhode Island

The majority of homeowners insurance policies in Rhode Island include basic coverages like dwelling, personal property and liability. They also cover medical payments and loss-of-use coverage. You might also consider buying endorsements to add more protection such as:

  • Flood insurance: Standard homeowners insurance policies do not cover flood damage. You may be offered a flood insurance endorsement by some companies, but this will usually require you to buy a separate policy.
  • Water backup coverage: This endorsement will provide coverage if water backs up into the drain or sewer line and causes damage to your property or home.
  • Debris removal coverage: While most policies provide a minimum amount of coverage for debris removal, you might want to increase it. This coverage can help you pay for debris removal from your property following a storm or other covered loss.
  • Dwelling replacement costs coverage: This coverage pays for the entire cost of replacing your home’s structure, rather than depreciation.

When you’re choosing coverage, it may be a good idea to consult an insurance professional. Agents often have the expertise to help you assess your situation and choose the right endorsements and coverage levels.

Questions frequently asked

What is the best homeowner insurance in Rhode Island

There is no one homeowners insurer that will be the best for everyone. It might help to create a list of all the features, discounts, and coverages you want when you shop for insurance. To find the right option for you, you can request quotes from companies matching your criteria.

How can I obtain homeowners insurance in Rhode Island

You will need to obtain quotes in order to get Rhode Island homeowners insurance. You can often obtain quotes online. However, you might need to contact a company or visit an agency depending on which insurance company you choose. You will need your birth date, address, and any details about your home such as its age, roof age, and special features. After you have chosen the quote you wish to purchase, you will be able to work with a representative and start your policy.

What amount of home insurance do I need?

Your lender may require that you have sufficient dwelling coverage to cover your mortgage or home loan in the event of a home loss. You have greater flexibility in determining the coverage level of your home if you own it. Most insurance professionals recommend that you have enough coverage to cover the entire rebuilding cost of your house.

It may prove useful to consider your liability exposure before you purchase a policy. A representative should be able help you select the right coverage amount.