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Home Insurance Rates in 02840

For homeowners shopping online in 02840, our insurance rates are very competitive for homeowners living in Newport, RI. Many homeowners based out of the great city of Newport have found it very easy to shop with The reason is because we clearly showcase the carriers that we will shop for you. Plus, our home insurance quotes are free and our Rhode Island licensed agents can provide a free consultation service to you that allows you to ask questions about which rates and coverage options are best suited for you and your family. To get free home insurance quotes in 02840, simply click the "Get Multiple Quotes Now" button. Your 02840 should appear in the zip code field ready to go. We only need some basic home information to start running multiple quotes for you. Newport, RI Home Insurance Rate Quotes are available for you, we easily review and compare multiple coverage and rate options.

02840 Home Insurance Rating is: Very High!

If you live in 02840, you can easily save up to 40% off the average home insurance premium of $1325 a year by letting us help you compare the best rate and coverage option for your home. We can compare up to 12 major top rated home insurance companies all at once. We also will do a professional analysis to determine which coverage is best suited to cover the risk that you need. Home insurance in Newport can come in a variety of different packages, it's important to understand which homeowners policy is best. Let us help you compare home insurance rates in 02840 today!

Get Multiple Home Insurance Rates in 02840!

02840 Home Insurance Average Premiums

Local 02840 homeowners insurance quotes comparison

$1075 /yr.

Shows Zip Code: 02840 lowest rates with discounts applied on average.

For the 02840, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:Annual Premium
1800 sq. ft. or below
(discounts applied)
$1075 /yr.
Average Coverage:$1325 /yr.
2600 sq. ft. or higher
(all discounts applied)
$1625 /yr.

What is the average home insurance cost for a home in 02840?

  • • The average homeowners insurance premium paid annually for a home in 02840 is around $1325 per year.

What does it cost on average per month for home insurance in 02840?

  • • Homeowners in 02840 pay a monthly average cost per month around $110.00.

What kind of discount could I get if I combine my home and auto insurance together in 02840?

  • • Autoowners in 02840 can receive a 20% to 25% discount if they own a home and would like to group or bundle their car and home insurance together with one insurance company.

For shopping home insurance rates within the Newport area, check out other zip codes nearby 02840.
Review average rates in another zip code:
02840 homeowners insurance rates
02841 homeowners insurance rates

Home Replacement Cost Coverage in 02840

Average Building Cost Per Square Foot in 02840: $210

Location: Newport, Rhode Island (Newport County)

Average Square Footage in 02840: 2,523 Sq. Ft.

When building or updating a home, it's always good to review the average cost per square foot to build in 02840 before you start any project. Newport homeowners pay on average around $210 per square foot to build a home. Another great reason to know the average cost to build is for your homeowners insurance policy. A standard homeowners policy will help you cover the replacement cost of your home due a fire or any other named perils on your policy. Calculating your dwelling coverage for your home in 02840 is extremely helpful when estimating how much replacement cost coverage you need. We highly recommend that you have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Here is how you determine your replacement cost. If we take an average home in 02840 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 2,523 sq. ft. and the average cost to rebuild the home in this area is around $210 per square foot would be considered a base estimate cost. These two numbers would allow us to generate the replacement cost needed for an average size home in the Newport area. If the home is new or has been upgraded, you will want to add $50 to $100 or more per square foot to equally cover the replacement cost to restore a home back to it's original condition.

Home Improvement StatusPrice per Sq. Ft.Square FeetDwelling Coverage
Basic Home Features$2102,523$529,900
Additional Upgrades & Added Features$2632,523$662,375
Major Home Updates or Advancements$3152,523$794,850

It's important to understand that when you estimate your replacement cost of your home in the 02840 zip code area, it will be the cost to replace the structure of your home, not the additional value of the property that is factored in when purchasing a new home.

Best Homeowners Insurance Agencies in 02840

Best Home & Auto Insurance Agencies in 02840

Newport Insurance Agency

Address: 221 3rd St Newport, RI 02840

Daniel F Dwyer III - Nationwide Insurance

Address: 38 Bellevue Ave Newport, RI 02840

Housing Demographics for 02840

Population Review for 02840 Zip Code

For the city of Newport, the population within 02840 has increased to over 24,461 residents in population size. The current population total is 23,902. We have broken down the population based on race below. In 02840, there are over 11233 in male population and 12669 females.

Total Population23,902
White Population18246
Black Population1337
Hispanic Population2832
Asian Population376
Hawaiian Population5
Indian Population207
Other Population1466
Male Population11233
Female Population12669
Population Estimate24461

Household Data for 02840

The average number of homes in 02840 is around 10,890, there are an average of 2.04 per household. The average house value according to local real estate values is around $529,900. Please review the following demographics below for average income and media age.

Housing / Income DataValues
Households Per Zipcode10,890
Persons Per Household2.04
Average House Value$529,900
Income Per Household$77042
Median Age39.9
Median Age Male38.9
Median Age Female40.8
02840 DetailsValues
State Full NameRhode Island
City TypeP
City Alias Abbreviation
Area Code401
City Alias NameNEWPORT
County FIPS005
State FIPS44
Time Zone5
Day Light SavingY
CBSA_NameProvidence-Warwick, RI-MA
DivisionNew England
Economic & Growth ReviewValues
Number Of Businesses1040
Number Of Employees11549
Business First Quarter Payroll130487
Business Annual Payroll624498
Business Employment Flag
Growth Rank0
Growth Housing Units 2003
Growth Housing Units 2004
Growth Increase Number0
Growth Increase Percentage0.0
Metropolitan DetailsValues
CBSA Population1600852
CBSA Division Population0
Congressional District01
Congressional LandArea268.49
Delivery Residential11991
Delivery Business1307
Delivery Total14280
Preferred Last Line KeyV25919
Classification Code
CSA NameBoston-Worcester-Providence, MA-RI-NH
City State KeyV25919
Land Area7.278000
Water Area3.375000
City Alias Code
City Mixed CaseNewport
City Alias Mixed CaseNewport
Box Count529
State ANSI44
County ANSI005
ZIP Intro
Alias Intro
Facility CodeP
City Delivery IndicatorY
Carrier Route Rate SortationD
Finance Number436020
Unique ZIP Name
SSA State County Code41020
Medicare CBSA Code39300
Medicare CBSA NameProvidence-Warwick, RI-MA
Medicare CBSA TypeMetro
Market Rating Area ID1
County Mixed CaseNewport

Rhode Island Homeowners Insurance News & Information

  • Homeowners Below a 580 Credit Score Pay 35% More for Home Insurance Posted on Monday 15th April, 2024

    While the odds of a major disaster hitting a specific home is the same regardless of whether the owner has a great credit score or one that puts them in a subprime category, their credit score will impact their rate in many states.  In most states, insurers are allowed to consider credit scores when setting […]

  • The Best Way to Check the Financial Strength of Home Insurance Companies Posted on Wednesday 3rd April, 2024

    If you are switching insurance companies, you should always check the financial strength of any insurer you are seriously considering. While an affordable premium is always a plus, if your insurance company cannot afford to pay when you file a claim, the savings will certainly not be worth it.  A.M. Best is a credit rating […]

  • Florida’s Broward Commissioner is Asking Congress to Lower Insurance Rates Posted on Monday 1st April, 2024

    A bill in the U.S. House called the Natural Disaster Reinsurance Plan, hopes to lower insurance costs for policyholders in states that opt-in to the program which will scale back the requirements regarding the amount of reinsurance that insurance companies need to purchase.  Currently, a Broward commissioner is asking Congress to pass legislation he claims […]