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Rhode Island Homeowners Insurance Quotes

Rhode Island is the smallest state in the country when it comes to area size, but it packs a huge punch when it comes to quality of life. It has 400 miles of coastline with Newport as its crown jewel. Considered the sailing capitol of the world by many, Rhode Island’s coastline is dotted with Guided Age mansions as well as award winning restaurants.

Newport is not the only jewel in Rhode Island’s crown, Washington County has pristine beaches that will make you want kick off your shoes and get some sand in your toes. East Bay is a beautiful place to bike on a lovely coastal bikeway and Warwick is a shopper’s paradise.

Rhode Island is the eighth least populous state in the country but the second most densely populated. If you are thinking about moving to Rhode Island, you can’t go wrong. It doesn’t matter if you are considering a small town like Jamestown or one of our bigger cities such as the Providence you will not regret making the move to The Smallest State.

Rhode Island Facts

Rhode Island currently has a population of 1,052,567. This breaks down to 4,758 households per zip code and the average number of people living in a household is three. The average household income in Rhode Island is a very respectable $40,766 regardless of whether you live in Bristol County or Kent County.

The cost of home ownership in Rhode Island is very affordable with the median house price coming in at $119,896.

Homeowners Insurance in Rhode Island

Unfortunately, all of our coastline comes at a cost. Homeowners insurance in Rhode Island is on the pricey side. The average premium runs $1,334, which is almost 22 percent above the national average.

There are ways to help drive down the cost of your insurance premium, everything from bundling your coverage to upgrading your home can make your home insurance more affordable. Here are few tips to help lower your insurance costs:

Shop Around: This is number one on most experts list. Shop your coverage with at least six insurance companies and make sure you are comparing apples to apples when it comes to the deducible and coverage levels. We can help you find a great policy and our national insurance partners will send their best quotes directly to your inbox.

Discounts: Discounts offered by insurance companies can shave your premium down significantly. It doesn’t matter if you live in Warwick or Smithfield, there are plenty of home insurance discounts available. Bundling, staying claim free and adding a security system will all result in a discount on your premium.

Upgrade Your Home: If you live on the coast or in an area that is prone to storm or hail damage, upgrading your home with a wind and hail resistant roof and storm shutters can garner you a major discount.

Most consumers are not aware that there are a number of different homeowner insurance policy types, each one is designed for a specific type of dwelling. Here is a quick overview of a few homeowner policy types:

HO-3: This is the most common type of policy. It protects a standard home and covers damage from all perils except ones that are specifically excluded in the wording of the policy. It’s important to note that all homeowner policies exclude flood and earthquake damage.

H0-6: If you live in a condo or co-op, this is the type of coverage you need. It protects your personal property and also covers the specific areas of the building that you own.

HO-4: This is often referred to as renters insurance and will protect all of your personal property in your apartment. It also offers liability coverage in the event that someone is injured in your apartment.

Factors to Consider in Rhode Island

Coastal weather can be a major factor when it comes to homeowner rates. Hurricanes and hailstorms can cause major damage to your home and these types of storms push up rates for everyone.

It is important to remember that homeowners insurance should be saved for major events. Numerous small claims on your policy will push up your rates much more than one large claim. Industry experts recommend paying for small damage out of pocket and saving your insurance for major events.

If you are considering a move to Rhode Island, whether it West Greenwich or Pawtucket we can help you find a great homeowners policy at an affordable price. Our national insurance partners will send quotes directly to your inbox so you can compare them at your leisure and find the best policy for your specific needs.

Get started now, contact us and start shopping for a great homeowners policy.

Average Homeowners Insurance Premiums in Rhode Island

With over 95% of all Americans are known to have homeowners insurance coverage, it's important to know what Rhode Island homeowners are paying on average. Did you know that the average homeowners insurance premium in Rhode Island is $1788? Rhode Island is now ranked 5 in the country. The country wide average for homeowners in the United States is $1,311. This means the average home insurance premium in Rhode Island is 36.38% more than the national average.

YearAverage Annual PremiumAverage Monthly PremiumState Rank (Overall)
2020$1788 (3.3%)$ 1495
2019$1731 (6.2%)$ 1445
2018$1630 (4.97%)$ 1365
2017$1551 (3.61%)$ 1296
2016$1496 (3.4%)$ 1257

When we combine the state averages over the last decade, the Rhode Island overall average is estimated to be around $1,429.40. Our homeowners insurance quoting and rating process helps you compare homeowners insurance quotes, coverages and premiums. Rhode Island current state rank compare to the rest of the country is #5. Consider shopping your Rhode Island home insurance with us so we can help you save up to 40% or more on your policy.

Find Local RI Homeowners Insurance Quotes & Coverage

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Rhode Island Homeowners Insurance News & Information

  • Largest Insurer in California – Travelers Announces Home Insurance Rates Going Up 15% Posted on Monday 20th May, 2024

    Travelers Insurance, which is one of the largest insurers in California, recently announced that they will be raising premiums by an average of 15% in the Golden State. This is just the latest rate increase or policy limitation by major insurance companies who blame the increases on spreading wildfire risks, inflation, and the cost of […]

  • Should I raise my deductible to $10,000 to help offset the cost of rising premiums? Posted on Wednesday 15th May, 2024

    According to industry reports, homeowners are raising their deductibles to $5,000 to $10,000 to help offset the cost of rising premiums.  While raising a deductible into the stratosphere will absolutely lower your homeowner insurance premium, it does mean that you will have to cover your deductible amount in the event you have to make a […]

  • Should I choose the minimum or maximum homeowners insurance coverage? Posted on Monday 13th May, 2024

    As homeowner insurance rates rise across the country, some homeowners are opting for policies that offer minimal coverage to keep their premiums affordable. Unfortunately, this choice will leave them at higher risk and in a position where they may have to pay more out of pocket if they have to make a claim on their […]

  • Texas is Seeing Major Increases in the Cost of Homeowners Insurance Posted on Tuesday 7th May, 2024

    Like much of the rest of the country, Texas is seeing major increases in the cost of homeowners insurance. According to an article in Austin American-Stateman, residents of Texas have seen their insurance rates go up 50.9% on average which is the largest increase in the country for that time period. Unfortunately, experts are predicting […]

  • 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 […]

Rhode Island Housing & Real Estate Data

Total Housing Units463388
Occupied Housing Units413600
Vacant Housing Units49788
Vacant Housing Units for Rent15763
Vacant Housing Units Rented Not Occupied727
Vacant Housing Units For Sale5171
Vacant Housing Units Sold Not Occupied1219
Vacant Housing Units For Seasonal Occasional Use17077
Vacant Housing Units All Other Vacants9831
Housing Units Homeowner Vacancy Rate Percent2
Housing Units Rental Vacancy Rate Percent8.8
Housing Tenure Occupied Units413600
Housing Tenure Occupied Units Owner Occupied250952
Housing Tenure Occupied Units Owner Occupied Population650674
Housing Tenure Occupied Units Owner Occupied Averge Household Size2.59
Housing Tenure Occupied Units Renter Occupied162648
Housing Tenure Occupied Units Renter Occupied Population359230
Housing Tenure Occupied Units Renter Occupied Average Household Size2.21

Understanding Rhode Island Homeowners Insurance

When shopping for Rhode Island homeowners insurance quotes you should be aware of the various types of insurance policies that are available in your area:

  • HO-3: This is the most common type of homeowers policy. This policy type protects your home against all perils, except ones that are specifically excluded. In most cases earthquake and flood damage are excluded.
  • H0-6: This policy type is specifically written for condos or co-ops. If you own a condo or live in a co-op building this type of policy is a necessity. A HO-6 policy covers both your personal belongings and the structural parts of the building that you own. There are 16 disasters listed on a typical policy that HO-6 protects against.
  • HO-4: If you are looking for Rhode Island renters insurance, a HO-4 policy is a great option. Renters insurance will cover your contents as well as offer liability coverage in the event a person is injured in your apartment.

While other types of policies exist, these are the most common ones. A HO-2 is a more basic policy that offers reduced coverage levels and a HO-5 is a high-end policy that offers increased protection.

If you are shopping for a new home in Rhode Island, homeowners insurance is a must do. We can help you find the perfect policy for your new home, regardless of whether you need a standard HO-3 policy, HO-6 or renters insurance, our site makes shopping for homeowners insurance quotes easy. Visit our online quoting application today and let us help you shop and compare up to 12 different Rhode Island rates and coverage options.