Rhode Island's average home insurance premium costs $174 monthly or $2,089 annually. That's $115 less per month than the national average, making it 40% cheaper than most states. Rhode Island ranks as the 30th most expensive state for home insurance coverage.
Average Home Insurance Cost in Rhode Island
Updated: January 29, 2026
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Key Takeaways: Rhode Island Home Insurance Rates
Rhode Island homeowners pay an average of $174 monthly or $2,089 annually for home insurance, ranking 30th nationally for affordability.
Calculate your coverage needs, compare multiple quotes and research providers to find the best Rhode Island home insurance rates.
MoneyGeek's free home insurance calculator helps you estimate Rhode Island costs in seconds without entering personal information.
How Much Is Home Insurance in Rhode Island?
| Rhode Island | $2,089 | $3,467 | -40% |
*These rates are for a frame construction home built in 2000 with $250,000 dwelling, $125,000 personal property, $200,000 liability coverage and a $1,000 deductible.
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$220
High
$144
Average
$104
Low
Rates updated:
Feb 07, 2026
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What Affects Average Rhode Island Home Insurance Costs?
Several factors affect home insurance costs in Rhode Island. Your location, coverage limits, construction materials, insurance company, credit score and claims history all influence your premium. Each factor changes what you pay for coverage.
Average Cost of Rhode Island Home Insurance by Company
Rhode Island home insurance rates range from $98 to $289 monthly, depending on your insurer. State Farm and Amica charge the lowest premiums at $98 and $113 per month, while Allstate charges the highest rate at $289. Compare at least three providers to save more than $2,000 annually.
| State Farm | $98 | $1,181 |
| Amica | $113 | $1,350 |
| AIG Insurance | $148 | $1,772 |
| Farmers | $172 | $2,066 |
| PURE | $174 | $2,094 |
| Nationwide | $185 | $2,222 |
| The Andover Companies | $213 | $2,558 |
| Allstate | $289 | $3,472 |
Average Rhode Island Homeowners Insurance Pricing by Coverage Level
Rhode Island homeowners insurance costs depend on your coverage choices, with annual premiums from $1,186 to $7,101. Higher coverage limits and lower deductibles increase your premiums. Lower coverage amounts and higher deductibles reduce your costs.
| $100K Dwelling / $50K Personal Property / $100K Liability | $99 | $1,186 |
| $250K Dwelling / $125K Personal Property / $200K Liability | $174 | $2,089 |
| $500K Dwelling / $250K Personal Property / $300K Liability | $303 | $3,640 |
| $750K Dwelling / $375K Personal Property / $500K Liability | $446 | $5,348 |
| $1MM Dwelling / $500K Personal Property / $1MM Liability | $592 | $7,101 |
Average Rhode Island Home Insurance Cost by City
Your Rhode Island home insurance costs depend on where you live. North Smithfield residents pay $162 monthly, the lowest rate among major cities. Cranston homeowners spend $171 per month. Providence and Wakefield residents pay slightly higher rates at $179 and $180 monthly. Flooding exposure and property crime rates drive these differences.
| Cranston | $171 | $2,049 |
| North Smithfield | $162 | $1,941 |
| Providence | $179 | $2,151 |
| Wakefield | $180 | $2,155 |
Average Rhode Island Home Insurance Cost by Credit Score
Credit scores affect home insurance costs in Rhode Island. Insurers view higher credit scores as lower risk and charge lower premiums. Annual rates range from $1,271 to $3,002 based on your credit profile.
| Excellent | $106 | $1,271 |
| Good | $174 | $2,089 |
| Below Fair | $196 | $2,355 |
| Poor | $250 | $3,002 |
Rhode Island Homeowners Insurance Costs by House Age
Older Rhode Island homes cost $179 monthly to insure, compared to $126 for newer properties. That's a $53 monthly difference or $636 in annual savings. Updated building codes and modern materials in newer homes reduce damage risk, lowering insurance costs.
| Newer | $126 | $1,518 |
| Middle Age | $174 | $2,089 |
| Older | $179 | $2,151 |
Why Is Home Insurance So Affordable in Rhode Island?
Rhode Island homeowners pay $2,089 annually for home insurance, 40% below the national average of $3,467. Despite its coastal location, Rhode Island's compact size and low wildfire risk result in competitive premiums.
Lower Wildfire Risk
Rhode Island faces minimal wildfire threat compared to Western states. The state recorded only 200 hectares of loss from fires, with the most loss occurring in 2016 at 74 hectares, according to the Global Forest Watch. This reduces insurers' catastrophic loss exposure substantially, so they offer lower premiums than in fire-prone regions like California or Colorado.
Strong Building Code Enforcement
Rhode Island enforces the 2021 International Residential Code with amendments specific to coastal wind protection. The state requires wind-resistant construction standards for all coastal zones, reducing damage from hurricanes and nor'easters. Modern building codes minimize claim severity when storms occur, keeping insurance costs manageable despite weather exposure.
Smaller Geographic Footprint
Rhode Island's compact 1,214 square miles allow efficient insurance operations and concentrated risk assessment. Insurers manage claims more cost-effectively across smaller territories, and Rhode Island's limited tornado activity reduces severe weather claim frequency. The state's size means fewer extreme regional variations in risk exposure.
Tips to Save on Rhode Island Home Insurance
Use our tips to find the cheapest home insurance in Rhode Island.
- 1Calculate Your Coverage Needs
Many Rhode Island homeowners overpay by insuring their home's market value instead of its reconstruction cost. Calculate replacement cost using current construction prices. Inventory your belongings to determine personal property coverage.
Coastal residents in Providence face water damage risks and need backup coverage. Newport homeowners with valuables need scheduled item protection.
- 2Research Costs and Discounts
Without knowing fair rates for your location, you can't identify overpricing. MoneyGeek's free Rhode Island calculator provides instant estimates based on your home details. Ask insurers about security system discounts, new home discounts and claim-free history credits when gathering quotes.
Warwick and Cranston residents often qualify for multiple discounts at once.
- 3Compare Multiple Providers
Don't accept the first quote — Rhode Island homeowners who do pay hundreds more each year. Get at least three quotes and compare customer satisfaction ratings with premiums. Check AM Best financial ratings and read claims service reviews. That $50 monthly savings won't matter if your insurer denies valid claims or leaves you hanging during Rhode Island's storm season.
- 4Bundle Insurance Policies
Separate home and auto policies mean you miss bundling discounts. Bundling home and auto with one insurer reduces rates by 10% to 25% in Rhode Island. Pawtucket and East Providence homeowners save $200 to $500 annually with multi-policy discounts without sacrificing coverage quality.
- 5Lower Your Risk Profile
Rhode Island insurers reward risk reduction with lower premiums. Security systems, smoke detectors and storm shutters cut costs while protecting your property. A claim-free five-year record saves $333 to $613 annually. Better credit saves you money. Raise your score from below fair to good and cut your premium by 11%.
REVIEW YOUR COVERAGE ANNUALLY DURING HURRICANE SEASON
Schedule a yearly policy review each June before hurricane season peaks. Rhode Island gets tropical storms and hurricanes from June through November, with September showing the highest activity. Verify your dwelling coverage reflects current reconstruction costs, which rise 3% to 5% annually. Check that your deductible matches your emergency fund capacity; a higher deductible lowers premiums but requires more cash reserves if you file a claim. Use this annual review to ask about new discounts and confirm your policy covers Rhode Island's coastal weather risks.
Calculate Rhode Island Homeowners Insurance Costs: FAQ
Rhode Island homeowners insurance costs differ based on your property, location and coverage needs. This FAQ explains what affects your rates and help you understand potential expenses for your home insurance policy.
How much will my premium increase after filing a claim in Rhode Island?
Filing a claim in Rhode Island costs you more in the long run. One claim increases your premium by $333 annually, while two claims bump it up by $612. Rhode Island homeowners without claims pay $2,089 per year on average. One claim raises that to $2,422, and two claims push your annual cost to $2,702. Claims remain on your record for five years, so you'll face these higher rates throughout that entire period.
How much can I save by choosing a different insurer in Rhode Island?
Shopping around for home insurance in Rhode Island saves you thousands of dollars annually. State Farm charges $1,181 per year while Allstate costs $3,472 annually for comparable coverage. That's a $2,291 difference.
Even mid-tier insurers show notable differences. Farmers costs $2,066 annually while PURE charges $2,094, a $28 gap. Compare quotes from at least three insurers to find your best rate.
Does Rhode Island home insurance cover hurricane damage?
Standard Rhode Island home insurance covers wind damage from hurricanes through your dwelling and personal property coverage. However, most policies exclude flood damage caused by hurricane storm surge, requiring separate flood insurance through FEMA's National Flood Insurance Program. Coastal Rhode Island homeowners should purchase flood coverage since standard policies won't pay for water damage from hurricanes.
Why does home insurance cost more for older homes in Rhode Island?
Home insurance costs jump for older properties in Rhode Island. Older homes cost 42% more to insure than newer ones. A newer home built around 2020 averages $1,518 annually, while an older home from around 1980 costs $2,151 per year. That's a $633 gap. Middle-aged homes built around 2000 fall between these extremes at $2,089 annually.
Older homes carry higher premiums because they have greater risks from aging systems and materials. Outdated wiring, plumbing and roofing fail more often and trigger insurance claims. These homes also cost more to repair since they often need specialized parts or skilled craftsmen familiar with older construction methods.
How can I lower my home insurance costs in Rhode Island?
Rhode Island homeowners cut insurance costs in several ways. Shop around, as premiums differ between insurers for identical coverage. Maintaining a claim-free record saves you $333 annually compared to filing one claim and $612 versus two claims over five years.
Raising your deductible from $500 to $1,000 reduces your annual premium by $152. While higher deductibles mean more out-of-pocket costs during claims, you save money each year. Contact insurers about discounts for policy bundling, security systems or newer home features. Every discount reduces your annual premium.
How We Analyzed Rhode Island Home Insurance Rates
MoneyGeek calculated Rhode Island home insurance estimates using real rate data from multiple insurers. We built our analysis around a standard homeowner profile to ensure accurate comparisons across different risk factors.
Our baseline profile includes $250,000 in dwelling coverage, $125,000 in personal property coverage, $200,000 in liability coverage, and a $1,000 deductible. The model assumes a home built in 2000 with frame construction and a composition roof, plus no insurance claims filed in the past five years.
These specifications match typical Rhode Island homeowners and reflect median home values across the state. The 2000 construction year represents the most common home age category in Rhode Island, making our data relevant to many residents.
We changed one factor at a time to see its effect on rates. For home age, we compared properties built in 1980, 2000 and 2020 with the same coverage levels and homeowner characteristics.
Your actual premium depends on your home age, construction materials, roof condition, coverage amounts, claims history, credit score, location and insurer. Each factor affects what you pay.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- Global Forest Watch. "United States: Rhode Island." Accessed January 6, 2026.
- ICC Digital Codes. "2021 International Residential Code (IRC) with Rhode Island Amendments." Accessed January 6, 2026.