Finding the best general liability insurance in Rhode Island requires careful consideration of various factors. These include coverage options, pricing, financial strength and customer satisfaction.

After thorough research, Thimble emerged as both the best overall company for general liability insurance in Rhode Island and the cheapest. Thimble's monthly rate is $53 per month for limited liability companies (LLCs) with 20 employees. It costs $22 for sole proprietors with no employees.

MoneyGeek Logo IconBest General LiabilityRhode Island
2024

Best General Liability Insurance in Rhode Island

Why Trust MoneyGeek? We collected 1,229 general liability insurance quotes and analyzed cost information alongside customer satisfaction and financial stability reports to determine the best general liability insurance companies for small businesses in Rhode Island.

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Coverage costs and company information for general liability insurance providers in Rhode Island were last updated in 2023.

1,229Quotes Analyzed
 
6 Companies Compared
 
50 Zip Codes

Best Overall General Liability Insurance in Rhode Island

Thimble is the top-ranked company for general liability insurance in Rhode Island, according to MoneyGeek's analysis, with a MoneyGeek score of 93 out of 100. The table below shows the cost and MoneyGeek score for all the companies we analyzed in Rhode Island.

How was this MoneyGeek score calculated?

Thimble93$22$53
The Hartford91$31$54
Nationwide90$37$41
Next89$25$25
Hiscox85$29$180
Best OverallScore: 93
Thimble
4/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Affordable for sole proprietors and LLCs

Financially stable

Fast quotes

CONS

Lower customer service ratings

Company Highlights

Thimble is the best general liability insurance provider in Rhode Island. It costs $22 per month for sole proprietors and $53 monthly for LLCs. The company scored well in terms of providing fast quotes and being financially stable, allowing customers to expedite the quote process and have the confidence their claims will be paid out.

Unfortunately, Thimble didn’t score as well in terms of customer satisfaction, having more customer complaints than most other insurers we evaluated.

Cheapest General Liability Insurance in Rhode Island

Thimble ranks as the most affordable general liability insurance company in Rhode Island. Its average rate is $53 per month for LLCs and $22 per month for sole proprietors.

Our affordability score combines the monthly costs for both entity types to rank companies. The winner may not have the lowest cost for both entity types.

How was this MoneyGeek score calculated?

CheapestScore: 97
Thimble
4/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Financially stable

Affordable for LLCs and sole proprietors

Fast quote speeds

CONS

More customer complaints than other insurers evaluated

Company Highlights

Thimble offers general liability insurance policies tailored to meet the needs of small businesses. The company earned its position as the best general liability insurance provider in Rhode Island due to its low premiums and ease of use. With affordable pricing and excellent coverage options, Thimble is a top choice for small businesses in Rhode Island.

This insurer also has a fast quote estimate tool, allowing customers to save time when researching their potential premiums.

Best General Liability Insurance for Employers in Rhode Island

Nationwide ranks best for employers in our general liability insurance study with a MoneyGeek score of 97 out of 100.

These rankings are based on the average monthly cost for LLCs with 20 employees. The average monthly cost for LLCs is $41. It's important to note that employee count significantly impacts the cost of general liability insurance. A business with fewer than 20 employees can expect to pay less than our average cost, whereas a business with a higher employee count can expect to pay more.

How was this MoneyGeek score calculated?

Best for EmployersScore: 97
Nationwide
4/5LLC Affordability
5/5Customer Satisfaction
4/5Financial Stability
3/5Online Quote Process
PROS

Affordable policies

Good customer service

Financially stable

CONS

Slow quote processing times

Company Highlights

Nationwide is the best general liability insurance provider for employers, with a MoneyGeek score of 97 out of 100. The company's policies offer comprehensive coverage that can be tailored to meet the specific needs of a business and costs around $41 per month.

This insurer has a high level of financial strength, meaning that it is well-equipped to handle claims and pay out settlements. It also has excellent customer service. However, its premium estimate tool takes over two minutes to give potential customers a quote, which is the slowest speed of all insurers we researched.

Best General Liability Insurance for Sole Proprietors in Rhode Island

Thimble ranked best for sole proprietors with a MoneyGeek score of 95 out of 100. Rankings are based on the average cost for sole proprietors with no employees, with Thimble costing only $22 per month. However, costs could be higher for sole proprietors in riskier industries, such as construction.

How was this MoneyGeek score calculated?

Best for Sole ProprietorsScore: 95
Thimble
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Affordable monthly premium

Excellent financial stability

Fast quotes

CONS

Lower customer satisfaction than other insurers

Company Highlights

Thimble is a great choice for sole proprietors who need general liability insurance. Its monthly rates are affordable, costing around $22 per month. It also has excellent financial stability, according to AM Best. Potential customers can even get a quote in 15 seconds.

It's important to note that Thimble may not be the best choice for policyholders who value customer service since the insurer had one of the worst service rankings in our analysis.

Do You Need General Liability Insurance in Rhode Island?

General liability insurance may not be a legal requirement in Rhode Island, but it is essential for business owners to consider purchasing coverage. Not only can this type of business insurance provide protection against potential lawsuits and accidents, but it may also be required to obtain business licenses or win contracts in certain industries.

General liability insurance covers:

  • Third-party bodily injuries: It helps you avoid paying for medical costs incurred by an injured party caused by your business.
  • Third-party property damage: This covers the costs of damages to someone else’s property resulting from your business or employees.
  • Personal and advertising injury: General liability insurance offers financial protection to companies dealing with claims of defamation, libel, slander or copyright infringement.

Rhode Island requires most businesses with one or more employees to carry workers’ compensation insurance, which provides coverage for work-related injuries or illnesses. Similarly, commercial auto insurance is required for all vehicles owned by businesses in Rhode Island. Commercial auto insurance policies must meet the state’s minimum liability coverage requirements, which are $25,000 per person for bodily injury, $50,000 per accident for bodily injury and $25,000 per accident for property damage.

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SMALL BUSINESS RESOURCES IN RHODE ISLAND

The Rhode Island Small Business Development Center (SBDC) provides free consulting and low-cost workshops to small business owners in Rhode Island. They offer guidance in areas such as business planning, financial analysis, marketing and more.

How Much Is General Liability Insurance in Rhode Island?

The average monthly cost of general liability insurance in Rhode Island is $29 for sole proprietors and $71 for LLCs with 20 employees. These policy limits include a $2 million aggregate limit, $1 million occurrence limit and $0 deductible. The aggregate limit refers to the maximum amount that the policy will pay out over the course of the policy period, while the occurrence limit is the maximum amount that will be paid out for a single claim. The deductible is the amount that the business owner will pay out of pocket before the insurance coverage kicks in to cover a claim.

Factors That Impact General Liability Insurance Costs in Rhode Island

The cost of general liability insurance is not the same for all businesses in Rhode Island, as several factors determine it. These factors include policy limits, the number of employees and payroll costs, business location, claims history and the industry in which the business operates.

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    Policy limits

    Higher policy limits may result in higher insurance premiums, while lower policy limits can reduce premiums. Business owners should choose a policy limit that provides sufficient coverage for their business needs.

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    Number of employees and payroll costs

    The number of employees and payroll costs can also impact insurance costs, as higher numbers of employees and payroll costs may lead to a greater chance of claims being made against the business. This is evident in the premium difference between LLCs and sole proprietors in Rhode Island.

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    Business location

    Your location is another factor that can affect the cost of general liability insurance. Riskier locations, such as areas with higher crime rates, may result in higher premiums. State average premiums can vary at the city level.

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    Claims history

    Previous claims can make a business appear riskier to insurers, leading to higher premiums. Conversely, businesses with a clean claims history might be able to secure lower premiums.

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    Industry

    This can also impact the cost of general liability insurance. High-risk industries, such as construction, may have higher insurance costs due to the greater likelihood of accidents or injuries occurring. The table below shows the different premiums based on the industry a business is in.

Software Development$29$71
General Contractor$233$3,773
Cleaning$111$2,163

Frequently Asked Questions About General Liability Insurance in Rhode Island

In Rhode Island, it's important for business owners to consider general liability insurance. Here are some commonly asked questions about the best and cheapest insurance providers in Rhode Island.

Which company has the best general liability insurance in Rhode Island?

Which company has the cheapest general liability insurance in Rhode Island?

What does general liability insurance cover in Rhode Island?

Does Rhode Island require businesses to have general liability insurance?

About Melissa Wylie


Melissa Wylie headshot

Melissa Wylie is the Content and SEO Manager at MoneyGeek, with nearly a decade of editorial experience and six years of work in financial content focused on small businesses. She previously held SEO positions at Bankrate and LendingTree, with bylines on ValuePenguin and MagnifyMoney.

Wylie has a journalism degree from the University of North Texas. Her strong foundation in journalism helps her craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.


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