Updated: May 22, 2024
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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.
Best General LiabilityRhode IslandBest 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.
Coverage costs and company information for general liability insurance providers in Rhode Island were last updated in 2023.
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?
MoneyGeek used the following weights to rank the best general liability insurance in Rhode Island:
MoneyGeek used two business profiles to gather general liability quotes:
| Thimble | MoneyGeek Score93 | Monthly Cost Without Employees$22 | Monthly Cost With 20 Employees$53 |
| The Hartford | MoneyGeek Score91 | Monthly Cost Without Employees$31 | Monthly Cost With 20 Employees$54 |
| Nationwide | MoneyGeek Score90 | Monthly Cost Without Employees$37 | Monthly Cost With 20 Employees$41 |
| Next | MoneyGeek Score89 | Monthly Cost Without Employees$25 | Monthly Cost With 20 Employees$25 |
| Hiscox | MoneyGeek Score85 | Monthly Cost Without Employees$29 | Monthly Cost With 20 Employees$180 |
Affordable for sole proprietors and LLCs
Financially stable
Fast quotes
Lower customer service ratings
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.
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?
MoneyGeek used the following weights to find the cheapest general liability insurance in Rhode Island:
Financially stable
Affordable for LLCs and sole proprietors
Fast quote speeds
More customer complaints than other insurers evaluated
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.
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?
MoneyGeek used the following weights to find the best general liability insurance for employers in Rhode Island:
Affordable policies
Good customer service
Financially stable
Slow quote processing times
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.
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?
MoneyGeek used the following weights to find the best general liability insurance for sole proprietors in Rhode Island:
Affordable monthly premium
Excellent financial stability
Fast quotes
Lower customer satisfaction than other insurers
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.
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:
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.
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.
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.
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.
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.
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.
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.
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.
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 | Monthly Cost Without Employees$29 | Monthly Cost With 20 Employees$71 |
| General Contractor | Monthly Cost Without Employees$233 | Monthly Cost With 20 Employees$3,773 |
| Cleaning | Monthly Cost Without Employees$111 | Monthly Cost With 20 Employees$2,163 |
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.
Thimble has the best general liability insurance in Rhode Island, scoring 93 out of 100 in MoneyGeek's rating. It has excellent rates and great financial stability. However, the best insurance for you will depend on your business size, employee count and coverage needs.
Thimble has the cheapest general liability insurance in Rhode Island, with an average monthly cost of $53 for LLCs and $22 for sole proprietors. The actual cost of insurance depends on various factors such as location, employee count and industry.
General liability insurance in Rhode Island covers bodily injury, property damage and personal or advertising injury claims. It typically does not cover employee injuries, auto accidents or intentional or criminal acts.
Rhode Island does not legally require businesses to have general liability insurance, but it might be required in specific industries to obtain business licenses or win contracts.
About Melissa Wylie
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.
