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 6, 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 thirtieth nationally for affordability.
Determine your coverage needs, gather multiple quotes and research providers to find the best home insurance in Rhode Island for your situation.
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:
Jan 15, 2026
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What Affects Average Rhode Island Home Insurance Costs?
Home insurance costs in Rhode Island vary based on multiple factors. Your location, coverage limits, home's construction materials, insurance company, credit score and claims history all play a role in determining your premium. Let's examine how each of these factors impacts what you'll pay for coverage.
Average Cost of Rhode Island Home Insurance by Company
Rhode Island home insurance rates span 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 commands the highest rates at $289. Shopping between providers reveals savings opportunities exceeding $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 vary based on coverage choices, with annual premiums ranging from $1,186 to $7,101. Higher coverage limits and lower deductibles push premiums up, while choosing lower coverage amounts and higher deductibles can help 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 city determines how much you'll save on Rhode Island home insurance. North Smithfield residents pay $162 monthly, the lowest rate among major cities. Cranston homeowners spend $171 per month, while Providence and Wakefield residents face slightly higher costs at $179 and $180 monthly. Location-based risks like flooding exposure and property crime rates create these variations.
| 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 directly impact home insurance costs in Rhode Island. Insurers view higher credit scores as lower risk, leading to reduced 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 coastal location, various factors in Rhode Island create competitive premium pricing.
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 occuring in 2016 at 74 hectares, according to the Global Forest Watch. This dramatically reduces insurers' catastrophic loss exposure, allowing them to offer lower premiums than 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 create 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 also means insurers face 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 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 requiring backup coverage, while 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 simultaneously, compounding savings.
- 3Compare Multiple Providers
Accepting the first quote costs Rhode Island homeowners hundreds annually. Gather at least three quotes and compare customer satisfaction ratings alongside premiums. Check AM Best financial ratings and claims service reviews. A $50 monthly savings disappears if your insurer denies legitimate claims or provides inadequate support during Rhode Island's storm season.
- 4Bundle Insurance Policies
Separate home and auto policies mean missing out on bundling discounts. Bundling home and auto with one insurer can reduce rates by 10% to 25% in Rhode Island. This strategy works particularly well for Pawtucket and East Providence homeowners, where multi-policy discounts create $200 to $500 in annual savings 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. Improving credit from below fair to good reduces your premium by 11%, meaning better financial habits directly translate to insurance savings.
REVIEW YOUR COVERAGE ANNUALLY DURING HURRICANE SEASON
Schedule a yearly policy review each June before hurricane season peaks. Rhode Island faces tropical storm and hurricane threats from June through November, with September historically 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 coverage adequately protects against 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. The FAQs below explain 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 will cost 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, meaning 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 can save you thousands of dollars annually. The difference between the cheapest and most expensive providers is large: State Farm offers the lowest average rates at $1,181 per year, while Allstate charges $3,472 annually for comparable coverage.
Even among mid-tier insurers, savings add up. Farmers costs $2,066 annually while PURE charges $2,094, a $28 difference. Compare quotes from at least three insurers to find the best rate for your situation.
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. This creates a $633 gap between the two. Middle-aged homes built around 2000 fall between these extremes at $2,089 annually.
Older homes carry higher premiums because they face greater risks from aging systems and materials. Outdated wiring, plumbing, and roofing are more likely to fail 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 can cut insurance costs through smart strategies that deliver real savings. Shopping around proves essential since premiums vary dramatically between insurers for identical coverage. Maintaining a claim-free record pays off, saving 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, the yearly savings accumulate over time. Contact insurers about available discounts for policy bundling, security system installations, or newer home features. These reductions, regardless of size, meaningfully lower your annual costs and make coverage more affordable long-term.
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 isolated each factor's impact by changing one element while keeping all others identical. For example, when testing how home age affects rates, we compared homes built in 1980, 2000, and 2020 while maintaining the same coverage levels and homeowner characteristics.
Your actual premium will differ based on your specific home age, construction materials, roof condition, coverage amounts, claims history, credit score, location, and chosen insurance company. These rate comparisons show how much each factor influences your final cost.
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.