MoneyGeek created a scoring system to identify the best insurance company in Rhode Island for different types of homeowners. We also analyzed the details of the available coverages and discounts to help you find the right insurer.
While State Farm is the best overall, it is also the best company for affordability. Meanwhile, Amica Mutual is the best overall for customer service and homeowners with expensive homes. Additionally, Allstate is the best option for bundling.
MoneyGeek also analyzed the cheapest homeowners insurance providers in Rhode Island for those more concerned with saving on their monthly bill.
The Best Homeowners Insurance in Rhode Island
The Best Overall Homeowners Insurance Companies in Rhode Island
Homeowners insurance protects your home and possessions. To help you find the best home insurance in Rhode Island, we ranked the top providers based on affordability, claims reputation, customer service and financial stability.
Our analysis reveals that the best home insurance companies in Rhode Island are:
- State Farm: MoneyGeek score of 88 out of 100
- Amica Mutual: MoneyGeek score of 86 out of 100
We evaluated why State Farm and Amica Mutual top our list, and we researched the unique coverages and discounts offered by these providers.
The Top Home Insurance Companies in Rhode Island
State Farm ranked highest in the state in terms of affordability and financial stability and scored second in customer satisfaction. It costs around $748 per year and offers unique protections like mold and earthquake coverage.
State Farm offers a number of unique coverages for different needs. For example, it offers mold contamination insurance to protect your home and properties from damage caused by mold. It also includes earthquake insurance which is ideal for homeowners living in high-risk zones. Other optional coverages include energy efficiency upgrades, home system protection, service line, home rental and vacancy. Unique discounts, such as continuous insurance and roofing material discounts, are also available.
While Amica Mutual is the second-best insurer overall in Rhode Island, it ranked first for customer satisfaction, second for stability and third for affordability. It costs roughly $1,363 annually and offers earthquake coverage.
If you only need basic coverages like content replacement cost and scheduled personal property, then Amica Mutual might be enough for you. The only unique protection it offers is earthquake coverage, which you might need if earthquakes frequently occur in your area. Amica Mutual also offers loyalty discounts for policyholders who have been with the company for at least two years.
To determine the best home insurance on a national level and in Rhode Island, MoneyGeek gathered home insurance quotes from different providers in the country. We used a unique scoring system and balanced them against property claims ratings and customer satisfaction scores from J.D. Power.
Note that your costs and experience may vary depending on your situation. Read MoneyGeek’s methodology to learn more.
The Best Homeowners Companies in Rhode Island for Service Quality
If you are not concerned about price, MoneyGeek ranked the best providers in Rhode Island in terms of customer satisfaction and claims experience.
Based on these factors, the best companies in the state are:
- Amica Mutual: MoneyGeek score of 90 out of 100
- Nationwide: MoneyGeek score of 81 out of 100
MoneyGeek evaluated the rate coverages and discounts offered by these providers to understand why they rank highly in terms of customer service.
The Top Home Insurance Companies in Rhode Island for Quality Service
Amica Mutual has a higher claims rating than satisfaction score. This means that policyholders can expect a smooth and helpful experience if they ever need to file a claim.
Amica Mutual offers useful home insurance coverages, like content replacement cost and cyber event or ID theft insurance. The content replacement cost insurance comes in handy if your personal property is destroyed by a covered loss, while the cyber event and ID theft insurance protect you from losses caused by fraudulent use of your identity.
Nationwide earned a higher claims ranking than satisfaction rating. This means that Nationwide provides customers with a great service experience if they need to file a claim.
Nationwide offers plenty of basic coverages, such as content replacement cost, extended reimbursement and scheduled personal property. If you want protection against water damage, the back-up of sewer or drain coverage comes in handy. If it’s time to rebuild your roof, you can benefit from better roof replacement insurance.
The Best Homeowners Companies in Rhode Island on a Budget
If you want to save on your monthly bill without sacrificing quality service, we determined the best-rated home insurance companies in Rhode Island in terms of affordability.
Based on this factor, the best homeowner insurance companies in Rhode Island are:
- State Farm: MoneyGeek score of 94 out of 100
- AIG: MoneyGeek score of 84 out of 100
State Farm costs around $749 per year, while AIG charges $1,068 on average. To understand why State Farm is the best company for affordability, MoneyGeek analyzed its unique coverages and discounts.
The Top Home Insurance Companies in Rhode Island on a Budget
Affordable home insurance coverage at $748 per year
Discounts like protective device, home renovation, continuous insurance and roofing material
Satisfaction rating of 4.01 out of 5
State Farm received a score of 94 in terms of affordability because they offer the cheapest policies in Rhode Island. You can create a useful policy by bundling up different coverages, like protective devices, home renovation and being claims-free.
Policyholders can take advantage of unique discounts, like being continuously insured and roofing material discounts. When you are continuously insured, you receive savings based on the amount of time your policy has been active. Additionally, you can save on a new roof through roofing material discounts.
The Best Homeowners Companies in Rhode Island for Expensive Homes
MoneyGeek compiled the best insurance companies in Rhode Island for homeowners with luxury or high-value homes. These companies were evaluated by weighing the cost of a policy with $2 million in coverage against customer satisfaction.
Based on our analysis, the top two insurers in Rhode Island are:
- Amica Mutual: MoneyGeek score of 89 out of 100
- State Farm: MoneyGeek score of 85 out of 100
To explain why Amica Mutual deserves the top spot, we broke down unique coverages for different homeowners’ needs.
The Top Home Insurance Companies in Rhode Island for High-Value Homes
Ranks in the top half of providers in terms of affordability for expensive homes
MoneyGeek satisfaction rating of 4.46 out of 5
Amica Mutual landed the top spot in terms of customer satisfaction for high-value homes, which means it has a positive reputation among customers. It ranks third for affordability.
The company offers coverages for high-value homeowners, including scheduled personal property, extended reimbursement, content replacement cost and cyber event or ID theft. These coverages are useful for different needs but can all benefit homeowners with high-value homes. For example, extended reimbursement insurance provides an additional 30% above your limit when the cost to rebuild or repair your home exceeds the coverage limit on your policy.
The Best Homeowners Companies in Rhode Island for Veterans
If you are an active military service member or retiree, MoneyGeek found the best homeowner companies in Rhode Island. Based on our data, we determined that the best company for military families is USAA. The company exclusively caters to active and retired military members, including their families.
USAA received a MoneyGeek score of 81 out of 100 and often has higher scores than other providers.
The Top Home Insurance Companies in Rhode Island for Veterans
Coverages exclusively tailored to military families
Not available if you don’t have a military background
USAA offers plenty of coverage options for those serving in the military as well as their family members. We were not able to evaluate the company in Rhode Island specifically, but it often scores higher than other companies in other states.
USAA policies include contents replacement cost coverage. This pays for expenses to replace your personal belongings at full value without considering depreciation. You can also add home rental coverage to your policy, which offers protection if you’re renting your house.
Policyholders who bundle their USAA home insurance with their car insurance receive a discount. Additionally, customers who haven’t filed a claim in the last five years can get a discount.
The Best Homeowners Companies in Rhode Island for Bundling
A good way to save on your insurance costs is to bundle home and auto insurance. To help you find the right car insurance, MoneyGeek ranked the best auto and home insurance bundles in Rhode Island.
We found that the two companies that bundle the best home and car insurance in Rhode Island are:
- Allstate: MoneyGeek score of 80 out of 100
- Nationwide: MoneyGeek score of 71 out of 100
Bundling coverage gives you access to extra discounts and allows you to combine both policies with the same company. When you have multiple policies bundled with the same insurer, it simplifies managing your insurance policies.
The Top Home Insurance Companies in Rhode Island for Bundling
Offers 28% bundling discount
Home insurance MoneyGeek score of 3.78 out of 5
Auto insurance MoneyGeek score of 3.8 out of 5
Allstate ranks first in the discount score category when bundling insurance in Rhode Island, with a perfect score of 5. This makes it the best insurer for bundling your policies.
The company provides unique coverages for policyholders who want to get bundled policies. For instance, homeowners can get energy efficiency, yard and garden and mold coverage. The energy efficiency coverage covers the additional cost of replacing a damaged item with a more energy-efficient item, while yard and garden increases the coverage limits for items in your yard. Additionally, homeowners can get protection against mold and fungus.
In terms of auto insurance, Allstate provides unique coverage like new car replacement and gap insurance. They also have rideshare insurance for those who work for rideshare companies.
How to Find the Best Home Insurance in Rhode Island
To find the best home insurance in Rhode Island, you need to look for a company that balances cost, service reputation and financial stability. While we’ve done most of the research for you, you can also do your own analysis using the steps outlined below.
Research Customer Service Reputations in Rhode Island
You can research the best home insurance companies based on the latest J.D. Power satisfaction scores and NAIC complaint ratios in your state. It can also help to do research using Rhode Island’s department of insurance website. However, this task might be time-consuming. To make your life easy, we have compiled the best companies for you.
Compare Quotes for Yourself
MoneyGeek’s quotes are averages for sample homeowners in most of Rhode Island and may not be suitable for those living in other states. When shopping for homeowner insurance, we recommend that you compare quotes from at least three companies in order to get a good idea of how much you can expect to pay for your policy.
Make Sure the Company Has Coverages You Want in Rhode Island
While your prospective insurer may advertise that they offer certain coverages or discounts, there is no guarantee that they are available in your state. Check with your potential insurance company to ensure that they have the coverages that you need.
Double-Check Financial Stability Ratings
It’s important to choose an insurer that is financially stable so that you know your claims will be paid. Make sure to do your research on the financial strength rating of any company you are considering.
FAQs About the Best Home Insurance in Rhode Island
The best homeowners insurance in Rhode Island varies depending on your particular needs. We answer some of the most frequently asked questions to help you find the best home insurance in the state.
MoneyGeek scores for homeowners insurance in Rhode Island were calculated by using a scaled and weighted average of J.D. Power Property Claims and Customer Satisfaction Scores, real homeowners insurance quotes and financial stability ratings from A.M. Best. Our scoring system weighted J.D. Power scores 60%, affordability 30% and financial stability 10%, adjusting weightings in the sections focused on affordability and service experience specifically.
MoneyGeek analyzed homeowners insurance quotes from the top insurance companies in Rhode Island that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Rhode Island. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.
About Mark Fitzpatrick