Updated: January 19, 2026
Advertising & Editorial Disclosure
State Farm offers Rhode Island's cheapest homeowners insurance rates at $1,181 annually.
State Farm, Amica, AIG, Farmers and PURE cost 0% to 43% below the $2,089 state average.
Bundle your home and auto insurance policies to save 10% to 25% on premiums — one of the biggest discounts Rhode Island insurers offer.
State Farm is the cheapest home insurance company in Rhode Island at $1,181 per year. Amica ranks second at $1,350 annually and covers all Rhode Island residents. The five most affordable insurers save homeowners between $4 and $908 compared to the state average.
| State Farm | $98 | $1,181 | -43% |
| Amica | $113 | $1,350 | -35% |
| AIG Insurance | $148 | $1,772 | -15% |
| Farmers | $172 | $2,066 | -1% |
| PURE | $174 | $2,094 | 0% |
*The rates above are for homeowners ages 41 to 60 with good credit and no claims history. Quotes are for a home built in 2000 insured for $250,000 in dwelling coverage, $125,000 in personal property coverage and $200,000 in liability coverage with a $1,000 deductible.
According to our cost research, State Farm provides the best pricing for situations ranging from newer homes at $825 annually to high-risk fire zones at $1,324. Amica offers the only competitive alternative for larger homes at $1,371 per year.
| Older Homes | State Farm | $1,277 |
| Newer Homes | State Farm | $825 |
| Young Homeowners | State Farm | $1,181 |
| Senior Homeowners | State Farm | $1,177 |
| High-Risk Fire Homes | State Farm | $1,324 |
| Smaller Homes | State Farm | $1,295 |
| Larger Homes | Amica | $1,371 |
The cheapest company may not be your best fit. Customer service quality, coverage options and claims handling matter beyond price. Our guide to the best home insurance companies in Rhode Island compares insurers across these factors.
Risk factors differ by location, so insurers price policies differently across Rhode Island. State Farm offers the cheapest home insurance in Cranston and North Smithfield. Wakefield residents find lower rates with Amica.
| Cranston | State Farm | $1,154 |
| North Smithfield | State Farm | $1,185 |
| Providence | State Farm | $1,165 |
| Wakefield | Amica | $1,135 |
Your coverage needs determine which insurer offers the best rate. State Farm provides the lowest premiums for basic coverage at $599 annually and delivers the most affordable rates for mid-range and high-value homes. State Farm is also the cheapest provider for $1 million dwelling coverage level.
| State Farm | $50 | $599 |
| Farmers | $67 | $807 |
| Amica | $68 | $814 |
| Nationwide | $94 | $1,125 |
| PURE | $99 | $1,186 |
| The Andover Companies | $99 | $1,186 |
Rhode Island homeowners can cut their insurance costs by hundreds of dollars annually through discounts, higher deductibles and smart home improvements.
Combine your home and auto insurance with the same company to save 10% to 25% on both policies. State Farm, Allstate and Progressive offer bundle discounts to Rhode Island homeowners.
Raise your deductible to lower your annual premium, though you'll pay more out of pocket when filing a claim. Choose a deductible amount you can afford if you need to file a claim.
Rhode Island allows insurers to use credit-based insurance scores when setting rates. Improving your credit score can save you hundreds of dollars annually on your home insurance premium.
Filing multiple claims within three years triggers rate increases. Use homeowners insurance for major losses rather than small repairs you can afford.
Contact your insurer to find all discounts you qualify for beyond bundling. Review your policy annually to add new discounts as your situation changes.
Below are answers to frequently asked questions about the cheapest home insurance in Rhode Island:
Standard homeowners insurance in Rhode Island covers tornado damage to your home and belongings. Rhode Island isn't considered high-risk for tornadoes, but they can still happen, so you're protected under your dwelling coverage.
Flood insurance isn't required across all of Rhode Island, but your mortgage lender will require it if you're in a FEMA high-risk flood zone. Regular homeowners insurance doesn't cover flood damage, but many Rhode Island residents choose to buy flood coverage anyway for extra protection.
Replacement cost coverage pays the full amount to rebuild or replace your damaged property without factoring in depreciation. Actual cash value coverage deducts depreciation, giving you less money based on your property's current worth. Most Rhode Island lenders require replacement cost coverage.
You can cancel your Rhode Island home insurance policy whenever you want. Some insurers charge cancellation fees, though you'll get a refund for unused premium. Your mortgage lender requires continuous coverage.
Our rate analysis reflects what most Rhode Island homeowners need: standard coverage for a typical single-family home built within the past 25 years.
We collected quotes from major insurers using a consistent homeowner profile across Rhode Island. This approach shows how each company prices the same coverage by removing variables that make direct comparisons difficult. The base profile represents the most common home insurance scenario in Rhode Island.
Standard Coverage Profile:
For specialty scenarios like older homes, high-value properties and rural locations, we adjusted variables from this base profile while keeping other factors constant. This shows how specific characteristics affect your rate compared to the standard homeowner.
These figures are estimates based on statewide averages. Your actual premium depends on your home's location, age, construction type and your claims history. Compare quotes from at least three insurers to find your lowest rate.
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.
