Home insurance in Rhode Island costs about $148 monthly or $1,771 annually on average. Homeowners here pay $72 less per month, or $864 less annually, than the national average, making it the 18th most affordable state for home insurance.
Average Home Insurance Cost in Rhode Island
Updated: May 31, 2025
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Rates updated:
Jun 06, 2025
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Key Takeaways
Depending on your financial history, home details and other personal information, home insurance costs in Rhode Island can range from $1,139 to $9,324.
Rhode Island's home insurance premiums are the 18th most affordable in the country, at 33% below the national average.
To find the best home insurance in Rhode Island, determine what coverage you need beforehand, research costs and discounts in your area, and shop around.
How Much Is Home Insurance in Rhode Island?
| Rhode Island Average | $148 | $1,771 | -33% |
| National Average | $220 | $2,635 | 0% |
*These rates represent a home built in 2000 out of frame with $250,000 Dwelling, $125,000 Personal Property and $200,000 Liability coverage with a $1,000 deductible.
Why Is Home Insurance So Expensive in Rhode Island?
Home insurance is expensive in Rhode Island mainly because of the increasing number of claims, the high risk of severe weather and natural disasters, rising material and labor costs, and state insurance laws. Below, we explain each factor in detail:
Rising Claims
More claims in an area signal higher risk to insurers, who respond by raising rates. If homeowners in your neighborhood file frequent claims, expect your premiums to go up too.
High Weather Risks
Rhode Island faces weather risks like hurricanes and nor'easters that can cause expensive property damage. Home insurers factor these regional hazards into their pricing, charging higher rates in disaster-prone areas to offset potential claim payouts.
Rising Material and Labor Costs
Rising construction costs drive up repair expenses, so insurers adjust premiums to cover the higher rebuilding costs after claims.
State Insurance Laws
Rhode Island insurance regulations can impact the cost of home insurance. Laws that require additional coverages or that influence how claims are handled can lead to increased expenses for insurers, which are often passed on to consumers.
What Affects Rhode Island Home Insurance Costs?
For most homeowners, insurance pricing is influenced by several key factors, no matter where you live:
- Coverage chosen
- Home build details
- Provider chosen
- Credit
- Claims history
We'll explore how each of these factors impacts rates in Rhode Island.
How Much Does Coverage Affect Home Insurance Costs?
Coverage choice is the most influential factor in Rhode Island home insurance rates, with costs ranging from $869 to $6,739 per year. Higher coverage limits and lower deductibles increase premiums, while lower limits and higher deductibles reduce costs.
| Lowest | $100K Dwelling / $50K Personal Property / $100K Liability | 2000 | $72 | $869 |
| Highest | $1MM Dwelling / $500K Personal Property / $1MM Liability | 500 | $562 | $6,739 |
How Much Do Home Details Affect Home Insurance Costs?
Home details like age, construction materials and roof type are the second most influential factor in Rhode Island homeowners insurance rates, with rates ranging from $80 to $148 per month. These factors affect replacement costs and the risk of damage or theft, leading to significant rate differences.
| Lowest | New | Superior | Tile | $80 | $962 |
| Highest | Old | Frame | Shake-Treated | $148 | $1,778 |
How Much Does the Provider You Choose Affect Home Insurance Costs?
The provider you choose is the third most influential factor in home insurance costs for Rhode Island residents. Rates can vary significantly, ranging from 33% below to 65% above the average. Make sure to compare options to find an affordable plan that suits your needs.
| Lowest | State Farm | $99 | $1,189 |
| Highest | Allstate | $244 | $2,930 |
How Much Does Credit Affect Home Insurance Costs?
A higher credit score makes you appear more reliable, which can lower your home insurance costs. Premiums vary by up to 47%, with annual average rates ranging from $1,478 to $3,325.
| Lowest | Excellent | $123 | $1,478 |
| Highest | Poor | $277 | $3,325 |
How Much Does Claims History Affect Home Insurance Costs?
Filing more claims will increase your perceived risk for insurers, which can increase premiums. However, in Rhode Island, claims history has a smaller impact on cost than other factors. We found that depending on your claims history, rates can be affected by up to 21% or $928 annually.
| Lowest | Claim free for 5+ years | $148 | $1,771 |
| Highest | 2 claims in past 5 years | $225 | $2,699 |
Tips to Save on Rhode Island Home Insurance
With high home insurance costs in Rhode Island, finding ways to save on premiums is essential, whether you're buying a home or reducing current expenses. Below are tips to help you secure the best and cheapest home insurance in Rhode Island tailored to your needs.
- 1
Find How Much Coverage You Need Beforehand
Determining how much home insurance you need before buying allows you to frame how you search for coverage and avoid being oversold by agents. In addition to standard coverage options, consider if you need add-ons to protect any additional items you own.
- 2
Research Costs and Discounts Beforehand
To determine if you’re getting a good deal, understand the average costs for you and your home. Also, ask agents about all available home insurance discounts, as some insurers apply certain reductions only if requested.
- 3
Compare Multiple Providers Through Different Avenues
Compare multiple insurers apples to apples to find the best coverage for your needs. Use various methods, including online comparison sites, brokers, provider websites, and agents, as quotes vary significantly across these channels.
- 4
Consider Bundling Policies
Bundling policies can lead to significant savings. For example, combining home and auto insurance in Rhode Island can provide substantial savings on your home insurance and annually on both policies.
- 5
Reduce Your Personal Risk Profile
To get cheaper premiums on your home, consider making improvements like adding storm shutters or home security systems. Also, improving your credit score can decrease premiums drastically. For example, moving from a fair to a good credit score can save you 28% on average.
- 6
See if You Are Eligible for State Programs
If traditional insurers won't cover you, Rhode Island may have state programs with affordable rates. These programs typically offer basic coverage that satisfies mortgage lenders.
Rhode Island Home Insurance Calculator: Bottom Line
Home insurance costs vary with coverage level and home details. Find affordable rates by researching your needs and average costs. Use our estimate tool for the best deal.
Homeowners Calculator Insurance Rhode Island: FAQ
The cost of homeowners insurance varies due to many factors. Below, we explain what affects your insurance costs to guide you in finding the most affordable plan that meets your needs.
How much does homeowners insurance cost in Rhode Island?
Rhode Island's average monthly home insurance cost is $148 for a dwelling coverage of $250,000. However, your rate will depend on factors like your credit score, liability and property coverage limits, and deductible.
How do I know how much dwelling coverage to get?
Homeowners can estimate their required dwelling coverage by calculating the cost to replace their home after damage, often with help from an appraiser. While this study uses a baseline coverage of $250,000, you can use the MoneyGeek homeowners insurance calculator to determine the ideal coverage limit for your property.
What factors affect home insurance costs the most?
The biggest factors affecting home insurance costs are your chosen coverage level and provider. Your credit score and home details also influence your rates.
How We Determined Our Rhode Island Home Insurance Estimates
When determining the average cost of home insurance in Rhode Island, we used a base profile for a simple estimate consistent with the following:
- $250,000 dwelling coverage
- $125,000 personal property coverage
- $200,000 liability coverage
- Home Built Year: 2000
- Construction type: Frame
- Roof type: Composition
- $1,000 deductible
- No claims in the past 5+ years
- Fire protection level of 3
However, rates will vary widely depending on factors such as coverage level, provider chosen, the age of the home, other features of the home, insured credit and claims history, among other factors. All other combinations presented in this article assume the home was built in 2000.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like 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!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.