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Rhode Island homeowners insurance: what you need to know

Homeowners insurance in Rhode Island costs on average $1,388 per year or $116 per month. The easiest way to find an affordable homeowners insurance policy in Rhode Island is to view prices from multiple companies. 

Home insurance is an optional but important insurance coverage. Unlike auto insurance, homeowners policies aren’t controlled by state legislation. Even so, major differences exist in homeowners insurance costs from state to state. Homeowners costs in a given state may vary based on the frequency and value of home insurance claims made statewide, and also on the price of the belongings and home you're insuring.

Learn average home insurance rates in Rhode Island by referencing the below tables. Remember: your rates may differ, depending on your coverage limits.

Table of contents:
  1. Rates by company
  2. Rates by coverage amount
  3. Rates by deductible amount
  4. Rates by city
  5. Bundling savings
  6. Frequently asked questions
  7. Natural disaster coverage

The cheapest home insurance companies in Rhode Island

Homeowners insurance rates in Rhode Island can vary depending on the insurer you use. State Farm offers the most affordable home insurance in Rhode Island, at just $555 per year. This compares favorably to the state average cost of $1,388, offering an $833 price break on the state's average rate.

Start shopping for affordable homeowners insurance by viewing average rates from top Rhode Island home insurance carriers, detailed below.

Insurance CompanyAverage Yearly Rate in Rhode Island
State Farm$555
Narragansett Bay$606
New London County Mutual$846

Rhode Island home insurance prices by coverage levels

How much you pay for home insurance coverage is greatly affected by the level of coverage you choose. In Rhode Island, carrying $200,000 dwelling coverage costs an average of $962 per year, while maintaining coverage up to $400,000 costs as much as $1,747 per year.

Coverage LevelAverage Annual Cost
$100,000 Dwelling$603
$200,000 Dwelling$962
$250,000 Dwelling$1,157
$400,000 Dwelling$1,747

Homeowners insurance deductibles in Rhode Island

Rhode Island homeowners have numerous choices to make when deciding on a homeowners insurance policy, including how much their deductible should be. The deductible is the total amount that the insured contributes toward a covered loss. Where you set your deductible can play a large part in how much you pay for insurance.

On the whole, choosing a lower deductible means that your insurance premiums will be higher. Therefore, if you need your home insurance rates to be lower, you'll need to keep your deductible higher. It's worth noting that a homeowners deductible should only be as high as you can reasonably pay if you actually suffer a loss.

The following chart shows the average premiums affiliated with deductibles offered by most home insurers.

Deductible TierAverage Annual Homeowners Insurance Rate

Rhode Island homeowners insurance costs by city

Not all Rhode Island cities have equal homeowners insurance rates. Prices depend on locally specific factors such as the number of claims filed in the immediate area, meaning your specific ZIP code impact how much you pay.

The most affordable homeowners insurance in Rhode Island is found in Harrisville. The average home insurance policy in Harrisville costs $1,234 per year — $154 less than the average policy in other Rhode Island cities. The below cities have the most affordable homeowners insurance in Rhode Island.

CityAverage 12-Month Home Insurance Rate


Home and auto insurance bundling in Rhode Island

If you want to save on insurance, consider purchasing your home and auto policies from the same insurance company. A home and car insurance bundle in Rhode Island can lead to substantial savings on auto insurance. Bundling policies in Rhode Island leads to a yearly discount of $178.


Avg. Annual Rate (No Bundle)

Avg. Annual Rate (w/ Bundle)

Annual Savings ($)

Annual Savings (%)



Rhode Island homeowners insurance FAQs


Is homeowners insurance required in Rhode Island?

Rhode Island does not require homeowners insurance, though your mortgage lender may require you to carry it.


Natural disaster coverage in Rhode Island


Does homeowners insurance cover flooding in Rhode Island?

Flood damage — regardless of cause —is not covered by homeowners insurance policies. To insure your Rhode Island home against flood damage, acquire insurance through FEMA's National Flood Insurance Program (NFIP) or via a private insurer. 

Flood insurance coverage from private companies may vary, but NFIP flood insurance covers:

  • $250,000 for your home’s structure
  • $100,000 for your personal property

If the value of your personal property and home exceeds these limits, consider purchasing a flood insurance policy from our partners at Neptune for additional protection.

Find an affordable homeowners policy in Rhode Island today!

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Ross Martin
Ross MartinManager, Content Quality

As a licensed insurance agent, Ross researches and writes insurance content intended to help users make informed decisions.

Ross's background is in writing and education. He holds a master's degree from Royal Holloway, University of London.

Ross's work has been cited by The New York Times, Investopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance

About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.

  • The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.

  • The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.

  • The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.

  • The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.