Finding the Best Homeowners Insurance in Rhode Island
Experiencing hurricanes and blizzards is normal in the Ocean State. Small but mighty, living in Rhode Island means that you will experience it all as a homeowner. Because of this, you must be sure to find the best homeowners insurance in Rhode Island to stay protected. While it is a small state, the premiums tend to run high because of the various risks involved; this is why many are searching for cheap homeowners insurance in Rhode Island. Price is only one factor when it comes to finding the very best insurance. You need to make sure that you are working with a company you can trust that has a reputation for being great with their customers. This review will guide you as you look for Rhode Island homeowners insurance quotes. Depending on your home, you will need to cover more than just the basics. Living in Rhode Island promises weather that will challenge your dwelling, so you must be sure that you are fully covered. From additional provisions that protect your yard and water backup, make sure that you know everything you can add to your policy. Talking to a licensed agent will help you with your search.
| Rhode Island Homeowners Insurance Cost Broken Down | Rates |
|---|---|
| Yearly Cost of Homeowners Insurance in Rhode Island | $828.00 |
| Costs Per Month for Homeowners Insurance in Rhode Island | $69.00 |
How Much is Homeowners Insurance in Rhode Island
Many local residents wonder—how much is homeowners insurance in Rhode Island? This depends on many different factors that must be taken into consideration. The size of your house is one; the bigger your house, the more you will pay. Of course, the age of your house also matters. If you have an old roof, this is considered a liability because of the potential storm damage. Most homeowners can expect to pay around $1,205 annually for their homeowner's insurance—this is the average cost of homeowners insurance in Rhode Island. This is slightly lower than the national average of around $1,228, but it can still become a costly expense for you to manage along with your other bills. The closer you live to the water, the higher you can expect your insurance premiums to be. Because the state is so small, many live in very close proximity to the coastline. While you never want to anticipate your home succumbing to a natural disaster, you cannot predict this will not happen to you. This is what your homeowner's insurance policy is for—it will provide you with the peace of mind you need. As you browse for homeowners insurance rates in Rhode Island, try not to take any shortcuts. The cheapest plan is not always going to be the best plan. It is much better to remain protected from all of the elements than to buy a policy that will leave you without a place to live in case of an emergency.
| City in Rhode Island | Monthly Costs | Yearly Costs |
|---|---|---|
| Providence, RI | $127.25 | $1,527.00 |
| Cranston, RI | $114.08 | $1,369.00 |
| Warwick, RI | $121.00 | $1,452.00 |
| Pawtucket, RI | $111.08 | $1,333.00 |
| East Providence, RI | $111.50 | $1,338.00 |
| Woonsocket, RI | $111.17 | $1,334.00 |
| Cumberland, RI | $110.17 | $1,322.00 |
| Coventry, RI | $114.08 | $1,369.00 |
| North Providence, RI | $114.50 | $1,374.00 |
| South Kingstown, RI | $124.50 | $1,494.00 |
| Johnston, RI | $115.17 | $1,382.00 |
| West Warwick, RI | $116.33 | $1,396.00 |
| North Kingstown, RI | $122.83 | $1,474.00 |
| Newport, RI | $121.00 | $1,452.00 |
| Westerly, RI | $123.92 | $1,487.00 |
| Bristol, RI | $109.67 | $1,316.00 |
| Lincoln, RI | $112.17 | $1,346.00 |
| Smithfield, RI | $111.75 | $1,341.00 |
| Central Falls, RI | $112.42 | $1,349.00 |
| Portsmouth, RI | $117.33 | $1,408.00 |
| Burrillville, RI | $111.50 | $1,338.00 |
| Barrington, RI | $112.00 | $1,344.00 |
| Middletown, RI | $119.83 | $1,438.00 |
| Tiverton, RI | $119.75 | $1,437.00 |
| Narragansett, RI | $129.92 | $1,559.00 |
| East Greenwich, RI | $119.83 | $1,438.00 |
| North Smithfield, RI | $111.83 | $1,342.00 |
| North Scituate, RI | $111.50 | $1,338.00 |
| Warren, RI | $111.17 | $1,334.00 |
Rhode Island Homeowners Insurance Laws
All states have different legal requirements when it comes to homeowners insurance. According to Rhode Island homeowners insurance laws, a policy is not legally required. There is an exception, however, if you have a mortgage on your home. The lender will typically require that you get a homeowners insurance policy, so you are not a liability. Otherwise, they will not approve your application. When it comes to your coverage amounts, there are no set Rhode Island homeowners insurance requirements. Your dwelling will always be covered based on what it is worth and how big it is. Your secondary structures (detached garages and sheds) are always covered up to 20% of the cost your dwelling is covered. This part can vary greatly depending on your home. The rest of your coverage should be tailored to fit your needs. There are other aspects, such as liability if someone gets hurt while in your home and cost of living expenses if you must stay elsewhere when your home is being repaired after being damaged by a covered peril. Even though it is not legally required, having homeowners insurance in Rhode Island is highly recommended. With all of the risks, it is better to be safe.
What Does Homeowners Insurance Cover in Rhode Island
Much like any other homeowners insurance policy, you need to be aware of your options and ask a licensed agent—What does homeowners insurance cover in Rhode Island? The main part of homeowners insurance coverage revolves around the dwelling. This is what makes up the biggest part of the premium because it is your largest asset. There are also coverage options for the personal belongings inside of your home. If you have many expensive or valuable items, it is worthwhile to ask for additional coverage. As mentioned, you will receive coverage for emergencies that occur on your property if someone gets injured. These coverages include medical costs and personal liability costs (if they try to sue you). In Rhode Island, storm surges and high winds can cause a lot of damage. Looking into extra protection from these elements is highly recommended. If you must vacate your home because it is damaged, your cost of living will be covered in the form of hotels and food bills. As mentioned, this is only the case when your home becomes unlivable due to a covered peril. Some of these perils are fire, wind, lightning, hail, smoke, theft, vandalism, the weight of ice or snow, and freezing.
| Costs of Home Insurance in Rhode Island by County | Monthly Average Costs | Yearly Average Costs |
|---|---|---|
| Kent County, RI | $121.00 | $1,452.00 |
| Newport County, RI | $121.00 | $1,452.00 |
| Providence County, RI | $114.58 | $1,375.00 |
Top Rated Homeowners Insurance Companies in Rhode Island Based on Ratings
It will save you time to know the top-rated homeowner's insurance companies in Rhode Island when looking for quotes. While it is the smallest state in the country, many big names insure homes there regularly. The best homeowners insurance companies in Rhode Island include Amica Liberty Mutual Allstate Nationwide USAA This list of Rhode Island homeowners insurance companies ranks among the best because they are all notorious for great customer service ratings and competitive pricing. While these are not all of the companies offering homeowners insurance in Rhode Island, you will likely find your best quote with one of them. Amica homeowners insurance in Rhode Island is notably great because they are an accredited business with the Better Business Bureau and an A+ rating. Their financial stability can put you at ease when you are looking for a great insurer to protect your home. Liberty Mutual comes in second, offering many different insurance products to suit your needs. The rest on the list are all familiar and trustworthy names. You are likely familiar with them because they have been around for nearly a century. With this much experience, you know that their insurance products are going to keep your home protected.
| Rhode Island Home Insurance Company | JD Power Rating | NAIC Rating |
|---|---|---|
| Amica Ratings for Homeowners Insurance in Rhode Island | 5/5 | 0.22 |
| Allstate Ratings for Homeowners Insurance in Rhode Island | 3/5 | 0.29 |
| Liberty Mutual Ratings for Homeowners Insurance in Rhode Island | 2/5 | 0.5 |
| United P&C Ratings for Homeowners Insurance in Rhode Island | 2/5 | 6.58 |
| Nationwide Ratings for Homeowners Insurance in Rhode Island | 2/5 | 0.24 |
| Andover Ratings for Homeowners Insurance in Rhode Island | N/A | 0.39 |
| Narragansett Bay Ratings for Homeowners Insurance in Rhode Island | N/A | 0.19 |
| MetLife Ratings for Homeowners Insurance in Rhode Island | 2/5 | 0.2 |
| AIG Ratings for Homeowners Insurance in Rhode Island | 2/5 | 0.09 |
| PURE Ratings for Homeowners Insurance in Rhode Island | N/A | 0.04 |
How to Lower Homeowners Insurance in Rhode Island
To lower your insurance cost, you must be aware of all the Rhode Island homeowners insurance discounts that are available to you. Most of the time, bundling your policies will save you money. This means obtaining two policies with one insurer. For example, you can figure out how to lower your homeowner's insurance in Rhode Island by also obtaining an auto insurance policy. This will usually result in a 30% discount in savings. With a new year coming quickly, there is always a chance you will see Rhode Island homeowners insurance rates increasing in 2021. Depending on how many claims were filed in your geographic area and how much was paid out, this can raise your rate. Many customers are peeved to find out that a claim-free record cannot prevent this overall rate increase. What can help you is asking your insurer if they offer a discount for not having any claims? Most will reward you if you have not filed a claim in the last 3-5 years. Being a loyal customer can also earn you a discount. If you stay with the same company for over a year, they will usually offer you a discount upon renewal.
Compare Homeowners Insurance in Rhode Island Before Buying
To compare homeowners insurance in Rhode Island, you need to obtain a few quotes. When you get these quotes, make sure that the coverages you are comparing match up. This will give you the most accurate information on how to find affordable homeowners insurance in Rhode Island. With the companies mentioned above, you can visit each website or call them to get your quotes. As you are shopping for homeowners insurance in Rhode Island, remember that a quality reputation will usually beat an extraordinarily cheap price. You want to have a great point of contact at your insurance company, someone you know who can help you when you need to change your policy or when you run into problems. You should always feel like you are in the loop; make sure you get a policy with an insurance company that truly cares to protect your home.