Best Home Insurance in Rhode Island (2019)

Compare personalized Home insurance rates in Rhode Island

Home Insurance in Rhode Island

Investing in homeowners insurance in Rhode Island may be one of the best decisions you make as a way to protect your biggest investment. Yet, before you do so,  you need to find a way to combine the Rhode Island homeowners requirements along with cheap homeowners insurance policies that fit into your budget. Can you make that happen? The good news is the tips and resources here make it easy for you to manage this process.

Home Insurance Companies in Rhode Island

To get started, your first step is to find top rated homeowners insurance companies in Rhode Island with a solid financial background as well as availability within the state and your local region. Then, work with independent home insurance agents in Rhode Island to understand more about the companies’ policy options and features. Each of the homeowners insurance agencies in Rhode Island will provide you with free, no-obligation quotes to compare. The best home insurance companies in Rhode Island combine affordability and quality coverage.

 

How to Get the Best Rates for Home Insurance in Rhode Island

To get started in this comparison process, enter your zip code here. This will provide you with a list of companies to request a quote from for your home.

 

<zipcode>Find The Cheapest Home Insurance In Your Area:</zipcode>

 

How Much Does Homeowners Insurance Cost in Rhode Island?

The cost of home insurance is dependent on your property’s features. Home insurance quotes in Rhode Island can give you specific information. However, it’s important to know what the state’s averages are for comparison. The average annual premium in Rhode Island is $1,446, which is higher than the United States’ average of $1,173.

 

<twitter>The average annual premium in Rhode Island is $1,446, which is higher than the United States’ average of $1,173.</twitter>

 

List of Homeowners Insurance Companies in Rhode Island

Rhode Island’s home insurance companies are available to you. To receive a list of companies to compare, enter your zip code on this page now.

How Homeowners Insurance Is Calculated in Rhode Island

To determine the price for a home’s insurance policy, companies must gather data about the risks to the structure, the safety of those living there, and the overall types of claims likely. To do this, they use information such as this.

 

<qa>1;Crime;Crime rates can impact costs significantly in some areas. In Rhode Island, they are less of a factor. The property crime rate here is 17.52 incidents per 1,000 residents. That’s significantly lower than the United States’ average of 24 incidents per 1,000 residents.</qa>

<qa>2;Weather/Climate;Weather can play a role in the cost of insurance here. Specifically, the area sees a significant risk for both coastal and inland flooding. There are risks to severe storms, wind damage, as well as fires. This is one reason why rates are a bit higher here.</qa>

<qa>3;Home Values;Home values are also a reason why costs are higher in Rhode Island. As of April of 2019, the median home value in the state was $281,500. That’s significantly higher than most other areas of the U.S. The higher the value of a home, the more expensive it is to insure.</qa>

Home Insurance Requirements in Rhode Island

Most people have numerous questions about home insurance requirements in Rhode Island. It’s always good to speak to your agent about specific requirements for your property. However, these questions can help.

Is Homeowners Insurance Required in Rhode Island?

The state of Rhode Island does not require property owners to maintain insurance coverage. However, some homeowners associations may make this a requirement. Also, nearly all mortgage companies have rules within their contracts that require property owners to maintain insurance protection. It works to keep their investment lower.

What Does Home Insurance Cover?

Home insurance in Rhode Island typically includes property and possession coverage, along with liability insurance. It covers most types of accidental and unavoidable losses such as fires, storm damage, and theft. However, nearly all policies do not include flood insurance here. You can add this coverage on to your plan as an endorsement, though.

Homeowners Insurance for New Properties in Rhode Island

Rhode Island new development can be somewhat limited, but if you are building a home, you need quality insurance in place. It protects the value of your new investment and can cover the cost to rebuild it if it is lost.

Homeowners Insurance for Old Properties in Rhode Island

Even if you pay off your home, it is still wise to maintain coverage. This is especially true for homeowners who may be facing a home with aging features or a home that’s historically valuable.

Renters Insurance in Rhode Island

In Rhode Island, nearly all property management companies and rental property owners require renter’s insurance. This isn’t a state law but is likely written into your lease agreement.

 

The good news is Rhode Island renter’s insurance is typically very affordable at under $30 per month. It covers your possessions and your liability risks, both of which are not protected under the owner’s plan.

 

<zipcode>Compare Renters Insurance in Rhode Island</zipcode>

 

Compare Home Insurance in Rhode Island by City

It is up to you to compare home insurance quotes for your home to get the options from which to choose. The cheapest home insurance in Rhode Island covers all of your risks. Here are some key factors that play a role in the state’s largest cities.

 

<qa>1;Home Insurance Quotes in Providence, Rhode Island;A large and historically important city, Providence is home to 180,393 people. The median home value here is $212,100.</qa>

<qa>2;Home Insurance Quotes in Cranston, Rhode Island;Cranston, which has 81,202 residents, is rapidly growing. Those living here will find a median home value of $252,900, which has grown nearly 6 percent in the last year.</qa>

<qa>3;Home Insurance Quotes in Warwick, Rhode Island;For those who are living in Warwick, along with the other 80,871 people living there, this community has much to offer in the quality of life. The median value of a home here is $228,400.</qa>

<qa>4;Home Insurance Quotes in Pawtucket, Rhode Island;Pawtucket is in the heart of the state. It’s home to about 72,001 people. The home values here are a bit more moderate at $216,300.</qa>

<qa>5;Home Insurance Quotes in East Providence, Rhode Island;This city, which was once a suburb of Providence, has grown to a population of 47,600 people. The area’s median home value is $235,400.</qa>

 

Bonus: Most Expensive Homes in Rhode Island

You may not want to invest in home insurance at the rates for these homes. These are the most expensive properties in Rhode Island.

  • The home known as Seafair at 254 Ocean Avenue in Newport is valued at $19 million.
  • The home called Ocean Lawn, at 51 Cliff Avenue in Newport is valued at $18.5 million.
  • The stunning Wyndham Estate at 36 Beacon Hill Road in Newport is valued at $15 million.

 

<resources>https://www.reviews.com/homeowners-insurance/rhode-island/;https://www.neighborhoodscout.com/ri/crime;http://statesatrisk.org/rhode-island;https://www.zillow.com/ri/home-values/;http://www.citypopulation.de/USA-RhodeIsland.html</resources>