Homeowners Insurance in Rhode Island

Homeowners insurance in Rhode Island should include coverage for hurricanes, floods, and other perils.
Written by Nick Kunze
Reviewed by Melanie Reiff
Updated on May 02, 2022
Rhode Island homeowners will want a homeowners insurance policy that protects them from water damage, hurricanes, and windstorms. To find the right homeowners insurance policy for your needs, you should go comparison shopping. 
With your home likely being your largest investment, you’ll want a strong homeowners policy to keep yourself financially secure. Homeowners insurance protects your home from sudden, unexpected damage from fire, theft, storms, and other perils. 
Buying and understanding
homeowners insurance
can be a daunting task. The good news is home and
car insurance
broker and comparison app
is here to help. Jerry created this guide so you can learn everything you need to know about homeowners insurance in Rhode Island.
Compare auto insurance policies
No spam or unwanted phone calls · No long forms · No fees, ever

What is homeowners insurance? 

Homeowners insurance is a form of insurance that covers your house, property, and possessions against damage and losses. With homeowners insurance, repairs that could cost tens of thousands of dollars can be paid for by your insurer.
In the U.S., the average homeowners insurance policy costs $1,387 per year or $115 per month

Basic components of homeowners insurance

The average homeowners policy offers the following protections:
  • Coverage A (Structure): You’re covered for damage to the physical house.
  • Coverage B (Additional structures): You’re covered for damage to other structures on the property. This includes pools, fences, and sheds.
  • Coverage C
    (Personal property): You’re covered for the personal possessions kept in the house, like furniture, electronics, and jewelry.  
  • Coverage D (Additional expenses): You’re covered for expenses you accrue when displaced from your home if it is made unlivable by unexpected damages. Also known as loss of use coverage.
  • Coverage
    E (Personal liability): You’re covered for legal costs if someone is harmed on your property.
All homeowners policies either cover you for the property’s actual cash value (ACV) or its replacement cost. The replacement cost is how much you’d spend to fully repair the damages, regardless of your home’s current value.
You’ll likely be required to have a policy that covers you for at least 80% of replacement cost.

Named perils

Homeowners insurance only offers coverage for perils named on the policy. Named perils are all unexpected, sudden damages to your home, property, or possessions. While not all policies are the same, expect coverage for:
  • Fire
  • Lightning 
  • Wind
  • Hail
  • Hurricanes
  • Damage caused by vehicles
  • Theft
  • Vandalism
  • Riots
  • Falling objects
  • Explosions
Make sure you know what your policy covers you for—you don’t want to find out after an incident that you’re not covered!

Is homeowners insurance required in Rhode Island? 

Homeowners insurance is not required in Rhode Island. That said, you may be required to have homeowners insurance to get a mortgage, depending on your lender. 

How to get homeowners insurance

The first step to getting a homeowners insurance policy is to go comparison shopping. Comparison shopping is looking at quotes from different insurance companies to see where you can get the best price. If you’d like to simplify the insurance shopping process, then you should download the
If you own a vehicle, you should consider bundling your
home and auto
policies with the same insurer. This can earn you savings of up to 25% off!
Rhode Island homeowners will want to make sure they’re covered against damage caused by water damage, hurricanes, windstorms, and floods.
The average homeowners policy should offer protection against water damage, hurricanes, and windstorms. However, flood insurance is a separate policy that must be purchased separately. Check to see if your home insurance provider also offers flood insurance. 
Here are three strategies that can help you protect your home against possible flood damage: 
  • Water backup coverage can pay for water removal and repairs following a burst or backed-up pipe.
  • Flood insurance
    protects your home from flooding from a source outside of your home. You can get it through FEMA’s
    National Flood Insurance Program (FLIP)
    or a referral. 
  • An HO-5 or open perils policy covers any peril unless it’s specifically listed as an exclusion in your policy

Why is homeowners insurance in Rhode Island so expensive? 

Homeowners insurance in Rhode Island is slightly below the national average with an average cost of $1200 a year. That comes out to $100 a month. However, prices can vary wildly for Rhode Island homeowners. Your credit score, personal demographics, and the size of your home all impact the cost of your personal policy.
Here are a few factors causing insurance prices to be so expensive in Rhode Island.

Old homes

Rhode Island is the state with the second-highest median age for homes in the United States. With an average age of 60, Rhode Island houses are more likely to be aged than almost anywhere else in the country.
Homes more than fifty years old are charged a higher premium. Plus, old homes are more susceptible to damages and pricy repairs, making a claim more likely. This contributes to higher insurance prices in the state.

Extreme weather

This coastal New England state deals with plenty of extreme weather events that can damage homes. Blizzards, storms, wildfires, and even tornadoes have been known to cause trouble in Rhode Island. With these weather events listed as named perils, that means there is a spike in homeowners insurance claims. To combat this increase in claims, prices in the area go up.

Homeowners insurance discounts in Rhode Island

Don’t spend more than you need to on your insurance policy. Take advantage of these discounts to keep your prices down!
How to get it
Bundle your home and auto insurance with the same provider to get big discounts.
First-time homeowner
Those buying their first house are likely eligible for a discount.
No claims
Homeowners who haven’t made an insurance claim in multiple years can get a discounted rate.
Storm proofing
Protect your house—and earn a discount—by storm-proofing your home.
Security system
A better anti-theft security system can lead to a discounted insurance premium.
Upgraded fire alarm
A fire alarm that contacts the fire department directly will get you a discount for a shorter fire response time.

How to save on home and auto insurance

If you want to find great
homeowners insurance
at an affordable price, you need to download
. Jerry is a licensed brokerage app that helps you save time and money when insurance shopping.
A quick sign-up gives you access to a long list of insurance quotes, all from top providers. Simply use these quotes to find the coverage you want at a price you like. Plus, Jerry helps with all your paperwork once you’ve made a selection!
Plus, for those interested in bundling, Jerry can also find you a great deal on your
car insurance
found me a cheaper home insurance policy right after I downloaded the app. I was so impressed, I decided to check for a cheaper auto insurance policy as well. I saved nearly a thousand dollars in five minutes.”— Tina K.
Let Jerry find your price in only 45 seconds
No spam · No long forms · No fees
Find insurance savings (100% Free)


Compare Car Insurance Quotes For Free
Jerry automatically shops for your insurance before every renewal. Members save $872/year.
rating primary
Rating on App Store
Start saving money!
12,000+ Reviews
Trusted by 3.5M car owners like you

You might also be interested

Easiest way to compare and buy car insurance

No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
Find insurance savings — it's 100% free