Best Homeowners Insurance in Rhode Island (2024)

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Updated: December 4, 2024

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Amica is Rhode Island's top home insurance company, saving you money without compromising quality. Its superior offering caters to various needs, ensuring you find a suitable policy. State Farm is the most economical choice for budget-conscious homeowners. For those with new homes, Nationwide is the best choice.

Our assessments were based on a default dwelling coverage of $100,000. Remember, the level of dwelling coverage you choose will influence your premium. MoneyGeek has also researched the cheapest home insurance in Rhode Island for budget-focused customers.

Key Takeaways

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In Rhode Island, State Farm ranks as the best overall homeowners insurance provider, achieving a MoneyGeek score of 92 out of 100. It stands out for its cost-effective coverage options, making it ideal for budget-conscious homeowners. Amica follows as the runner-up, with a MoneyGeek score of 91 out of 100, offering excellent service quality at a competitive rate. When selecting a provider, consider both affordability and service offerings to ensure the best fit for your needs.

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In Rhode Island, State Farm emerges as the cheapest homeowners insurance provider, offering a competitive rate of $603 per year. This makes it an excellent choice for budget-conscious homeowners. The runner-up in affordability is Amica, ensuring you have multiple options for balancing cost and coverage quality.

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For homeowners in Rhode Island prioritizing exceptional customer service, Amica stands out as the best insurance provider with a MoneyGeek score of 91 out of 100. As the runner-up for service quality, Nationwide earned a score of 62 out of 100. Amica offers a blend of reliable service and comprehensive coverage, ensuring peace of mind for homeowners.

Why Trust MoneyGeek? To determine the best homeowners insurance options in Rhode Island, we compiled quotes and information from the Rhode Island Insurance Division and Quadrant Information Services, ensuring that data and industry standards back our recommendations.

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Home insurance rates in Rhode Island represent the latest quotes as of July 2024.

604,896Quotes Analyzed
 
8Companies Compared
 
5ZIP Codes

Overall Best Homeowners Insurance in Rhode Island

Amica is the best homeowners insurance provider in Rhode Island for those looking for exceptional coverage. Take a look at the best overall homeowners insurance providers:

  • Amica: MoneyGeek score of 88 out of 100 ($900 per year)
  • State Farm: MoneyGeek score of 84 out of 100 ($603 per year)

Rhode Island offers a range of home insurance companies that present various cost and service experiences. Finding the right balance between affordability and quality service is crucial, and it is essential to consider your personal needs when selecting a provider. Carefully weigh the cost against the service offerings to ensure you make an informed decision for your home insurance.

Company logo for Amica Mutual
Best OverallAmica Mutual
MoneyGeek Score:
88/ of 100
Overview

Amica excels in customer satisfaction, claiming the top ranking in Rhode Island. Its average annual premium is $900.

Amica provides add-ons to enhance protection for homeowners. Home business property extends coverage for business equipment and inventory, which is vital for those operating a business from their residence. Its loss assessment plan covers additional costs for property damages or liability claims that may exceed a homeowners' association's policy limits, safeguarding the homeowner's finances in communal living situations.

Best Homeowners Insurance in Rhode Island for Customer Service

Amica is the leading home insurance provider in Rhode Island, ensuring top-tier service quality for homeowners. Explore the best homeowners insurance providers in Rhode Island for service quality.

  • Amica: MoneyGeek score of 91 out of 100 ($900 per year)
  • Nationwide: MoneyGeek score of 62 out of 100 ($842 per year)

Valuing service quality in a home insurance provider means prioritizing responsiveness, support and hassle-free claims processing. Homeowners deserve a provider that offers a helping hand swiftly and efficiently, such as during a stressful event like a burst pipe causing water damage.

Company logo for Amica Mutual
Best for ServiceAmica Mutual
MoneyGeek Score:
91/ of 100
Overview

Amica leads the Rhode Island home insurance market with a perfect customer satisfaction score, indicating superior service. Its average annual premium is $900.

Amica offers extended home business property coverage to protect professional assets against damage or loss at home, an option providing valuable peace of mind for home-based entrepreneurs. Equally beneficial is its loss assessment coverage, which safeguards community property or shared spaces in housing developments. These tailored coverages exemplify Amica's commitment to comprehensive home protection.

Best Cheap Homeowners Insurance in Rhode Island

State Farm provides the cheapest homeowners insurance in Rhode Island. These providers rank as the top two best and cheapest insurers for cost-conscious homeowners:

  • State Farm: MoneyGeek score of 92 out of 100 ($603 per year)
  • Amica: MoneyGeek score of 86 out of 100 ($900 per year)

State Farm's perfect affordability score highlights its commitment to providing budget-friendly options for homeowners. While it offers the cheapest premiums, remember that the lowest price doesn't guarantee the best service. Considering both the average cost of home insurance in Rhode Island and the quality of service is crucial. For instance, in the event of a natural disaster, you'll want a provider that saves you money and provides reliable support.

Company logo for State Farm
Best CheapState Farm
MoneyGeek Score:
92/ of 100
Overview

State Farm shines in Rhode Island with a perfect affordability score. Its average annual premium is $603.

State Farm facilitates budget-friendly home protection by providing discounts such as protective device and roof replacement cost. The protective device discount encourages homeowners to install security systems, smoke alarms or other qualifying safety devices for savings. The roof replacement cost offers financial benefits for having a roof certified as impact-resistant, potentially lowering long-term repair costs.

Best Homeowners Insurance in Rhode Island for Expensive Homes

For those with expensive homes in Rhode Island, Amica is the leading home insurance provider. These providers are top choices for homes needing $1 million in dwelling coverage:

  • Amica: MoneyGeek score of 86 out of 100 ($4,983 per year)
  • State Farm: MoneyGeek score of 84 out of 100 ($3,477 per year)

Amica's high affordability score indicates a competitive rate for the high-value coverage many expensive homes need. Because these properties often necessitate more insurance, choosing a provider that delivers an ideal mix of cost efficiency and comprehensive coverage is crucial.

Company logo for Amica Mutual
Best for Expensive HomesAmica Mutual
MoneyGeek Score:
86/ of 100
Overview

Amica is the top-notch home insurance provider in Rhode Island for those with expensive homes. It has an impressive affordability score and an average annual premium of $4,983.

Amica offers discounts like bundle savings, which enhance affordability when you combine policies. It also provides added protections such as guaranteed replacement cost, which ensures your high-value home is completely covered in replacement circumstances. Amica offers back-up of sewer or drain coverage, providing a safety net against water damage.

Best Homeowners Insurance in Rhode Island for New Homes

Nationwide is unrivaled for home insurance in Rhode Island for new homes. These providers rank as the top two for a standard $500K dwelling coverage:

  • Nationwide: MoneyGeek score of 84 out of 100 ($1,432 per year)
  • Amica: MoneyGeek score of 72 out of 100 ($1,872 per year)

With an impressive affordability score and a commendable service rating, Nationwide offers an unbeatable combination of cost-efficiency and reliable customer service for those with new homes. Homeowners in Rhode Island can enjoy the peace that comes from this balance.

Company logo for Nationwide
Best for New HomesNationwide
MoneyGeek Score:
84/ of 100
Overview

Nationwide is the best home insurance provider for new homes in Rhode Island. It boasts a perfect affordability score and an average annual premium of $1,432.

Nationwide's guaranteed replacement cost coverage ensures your new home can be rebuilt to its original state, even if costs exceed your policy limits. Homeowners can also benefit from various savings opportunities from Amica. Its home renovation discount rewards you for modernizing plumbing, heating or electrical systems. Roofing material discount grants savings based on the age and type of your roof.

Best Homeowners Insurance in Rhode Island for Veterans

Amica is the top provider in Rhode Island for veterans seeking homeowners insurance, offering ideal coverage tailored to their specific needs. Take a look at the best and cheapest homeowners insurance providers in Rhode Island for veterans and military families:

  • Amica: MoneyGeek score of 88 out of 100 ($900 per year)
  • State Farm: MoneyGeek score of 84 out of 100 ($603 per year)

The leading homeowners insurance company for veterans provides more than just financial security; it understands the importance of flexibility for those who face frequent relocations and deployments. Top insurers ensure comprehensive protection of their assets no matter where their service takes them.

Company logo for Amica Mutual
Best for VeteransAmica Mutual
MoneyGeek Score:
88/ of 100
Overview

Amica is the top home insurance provider for veterans in Rhode Island, with excellent affordability and customer satisfaction scores. Its average annual premium is $900.

Amica's guaranteed replacement cost coverage ensures dwelling replacement without limiting cost, which is a vital safety net against underinsurance. Veterans can also benefit from Amica's discounts, which include a loyalty discount, which is available after consistent coverage with the company. Its electronic discount rewards those who manage their policy online, streamlining insurance management for tech-savvy veterans.

How to Find the Best Homeowners Insurance in Rhode Island for You

The best homeowners insurance providers balance excellent customer service and robust coverage at a reasonable price. However, your individual requirements will dictate which policy best fits you, considering factors such as your home's value and your risk tolerance. These steps will guide you through selecting top-tier homeowners insurance, ensuring you make an informed and financially savvy decision tailored to your unique circumstances.

  1. 1

    Assess Your Insurance Needs

    Begin by determining how much home insurance coverage you need to protect your home and belongings. It's essential to estimate accurately the cost of rebuilding your home, replacing personal items and protecting against possible liabilities. This foundational step is necessary to ensure you're neither underinsured nor overpaying for coverage you don't need.

  2. 2

    Research Various Providers

    Investigate potential insurers by reviewing their financial stability, reputation for customer service and breadth of coverage options. Look for a company that's financially capable of handling claims and offers exceptional service. Exploring customer reviews and ratings can provide insight into the experiences of current and past policyholders.

  3. 3

    Compare Coverage and Costs

    Once you've narrowed down the list of potential insurers, examine their policies and pricing details. Focus on the type and amount of coverage provided, as well as deductibles and exclusions. It's essential to weigh the protection offered against the cost. Premiums can vary considerably between companies for similar coverage levels. Use resources to compare home insurance quotes effectively.

  4. 4

    Understand the Policy Details

    Knowing the specifics of each policy will enable you to make a well-informed decision. Familiarize yourself with terms such as "actual cash value" vs. "replacement cost" and understand limitations and riders that might be necessary for full protection. It's crucial to grasp how claims processes work and what obligations you have as a policyholder.

  5. 5

    Consult With an Independent Agent

    For an unbiased perspective, engage with an independent insurance agent who can offer insights into the various policies and guide you through the selection process. They can answer complex questions and provide recommendations based on your unique needs without being tied to one insurance provider's products.

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DOES HOME INSURANCE COVER FLOOD DAMAGE IN RHODE ISLAND?

Flood insurance is not legally required for Rhode Island homeowners. However, considering the flood risks in the area, having flood insurance in Rhode Island is beneficial.

FAQ: Homeowners Insurance in Rhode Island

Selecting the top homeowners insurance provider in Rhode Island is a personalized process guided by your unique requirements. The answers to these commonly asked questions about homeowners insurance will help you make an informed choice.

Which insurance company is best for home insurance in Rhode Island?

Who has the most affordable homeowners insurance in Rhode Island?

About Mark Fitzpatrick

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Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.

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