Who Has the Cheapest Homeowners Insurance Quotes in Rhode Island?

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Rhode Island, “The Ocean State”, is located in the northeastern part of the United States, commonly referred to as New England. Though it is one of the smallest states by area, Rhode Island is the second most densely populated state in the nation. The entire state is roughly 1,200 square miles in size, and has a population of 1 million – approximately 833 residents per square mile. Its official name is State of Rhode Island and Providence Plantations – having a longer character length than any other state.

We have studied homeowners insurance rates in the state of Rhode Island, with the goal of revealing an important cost associated with owning a home here. The statewide average premium was $1,005 – prices can vary by as much as 19% from the state mean. In order to conduct this study, we sampled quotes for one benchmark property in 27 different Rhode Island cities. Read more below, or enter your zip code above to begin finding homeowners insurance quotes.

Cheapest Homeowners Insurance Companies in Rhode Island

We conducted a study to find the cheapest homeowners insurance in Rhode Island using quotes for a benchmark 2,000 square-foot home across 27 towns and cities in the state. We averaged the data for each insurance company in our study, Nationwide and Allstate (Amica did not provide quotes). Of the two companies, Nationwide was cheaper than Allstate by about 25% for our sample property. The average annual rates are listed below for the insurance companies:

A study of available data showed Nationwide had the best homeowners insurance rates.

RankCheapest Homeowners Insurance CompaniesAverage Annual Rates
1 Nationwide $995
2 Allstate  1,328
Average  1,162

The above rates were for a sample property. To find the best rates for yourself, we recommend finding quotes from multiple insurance providers and compairng them. 

Best Homeowners Insurance Rates in Rhode Island: by City

It costs approximately $934 per year, to insure our model home in one of the five cheapest cities for homeowners insurance in Rhode Island. These cities have very little in common – being spread all throughout the state and have various population levels. One characteristic shared by all these cities is their less than average crime rates – something which tends to correlate with low insurance prices.

Rank City Average Premium Change vs. State Average
1 North Kingstown $915 -9%
2 Cranston $923 -8%
3 Bristol $939 -7%
4 Tiverton $943 -6%
5 Kingston $949 -6%

North Kingstown, RI

We found the cheapest home insurance rates in North Kingstown, Rhode Island. The city can be found in the north eastern tip of Washington County. North Kingstown is the home of 35,000 residents – making it one of the largest cities in the state. Gilbert Stuart, a famous American painter, was born in North Kingstown. His birthplace still stands in the Saunderstown district of North Kingstown – now serving as a museum. When we examined home insurance prices in the city, we averaged prices of $915 for a standard one-year-long policy.

Cranston, RI

Located just outside of state capital, Cranston is a city of 81,000 residents – the state’s third largest population. Cranston has, over the years, gotten various accolades. These include being named as one of the safest cities in the country, and one of America’s best cities to live. Cranston has one more title in can add to its repertoire – one of the cheapest cities for home insurance in Rhode Island. Our benchmark property in Cranston was quoted prices in the neighborhood of $923 – 8% more affordable than the rest of the state.

Bristol, RI

The historic town of Bristol, incorporated in 1746, has the third cheapest home insurance rates in the state. The sample home we looked at averaged home insurance premiums of $939. Bristol has one of the longest-running Independence Day celebrations in the nation. According to some accounts, the first celebration occurred as early as 1777, on the first anniversary of the Declaration of Independence. To this day, Bristol has one of the most iconic 4th of July celebrations in the United States – even earning it a spot on a list of “Most Uniquely American Cities and Towns”.

Tiverton, RI

Tiverton, a town of 16,000, is located along the Narragansett Bay. The town has many historic landmarks located throughout, including Fort Barton. The fort was a key location for the planning and organizing of troops for several key military engagements, including the Battle of Rhode Island. Perhaps one of the lesser known victories achieved by Tiverton was that against homeowners insurance prices. The town has some of the state’s lowest home insurance premiums we found. The home included in our study, had typical insurance rates around $943 per year.

Kingston, RI

Originally called Little Rest, the village of Kingston has the fifth cheapest home insurance rates in the state of Rhode Island. Our study found that the average price of insuring our model home in Kingston was, on average, $949 annually. That is 6% better than the typical Rhode Island home. Kingston is the location of the University of Rhode Island – the major public research university in the state. To that end, the university also serves as one of Kingston’s major employers.

Most Expensive Homeowners Insurance in Rhode Island

It costs approximately $1,111 annually, to insure a home in the following Rhode Island cities and towns. That is 11% more than the typical Rhode Island home, making these the most expensive cities for homeowners insurance in the state. The price of an insurance policy can vary greatly, due to a number of factors – these can range from crime rates to the costs of labor and construction in an area. It is often times difficult to pin-point one specific reason behind a town or city having the insurance rates that it does.

Rank City Average Premium Change vs. State Average
1 Narragansett $1,195 19%
2 Providence $1,098 9%
3 Central Falls $1,096 9%
4 Westerly $1,086 8%
5 Newport $1,083 8%

Narragansett, RI

The town of Narragansett has some of the most expensive home insurance rates in Rhode Island. The average annual cost of insuring our model home here was $1,195 – 19% higher than the statewide average. Narragansett’s most famous landmark are The Towers – a remnant of the Narragansett Pier Casino, which dates back to 1883. This is not, however, the only history-rich structure in Narragansett. The Point Judith Lighthouse (built 1857) and the Narragansett Baptist Church (built 1850), are among the town’s oldest buildings. 

Providence, RI

Providence is the Rhode Island capital, and its most populous city. Dating back to 1636, Providence is believed to be one of the nation’s oldest cities. Brown University, one of only eight Ivy League schools in the United States, is located in the city – also serving as its top employer. Home insurance rates in Providence are less than desirable. The quotes gathered for a benchmark home were around $1,098 per year – that’s 9% more expensive than what we typically saw throughout Rhode Island.

Central Falls, RI

Central Falls is the most densely populated city in Rhode Island – it has a population of roughly 19,000 residents and a total area of 1.29 square miles. In 1676, Central Falls served as the grounds of one of the major engagements in King Philip’s War – a memorial stone known as the “Nine Men’s Misery” marks the site of a mass grave where some of the battle’s casualties were buried. Central Falls has one of the highest home insurance rates in all of Rhode Island. It would cost our sample homeowner approximately $1,096 per year to insure his property.

Westerly, RI

Westerly, a beachfront town in the south of Rhode Island, has a population of 23,000. During the summer months, however, this population can double due to tourists from around the region flocking to Westerly’s beaches and parks. One of the biggest draws to the area is the Misquamicut State Beach – an area which, on top of usual beach amenities, holds annual music festivals and other events. We discovered that the average cost of home insurance in Westerly, for our sample property, is $1,086 – 8% more than the statewide mean.

Newport, RI

Famous for its mansions, resorts, and seaside getaways, Newport is located just 23 miles outside of Providence. The city has served as a favorite vacation spot for both Dwight D. Eisenhower and John F. Kennedy, during their respective tenures as president. The city has more colonial era buildings than any other city in the United States. Insuring these homes will cost a pretty penny as well. We found that the average cost of home insurance policy in Newport, for the sample property we studied, was $1,083 per year.

Average Cost of Homeowners Insurance in Rhode Island: by City

The average cost of insuring our benchmark home in Rhode Island is $1,005. This figure was obtained by looking at 27 cities throughout the state. The price of home insurance in Rhode Island varied by as much as 19% from this mean, and by 26% between certain cities. The complete list of cities included in our study can be found below, ordered from least to most expensive. The number to the right of each city represents its average annual home insurance premium.

A study of homeowners insurance rates in Rhode Island found a sample policyholder paid an average of $1,005 per year.

Methodology

For the purposes of our study, we examined home insurance rates for a benchmark property in each of the 27 cities we looked at. Quotes were obtained from 2 different insurers (Allstate and Nationwide). The home we studied had a $200,000 reconstruction cost, was 2,000 square feet, and had a garage attachment. The model homeowner was a 41-year-old single male. He owned no pets and was a non-smoker. A complete list of all the cities in the study can be found below, in alphabetical order.

Rank City Average Premium Change vs. State Average
6 Barrington $951 -5%
3 Bristol $939 -7%
25 Central Falls $1,096 9%
8 Coventry $964 -4%
2 Cranston $923 -8%
15 Cumberland $996 -1%
16 Cumberland Hill $996 -1%
13 East Greenwich $991 -1%
17 East Providence $1,009 0%
14 Greenville $991 -1%
21 Jamestown $1,045 4%
5 Kingston $949 -6%
27 Narragansett $1,195 19%
23 Newport $1,083 8%
1 North Kingstown $915 -9%
18 North Providence $1,011 1%
22 Pascoag $1,060 5%
9 Pawtucket $966 -4%
7 Portsmouth $964 -4%
26 Providence $1,098 9%
12 South Kingstown $982 -2%
4 Tiverton $943 -6%
11 Warren $979 -3%
10 Warwick $969 -4%
20 West Warwick $1,022 2%
24 Westerly $1,086 8%
19 Woonsocket $1,016 1%

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