Best Homeowners Insurance Companies in Rhode Island

Narragansett Bay offers the cheapest homeowners insurance in Rhode Island, charging rates that average $1,090 a year.

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Narragansett Bay Insurance and Amica Mutual offer the best rates on homeowners insurance in Rhode Island. However, depending on your needs, a different company may be a better fit for you. Our guide to the best homeowners insurance companies in Rhode Island helps you find the right coverage for your home at the best price.

In this article

How much does homeowners insurance cost in Rhode Island?

The average cost of homeowners insurance for a typical Rhode Island home is $1,392 a year, or $116 a month. This amount is 27% lower than the national average of $1,903 a year.

The actual price you pay for home insurance depends on several factors, including:

  • The age and construction features of your home
  • Your ZIP code
  • The amount of coverage you need and the deductibles you choose
  • Your insurance history
  • Any discounts you may be eligible to receive

Since each home insurer uses a different system to calculate your premium, you may qualify for a much lower rate with one company than you do with others. This is why it’s best to compare quotes from multiple companies when you shop.

Get free home insurance quotes from top Rhode Island companies

How your deductible impacts your home insurance rate

Choosing a higher deductible is an easy way to shave a few bucks off your homeowners insurance rate.

Since your deductible is the amount of money that comes out of your pocket for property damage or theft, you don’t want it to be too high.

However, in Rhode Island, increasing your home insurance deductible from $1,000 to $2,000 saves you an average of 14% on premiums.

Deductible Annual rate
$500 $1,472
$1,000 $1,392
$1,500 $1,327
$2,000 $1,203
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

How your coverage limits impact your home insurance rate

The amount of coverage you place on your home also impacts the price you pay for homeowners insurance.

For example, a Rhode Island homeowners policy with a $425,000 dwelling limit costs 41% more than one with a $275,000 limit. The difference adds up to $47 a month.

Dwelling limit Annual rate
$200,000 $1,138
$275,000 $1,392
$350,000 $1,675
$425,000 $1,956
$500,000 $2,259
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Your policy’s dwelling limit is the maximum amount the insurance company pays to repair damage to your home from a covered peril, such as a fire or fallen tree.

If you have a mortgage, your lender will likely make you insure your home at its replacement cost value. This is the estimated cost of rebuilding it from the ground up.

If you have a low loan balance or no mortgage at all, it’s still best to insure your home at its replacement value. Doing so provides you with enough insurance money to rebuild after a major or total loss.

Adjusting the limits for the other coverages in your policy, including your personal property and liability coverages, also impacts your rate. However, changes to these other limits usually only have minor impacts on your price.

Cheapest homeowners insurance companies in Rhode Island

Narragansett Bay Insurance offers the cheapest homeowners insurance in Rhode Island. Its rates average $1,090 a year, or $103 a month, statewide.

The company’s rate is 22% lower than the state average.

The next-cheapest rate is available from Amica Mutual, which charges an average of $1,236 a year, or $103 a month.

Company Annual rate Monthly rate
Narragansett Bay $1,090 $91
Amica Mutual $1,236 $103
PURE $1,374 $114
State Average $1,392 $116
Nationwide $1,412 $118
AIG $1,472 $123
Allstate $1,526 $127
Farmers $1,631 $136
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Best homeowners insurance companies in Rhode Island

Amica Mutual, Narragansett Bay and Nationwide stand out as Rhode Island’s best homeowners insurance companies based on price, ratings, policy features and financial strength.

Best customer service: Amica Mutual

Amica Mutual Logo

Price: $1,236 a year

J.D. Power overall satisfaction score


Financial strength

Rated A+ by AM Best

Amica Mutual’s high satisfaction score reflects its ability to offer great customer service while also keeping its rates affordable. Along with standard homeowners insurance, the company offers expanded protections for your home through its Platinum policies.

Highest satisfaction score among Rhode Island companies in our analysis.

Increased protections for your home and belongings available through Platinum tier insurance policies.

Discounts for bundling, avoiding claims and setting up automated payment plans help make Amica’s already low rates more affordable.

Extended replacement cost coverage for your home is only available by upgrading to a Platinum package.

Best for saving money: Narragansett Bay


$1,090 a year

Financial strength

Rated A by Demotech

Headquartered in Johnston, Narragansett Bay does its home state a solid by offering the cheapest rates on homeowners insurance in Rhode Island.

Lowest average rates statewide.

Protection for home systems such as furnaces and water heaters available as an optional add-on.

Optional flood insurance endorsement extends most of your policy’s coverage limits to flood damage.

Since Narragansett Bay does not offer auto insurance, you can’t get a discount for bundling your homeowners policy with your car insurance.

Best policy features: Nationwide

Nationwide Logo

$1,412 a year

J.D. Power overall satisfaction score


Financial strength

Rated A+ by AM Best

Nationwide’s standard policies include a few features others don’t provide. It also offers optional upgrades that provide valuable extra protections.

Standard policies cover costs of bringing damaged portions of your home into compliance with new building codes.

Nationwide’s Better Roof Replacement pays to rebuild your roof with stronger materials after a covered loss.

The company’s smart home program provides discounts for installing a smartphone-linked home security system.

Nationwide’s average rate in Rhode Island is slightly higher than the state average.

The company’s satisfaction score is slightly lower than the segment average.

Customer service ratings for Rhode Island home insurers

Among the Rhode Island home insurance companies in our analysis, Amica Mutual has the best overall satisfaction score from J.D. Power. AIG and PURE tie for the best complaint rating from the National Association of Insurance Commissioners (NAIC).

J.D. Power’s overall customer satisfaction rankings are based on customer surveys rating insurance companies on factors like price, policy offerings and claims.

Amica Mutual’s overall customer satisfaction rating of 844, on a 1,000-point scale, is highest among the companies in our analysis.

However, J.D. Power does not include Narragansett Bay or PURE in its ratings.

Company Customer satisfaction rating
Amica Mutual 844
AIG 831
Segment average 819
Nationwide 812
Allstate 809
Farmers 800
Narragansett Bay Not included
PURE Not included
Source: J.D. Power 2023 U.S. Home Insurance Study

The NAIC’s Complaint Index compares insurance companies by confirmed complaints, which are complaints that lead to a finding of fault.

A company with a 2.0 Complaint Index rating has twice as many complaints as expected for its size. A company with a 0.5 rating has half as many.

AIG and PURE tie for the lowest, or best, Complaint Index rating among Rhode Island home insurance companies. Both companies specialize in high-value homes for affluent customers.

Narragansett Bay has the best Complaint Index rating among Rhode Island home insurers available to mainstream customers.

Company Complaint rating
AIG 0.04
PURE 0.04
Narragansett Bay 0.08
Amica Mutual 0.13
Nationwide 0.29
Allstate 0.33
Farmers 0.9
Source: National Association of Insurance Commissioners, 2022 data

Rhode Island home insurance rates by city

In the state’s largest cities, average home insurance rates range from $1,310 a year in Cumberland to $1,513 in Providence.

City Annual rate
Coventry $1,398
Cranston $1,483
Cumberland $1,310
East Providence $1,412
North Providence $1,478
Pawtucket $1,369
Providence $1,513
Warwick $1,397
Woonsocket $1,326
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Home insurance generally costs more in areas exposed to severe weather and/or with high crime rates.

Although you can’t control these risk factors, you can often earn discounts on home insurance by renovating your home with wind- and fire-resistant features. Monitored security systems and fire alarms typically also earn discounts.

Find cheap homeowners insurance in Rhode Island

Flood insurance in Rhode Island

Since homeowners insurance does not cover flood damage, you have to get flood insurance to protect your home from this risk.

Most flood insurance is bought through the government-backed National Flood Insurance Program (NFIP). However, several private companies also offer flood insurance in Rhode Island.

Narragansett Bay and PURE, for example, both offer flood insurance as an optional add-on to an existing home insurance policy.

The NFIP is managed by the Federal Emergency Management Agency (FEMA), which also maps flood risks in communities across the U.S.

If you apply for a mortgage for a home in a high-risk flood zone, your lender will require you to get flood insurance. You can buy flood insurance on an optional basis if you don’t have a mortgage and/or your home is in a low- or moderate-risk area.

According to FEMA, the average cost of NFIP flood insurance in Rhode Island is $938 a year, or $78 a month.

Those in high-risk areas tend to pay the most for flood insurance, while those in low- and moderate-risk areas usually pay less.


We collected quotes from every ZIP code in Rhode Island for a standard HO-3 homeowners insurance policy using the following coverages:

  • $275,000 dwelling (unless otherwise noted)
  • $27,500 other structures
  • $137,500 personal property
  • $55,000 loss of use
  • $100,000 liability
  • $5,000 medical payments
  • $1,000 deductible (unless otherwise noted) LLC has made every effort to ensure that the information on this site is correct, but we cannot guarantee that it is free of inaccuracies, errors, or omissions. All content and services provided on or through this site are provided "as is" and "as available" for use. LLC makes no representations or warranties of any kind, express or implied, as to the operation of this site or to the information, content, materials, or products included on this site. You expressly agree that your use of this site is at your sole risk.