While is it the smallest state, Rhode Island also is home to a million people, a beautiful coastline in places, and a great deal of history. There are far worse places to raise a family and build a home, especially if you love the sea. Yet despite all these benefits, there are threats that can come in and wreak havoc on your home, leaving you without much left if you aren’t prepared. For this reason, we recommend just about homeowner have insurance. It’s cheap, and there are some excellent providers ready to help.
Here are the two cheapest homeowners insurance providers operating in Rhode Island:
The Two Cheapest Quotes:
We would like to note that not everyone will have the same or even a similar experience to what is listed below. Please consider the following information notes on trends and averages.
The number listed next to each provider is the average annual rate for a standard policy.
1) Nationwide: $995
The cheapest option on average we could find by quite a margin, Nationwide is a well-known homeowners insurance provider that as a general rule lets you customize your policy and coverage levels until you have a policy that’s tailored to your home. Normally more expensive, in Rhode Island, they are among the best in nearly every category of evaluation.
Yet while Nationwide is by default the cheapest on average in Rhode Island, they also are not the cheapest if you get optional coverages, which for Nationwide customers can skyrocket your rate into unaffordability. Be careful about what you need and get, and consider other options if the price grows too much.
You can expect the following working with Nationwide:
- A free and optional annual review of your policy.
- Plenty of discounts that can make a huge difference in your average annual rate.
- Quick claims processing that is always available and happy to help you.
2) Allstate: $1,328
One of the largest insurance companies in the country, Allstate is a bit of jump in price but they also have options available you might not find with other companies, which means most homes should at least give them a look. This combined with their wide range of discount options and the fact that they’re a great choice for older homes and people looking to bundle policies makes them a contender in the state.
Yet if you work with an insurance company, you’re primarily working with their customer service team. And when it comes to this Allstate tends to disappoint. Whether they’re pushy, slow to respond, or simply not the best when it comes to helping customers, Allstate agents and representatives can be hit or miss.
You can expect the following working with Allstate:
- Many different discount opportunities available, including device installation discounts, claim-free discounts, and others.
- Helpful and easy to use online and mobile apps, making insurance-related tasks easy no matter where you are. Allstate also has a library of helpful resources should you have any questions about insurance or your policy.
- Reliability and transparency in its dealings.
Other Notable Rhode Island Homeowners Insurance Providers
Getting averages for insurance companies in Rhode Island wasn’t always easy, and we couldn’t in good faith assign numbers to otherwise excellent companies. Nonetheless, we want you to consider these options as well:
The company we first think of when people are looking for an insurance company with excellent customer service, Amica stands out for this and for their ability to accommodate the needs of homes large and small alike. And with a notable bundling discount, we know that Amica will stand out to many homeowners who want an easy process.
And while they provide great service and decent plans, Amica doesn’t have too many extra options and customization opportunities when compared with other providers, so be careful if your home has special needs or you have property you want to especially protect.
You can expect the following working with Amica:
- Both standard and platinum coverage levels, with platinum having many more extra benefits you’ll want to review.
- Optional policy add-ons such as water backup, computers and electronics, loss assessment for communication property, credit card fraud, valuable items, and business property.
- A network of professionals that can help to repair your home should damage occur.
4) Liberty Mutual
Liberty Mutual is one of the most common providers of insurance in just about every state, and Rhode Island is no exception. You can expect them to give you a reliable policy with a few different options, and furthermore, they will give you plenty of ways to save if you’re worried about the expense of a plan. Consider Liberty Mutual if the other options aren’t a good fit or you want a standard policy.
And they are in the middle of the pack when it comes to most standards we would judge them by, but there is a particularly concerning trend regarding claims, in that more customers than usual aren’t getting their claims accepted or it’s taking longer than it should for claims to process. Be careful if you’re worried about this important part of the process.
You can expect the following working with Liberty Mutual:
- Plenty of different bundling and discount options, such as one for people who have recently bought a home.
- An inflation protection endorsement to help keep the rising costs of materials and labor in check.
- Partnerships with thousands of different organizations across the country, leading to perks and discounts.
While not necessarily a major insurance provider themselves, Progressive is more of a service that can act as an agent for you and help you find the cheapest rates and options in Rhode Island, often surpassing what would be your best efforts to handle things alone. And the experience is usually easy and painless, and you don’t need to commit to get valuable information.
And working with Progressive can be useful, but the information you get might not be comprehensive about every option you have, so you might need to put in a little more legwork, especially if you aren’t certain about the underwriter of your policy.
You can expect the following working with Progressive:
- A commitment to getting you the cheapest possible options.
- Plenty of helpful tools, apps, and resources so that you can get a better handle on your insurance situation.
- There will usually be several different tiers of service available.
While there aren’t as many providers in Rhode Island as you might find in other states, you will find that there are excellent options no matter where you live and what type of home you have. Whether you’re on the coast or are inland just a bit, make sure you get the policy options you need, consider your priorities, and reduce waste in your policy as much as possible. Whatever your final choice, we hope you find a good fit soon.