Compare multiple homeowners insurance quotes and find the best insurer near you.
If you live in Rhode Island, then you are in luck. The Island, nicknamed the Ocean State from its access to the expansive Atlantic Ocean, is the smallest state in the US. There are a lot of options for homeowner’s looking to buy coverage in the Ocean State ranging from local to nationally renowned homeowner’s insurance providers. There is no legal requirement for homeowners to purchase insurance for their homes in Rhode Island.
The average cost of homeowners insurance in Rhode Island is $1,398, data from the Insurance Information Institute show. Compared to the national average which stands at $1,132, the cost of Rhode Island homeowners Insurance is relatively high — 7th highest in the nation as of 2014. Insurance providers consider several factors when determining the cost of insurance including your claim’s history, credit report, discounts applied to the premium, deductible, amount of coverage, and the type of construction.Due to its close proximity to the Atlantic, the Ocean State has several large bays and inlets. Residents of Rhode Island should consider purchasing flood insurance coverage to protect themselves from losses that may occur from flood-related disasters. Typically, a standard homeowners insurance plan does not cover flood damage. Seek advice from your agent before you purchase flood insurance.
Owning a home has is its perks, but if you are not careful, the costs that come with it can easily drown you. Besides having to pay for utilities such as gas and electric, you have to keep up with the mortgage payments or the bank will foreclose your home. but there is good news, your homeowner’s insurance costs don’t have to be super high.
The cost of Rhode Island home insurance can vary greatly from one insurance to the next, with changes amounting to hundreds of dollars. The best way to ensure that you get the best prices is to shop around. Also, ask for discounts, raise your deductible, and make sure that you bundle your homeowner’s and auto insurance policies.