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Rhode Island Home Insurance

Rhode Island home insurance provides the much needed property damage protection for your home. There are a few policies that are specific to single family homes. The basic policy, known as the HO-2 policy, covers many perils including fire, smoke, vehicle damage, aircraft damage, water overflow from water heaters and air conditioners, theft, vandalism, explosions, and damages caused by riots. The broad HO-3 policy covers all those perils plus has bodily injury liability protection. If you’ve purchased a home using a mortgage lender, they usually require that you carry Rhode Island home insurance for the duration of the loan.

Rhode Island Home Insurance Rates

Rhode Island can have increased rates for home insurance for a number of reasons. Many companies raise rates after disasters, but the prevalence of strong thunderstorms and hailstorms can raise the rates much faster. If you live in an area that has a history of flooding, then you will need additional flood insurance to cover damages caused by flood water. Rhode Island home insurance does not provide coverage for flood damage. Homeowners can review the “exclusions” section of their policy to see what will not be covered.

Rhode Island home insurance cost annually close to what the national average was in 2003. Home insurance cost an average of $673 annually in 2003. The homeowner rates rose 19.8% from 2001 to 2003. Rates usually rise in an area due to increased claims and increased costs for doing business in the state.

Saving Money

Many homeowners want to cut their premium rates, but do not know any methods to accomplish that. We have come up with a few simple things for you to do to decrease your Rhode Island home insurance. For instance, you can weatherize your home against strong storms by installing storm shutters and reinforcing your roof. Homeowners can also find discounts by purchasing both their home and auto insurance through the same provider. Most insurance companies offer a discount when you buy more than one policy through them. For the prudent, shop around before buying your Rhode Island homeowners insurance.

Rhode Island Department of Business Regulation Division of Insurance

Department of Business Regulation
233 Richmond Street
Providence, RI 02903
Phone Number (401) 222-2246


For other Rhode Island Insurance Resources, See:


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