Rhode Island Homeowners Insurance

Reviewed byPlaininsure Editorial, Homeowners Insurance Transparency Editorial Team · June 4, 2026

U.S. Treasury FIO data for 73 ZIP codes in Rhode Island (RI).

Homeowners in Rhode Island pay an average of $2,292 per year for home insurance — 29% above the national average of $1,776. That ranks Rhode Island as the 9th most expensive state out of 51 for homeowners insurance. Between 2018 and 2022, premiums rose by 5.4%; nonrenewal rates climbed by 17.1% over the same period.

On five-year premium growth (2018–2022), Rhode Island ranks 26th out of 51 states. Its nonrenewal rate (1.16%) ranks 22nd out of 50 — nonrenewal is an early warning indicator of insurer retreat, often tied to disaster risk.

Source: U.S. Department of the Treasury, Federal Insurance Office — "Analyses of U.S. Homeowners Insurance Markets, 2018–2022." Premium values are five-year averages across all ZIP-level observations. See methodology for caveats.

Avg Premium

$2,292/yr

National avg: $1,776 (+29% above)

Premium Change

+5.4%

2018-2022 change

Avg Loss Ratio

33.7%

Claims paid vs premiums earned

Nonrenewal Rate

1.16%

+17.1% change

Data Snapshot: Rhode Island Homeowners Insurance

Rhode Island homeowners paid an average of $2,292 per year for home insurance based on U.S. Treasury FIO data covering 73 ZIP codes across the state. That is 29% above the national average of $1,776 per year reported by the Federal Insurance Office. Rhode Island ranks 9th most expensive out of 51 states and territories on annual premium, with ZIP-level observations ranging from $1,618 in 02833 to $6,857 in 02807.

Between 2018 and 2022, average premiums rose by 5.4% in Rhode Island, placing the state 26th nationally on five-year premium growth. The state-level loss ratio averaged 33.7%, meaning insurers retained a healthy margin after claims, typical of stable markets. Nonrenewal rates — the share of policies insurers decline to extend at expiration — averaged 1.16%, a climb of 17.1% over the study period (ranking 22nd out of 50 states).

Within Rhode Island, premium dispersion across ZIP codes is substantial: the most expensive ZIP (02807 in Block Island) charges 324% more than the least expensive (02833 in Hopkinton), reflecting local differences in catastrophe exposure, construction costs, and claims history. The FIO dataset aggregates voluntary reporting from the 40 largest homeowners insurers covering roughly 80% of the U.S. market, so ZIP-level figures represent market averages rather than individual quotes; actual premiums vary with dwelling value, deductible, coverage limits, and insurer-specific underwriting. This page is for educational research only and is not insurance advice — homeowners should obtain quotes from multiple licensed carriers or an independent agent before purchasing or renewing coverage.

Loss Ratio Reading: Rhode Island

Rhode Island statewide — FIO 2018-2022 average: 34% (Insurer-favorable) — low claim payout — insurer retains a healthy margin.

ZIP Codes Tracked

Reporting Period

2018-2022

Source

U.S. Treasury FIO

Premium Trends (2018-2022)

Year	Avg Premium	Median Premium	Loss Ratio	Claim Freq	Nonrenewal
2018	$2,176	$1,948	38.8%	6.73%	0.99%
2019	$2,214 (+1.7%)	$1,962	30.5%	4.44%	2.96%
2020	$2,252 (+1.7%)	$2,007	28.8%	5.33%	0.93%
2021	$2,285 (+1.5%)	$1,987	36.0%	5.68%	0.87%
2022	$2,292 (+0.3%)	$2,002	33.7%	4.64%	1.16%

Average Premium by Year

$2,176

2018

$2,214

2019

$2,252

2020

$2,285

2021

$2,292

2022

Most Expensive ZIP Codes in Rhode Island

Most Affordable ZIP Codes in Rhode Island

All ZIP Codes in Rhode Island

73 ZIP codes sorted by premium (highest first). Click column headers to sort.

ZIP	City	Premium	Loss Ratio	Claims	Nonrenewal
02807	Block Island	$6,857	9.5%	0.87%	1.75%
02840	Newport	$4,801	17.6%	3.66%	0.67%
02837	Little Compton	$4,581	6.0%	1.16%	0.58%
02835	Jamestown	$4,280	18.8%	3.93%	0.54%
02906	Providence	$3,242	18.8%	5.08%	0.80%
02882	Narragansett	$3,227	16.6%	4.25%	0.63%
02874	Saunderstown	$3,068	27.3%	5.40%	0.69%
02891	Westerly	$3,041	17.0%	2.66%	0.72%
02818	East Greenwich	$2,960	34.4%	6.38%	1.31%
02813	Charlestown	$2,913	11.3%	2.58%	0.81%
02842	Middletown	$2,823	15.1%	3.52%	1.04%
02903	Providence	$2,795	17.9%	5.52%	0.55%
02806	Barrington	$2,765	35.5%	3.93%	0.93%
02871	Portsmouth	$2,722	19.5%	3.60%	1.15%
02879	Wakefield	$2,685	26.1%	4.33%	0.81%
02907	Providence	$2,474	49.2%	6.32%	1.95%
02872	Prudence Island	$2,469	1.4%	1.04%	0.52%
02852	North Kingstown	$2,379	86.0%	4.61%	0.83%
02905	Providence	$2,342	42.4%	6.80%	1.54%
02881	Kingston	$2,329	26.5%	5.47%	0.46%
02878	Tiverton	$2,299	16.9%	3.66%	1.36%
02921	Cranston	$2,298	41.1%	5.18%	1.11%
02809	Bristol	$2,279	20.0%	3.25%	1.16%
02831	Hope	$2,255	36.3%	4.62%	1.23%
02857	North Scituate	$2,233	28.0%	4.81%	1.48%
02825	Foster	$2,209	27.9%	3.98%	1.40%
02815	Clayville	$2,191	N/A	N/A	3.33%
02863	Central Falls	$2,185	88.5%	5.91%	1.56%
02909	Providence	$2,164	41.1%	5.41%	1.62%
02822	Exeter	$2,163	26.9%	4.73%	0.91%
02817	West Greenwich	$2,162	35.6%	6.05%	0.80%
02827	Greene	$2,152	47.4%	5.50%	0.71%
02865	Lincoln	$2,148	35.2%	5.63%	0.77%
02892	West Kingston	$2,096	33.6%	7.74%	0.32%
02885	Warren	$2,090	29.7%	2.54%	0.93%
02908	Providence	$2,042	46.5%	6.41%	1.89%
02860	Pawtucket	$2,002	47.7%	5.63%	2.24%
02896	North Smithfield	$2,000	33.0%	4.62%	1.19%
02812	Carolina	$1,988	12.7%	3.25%	0.89%
02814	Chepachet	$1,956	43.0%	4.13%	0.79%
02886	Warwick	$1,948	41.1%	5.72%	1.40%
02838	Manville	$1,948	31.5%	5.96%	2.06%
02828	Greenville	$1,947	41.3%	6.92%	1.03%
02876	Slatersville	$1,945	65.7%	6.56%	N/A
02916	Rumford	$1,936	30.2%	4.51%	0.92%
02889	Warwick	$1,894	35.9%	5.83%	1.60%
02830	Harrisville	$1,894	45.0%	4.26%	1.26%
02917	Smithfield	$1,888	61.5%	6.33%	1.07%
02888	Warwick	$1,865	38.5%	5.32%	1.16%
02920	Cranston	$1,848	54.4%	6.46%	1.35%
02904	Providence	$1,844	52.2%	6.41%	1.73%
02873	Rockville	$1,838	20.6%	4.05%	1.35%
02893	West Warwick	$1,824	35.4%	4.46%	1.21%
02919	Johnston	$1,817	47.1%	7.18%	1.59%
02864	Cumberland	$1,813	37.2%	4.84%	1.10%
02808	Bradford	$1,803	9.7%	1.32%	0.44%
02875	Shannock	$1,800	25.5%	2.90%	1.45%
02826	Glendale	$1,792	37.6%	5.71%	0.48%
02839	Mapleville	$1,792	37.2%	4.10%	1.37%
02804	Ashaway	$1,789	16.7%	3.39%	0.97%
02894	Wood River Junction	$1,787	22.8%	3.73%	1.24%
02832	Hope Valley	$1,787	25.3%	4.08%	0.62%
02910	Cranston	$1,781	41.4%	5.90%	1.49%
02911	North Providence	$1,759	59.8%	8.38%	1.48%
02858	Oakland	$1,751	16.2%	2.19%	2.19%
02915	Riverside	$1,744	39.6%	3.63%	1.14%
02816	Coventry	$1,738	36.3%	4.35%	1.15%
02898	Wyoming	$1,733	31.0%	3.56%	0.21%
02895	Woonsocket	$1,719	46.0%	4.54%	1.21%
02859	Pascoag	$1,709	44.2%	4.86%	1.27%
02914	East Providence	$1,690	45.3%	4.79%	1.90%
02861	Pawtucket	$1,641	42.2%	4.68%	1.35%
02833	Hopkinton	$1,618	25.3%	3.08%	0.44%

Rhode Island Insurance Guides

Why Is Homeowners Insurance So Expensive?

Key factors driving premium increases nationwide

The Insurance Nonrenewal Crisis

Why insurers are dropping policyholders and what it means

Understanding Loss Ratios

What loss ratios reveal about your state's insurance market

Insurance Costs by State

How Rhode Island compares to other states

Related Data for Rhode Island

Natural Disaster Risk

FEMA disaster & NOAA storm data for Rhode Island

Wildfire Risk Data

USDA wildfire risk assessments for Rhode Island

Rental Market Data

HUD fair market rents in Rhode Island

Cost of Living

BEA regional price parities across metros

Property Taxes

County property tax rates in Rhode Island

Climate Data

NOAA climate normals for Rhode Island

Frequently Asked Questions

What is the average homeowners insurance cost in Rhode Island? ▼

The average homeowners insurance premium in Rhode Island is $2,292 per year, based on U.S. Treasury FIO data covering 73 ZIP codes. This is 29% above the national average of $1,776.

How have insurance premiums changed in Rhode Island? ▼

Rhode Island homeowners insurance premiums changed by +5.4% between 2018 and 2022. The average loss ratio is 33.7%, meaning insurers pay out that percentage of earned premiums in claims.

Which ZIP code has the most expensive insurance in Rhode Island? ▼

The most expensive ZIP code for homeowners insurance in Rhode Island is 02807, with an average premium of $6,857/yr. The most affordable is 02833 at $1,618/yr.

What is the nonrenewal rate for Rhode Island homeowners insurance? ▼

The average nonrenewal rate in Rhode Island is 1.16%. This rate has changed by +17.1% from 2018 to 2022. Nonrenewals occur when an insurer declines to renew an existing policy at expiration. ZIP 02815 has the highest nonrenewal rate in the state at 3.33%.

What is a loss ratio and what does Rhode Island's mean? ▼

A loss ratio measures how much an insurer pays out in claims compared to premiums collected. Rhode Island's average loss ratio is 33.7%. Ratios above 100% indicate insurers are paying more in claims than they collect, which often leads to premium increases.

How often do homeowners file insurance claims in Rhode Island? ▼

The average claim frequency in Rhode Island is 4.64%, meaning that percentage of policies result in a claim each year. The average claim severity (cost per claim) is $16,210. Higher claim frequency and severity typically correlate with higher premiums.

Source: U.S. Department of the Treasury, Federal Insurance Office (FIO) Homeowners Insurance Data (2018-2022). Premiums are ZIP-level averages and may not reflect individual policy costs U.S. Department of the Treasury, Federal Insurance Office (FIO) Homeowners Insurance Data (2018-2022). Premiums are ZIP-level averages and may not reflect individual policy costs

Browse all → | Rankings →

Data sourced from official U.S. government datasets. See our methodology for details. Retrieved and formatted by PlainInsure Editorial

Reviewed byPlaininsure Editorial, Homeowners Insurance Transparency Editorial Team · June 4, 2026

Verify with HUD → · Verify with NOAA → · Verify with FEMA →