Rhode Island variant. This is a Rhode Island-specific version of the Homeowners Insurance Estimator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Homeowners Insurance Estimator.
Homeowners insurance in Rhode Island typically runs about 0.30%–0.40% of home value per year. On the $445,000 median home, that's roughly $1,558 annually.
What Rhode Island homeowners insurance covers
Premiums fund dwelling coverage, personal property, liability, and loss of use. Rhode Island's $445,000 median home value sets the baseline dwelling coverage and therefore the premium.
Local risk - wildfire, hurricane, hail, flood - drives big swings. Flood is separately insured. Use the estimator to refine the Rhode Island average for your build cost and deductible.
About taxes and housing in Rhode Island
Rhode Island uses a graduated income tax with a top marginal rate near 6%.
Rhode Island's effective property tax rate is around 1.4%, with median home values near $445,000.
Rhode Island's economy is tied to healthcare, education, defense, and a maritime tradition along Narragansett Bay.
Worked example: $445,000 home
$445,000 × 0.35% ≈ $1,558/year ($130/month). Replacement-cost coverage, not market value, ultimately sets the premium - land value is excluded.
Quick reference
- State income tax: 3.75-5.99% across 3 brackets
- State sales tax: 7% (plus 0.00% avg local)
- Median home value: $445,000
- Median household income: $81,854
- Effective property tax rate: 1.4%
- Avg auto insurance: $2,018/yr
Frequently Asked Questions
How much is homeowners insurance in Rhode Island?
Roughly $1,558/year on the $445,000 median home, varying with local catastrophe risk.
Does homeowners insurance cover floods in Rhode Island?
No - flood coverage is purchased separately through the NFIP or private insurers.