- Best condo insurance companies in Rhode Island
- Average condo insurance cost in Rhode Island
- Condo insurance rates in Rhode Island by company and coverage level
- Condo insurance rates by company in Rhode Island
- Compare condo insurance rates by city in Rhode Island
- Methodology
- FAQ
- Compare Rhode Island condo insurance rates with other states
Best condo insurance companies in Rhode Island
There are many companies offering condo insurance coverage in Rhode Island. State Farm is the best condo insurance company in Rhode Island based on our analysis. Our insurance experts reviewed prices and ratings from trusted sources like the National Association of Insurance Commissioners (NAIC) and AM Best.
Based on our research, here are the best condo insurance companies in Rhode Island.
| Company | Annual annual premium | AM Best | NAIC | Insurance.com rating |
|---|---|---|---|---|
| State Farm | $446 | A+ | 1.15 | |
| Amica | $532 | A+ | 0.37 | |
| Farmers | $468 | A | 0.89 | |
| Allstate | $627 | A+ | 1.26 | |
| Nationwide | $550 | A | 1.34 |
Average condo insurance cost in Rhode Island
The average cost of condo insurance in Rhode Island is $604 per year or $50 per month for $60,000 in personal property coverage, $300,000 in liability coverage and a $1,000 deductible. Your actual annual premium will vary depending on:
- Where you live
- Coverage limits and deductible
- Age of the building and construction materials
- Your claims history and credit score
To find the cheapest company for you, compare quotes from multiple insurance providers and choose the coverage that fits your needs.
| Average annual premium | $604 |
| Average monthly premium | $50 |
Condo insurance rates in Rhode Island by company and coverage level
Heritage Insurance Holdings provides the lowest condo insurance rates in Rhode Island for policies with limits of $60,000 in personal property coverage and $300,000 in liability coverage with a $1,000 deductible.
The second most affordable option is State Farm at $446 per year. However, prices will vary depending on the coverage level you choose.
The table below shows condo insurance rates from top companies at different coverage levels.
| Company | $40,000 contents/$100,000 liability | $40,000 contents/$300,000 liability | $60,000 contents/$100,000 liability | $60,000 contents/$300,000 liability | $80,000 contents/$100,000 liability | $80,000 contents/$300,000 liability | $100,000 contents/$100,000 liability | $100,000 contents/$300,000 liability |
|---|---|---|---|---|---|---|---|---|
| Heritage Insurance Holdings | $229 | $266 | $323 | $359 | $391 | $428 | $460 | $497 |
| State Farm | $400 | $410 | $436 | $446 | $461 | $471 | $485 | $495 |
| Farmers | $359 | $379 | $448 | $468 | $508 | $528 | $565 | $585 |
| New London County Insurance | $404 | $426 | $484 | $506 | $564 | $586 | $642 | $664 |
| Amica | $432 | $448 | $516 | $532 | $600 | $616 | $685 | $701 |
| Nationwide | $530 | $530 | $549 | $550 | $571 | $571 | $595 | $596 |
| Allstate | $463 | $482 | $608 | $628 | $753 | $773 | $899 | $918 |
| Providence Mutual | $580 | $618 | $702 | $739 | $799 | $836 | $899 | $936 |
| AIG | $1,128 | $1,128 | $1,209 | $1,209 | $1,279 | $1,279 | $1,390 | $1,390 |
Condo insurance rates by company in Rhode Island
The cheapest option is Heritage Insurance Holdings, followed by State Farm and Farmers as the second and third most affordable choices. However, condo insurance rates in Rhode Island vary by company, so it's a good idea to shop around and compare quotes.
The table below shows condo insurance rates from major companies in Rhode Island.
| Company | Average annual premium | Average monthly premium |
|---|---|---|
| Heritage Insurance Holdings | $359 | $30 |
| State Farm | $446 | $37 |
| Farmers | $468 | $39 |
| New London County Insurance | $506 | $42 |
| Amica | $532 | $44 |
| Nationwide | $550 | $46 |
| Allstate | $628 | $52 |
| Providence Mutual | $739 | $62 |
| AIG | $1,209 | $101 |
Compare condo insurance rates by city in Rhode Island
Condo insurance rates in Rhode Island vary by city, with factors such as weather and crime rates influencing pricing. To find the most affordable and reliable condo insurance in your city, take these factors into account and compare quotes from multiple insurance companies.
City Annual insurance premium
Methodology
Insurance.com compared condo insurance rates provided by Quadrant Information Services across all 50 states and Washington, D.C.
Average condo insurance rates are based on:
- $60,000 in personal property coverage
- $300,000 in liability coverage
- $1,000 deductible
- Good credit
Rates were also fielded at varying personal property and liability coverage levels for comparison.
FAQ
Is condo insurance required in Rhode Island?
No, condo insurance is not require by law in Rhode Island, but your mortgage company will require it.
What does condo insurance typically cover in Rhode Island?
Condo insurance covers your personal property, the interior of your unit, loss of use and personal liability.
How can I lower my condo insurance premium in Rhode Island?
To lower your rates, shop around, ask about discounts and bundle your condo and auto insurance.
