Real Estate Investor Insurance in Warwick
Insurance guide for Warwick, Rhode Island. Understand market conditions, insurance costs, and investment opportunities.
Market Snapshot
Population
0.1M
Median Home Price
$380K
Median Rent
$1450/mo
Est. Cash-on-Cash Return
25%
Warwick Market Overview
Warwick is a key investment market in Rhode Island with distinct characteristics that affect real estate investments and insurance needs.
🏠 Home Prices
$380,000
Median home price
📍 Rental Market
$1450
Per month median rent
📈 ROI Potential
25%
Estimated cash-on-cash return
Investment Characteristics
- •Market Position: Warwick is a significant investment market in Rhode Island with diverse opportunities.
- •Price Range: Properties vary from starter investments around $$266,000 to premium properties at $$570,000+.
- •Rental Market: Strong demand at $$1450/month supports cash flow investing.
- •Fix-and-Flip Potential: Typical renovation budgets of $$95,000 with 6-12 month timelines.
Insurance Considerations for Warwick
Builders Risk for Renovations
For fix-and-flip projects in Warwick with average home prices around $$380,000, expect builders risk costs of $1,700-$3,400.
With typical renovation costs of 20-30% of purchase price, a builders risk policy covering $$95,000 would protect your investment during the 3-9 month renovation period.
Landlord Insurance
Rental properties in Warwick typically need landlord insurance averaging $1,900-$3,300 annually.
With median rents of $$1450/month ($$17400/year), ensure loss-of-rent coverage is included to protect against vacancy and non-payment risks.
Flood Insurance
Flood insurance in Warwick averages $1,000-$2,200 annually depending on location.
Even properties outside mapped flood zones should consider coverage. Use the FEMA Flood Map Service to check your specific property's risk level.
Top Investment Neighborhoods in Warwick
Different neighborhoods in Warwick offer different investment opportunities and insurance considerations.
Established Neighborhoods
Proven markets with stable rental demand and strong property appreciation. Good for landlord investments.
Up-and-Coming Areas
Emerging neighborhoods with appreciation potential. Good for fix-and-flip and value-add opportunities.
Downtown/Core Areas
Urban centers with strong demand for rentals and short-term leasing. Higher insurance costs due to density.