Real Estate Investor Insurance in Rhode Island
Complete guide to insurance requirements, costs, and strategies for real estate investors in Rhode Island. Understand builders risk, landlord insurance, and flood coverage.
Avg Builders Risk
$1,700-$3,400
Avg Landlord Insurance
$1,900-$3,300
Avg Flood Insurance
$1,000-$2,200
Rhode Island Insurance Overview
Rhode Island is a small but mature market with strong Boston proximity. Newport provides premium properties. Coastal areas face hurricane risk. Limited inventory.
State Insurance Department
Contact the Rhode Island Department of Insurance for regulatory questions and complaint resolution.
Visit Rhode Island Insurance Department →Insurance Costs in Rhode Island
Builders Risk
$1,700-$3,400
Per project, varies by size and complexity
Landlord Insurance
$1,900-$3,300
Per year for rental property
Flood Insurance
$1,000-$2,200
Per year (varies by zone)
Insurance costs in Rhode Island reflect state-specific risks, market conditions, and regulatory environment. Multiple quotes are essential for finding the best rates.
Natural Disaster Risks in Rhode Island
Rhode Island experiences several natural hazards that impact insurance requirements and costs. Understanding these risks helps you select appropriate coverage.
Hurricanes
This is a significant risk in Rhode Island. Ensure your insurance covers damage from hurricanes.
Nor'easters
This is a significant risk in Rhode Island. Ensure your insurance covers damage from nor'easters.
Coastal Flooding
This is a significant risk in Rhode Island. Ensure your insurance covers damage from coastal flooding.
Top Investment Markets in Rhode Island
These are the primary real estate investment markets in Rhode Island with the strongest rental demand and appreciation potential.
Providence
Population: 1,636,000
Median Home Price: $380,000
Median Rent: $1,450/month
Warwick
Population: 82,000
Median Home Price: $380,000
Median Rent: $1,450/month
Cranston
Population: 81,000
Median Home Price: $380,000
Median Rent: $1,450/month
Pawtucket
Population: 71,000
Median Home Price: $360,000
Median Rent: $1,400/month
Newport
Population: 26,000
Median Home Price: $520,000
Median Rent: $1,700/month
State-Specific Regulations
Rhode Island has specific landlord-tenant laws and regulations that affect property management and insurance needs.
Rhode Island Residential Tenancies Law applies
Coastal properties subject to hurricane insurance
Security deposit held in trust
Fair Housing strict enforcement