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Rhode Island may be small, but if you own rental property here, your risk isn’t. Between hurricanes, flooding, and liability claims, landlord insurance in Rhode Island isn’t just smart—it’s necessary.
Whether you’ve got a beachside rental in Newport or a duplex in Providence, this guide breaks down exactly what landlord insurance in RI covers, what it costs, and what to watch out for.
Why Landlord Insurance in Rhode Island Matters
Homeowners insurance doesn’t protect rental property the way landlord insurance does. You need a policy that covers the specific risks landlords face—not what homeowners deal with.
Rhode Island’s coastal location increases risk for storm surge, wind damage, and flooding. Don’t assume a basic policy will step in when your rental is damaged during hurricane season.
What Landlord Insurance in RI Typically Covers
Property Damage
Covers physical damage to your rental caused by fire, storms, wind, vandalism, or theft. This is critical for properties along the coast and in flood-prone areas like Cranston or Westerly.
Liability Protection
If someone gets hurt on your property and sues, this helps cover legal fees, medical costs, and court settlements.
Loss of Rental Income
If your property becomes uninhabitable due to a covered event, this helps you recover lost rental income while you make repairs.
Optional Add-Ons
- Flood insurance (especially important for coastal properties)
- Short-term rental endorsements — compare short vs long-term
- Equipment breakdown coverage (HVAC, plumbing, etc.)
- Umbrella liability for extra protection
What Does It Cost?
Expect to pay between $950 and $1,800 per year for landlord insurance in Rhode Island. Pricing depends on:
- Property location and flood risk
- Age and condition of the property
- Rental type (long-term vs. Airbnb)
- Coverage levels and deductible amounts
You can usually lower your premium with bundling, regular maintenance, or increasing your deductible.
Best Provider for Rhode Island Landlords
We recommend Steadily. It’s built specifically for landlords, and their team knows how to handle the unique risks that come with owning property in a coastal state.
Why landlords in Rhode Island like Steadily:
- Fast online quotes with clear coverage terms
- Support for properties owned by LLCs
- Excellent claims handling and customer service
- Affordable pricing with flexible options
Common Claims in Rhode Island
Wind and Storm Damage
Hurricanes and strong coastal storms cause major roof and siding damage every year.
Flooding
Especially in South County, flood risks are real. Most standard landlord policies don’t include flood insurance—you need to add it.
Liability Lawsuits
Slippery walkways, uneven decks, or tenant injury claims can lead to lawsuits that cost you thousands without liability protection.
How to Lower Your Premium
- Bundle coverage across multiple properties
- Keep your rental well-maintained to avoid claims
- Install smoke alarms, flood sensors, and security systems
- Screen tenants carefully and require renters insurance
- Raise your deductible to reduce your monthly payment
FAQ: Landlord Insurance in RI
Do I need landlord insurance for a single-family home?
Yes. Any rental property—regardless of size—requires different coverage than a primary residence.
Is flood insurance included?
No. You’ll need to buy flood insurance separately if your property is near water or in a flood zone.
Does it cover my tenant’s belongings?
No. Tenants should carry their own renters insurance to protect their personal items.
Final Thoughts
Rhode Island’s weather and coastal geography make landlord insurance a must. If you’re renting out property in Providence, Warwick, Newport, or anywhere along the coast, protect yourself from the most common—and most expensive—risks.
Don’t assume you’re covered. Avoid common mistakes and choose coverage that actually protects your investment.
Our advise is based on experience in the mortgage industry and we are dedicated to helping you achieve your goal of owning a home. We may receive compensation from partner banks when you view mortgage rates listed on our website.
