How much is Flood Insurance in Rhode Island?
The average cost per policy in Rhode Island through the NFIP is $1,310.63. Depending on where you live, this average could vary substantially! If you're interested in a quote for a private flood insurance policy to compare costs to the NFIP, we offer both! Quote online to compare costs and coverages side-by-side with our quick online quote tool.
Average Costs through the NFIP
City | Average Cost per Policy |
|---|---|
Providence | $1,390.62 |
Warwick | $1,345.01 |
Cranston | $1,768.21 |
Pawtucket | $1,087.19 |
East Providence | $1,506.12 |
Woonsocket | $1,189.04 |
Cumberland | $1,909.83 |
Coventry | $1,447.78 |
North Providence | $1,706.53 |
South Kingston | $1,460.80 |
Prices as of 11/30/24.
Our Private Flood Insurance Prices are Often Lower!
Our private flood insurance averages are often much lower than those shown above! Get a quote online and find out how much we can save you.
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Not sure if private flood is right for you? We quote both NFIP and private flood insurance online! Instantly compare prices and coverage side-by-side. It’s fast, easy, and 100% online.
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NFIP vs. Private Flood Insurance
Does my homeowners insurance cover flooding?
Standard homeowners insurance generally excludes flood coverage. Obtaining a flood insurance policy is typically left up to the homeowner. If you're looking to get a policy, we offer a 100% online process. You can get a quote started here!
Do I need flood insurance in RI?
Flooding is a serious concern in Rhode Island—even for homes far from the coast or rivers. The state regularly experiences flash floods and heavy rainfall, especially during spring and summer. In September 2023, slow-moving storms caused flash flooding across multiple towns, including Cranston and Providence, leading to road closures and emergency rescues. With climate change intensifying rainfall patterns and increasing the frequency of extreme weather events, flood risks are on the rise across the Ocean State.
The first step in assessing your flood risk is to find out if you're in, or near, a flood zone. Enter your address on our FEMA Flood Zone Map lookup tool.​
How to Get Flood Insurance Without a Flood Elevation Certificate.
Quality flood insurance is available without the added expense and trouble of getting an elevation certificate. FloodPrice can compare the rates for both private flood insurance and the NFIP to make sure you are getting the right coverage for the best price. Check out our quote page now to find out what coverage we can offer.
Flood Insurance Pricing Changes in Rhode Island
The NFIP recently adjusted its pricing system called Risk Rating 2.0. Their view of risk assessment now aligns more closely with practices that private carriers implemented years earlier.
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As a result, most policyholders in Rhode Island have seen changes to their premiums. According to FEMA, approximately 66% of policyholders nationwide were projected to see price increases with the updated pricing methodology.
Why did NFIP Implement Risk Rating 2.0?
FEMA moved away from antiquated pricing based on flood zones and elevation certificates, and toward assessing each individual property. These adjustments are intended to more accurately reflect each property's unique flood risk. The following are considered by the NFIP when calculating your premium:
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Distance to water (river, coast, etc.)
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Cost to rebuild
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Flood frequency and types (coastal, riverine, and heavy rain)
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Ground elevation and foundation type
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Historical claims and mitigation efforts
Compare NFIP with Private Flood Insurance Premiums Online
At FloodPrice, you can compare NFIP and Private Flood Insurance quotes side-by-side with our quick online quote tool. This makes it easier to find a policy that fits your budget and your needs. While private policies often offer more flexibility and may be less expensive for some, the NFIP still offers robust coverage, especially in high-risk or FEMA-regulated zones.
