Wood River Junction, RI Home Insurance Quotes!

For all Wood River Junction, RI homeowners, finding great coverage at a lower price is in high demand. Residents of Wood River Junction can visit our site online and conveniently shop and compare the best rates locally without leaving your home. At GetHomeInsuranceQuotes.com, we pride ourselves on customer service and making it easy for homeowners to compare up to 12 major home insurance carriers with ease. Thousands of other customers based out of Wood River Junction and the surrounding areas of WASHINGTON County have gained additional savings with our competitive quoting raters. The best benefits to our customers is our FREE online shopping experience and it allows us to earn your business by providing a clear quoting process so you know what types of home insurance carriers can provide the protection and coverage you need.

If you want to receive quick homeowners insurance quotes for your home in Wood River Junction, RI, then you can easily start our online quoting application by entering your zip code. The process only takes 1 minute to complete. Compare your home insurance quotes today or give us a call now at 855-976-2656!

Wood River Junction, RI Home Insurance Rates Review

One of the more common questions that come up when discussing rates with homeowners in Wood River Junction, RI is "What's the average premium for homeowners?" In other words, what does everyone else pay compared to your monthly or annual home insurance bill. The answer is easy, for homeowners living in Wood River Junction, you will find a range from $1,072 per year as the cheaper option on up to $1,622/yr. as the more expensive option. Homeowners sometimes due pay a less expensive rate only because the home is less of a risk to insure. For example, you will have a much more affordable home insurance premium if your home is smaller because the replacement cost value is less than a much larger home where the cost to replace is much more expensive. The national average for homeowners nationwide is $1311 per year. In order to gain an understanding of how your rate will be compiled, we have listed a few helpful resources to help you understand replacement cost value, home insurance credits and home features that help discount your premium.

Top 5 Helpful Saving Resources

FAQ: What is a Wood River Junction, RI Homeowners Insurance Policy?
FAQ: What does a replacement cost coverage and actual cash value mean for my home in Wood River Junction, RI?
This home insurance calculator will calculate your dwelling coverage for your home in Wood River Junction, RI so you know what type of home insurance coverage you need to cover your replacement cost.
Here are the top five homeowners insurance discounts that you may not be aware of in Rhode Island
Installing smoke detectors, a security system and getting the same home and auto policy with the same carrier is a good start but to really kick-start your home insurance savings you have to dig a bit deeper. Here are the top 3 home insurance credits available to homeowners.

Compare Homeowners Insurance Rates in Wood River Junction, RI!

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Average Rates Nearby Wood River Junction

Are you looking for homeowners insurance in a city near Wood River Junction? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!

Home Insurance Rates by Zipcode in Wood River Junction, RI

Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Wood River Junction.

02894,

Wood River Junction, RI Home Insurance Average Premiums

Local Wood River Junction, RI home insurance quotes comparison

$1072 /yr.

Shows Wood River Junction's lowest average rates with discounts applied.

For the city of Wood River Junction, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:	Annual Premium
1800 sq. ft. or below (discounts applied)	$1072 /yr.
Average Coverage:	$1322 /yr.
2600 sq. ft. or higher (all discounts applied)	$1622 /yr.

What is the average home insurance cost for a home in Wood River Junction, RI?

• The average homeowners insurance premium paid annually for a home in Wood River Junction is around $1322 per year.

What does it cost on average per month for home insurance in Wood River Junction, RI?

• Homeowners in Wood River Junction pay an average cost per month around $110.00 for insurance coverage.

Wood River Junction, RI Coastal Wind, Hail & Flood Information

Wood River Junction is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.

Flood Zone Notice: The beautiful coastal city of Wood River Junction is know for it's beautiful beaches and waterways. Because Washington County (FIPS: 44009) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Wood River Junction, RI.

Wood River Junction, RI - 2023 Housing Information

Month	Current Home Value (2023)	Last Year Home Value (2022)
January	$0	$0
February	$0	$0
March	$0	$0
April	$0	$0

Homeowners insurance will help cover the cost to repair or replace your Wood River Junction home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:

Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Wood River Junction
Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.

Get up to 12 competitive Wood River Junction, RI homeowners insurance rates all in one place!

Saving Money Tips on Wood River Junction Home Insurance

A great way to save money on Wood River Junction homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:

Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.

Are you shopping for the best rate near or wihin the Wood River Junction area? Check out what homeowners are paying on average for Rhode Island homeowners insurance.

Elevation Review for Coastal Wind or Flooding Risk

Elevation	Details	Homeowners Tips
91 ft.	This is the average home elevation in Wood River Junction, RI	» Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Wood River Junction, Rhode Island. A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home. Call Now for Flood Insurance Quotes: 888-620-1954! Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy. It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas.

Elevation

Details

Homeowners Tips

91 ft.

This is the average home elevation in Wood River Junction, RI

» Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Wood River Junction, Rhode Island.

A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home.

Call Now for Flood Insurance Quotes: 888-620-1954!

Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy.

It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas.

To get online quotes on your home and compare rates on home insurance premiums in Wood River Junction, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Washington County.

Rhode Island Homeowners Insurance News & Information

Homeowners Below a 580 Credit Score Pay 35% More for Home Insurance Posted on Monday 15th April, 2024
While the odds of a major disaster hitting a specific home is the same regardless of whether the owner has a great credit score or one that puts them in a subprime category, their credit score will impact their rate in many states. In most states, insurers are allowed to consider credit scores when setting […]
The Best Way to Check the Financial Strength of Home Insurance Companies Posted on Wednesday 3rd April, 2024
If you are switching insurance companies, you should always check the financial strength of any insurer you are seriously considering. While an affordable premium is always a plus, if your insurance company cannot afford to pay when you file a claim, the savings will certainly not be worth it. A.M. Best is a credit rating […]
Florida’s Broward Commissioner is Asking Congress to Lower Insurance Rates Posted on Monday 1st April, 2024
A bill in the U.S. House called the Natural Disaster Reinsurance Plan, hopes to lower insurance costs for policyholders in states that opt-in to the program which will scale back the requirements regarding the amount of reinsurance that insurance companies need to purchase. Currently, a Broward commissioner is asking Congress to pass legislation he claims […]
North Carolina Coastal Home Insurance Rates Posted on Friday 29th March, 2024
North Carolina is a fantastic place to live with plenty of cultural activities, beautiful beaches, world-class cities as well as great restaurants and shopping. The only disadvantage to living in North Carolina, particularly if your home is located in coastal area is the cost of homeowners insurance. The average premium for a standard homeowners insurance […]
How Do Renovations Impact Home Insurance? (2024 Guide) Posted on Friday 15th March, 2024
Making renovations to your home can have a major impact on your insurance coverages as your risk profile changes. Adding square footage, putting in a swimming pool, outbuilding or upgrading your electrical may change the value of your home which could leave your underinsured. Major upgrades such as adding square footage to your home or […]

Wood River Junction, RI Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in Wood River Junction so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.

What is the average replacement cost coverage in Wood River Junction, RI?

- The average square footage in Wood River Junction is around 980 Sq. Ft. which would cost you around $205,700 to replace the home if you base the home on the price to build per square foot of $210.

Minimum Replacement Cost Total: $205,700

Location: Wood River Junction, Rhode Island (Washington County)

Average Building Cost Per Square Foot in Wood River Junction: $210 (low end)

Average Square Footage in Wood River Junction: 980 Sq. Ft.

Home Improvement Status	Price per Sq. Ft.	Dwelling Coverage
None or Very Minor Improvements	$210	$205,700
Some Additional Upgrades	$263	$257,125
Major Home Updates or Advancements	$315	$308,550

Calculate Your Wood River Junction, RI Dwelling Coverage

The dwelling coverage is calculated by the average cost per square foot ($210) in Wood River Junction, Rhode Island times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $656,250 (Media price to build of $263 x 2500 sq. ft.) to cover the cost to rebuild your new home.

What is the difference between actual cash value and replacement cost value?

Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:

Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.

Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.