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Welcome to Coventry, Rhode Island
Located in the northwestern portion of Kent County, about 19 miles southwest of Providence, Coventry is the largest township in the state. At roughly four miles wide and 14 miles in length from east to west, the city is 62.2 square miles. The town has a sparse feeling but with suburban amenities and well-performing schools.
With over 35,000 residents, Coventry is home to young to middle age professionals. The median age in the area is 42.7 years. putting it on par with the median age of residents in the state. Coventry residents also have a median income of $79,873, which aligns with the state's median.
The median home value in the city is $339,982, and most residents own instead of renting their property. Therefore, there is a strong likelihood that most Coventry residents have a mortgage, which likely means a mandatory need for home insurance. Even if you aren't required to purchase home insurance, it is an excellent idea to guard against potential future hardships.
How Coventry Home Insurance Protects You
Home insurance protects against perils like fire, wind damage, theft, and vandalism. Protection refers to financial coverage for resulting damages, meaning homeowners don't pay out-of-pocket for certain claims. An insurance policy can cover repair costs because homeowners pay a monthly or annual premium.
Insurance premiums are not one-size-fits-all. The rates you must pay depend on several factors, including home location and value, property owner credit history and claims history, and the age of the house. To find policies with the best rates and coverage options, use VIU by HUb, a tool that lets you compare several insurers simultaneously.
Specific Risks in Coventry, Rhode Island
As you review data influencing insurance rates in Coventry, you must review climate or weather information and crime data. Not only does each issue affect insurance premiums, but they can also influence any additional coverage you may want to purchase. For example, the city has a moderate risk of flooding, with 19% of properties facing an increased risk over the next three decades. Homeowners may choose to add flood coverage to reduce financial consequences later.
The primary environmental concern in the city is wind damage. Thankfully, most home insurance policies cover this risk.
Regarding crime rates, Coventry has an overall rate of nine per 1,000 residents. which is average in America. The city has a crime rate that is roughly 33% lower than that of other cities throughout Rhode Island. Property owners can also rest easy in the city because its property crime rate is only eight per 1,000 residents, which is average for all American cities and towns.
Cost of Coventry Home Insurance
On average, Rhode Island home insurance rates are lower than the rest of the country. In Coventry, a homeowner can expect to pay about $1,270 annually or $106 monthly, which is close to the state average. Obviously, the estimate is not definite. Too many factors can lead to higher or lower premiums to give a definitive answer regarding individual costs. Still, with a good credit profile and clean claims history, you can expect to pay less than other states.
You can ensure you receive the best rates by comparing different policies and assessing specific coverages and rates. The research is difficult when you have to investigate each insurer independently, but when you use VIU by HUB, you can compare multiple insurers simultaneously, making the process much easier.
This information is intended for general informational purposes only and is not intended to constitute legal advice.
Sources
Historic and Architectural Resources of Coventry, Rhode Island: A Preliminary Report