Homeowners insurance in Providence, RI

How much is home insurance in Providence, RI?

The average cost of homeowners insurance in Providence varies depending on the coverage level you choose. Homeowners insurance costs $1,507 per year for dwelling coverage of $200,000 and $1,952 for $300,000 of dwelling coverage.

Below are the average annual and monthly Providence home insurance rates for different amounts of dwelling coverage.

Coverage level (Dwelling)	Average annual rate	Average monthly rate
$200,000	$1,507	$126
$300,000	$1,952	$163
$400,000	$2,387	$199
$600,000	$3,336	$278
$1,000,000	$5,244	$437

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Note: For the above rates, the deductible amount is $1,000 and liability protection is $100,000.

Home insurance rates in Providence by deductible

Home insurance rates in Providence vary based on the deductible you choose. If you pick a higher deductible, your monthly insurance premium will be lower, while a lower deductible, means lower premiums because the insurance company will pay more if you file a claim, and the odds of you filing a smaller claim are higher.

The table below lists the home insurance rates by deductible in Providence.

Deductible	Company	Average annual premium	Average monthly premium
$1,000	State Farm	$931	$78
$1,000	United Insurance Holdings	$1,281	$107
$1,000	AIG	$1,292	$108
$1,000	Heritage Insurance Holdings	$1,399	$117
$1,000	Allstate	$1,760	$147
$1,000	Pure Companies Grp	$1,797	$150
$1,000	Nationwide	$1,965	$164
$1,000	Amica Mutual	$2,286	$191
$1,000	Andover Insurance	$2,441	$203
$500	State Farm	$1,029	$86
$500	AIG	$1,301	$108
$500	United Insurance Holdings	$1,383	$115
$500	Heritage Insurance Holdings	$1,483	$124
$500	Pure Companies Grp	$1,836	$153
$500	Allstate	$1,915	$160
$500	Amica Mutual	$2,457	$205
$500	Andover Insurance	$2,851	$238
$2,000	State Farm	$834	$70
$2,000	United Insurance Holdings	$1,048	$87
$2,000	AIG	$1,231	$103
$2,000	Heritage Insurance Holdings	$1,295	$108
$2,000	Allstate	$1,377	$115
$2,000	Pure Companies Grp	$1,389	$116
$2,000	Nationwide	$1,700	$142
$2,000	Amica Mutual	$2,080	$173
$2,000	Andover Insurance	$2,304	$192
$2,500	State Farm	$834	$70
$2,500	United Insurance Holdings	$1,048	$87
$2,500	AIG	$1,231	$103
$2,500	Heritage Insurance Holdings	$1,295	$108
$2,500	Allstate	$1,322	$110
$2,500	Pure Companies Grp	$1,389	$116
$2,500	Nationwide	$1,700	$142
$2,500	Amica Mutual	$1,980	$165
$2,500	Andover Insurance	$2,304	$192
$3,000	State Farm	$772	$64
$3,000	United Insurance Holdings	$1,048	$87
$3,000	AIG	$1,227	$102
$3,000	Allstate	$1,277	$106
$3,000	Heritage Insurance Holdings	$1,295	$108
$3,000	Pure Companies Grp	$1,389	$116
$3,000	Nationwide	$1,700	$142
$3,000	Amica Mutual	$1,980	$165
$3,000	Andover Insurance	$2,304	$192
$4,000	United Insurance Holdings	$771	$64
$4,000	State Farm	$772	$64
$4,000	Pure Companies Grp	$1,096	$91
$4,000	Heritage Insurance Holdings	$1,139	$95
$4,000	AIG	$1,151	$96
$4,000	Allstate	$1,153	$96
$4,000	Nationwide	$1,406	$117
$4,000	Amica Mutual	$1,707	$142
$4,000	Andover Insurance	$2,085	$174
$5,000	State Farm	$700	$58
$5,000	United Insurance Holdings	$771	$64
$5,000	Pure Companies Grp	$1,096	$91
$5,000	Heritage Insurance Holdings	$1,139	$95
$5,000	AIG	$1,151	$96
$5,000	Allstate	$1,153	$96
$5,000	Nationwide	$1,406	$117
$5,000	Amica Mutual	$1,707	$142
$5,000	Andover Insurance	$2,085	$174

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Cheapest homeowners insurance companies in Providence

According to our analysis, State Farm is the most affordable home insurance provider in Providence, with an average yearly cost of $1,085.

Price is a big factor when choosing home insurance, and costs in Providence can vary a lot between companies. While saving money is important, it’s also a good idea to consider each company's reputation before making a decision.

The table below lists the cheapest home insurance companies in Providence.

Company	Average annual cost
State Farm	$1,085
Pure Companies Grp	$1,202
AIG	$1,345
Nationwide	$1,563
Amica Mutual	$1,573
Allstate	$1,862
Andover Insurance	$1,919

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Homeowners insurance cost in Providence by credit rating

Insurance companies in Providence can use credit information as one of the factors affecting the cost of your policy.

The average home insurance cost for homeowners with an excellent credit score is $1,306; that’s $1,346 less expensive than the average cost of the same insurance for policyholders with a poor credit score. The table below shows the average annual insurance cost for homeowners with different credit levels.

Credit score	Average annual cost
Excellent	$1,306
Fair	$1,772
Good	$1,507
Poor	$2,652

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How can you save on homeowners insurance in Providence?

If you’re looking to save on your homeowners insurance, the best way is comparing quotes from multiple insurers. Homeowners insurance companies offer a variety of different discounts to help you lower insurance costs. Here are a few common ones.

Home and auto bundle discount (multi-policy)

One of the easiest ways to get cheaper home insurance in Providence is the multi-policy discount, also known as bundling. If you purchase your home and auto insurance from the same company, you can save an average of $158 a year.

“It’s not always the better option, but more times than not it is because if you bundle usually, you get a 10-20% discount on both policies,” says Josiah Hatch, owner and CEO at Bender Hatch Insurance in Boston.

Loyalty discount

Staying with the same insurance company can earn you a loyalty discount, which could save you around $243 annually on your home insurance in Providence.

Security equipment discounts

Insurance companies offer discounts to homeowners for installing safety and security equipment, like a fire alarm or burglar alarm. If you install a fire alarm at your home, you can get a discount of $51 a year on average from your insurer.

New home discount

If you buy new construction, you can get a new home discount of $530 a year on average in Providence.

Methodology

Insurance.com compared homeowners insurance rates provided by Quadrant Information Services in 2023 for around 29,000 cities in all states and Washington D.C for $200,000 and $300,000 in dwelling coverage with $100,000 in liability and a $1,000 deductible. The rates were analyzed for almost 34,000 ZIP codes for those with good credit ratings. Content has been updated in 2024.