Renters insurance in Rhode Island: Cost, best companies and how to save

What is the average cost of renters insurance in Rhode Island?

The average renters insurance cost in Rhode Island is $473 per year. Rates vary based on factors such as location, coverage amount, deductible, and claims history.

"The number one thing that's most important is to get good liability. A renter's policy will default to $100,000 liability," Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. "It costs next to nothing to go from $100,000 to $500,000. I want to say it's probably 10 bucks a year. It's really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that's, at its core, what insurance is all about: the worst-case scenario."

Average annual premium	$473
Average monthly premium	$39

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Best renters insurance company in Rhode Island: State Farm

State Farm ranks as the best renters insurance company in Rhode Island, earning a top score among the carriers we surveyed. Its average rate is $187 per year.

Amica Mutual and Allstate are also among the top insurance companies for renters insurance in Rhode Island.

Renters insurance rates vary significantly among providers, so you should compare options before choosing. You should also select a company with a good reputation to ensure it will be there if you have a claim.

To help you find the best renters insurance in Rhode Island, we evaluated average rates, NAIC complaints ratio, and AM Best financial ratings. We calculated the total Insurance.com score out of five using these factors.

Here are the best renters insurance companies in Rhode Island.

Company	Average annual premium	AM Best	NAIC	Insurance.com rating
State Farm	$187	A++	0.95	5
Amica Mutual	$185	A+	0.23	4.96
Allstate	$239	A+	0.9	4.87
New London County Insurance	$310	A	0.2	4.76
Nationwide	$205	A+	0.87	4.62
AIG	$806	A	0.09	4.25
Pure Companies Grp	$1,378	A++	0.08	3.81

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Cheapest renters insurance in Rhode Island

Amica Mutual is the cheapest renters insurance company in Rhode Island, with an average annual premium of $185, based on our analysis.

Since renters insurance rates vary significantly from one provider to another, comparing quotes is the best way to find affordable coverage that fits your needs.

Below is the list of the cheapest renters insurance companies in Rhode Island and their average annual premiums.

Company name	Average annual premium
Amica Mutual	$185
State Farm	$187
Nationwide	$205
Allstate	$239
New London County Insurance	$310
AIG	$806
Pure Companies Grp	$1,378

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Rhode Island renters insurance: The least and most expensive ZIP codes

Your location in Rhode Island directly impacts the cost of renters insurance. The most expensive ZIP code in Rhode Island is 2907, with an average annual premium of $488. This amount is $15 more than higher than the state average.

In contrast, the least expensive ZIP code for renters insurance is 2840, offering coverage at $461 a year.

The table below shows the most and least expensive ZIP codes in Rhode Island for renters insurance.

Best home insurance companies in Texas

Most expensive ZIP code
Least expensive ZIP code

ZIP code	Average annual rate
2907	$488
2915	$485
2903	$480
2914	$479
2908	$473
2891	$471
2911	$468
2852	$464
2885	$462
2842	$461

ZIP code	Average annual rate
2840	$461
2841	$462
2818	$463
2814	$468
2815	$469
2874	$472
2825	$476
2912	$480
2915	$485
2918	$487

Renters insurance cost in Rhode Island by city

In Rhode Island, renters insurance rates vary across cities due to factors such as weather risks, crime rates, and other factors. To get the best deal in your city, Compare quotes from several insurers before selecting a policy, so they weigh each factor differently.

City	Annual insurance premium
Central Falls	$434
Coventry	$433
Cranston	$433
Cumberland	$426
East Providence	$436
Newport	$436
Pawtucket	$431
Providence	$447
Warwick	$429
Woonsocket	$425

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How to save on renters insurance in Rhode Island

There are several easy ways to lower the cost of renters insurance in Rhode Island without losing necessary coverage:

Bundle your policies. Many insurance companies offer a discount if you buy renters and auto insurance together.
Increase your deductible. Choosing a higher deductible will lower your monthly or yearly premium; just ensure you can afford it.
Ask about discounts. Most providers offer savings for things like smoke alarms, security systems, or being claims-free.
Compare quotes. Prices can vary widely between companies, so getting quotes from multiple insurers can help you find the best deal.
Pay annually. Some insurers offer a small discount if you pay once a year instead of monthly.

Methodology

Insurance.com compared renters insurance rates provided by Quadrant Information Services for $40,000 personal property coverage with a $1,000 deductible and $100,000 liability coverage for all available ZIP codes based on a renter with good credit. To rank the best insurance companies, we gathered AM Best financial stability ratings, where an A++ is the best possible score, and National Association of Insurance Commissioners (NAIC) complaint ratios, which compare the number of complaints a company receives to the anticipated complaint volume based on market share. These factors were used along with rates to find the best companies overall.

FAQ: Rhode Island renters insurance

Do I need renters insurance in Rhode Island?

Renters insurance isn't required by law, but your landlord may require you to purchase a policy as part of your lease agreement.

How much renters insurance do I need in Rhode Island?

You should make sure your personal property coverage is sufficient to replace all of your belongings at replacement cost; there is no minimum requirement.