Average homeowners insurance cost in Providence, Rhode Island

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In Providence, homeowners pay an average annual rate of $1,952 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to our data. This is $552 less than the national average of $2,504 .

Homeowners insurance premiums can vary significantly from one property to another. In Providence, the cost of home insurance is influenced by several factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

State Farm is the cheapest homeowners insurance company in Providence with an average annual premium of $1,420 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in Providence. Keep reading to learn about the monthly cost of homeowners insurance in Providence, the cost for different dwelling coverage levels, and which companies provide the most affordable home insurance in Providence.

Key Takeaways

Homeowners insurance costs $1,952 per year in Providence.
At $1,420 per year, State Farm offers the cheapest homeowners insurance in Providence.
Your home insurance rates increase by $445 more annually if you increase your dwelling coverage from $200,000 to $300,000.

Average homeowners insurance cost per month

How much you pay for a homeowners insurance policy depends on the value of your home, your location, and the coverage options you select.

Homeowners in Providence pay an average of $163 per month. It’s just $1 more than the state average of $164 and $46 less than the national average for home insurance across the nation.

Average homeowners insurance cost for a $200,000 house

In Providence, homeowners pay an average of $1,507 annually for a $200,000 home. The annual cost of home insurance is influenced by factors such as the risk of natural disasters in your area.

Regions more susceptible to natural disasters, such as floods, hurricanes, or tornadoes, typically face higher rebuilding costs, leading to increased insurance premiums. Keep in mind that standard insurance policies might not cover damages caused by floods or hurricanes. If you live in a flood-prone area, you should purchase flood insurance.

Average homeowners insurance cost for a $300,000 house

As per rate analysis by Insure.com, homeowners residing in Providence typically pay an average of $1,952 annually to insure a home for coverage limits of $300,000 dwelling, $100,000 liability protection with a $1,000 deductible.

Your home insurance rates will be increased by $445 if you increase your dwelling coverage from $200,000 to $300,000. It is advisable to buy enough insurance to cover the entire cost of rebuilding your home. However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

Average homeowners insurance cost in Providence by company

Among the carriers we analyzed, State Farm is the cheapest homeowners insurance company in Providence. Its average annual rate for Providence homeowners is $1,420 , while AIG ranks second.

Before picking a homeowners insurance policy, it’s a good idea to do a little homework on the company. To make it easier, our experts reviewed all the top insurers in Providence and put together a list of the most affordable options. Below, you’ll find the average annual premiums for each provider in the area.

Home Insurance Company	Annual rate
State Farm	$1,420
AIG	$1,623
Pure Companies Grp	$1,724
Nationwide	$2,154
Allstate	$2,255
Andover Insurance	$2,331
Amica Mutual	$2,160

Bundling your home insurance with other policies, such as auto insurance, can result in substantial savings. Many insurers offer discounts to policyholders who combine multiple policies. It will help you lower your premiums and simplify policy management.

Natural disasters in Rhode Island that can impact your home insurance

Living in Rhode Island comes with the possibility of natural disasters that can cause serious damage to your home and belongings. From costly repairs to large insurance claims, the financial impact can be significant. That’s why it’s important to know which types of disasters are most common in your area before selecting a home insurance policy.

Understanding your local risks allows you to customize your coverage – whether that means adjusting your policy limits, choosing a higher deductible, or adding protection for hazards like floods or earthquakes. Planning ahead helps ensure you’re fully covered when it matters most.

Rhode Island is commonly affected by Coastal flooding, Heat wave, Hurricane, Ice storm and Riverine flooding.

How home insurance protects you against natural disasters

Home insurance protects your property and belongings from the financial impact of natural disasters. Home insurance can help pay for structural damage repairs, replace lost or damaged items, and provide funds for temporary housing if you can’t live in your home. This coverage provides financial relief, making it easier for homeowners to recover quickly from the effects of natural disasters.

While standard policies generally cover damage from windstorms, hail and lightning, additional coverage is required for disasters like floods, earthquakes and wildfires.

These types of damage are usually not covered by homeowners insurance, so homeowners need to buy separate flood or earthquake insurance to ensure complete protection.

Pro tip: Review your policy annually

There’s little time to prepare for a natural disaster, and it’s too late to make changes once a storm is on the radar. Make sure your homeowners insurance includes coverage for the types of disasters common in your area. Standard policies don’t always cover everything, like flood damage, so double-check exclusions and consider add-ons if you need them.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Providence for $300,000 dwelling coverage, $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.