Average renters insurance cost in Providence, Rhode Island

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Renters insurance in Providence, Rhode Island averages $571 annually – $11 more than the state average of $560 per year.

A standard renters insurance policy covers your personal belongings against fire, smoke, theft, and vandalism. It also provides liability protection if you’re held responsible for injuring someone or damaging their property.

Factors like your ZIP code, deductible, coverage limits, insurer, and eligible discounts all play a role in determining your final rate.

How to get the best deal for renters insurance in Providence

Get quotes from at least three insurers before committing – rates can vary dramatically for the same coverage, and the difference can add up to hundreds per year.
Ask about bundling discounts if you carry auto or other insurance – placing multiple policies with one provider usually brings your rate down.
Try increasing your deductible to $1,000 if you’re currently at $500 – the annual savings can reach $32.
Check whether your building’s safety features – deadbolts, smoke detectors, or a security system – qualify you for a discount.
Pay your premium in full for the year rather than splitting it into monthly payments – most insurers reduce the rate for upfront payment.

What is the average cost of renters insurance per month in Providence?

Monthly renters insurance costs in Providence depend on your provider and how much coverage you carry. For a policy with $20,000 in personal property coverage and a $1,000 deductible, the average monthly rate is $41.

Upgrading to $40,000 in personal property coverage adds approximately $7 more per month, putting the average premium at $48. That figure covers $40,000 in personal property protection, $100,000 in liability coverage, and a $1,000 deductible – $1 more than the state monthly average of $47.

Key takeaways

A renters policy covers your personal belongings and provides liability protection inside your rental
Renters insurance in Providence averages $571 per year
Among local insurers, Amica offers the lowest rates in the city
What you pay hinges on your coverage limits, ZIP code, insurer, and any discounts you’re eligible for
If your home is filled with electronics, jewelry, or quality furniture, higher coverage limits are worth the extra cost

How much is renters insurance in Providence? Rates by deductible

For a policy with $20,000 in personal property coverage and a $500 deductible, renters in Providence pay an average of $520 per year.

Your deductible is the share of a claim you cover before your insurer pays the rest. It’s also one of the most direct levers for controlling your premium – raising it from $500 to $1,000 can knock $32 off your annual cost.

The table below shows how premiums change across different personal property coverage amounts and deductible levels.

Deductible	Rates with $20,000 personal property	$40,000 personal property	$60,000 personal property
500	$520	$609	$690
1000	$488	$571	$644

Who offers affordable renters insurance in Providence?

Amica tops the list for affordability in Providence, coming in at $143 per year or $12 monthly. Nationwide holds the second spot, with State Farm rounding out the top three.

The table below compares average annual and monthly premiums from the most affordable renters insurance providers in Providence.

Renter insurance provider	Average annual rate	Average per month rate
Amica	$143	$12
Nationwide	$191	$16
State Farm	$197	$16
Allstate	$295	$25
New London County Insurance	$319	$27
Farmers	$518	$43
PURE	$1,378	$115
AIG	$1,522	$127

How to lower the cost of renters insurance

You can lower the cost of renters insurance by shopping around, bundling policies, and going for a higher deductible.

Bundle policies. Combining your renters, auto, or other coverage under one insurer typically earns you a discount across your policies.
Increase your deductible. Opting for a higher deductible will reduce your premium immediately – provided you’re confident you can cover that amount if a claim arises.
Choose the right coverage amount. Look over your policy every year. If your possessions are modest in value, there’s a good chance you’re paying for more personal property coverage than you actually need.
Avoid filing small claims. Submitting several small claims over time can accelerate rate increases more than a single larger claim. Where the cost is manageable, paying directly is often the smarter move.
Improve your credit score. Insurers in most states incorporate your credit score into their pricing. Improving it is one of the more impactful steps you can take to reduce what you pay.
Compare quotes every renewal. Your rate today may not be the best rate available. A few minutes spent comparing quotes at each renewal can add up to significant annual savings.

Renters insurance replaces what you own if it’s stolen or damaged, and it covers you financially when you’re liable for someone else’s loss. Getting quotes from multiple insurers and making use of available discounts are the most straightforward ways to secure a fair rate.

Frequently asked questions

Is renters insurance required in Providence?

It isn’t required by state law, though some landlords make it a condition of renting. Either way, a policy provides valuable protection for your belongings and covers you if a visitor is injured on your property.

What does renters insurance cover?

Renters insurance covers personal belongings lost or damaged through covered events, liability if you’re held responsible for injury or property damage, and temporary housing costs if your rental becomes unlivable after a covered incident.

How much renters insurance do I need?

A good starting point is enough to replace all of your possessions. For anyone with higher-value items – think electronics, jewelry, or collectibles – it’s worth looking at higher limits or adding scheduled item coverage.

Who has the cheapest renters insurance in Providence?

Amica offers the most affordable rates in Providence, averaging $12 per month.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered renters insurance rate data for Providence based on $40,000 in personal property coverage, $300,000 in liability coverage, and a $1,000 deductible. Rates reflect a good credit tier profile.

How much is renters insurance in other cities?

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Alisha Ambre

Alisha Ambre holds a Bachelor of Arts with honours in English Literature and Media Studies. She focuses on crafting clear, engaging content that makes complex information feel practical and approachable for everyday readers. When she’s not writing, she’s likely on the volleyball court or immersed in a good video game.