Insurance Costs in Providence, RI
Auto insurance in Providence averages $1,938 per year for full coverage, which is higher than the national average. Here is a detailed breakdown of what residents pay.
Updated July 2026Auto Insurance in Providence, RI: What You Need to Know
Providence residents pay an average of $1,938 per year for full coverage auto insurance, which is 15.0% above the Rhode Island state average and 15.8% above the national average.
With a population of 190,934, Providence is a mid-size city in Rhode Island. Higher population density, more traffic congestion, and increased accident risk all contribute to above-average insurance rates.
Coverage Level Comparison
| Coverage Type | Annual Cost | Monthly Cost |
|---|---|---|
| Full Coverage (100/300/100) | $1,938 | $162 |
| Standard Coverage (50/100/50) | $1,589 | $132 |
| State Minimum (25/50/25) | $814 | $68 |
Homeowners Insurance in Providence, RI
The average cost of homeowners insurance in Providence is $1,856 per year ($155/month), which is near the national average.
Home insurance costs are influenced by local factors including weather risks (hail, wind, flooding), property values, local building costs, and proximity to fire stations.
Renters Insurance in Providence, RI
Renters insurance in Providence averages $216 per year ($18/month). Renters insurance is affordable and protects your personal belongings, provides liability coverage, and may cover temporary living expenses if your rental becomes uninhabitable.
Compare with Other Rhode Island Cities
How to Save on Insurance in Providence
- Shop around. Get quotes from at least 3-5 different insurers. Rates in Providence can vary by $500 or more between companies for the same coverage.
- Bundle auto and home/renters. Many companies offer 10-25% off when you carry multiple policies.
- Increase your deductible. Raising your deductible from $500 to $1,000 can cut your premium by 15-30%.
- Ask about local discounts. Some insurers offer discounts for anti-theft devices, safe driving courses, or parking in a garage.
- Review coverage annually. Your needs change over time. Make sure you are not paying for coverage you do not need.
Frequently Asked Questions
How much is car insurance in Providence, RI?
The average cost of car insurance in Providence, RI is $1,938 per year for full coverage, or about $162 per month. Minimum coverage costs around $814 per year.
Is car insurance expensive in Providence?
Yes, car insurance in Providence is above both the state and national averages.
How much is home insurance in Providence?
Homeowners insurance in Providence costs an average of $1,856 per year. Your actual cost depends on your home's value, age, construction type, and specific location.