Best and Cheapest Renters Insurance in Rhode Island for 2024

Renters insurance is a type of coverage that’s helpful, yet often misunderstood. While your landlord likely has insurance to cover the building you’re renting, their policy won’t cover your personal belongings. But obtaining your own policy as a renter would! Additionally, renters insurance typically includes liability coverage.

So if you want to ensure you’re properly covered while renting, it’s important to find one of the best Rhode Island renters insurance companies. But where do you start? In the table above, you can sort through all the renters insurance companies ranked on Clearsurance. The rating next to each company — the insurer’s Clearsurance score — is based exclusively on the thousands of ratings provided by customers.

Note: Only those companies with at least 25 renters insurance reviews are eligible to appear in the best Rhode Island renters insurance rankings.

There is a lot of literature out there for a first time renter, or even a renter who wants to better understand their renters insurance policy. You'll not only need to figure out what sort of damage and incidents you want to guard your personal belongings against, but you'll also need to understand what comes included in the policy you choose. Much like auto insurance, there are many different options.

Interested in learning more about one or more of the companies listed? You can visit the company’s profile page to find more information about the company and read reviews to learn from the experiences of other policyholders.

You can also use our free, online tool in order to compare renters coverage quotes from different companies.

On this page:

• Rhode Island renters insurance rates
• Average cost of renting in Providence
• Renters insurance for Rhode Island college students
• Rhode Island property crime statistics

Who offers the best Rhode Island renters insurance rates?

Out of the most popular companies in Rhode Island, Amica offers the cheapest Rhode Island renters insurance rates, on average.

While the cost of renters insurance varies based on factors specific to you and your apartment, the company you choose also affects the cost. Some companies may offer renters insurance in Rhode Island for a cheaper rate than others. On average, Rhode Island renters insurance costs about $188 per year. In the table below, you can see average annual Rhode Island renters insurance rates from some of the largest companies in the state.

These average renters insurance rates are based on a policy with $30,000 in personal property coverage (with a $500 deductible), $100,000 in personal liability and $1,000 in medical payments to others. The rates displayed should only be used for comparative purposes as individual rates in Rhode Island will differ. Rate data is provided by Quadrant Information Services.

How much does rent cost in Providence?

In Providence, Rhode Island, rent costs an average of $1,786 per month. The cost of rent in Providence can vary based on factors including your apartment's location and size. You'll also want to see if your ZIP code affects what you pay, because that can be the case in some areas.

Rhode Island may be the smallest state in the United States by area, but Providence is still a major city with a population of over 180,000. Although the average cost of rent in Providence is $1,786 per month, the area within the city may affect the cost of rent. For example, the average cost of rent in the neighborhood of Blackstone is $2,339 per month while the average cost of rent in the Hartford neighborhood is $1,463 per month.

The size of the apartment will also affect the cost of rent in Providence. On average, studio apartments in the city cost $1,524 per month, one-bedroom apartments cost $1,585 per month and three-bedroom apartments cost $3,446 per month. If you’re renting an apartment in Providence, you may want to consider purchasing a renters insurance policy to protect your personal items from perils that can happen in an apartment like theft or vandalism.

Are college students able to obtain a renters policy in Rhode Island?

If you’re attended a college or university in Rhode Island, chances are you’ll live in a dorm located on your college’s campus or rent an apartment off campus at some point while getting your degree. There are a few things for college students who are looking at rental properties in Rhode Island to consider in order to protect their personal belongings.

Typically, college students who live in dorms located on the college campus are covered by their parents homeowners insurance policy. That’s usually only the case for students who live on campus, though. Rhode Island college students who rent apartments off campus should consider a renters insurance policy because their items won’t be covered under their parents’ policy, and without a renters insurance policy, they won’t have any protection. This could be unfortunate if a flood causes water damage to your furniture, or medical expenses are accrued because someone was injured in your rented space.

College students will most likely have roommates in the apartment they rent. It’s not advised that students share renters insurance policies with roommates. Rather, each student should have their own renters insurance policy to protect their own belongings.

What are Rhode Island's property crime statistics?

Theft and vandalism or malicious mischief are among the 16 perils a standard renters insurance policy protects you from. So, how does crime in Rhode Island compare to other states around the country? The FBI published the following statistics on crime in Rhode Island for 2016:

• Property crime - 20,058
• Burglary - 3,788
• Larceny theft - 14,674

When compared to the national average rate per 100,000 inhabitants, all three crime statistics for Rhode Island rank below the national average. It would still be a good idea to put some security measures in place. Tenants are often supplied with things such as smoke detectors, and sometimes simple burglar alarms. If such things aren't included, the renter should consider installing security devices of their own.

How can a renter save money in Rhode Island?

While coverage for a renter may be more affordable than other types of coverage, no one wants to pay more than they have to. So what are the different ways that you can lower your average cost and have some extra spending money?

Here are the top 5 ways to save on your renters insurance:

• Raise your deductible
• Ask about potential discounts
• Bundle your policies
• Determine the value of your personal property
• Pay in full by check

Being a renter means needing access to resources such as a website or app, for informational purposes. By talking to an agent or going online for a quote, you'll be able to find yourself valuable coverage, which will then provide peace of mind knowing that as a renter, your belongings are safe.

How does Clearsurance rate and rank the best renters insurance companies in Rhode Island?

Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:

• Price
• Customer Service
• Claim service
• Likelihood to renew

The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.

The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.

Is there more information that a renter can obtain?

As we mentioned above, there’s common misconceptions regarding what is and isn’t covered by a renters insurance policy. Before you purchase a policy from any company in Rhode Island, it’s important to understand what your policy covers. For example, did you know that many renters insurance policies include liability protection in the event a non-resident is injured on the property? Liability coverage can be incredibly useful to have. Plus, if your apartment becomes uninhabitable from an incident, some policies may cover your expenses as you find temporary housing in Rhode Island.

We want to make sure you’re equipped with a proper knowledge of renters insurance, so check out our renters insurance guide. Looking for more educational information about renters insurance? Check out our renters insurance blog for more information and topics related to renters insurance.

We also have a useful, free online tool that will let you compare quotes from different companies.