Home Insurance in Providence, Rhode Island
With a median home value of $362,200, Providence is close to the Providence County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The median home in Providence was built in 1939 or earlier. About 68% of homes were built before 1960, about 13 points above Providence County's 54%.
In Providence, the housing stock is 30% single-family homes and 25% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
71% of owner-occupied homes in Providence carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 41% of occupied homes in Providence are owner-occupied. The vacancy rate is 10%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Providence - 70% - are primarily heated with natural gas. Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
What's the biggest home insurance risk near Providence? FEMA's National Risk Index points to inland flooding (Relatively High) in Providence County and Providence County had 2,001 active NFIP flood policies as of September 2026. See the full Providence County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
The statewide average premium for a standard HO-3 homeowners policy in Rhode Island is $2,396 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $362,200 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 41% |
| Share of owner-occupied homes with a mortgage | 71% |
| Top county hazard | Inland Flooding (Relatively High) |
| Active NFIP policies in Providence County | 2,001 |
| Home insurance premium | $2,396 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)