Providence Mutual
The Providence Mutual Fire Insurance Company is a 225-year-old mutual property and casualty insurer that underwrites approximately $100 million in annual premium across homeowners, small business, condo, renters, umbrella, and dwelling fire products, distributed exclusively through 331 independent agencies in seven Northeast US states.
- Company typePrivate
- Founded1800
- HeadquartersWarwick, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Providence Mutual does
The Providence Mutual Fire Insurance Company, founded in 1800 in Providence, Rhode Island and headquartered in Warwick, RI, is one of the oldest mutual property and casualty insurers in the United States. As a mutual, the company is owned by its policyholders rather than external shareholders, and writes approximately $100 million in annual premium across a focused six-product portfolio: homeowners, small business (BOP), condo owners, renters, umbrella, and dwelling fire insurance, augmented by tiered endorsement packages such as Anchor Advantage, The 1800, and Prestige Coverage Enhancement. Providence Mutual distributes exclusively through 331 independent insurance agencies across seven Northeast states (Maine, New Hampshire, Massachusetts, Rhode Island, Connecticut, lower New York, and New Jersey), maintaining direct underwriter-agent relationships that support customized placement of complex risks — a deliberate architectural choice that distinguishes it from direct-to-consumer carriers. The operating technology stack is conventional and customer-facing rather than data-driven: online claims filing, online bill pay with EFT, policyholder self-service portals, and agent login systems supported by a 24/7 claims hotline. The company maintains A- financial strength from Kroll Bond Rating Agency and A' Unsurpassed from Demotech, has been recognized as a Best Place to Work in Rhode Island for 17 consecutive years, and in November 2024 announced the exit of its auto insurance line (transferred to Plymouth Rock Assurance in CT and NH) to concentrate capital and underwriting talent on its core property and umbrella franchise.
Providence Mutual firmographics
Firmographics- Name
- Providence Mutual
- Legal name
- The Providence Mutual Fire Insurance Company
- Website
- https://providencemutual.com
- Company type
- Private
- Founded year
- 1800
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- The Providence Mutual Fire Insurance Company is a 225-year-old mutual property and casualty insurer that underwrites approximately $100 million in annual premium across homeowners, small business, condo, renters, umbrella, and dwelling fire products, distributed exclusively through 331 independent agencies in seven Northeast US states.
- Ownership category
- akta.pro rank
Providence Mutual industry classification
Industry- Product category
- Property and Casualty Insurance
- NAICS
- Direct Property and Casualty Insurance Carriers (524126)
- SIC
- Fire, Marine & Casualty Insurance (6331)
- akta.pro primary industry
- Mid-Market Commercial Package (Package Policies) (FSAJAFAB)
Keywords
Where Providence Mutual is headquartered
LocationHeadquarters
- HQ city
- Warwick
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Providence Mutual business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Property and Casualty Insurance Premiums: Providence Mutual generates revenue through insurance premiums from property and casualty policies. As a mutual insurance company owned by policyholders, the company underwrites nearly $100,000,000 in written premium in diverse classes including homeowners, dwelling fire, small commercial lines, and umbrella insurance.
- Insurance Policy Billing Services: The company offers multiple billing options including paid in full, mortgage billed, EFT, and direct bill with 4, 5, 9, or 10 payments. A $5.00 service fee applies to each installment for direct bill payments.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Renter's Insurance - Approximately 50 cents per day |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Providence Mutual product offering
Product offeringCore offering
Providence Mutual underwrites and sells property and casualty insurance products—homeowners, small business (BOP), condo owners, renters, umbrella, and dwelling fire—distributed exclusively through a network of independent insurance agents across seven Northeast U.S. states. As a mutual insurer, it is owned by its policyholders and underwrites nearly $100 million in annual written premium, with direct agent-underwriter relationships enabling customized coverage for complex risks.
Product overview
Providence Mutual is a property and casualty insurance company offering a portfolio of six core insurance products: Homeowner's Insurance, Small Business Insurance (BOP), Condo Owner's Insurance, Renter's Insurance, Umbrella Insurance, and Dwelling Fire Insurance. These core products are distributed exclusively through independent agents across the Northeast (Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island). The company also offers specialized add-on endorsements and coverage enhancements including Anchor Advantage and The 1800 (for homeowners), Windward Deluxe (for renters), Equipment Breakdown coverage, Service Line coverage, and various Coverage Enhancement Options (Standard, Preferred, Prestige) for business owners. The product architecture follows a core-product-plus-endorsements model, where policyholders can add endorsements to expand coverage limits and protection for specific needs like jewelry, water backup, computer coverage, and identity theft reimbursement.
Differentiator
Problem solved
Functional benefit
Products and services
- Homeowner's Insurance Insurance for owner-occupied primary residences covering the dwelling, personal property, personal liability, and additional living expenses when the home is uninhabitable, sold through independent agents in the Northeast.
- Small Business Insurance (Business Owner's Policy) Bundled Business Owner's Policy (BOP) for small businesses combining property coverage, general liability, business income protection, equipment breakdown, employment practices liability, and cyber coverage, sold through independent agents.
- Condo Owner's Insurance Coverage for the interior of condominium units, including walls, floors, additions, alterations, personal property, additional living expenses, loss assessment, and personal liability, complementing the condo association master policy.
- Renter's Insurance Affordable coverage (approximately 50 cents per day) protecting renters' personal belongings against theft, fire, smoke, wind, and water damage, with personal liability and additional living expense protection.
- Umbrella Insurance Excess liability coverage providing up to $1 million of additional protection for personal assets against medical payments, legal fees, settlement costs, and other exposures beyond primary policy limits.
- Dwelling Fire Insurance Landlord insurance / dwelling fire policy for owners of rental properties and secondary or seasonal homes, combining property and liability protection for homes, apartments, condos, and other buildings.
Companies that use Providence Mutual
Customer profileNamed customers1 record
Segments6 records
Ideal customer profiles4 records
Providence Mutual technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Providence Mutual partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Plymouth Rock AssurancemajorProvidence Mutual entered into an agreement with Plymouth Rock Assurance to transfer auto insurance business. Plymouth Rock will provide auto insurance renewal offers to eligible Providence Mutual policyholders in Connecticut and New Hampshire. This partnership allows Providence Mutual to exit auto insurance (both commercial and personal lines) in Connecticut, Maine, New Hampshire, and Rhode Island, focusing resources on core products. Plymouth Rock writes and manages more than $2 billion in auto, home and umbrella insurance premiums across multiple Northeast states.
Scale indicators5 records
Recent moves7 records
Expansion highlights4 records
Providence Mutual competitors and assessment
Company assessmentDirect peers
- The Hanover Insurance Group: Regional P&C insurer with personal and commercial lines distributed through independent agents across the Northeast and Midwest. Comparable in independent-agent channel, regional Northeast emphasis, and core P&C product mix (homeowners, BOP, umbrella).
- Erie Insurance Group: Mutual P&C insurer serving primarily the Mid-Atlantic and Northeast through a network of independent agents. Comparable to Providence Mutual in mutual ownership, agency distribution model, and personal-property underwriting orientation.
- Plymouth Rock Assurance: Northeast P&C carrier writing auto, home, and umbrella through both independent agents and direct channels in MA, CT, NH, and NJ. Directly relevant as Providence Mutual's auto-book transfer partner and a comparable regional multi-line P&C player.
- NJM Insurance Group: Mutual P&C insurer headquartered in the Northeast (New Jersey), selling personal lines and commercial coverage to members through a regional model. Closely comparable to Providence Mutual in mutual structure, regional Northeast focus, and personal-property-heavy book.
- Amica Mutual Insurance: Mutual property and casualty insurer with a strong homeowners, auto, and umbrella franchise in the Northeast and nationwide. Comparable to Providence Mutual in mutual ownership, personal-property focus, and high-touch service positioning.
- Arbella Insurance Group: Regional mutual P&C carrier concentrated in Massachusetts and the broader Northeast, selling personal and commercial lines through independent agents. Highly comparable to Providence Mutual in mutual structure, regional footprint, and independent-agent distribution.
Regional players
- Donegal Group: Regional P&C holding company (Donegal Mutual) writing personal and commercial lines primarily in the Mid-Atlantic and Northeast through independent agents. Comparable in product mix and agency channel, though with a somewhat broader geographic footprint.
- Selective Insurance Group: Regional P&C carrier focused on commercial lines and personal lines in the Northeast, Mid-Atlantic, and Southeast, distributed through independent agents. Comparable in channel and product overlap (BOP, personal property, umbrella) but with heavier commercial orientation.
Broad incumbents
- Cincinnati Financial: Large publicly traded P&C insurer selling personal and commercial coverage through independent agents across most of the US. Comparable in independent-agent distribution and P&C product breadth, but materially larger and more geographically diversified.
- Liberty Mutual Insurance: National multi-line P&C carrier with broad personal and commercial offerings including homeowners and BOP across all 50 states. Comparable in product lines (homeowners, BOP, umbrella) and independent-agent relationships in the Northeast, but with vastly greater scale and a broader portfolio.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Providence Mutual social profiles
Digital presenceProvidence Mutual financial estimates
Financial estimateRevenue estimate
Valuation estimate
Providence Mutual leadership team
Management profileNumber of profiles
Profiles14 records
Providence Mutual funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Providence Mutual M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Providence Mutual
What does Providence Mutual do?
Providence Mutual underwrites and sells property and casualty insurance products—homeowners, small business (BOP), condo owners, renters, umbrella, and dwelling fire—distributed exclusively through a network of independent insurance agents across seven Northeast U.S. states. As a mutual insurer, it is owned by its policyholders and underwrites nearly $100 million in annual written premium, with direct agent-underwriter relationships enabling customized coverage for complex risks.
Is Providence Mutual a public or private company?
Providence Mutual is a private company. It is classified as management employee owned and is currently operating.
When was Providence Mutual founded?
Providence Mutual was founded in 1800. It employs 101 to 250 people.
Where is Providence Mutual based?
Providence Mutual is headquartered in Warwick, United States, in the North America region.
How does Providence Mutual make money?
Two revenue lines are on record. Property and Casualty Insurance Premiums are the primary driver. The others are insurance Policy Billing Services.
Who are Providence Mutual's main competitors?
Direct peers on record are The Hanover Insurance Group, Erie Insurance Group, Plymouth Rock Assurance, NJM Insurance Group, Amica Mutual Insurance and Arbella Insurance Group. Regional players are Donegal Group and Selective Insurance Group. Broad incumbents are Cincinnati Financial and Liberty Mutual Insurance.
Does Providence Mutual have an API?
No public API is recorded for Providence Mutual.
What industry is Providence Mutual in?
Providence Mutual's product category is Property and Casualty Insurance. Its primary akta.pro industry code is FSAJAFAB, Mid-Market Commercial Package (Package Policies). Its NAICS code is 524126 and its SIC code is 6331.