Home Insurance in Philadelphia, PA

How to find affordable homeowners insurance in Philadelphia

One of the most important aspects of homeownership is home insurance. Along with your personal belongings, homeowners insurance covers your dwelling against many different perils, including fire, wind damage, vandalism, and theft. Incidents like this occur regularly. When paired with the high cost of repairing or rebuilding a home, purchasing a robust homeowners policy can seem like a great idea. A typical homeowners policy costs $114 per month in Philadelphia, Pennsylvania. This is on par with the national monthly cost of home insurance.

What you pay for homeowners insurance depends on many factors. This can include the overall value of your house, the value of your personal belongings, and the materials that were used when building your home. Your home's location can also impact how much you pay, as some locations are more prone to destructive hazards. If your area is at risk of being affected by hail, strong winds, fire, frozen pipes, or volcanic activity, then your premiums could be substantially higher than average. Discover more information about what your homeowners insurance policy covers.

Finding affordable home insurance in Philadelphia starts with shopping around and comparing policies. Check out the below summary of average Philadelphia homeowners insurance rates to ensure you start your search with as much background info as possible. It's important to remember that the cost of your homeowners insurance is often based on the coverage limits you choose as well as a variety of other factors.

Table of contents:

1. Rates by insurer
2. Rates by coverage amount
3. Rates by ZIP code
4. Rates by deductible amount
5. Policy bundling savings

 

Philadelphia home insurance by company

What you pay for homeowners insurance in Philadelphia will depend on the insurance company you get your policy through. The most inexpensive home insurance in Philadelphia comes from Penn National Insurance, which offers average annual rates of just $992 per year. This is more favorable than the city’s average homeowners premium of $1,372.

Below you'll find a list of the cheapest homeowners insurance companies in Philadelphia, Pennsylvania to help you start your search. Then, see our guide listing the best home insurance companies based on customer satisfaction and other factors.

AFFORDABLE HOME INSURERS IN PHILADELPHIA

Company	Average Annual Rate
Penn National Insurance	$992
Allstate	$1,100
USAA	$1,140
Encompass	$1,171
Safeco	$1,282

 

Philadelphia homeowners insurance prices by coverage level

Your chosen level of homeowners coverage impacts the insurance premiums you pay . Homeowners in Philadelphia who carry $200K in dwelling coverage pay an average of $933 per year, while those with coverage up to $400K pay around $1,909 per year.

POPULAR COVERAGE LIMITS IN PHILADELPHIA

Coverage Level	Average Annual Rate
$100K Dwelling	$589
$200K Dwelling	$933
$250K Dwelling	$1,216
$400K Dwelling	$1,909

 

Philadelphia home insurance rates by ZIP code

Not every area of Philadelphia has equal home insurance costs. The number of claims filed in your local area can be a factor in determining the price of your policy. Put simply, where you live could have a huge impact on what you pay for homeowners insurance.

The cheapest home insurance rates in Philadelphia are available in 19113. In 19113, the typical home insurance policy costs $1,136 per year — $236 less than the citywide average in Philadelphia. Find the best places to live in Philadelphia for cheap home insurance by looking at the following table.

AFFORDABLE HOME INSURANCE AREAS IN PHILADELPHIA

ZIP Code	Average Annual Home Insurance Rate
19113	$1,136
19118	$1,345
19106	$1,345

Some parts of Philadelphia, however, are prone to home insurance rates that are higher on average. Such areas might face a higher risk of perils such as severe weather and fires. Similarly, they may also have a higher amount of crimes such as burglary or vandalism. An average annual rate of $1,431 makes 19138 the most expensive ZIP code in Philadelphia for home insurance.

EXPENSIVE HOME INSURANCE AREAS IN PHILADELPHIA

ZIP Code	Average Annual Home Insurance Rate
19138	$1,431
19141	$1,427
19154	$1,422

 

Philadelphia homeowners insurance deductibles

Homeowners have numerous choices to make when buying a homeowners policy, including how high or low to set their deductible. The deductible is the total dollar amount that the insured must contribute toward a covered loss. Where you set your deductible can play a large part in how much you pay for insurance.

When thinking about your deductible, a good rule of thumb is that the lower your deductible, the higher your premiums. Therefore, if you need your home insurance rates to be lower, it pays to increase your deductible. It's worth calling out that your deductible should only be as high as you can reasonably pay in the event of a loss.

Below you'll find some typical deductibles offered on most home policies along with corresponding average insurance rates.

HOME INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN PHILADELPHIA

Deductible Level	Average Annual Homeowners Insurance Rate
$500	$1,337
$1,000	$1,216
$1,500	$1,138
$2,000	$1,047
$5,000	$878

 

Home and auto insurance bundling in Philadelphia

If you’re seeking ways to save on your overall insurance costs, consider purchasing your home and auto policies from the same insurance company. Bundling your homeowners and auto insurance can save you a substantial sum each month on your auto insurance bill. Bundling policies in Philadelphia could, in fact, lead to average annual savings of 13%.

CHEAPEST CAR INSURANCE RATES WITH HOME BUNDLE IN PHILADELPHIA

Company	Avg. Annual Auto Insurance Rate (With Bundle)
GEICO	$1,132
State Farm	$1,214
Country	$1,286
American Family	$1,371
Farmers	$1,453