Philadelphia Renters Insurance

The Zebra
July 23, 2019

Philadelphia, Pennsylvania renters insurance


Renters insurance is important if you're renting a home. It insures your dwelling — and the personal property within — against a number of perils, including vandalism, wind damage, theft, or fire. Since these occurrences are fairly common, the affordability of a renters policy, and the potentially high cost of replacing your belongings, a renters insurance policy is a solid investment.

The cost of renters insurance relies on a number of factors, including your building's age, the materials from which it’s made, its location, and the pricing guidelines of your renters insurance company. In areas in which fire, lightning, wind, or hail are common, renters insurance could be more expensive.

The average yearly cost of renters insurance in Philadelphia is $212.

Finding cheap renters insurance in Philadelphia starts with shopping around and comparing policies. Consult our analysis of Philadelphia, Pennsylvania renters insurance premiums to commence your purchase process with as much background info as possible. Note that rates will vary based on coverage limits and other factors.


Philadelphia renters insurance:

  1. Rates by company
  2. Rates by coverage level
  3. Auto and renters insurance discounts

Renters insurance rates in Philadelphia by insurance company

Renters insurance rates in Philadelphia depend on the insurance company providing the quote. For instance, Erie offers the most affordable renters insurance in Philadelphia, at just $109 per year. That's less expensive than the city's average cost of $212, providing a $103 price break on typical rates in the city.

Begin your search for a renters insurance policy by exploring the cheapest insurers in Philadelphia.


CHEAP RENTERS INSURANCE COMPANIES IN PHILADELPHIA
CompanyAverage Annual Rate in Philadelphia
Erie$109
Penn National Insurance$111
Encompass$116
USAA$133
Travelers$163

Philadelphia renters insurance pricing by coverage tier

The cost of your renters insurance depends on the amount of coverage you carry. Two of the most common levels of renters insurance coverage are $25,000 and $50,000 property coverage. In Philadelphia, the annual cost difference between these tiers is about $102. If you can afford the up-front expense, purchasing more coverage might not be a bad idea.

Coverage LevelAverage Annual Rate in Philadelphia
$25K Property$161
$50K Property$263

Money-saving tip: bundle your renters and car insurance

If you’re seeking ways to save on your insurance expenditures, consider carrying your renters and auto policies with the same insurance company. Combining renters and car insurance in Philadelphia can lead to substantial savings. In fact, bundling renters and auto insurance leads to average savings of 6.8% on car insurance rates. The auto insurer with the cheapest bundled rate is GEICO, followed by Erie and Nationwide.


RENTERS AND AUTO INSURANCE BUNDLING SAVINGS IN PHILADELPHIA
Annual Bundle SavingsBundle Savings %
$1596.8%

Need renters insurance? Talk to an expert today.