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Determining the best homeowners insurance companies in Philadelphia, PA, goes beyond the home insurance rates provided to homeowners. A home insurance company is rated based on its financial strength, customer satisfaction, market share, and problem-free claim experiences.

State Farm

State Farm received a financial strength rating of A++ (superior) from A.M. Best and a rating of AA (very strong) from S&P Global. Even though home security discounts of State Farm are not available in the state of Pennsylvania, it still manages to occupy the largest market share in Pennsylvania’s home insurance market with a 10% share.

Liberty Mutual

Liberty Mutual has a financial strength rating of A (excellent) from A.M. Best, which means the insurance company is capable of handling all potential claims of current policyholders. Liberty Mutual also received a rating of A (strong) from S&P Global. According to a recent NAIC report, Liberty Mutual has a 5.20% market share in the state of Pennsylvania.

Farmers

Farmers received a financial strength rating of A+ (superior) from A.M. Best and a rating of A (strong) from S&P Global. Farmers has a 24/7 claims support service and Mobiles Claim Center buses to handle priority claims. Moreover, if homeowners go five or more years without filing a claim, Farmers waives off surcharges on home insurance rates.

Nationwide

Nationwide received a financial strength rating of A+ (superior)  from A.M. Best and a rating of A (strong) from S&P Global. Nationwide provides optional coverages such as replacement value coverage, upgraded roof insurance, and umbrella liability insurance, in addition to its standard home insurance policy. Nationwide has a market share of 5.42% in the state of Pennsylvania.

Travelers

Travelers received a financial strength rating of A (Excellent) from A.M. Best, and AA (very strong) from S&P Global. Travelers provides diverse home insurance coverages like dwelling coverage, structures coverage, personal property coverage, and personal liability coverage. When it comes to market share, Travelers has a 5.13% market share in the state of Pennsylvania.

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