Philadelphia Insurance Rates:

Philadelphia, PA homeowners insurance is roughly $611 to $826, about $50-$68/month. Our in depth research reveals consumers can save as much as $287 by comparing multiple quotes. Enter your zipcode below and click “GO” to get multiple free quotes.

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How to Make Home Insurance Cheap in Philadelphia

In Philadelphia PA, homeowners pay average home insurance of $708. The cost of home insurance is dependent on a  number of factors, including the coverage, deductible, age of your house and the kind of materials you used to build the house. Below is the summary of average home insurance costs available to Philadelphia Homeowners based on the deductible and other variables.

Philadelphia PA, Home Insurance Cost for different deductibles.

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Homeowners can choose cheap home insurance rates based on the deductible. It is the easy way to benefit the most and save money. Homeowners can avail of attractive discounts by opting for higher deductibles. Philadelphia homeowners paying a high deductible of $2500 can avail of home insurance for $508.Homeowners receive insurance for $541 and $596, respectively, on deductibles $2000 and $1500.

The average cost of house insurance is directly proportional to the age of the home. Newly constructed Philadelphia homes can avail lower insurance of $531 since newly built homes have a lesser threat to damage. As a result, home insurance companies offer substantial discounts to newly constructed homes. On the other hand, older homes attract higher insurance rates, since they are more prone to damage. As a result, Philadelphia homes older than 40 and 50 years receive an additional cost of $726 and $735, respectively.

The house's construction type is considered an integral factor in determining the cost of home insurance by insurance companies. The more resistant your house is to damage, the less is the average insurance cost.For example, if the house is built with a fire-resistive, homeowners in Philadelphia can avail of the insurance for an average cost of $827. Insurance companies in Philadelphia offer home insurance for $673 for homes built with Masonry and Brick. Homes constructed with superior and hail resistant roofs attract a higher amount $644 and $687 respectively.

Apart from all these factors, homeowners can avail cheap home insurance costs from insurance companies based on the security features and senior citizens residing in the households.

How to Choose the Cheapest Philadelphia, PA, Home Insurance Company

Homeowners in Philadelphia, PA, pay an average home insurance rate of $708. This is almost half of the national average premium of $1,438. This does not come as a surprise considering the state of Pennsylvania is known for lower home insurance rates with the average being $745. Homeowners in Philadelphia can further reduce their home insurance rates by choosing the cheapest home insurance company.

Below are some of the factors that homeowners have to consider to choose the cheapest home insurance company based on their coverage needs.

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Compare Quotes

Home insurance quotes vary from one insurance company to another. Home insurance companies consider various factors, such as coverage requirements, home value, home size, age of the home, home construction materials, and deductibles to determine the home insurance rates. Philadelphia homeowners are suggested to compare multiple quotes before choosing the cheapest option. Philadelphia homeowners should find a balance between their coverage requirements and home insurance rates.

Deductibles Vs. Home Insurance Rates

The cost of home insurance varies widely depending on the deductible that homeowners opt to pay. Paying a high deductible lowers home insurance rates. On the other hand, opting for a low deductible increases home insurance rates. For example, Philadelphia residents pay an average home insurance rate of $700 on a deductible of $500. The average cost of home insurance for deductibles of $2,000 and $2,500 are $541 and $508, respectively. Philadelphia homeowners are advised to choose the company that offers the lowest home insurance quotes for the deductible they opt to pay.

Add-on Policies

Home insurance companies offer additional policies besides the standard home insurance policy. The add-on policies include flood insurance, earthquake insurance, pet insurance, and collectible insurance. The agents of home insurance companies work with homeowners to understand their requirements and customize their policies accordingly. Philadelphia homeowners should go with the service provider that offers the cheapest quotes according to their coverage needs.

Available Discounts

Home insurance companies offer multiple discounts to homeowners based on different criteria. Philadelphia homes constructed using sturdy materials receive considerable amounts of discounts on home insurance. Newly constructed Philadelphia homes can avail of discounts of up to $177 on home insurance rates. Furthermore, homes equipped with enhanced safety features also attract discounts from home insurance companies.

Claims History of Homeowners

Home insurance companies consider the claims history of homeowners to determine home insurance rates. Philadelphia homeowners who have a claim-free history pay lower home insurance rates. The average cost of home insurance for Philadelphia homeowners with a claim-free history is $609. On the other hand, filing claims increases the cost of home insurance. The average home insurance rates for Philadelphia homeowners with 1 and 2 claims are $765 and $800, respectively.

Philadelphia, PA, Best Homeowners Insurance Companies

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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Philadelphia, PA Homeowners Insurance By Home Value

Philadelphia, PA Home Value Total Homes % of Total Average Philadelphia, PA Homeowners Insurance
Less than $50,000 35,271 12.0% $122
$50,000 to $59,999 11,553 3.0% $258
$60,000 to $69,999 13,297 4.0% $323
$70,000 to $79,999 14,896 5.0% $373
$80,000 to $89,999 17,120 5.0% $423
$90,000 to $99,999 14,400 4.0% $473
$100,000 to $124,999 34,030 11.0% $552
$125,000 to $149,999 23,807 8.0% $689
$150,000 to $174,999 30,914 10.0% $818
$175,000 to $199,999 21,666 7.0% $940
$200,000 to $249,999 37,684 12.0% $1134
$250,000 to $299,999 20,252 6.0% $1385
$300,000 to $399,999 18,863 6.0% $1759

Top Home Insurance Agents Near Philadelphia, PA

Home Insurance Company Near Philadelphia, PA Homeowners Insurance Agency Near Philadelphia, PA Address
Travelers Ecbm Lp 300 CONSHOHOCKEN STATE RD STE 405, WEST CONSHOHOCKEN, PA, 19428
Travelers First Choice Insurance Group 701 CROSS RD, LEDERACH, PA, 19450
State Farm Jim Mckenna 3425 Garrett Rd, Drexel Hill, PA, 19026-2320
Nationwide Raymond L Maniscalco Clu 5700 Kirkwood Hwy STE 103, Wilmington, DE, 19808
State Farm Vincent Gerbasio 1649 Hausman Rd, Allentown, PA, 18104-9257

Philadelphia, PA Home Insurance Agents for Top Companies


Cost Of Homeowners Insurance By Street Near Philadelphia, PA

Streets in Philadelphia Area Homeowners Insurance Cost
Inwood Ln, Brush Rd, E Juniata St, Kingsfield Rd, Modena Ter, Hoff St, Casimir St, Greymont St, Widener Pl, Wagner Ave$760
W Seybert St, Chestnut Ln, Saint Albans St, Nicholas St, Walter St, Edison Ave, S 41st St, Marlton Ave, Mallory St, W Berkley St$713
N 37th St, E Salaignac St, Old Townsend Rd, Rubicam St, Cresco Ave, N 68th St, Murdoch Rd, Delaware Expy, W Indiana St, Dorel St$714
Loxley Ct, Scotchbrook Dr, Wendle Ct, Winter St, S 72nd St, Dyre St, Magdalena St, Blaine St, S Bambrey Ter, N 62nd St$717
Lefevre St, S Paxon St, W Roberts Ave, Concordia Pl, E Wister St, W Washington Sq, E Armstrong St, E Columbia Ave, Emerald St, Dondill Pl$827
Kern St, Matthews St, Station Ln, Newland St, Stewart St, Prospect Ave, Megargee St, S Independence Ml E, Evergreen Ave, Cranston Rd$741
N Mole St, Cotton St, S Harmony St, Calpine Rd, 3rd St E, Beverly Rd, Cardiff St, Bartram Ave, Stearly St, E Meade St$714
Pilgrim Ln, W Allens Ln, W Stafford St, Andale St, Authority Ter, Cargill Ln, Oak Lane Ave, Belgreen Ter, Evergreen Pl, Dupont St$727
Gifford St, Bloomfield Ave, Farrell Ct, Deer Run Pl, Maiden St, Cliveden St, Delaware Ave, Hedgerow Ln, W Winona St, Merion Ave$None
Gransback St, Bailey Ter, Centennial Sq E, North St, Erie Ave, Golf Rd, Thomas Ave, Essex Ln, Crabtree St, Forest Pl$762

Philadelphia, PA Home Insurance Savings For Senior Occupied Homes

PlaceSavings For Senior Occupied Homes
Philadelphia$107 to $109
Philadelphia County$107
Cheltenham$117
Pennsauken$121

Philadelphia, PA Auto & Homeowners Insurance Bundling Discounts

Place 1 Car Bundle Savings On Insurance 2 Car Bundle Savings On Insurance 3 Car Bundle Savings On Insurance
Philadelphia County, Pennsylvania $107 $143 $215
Cheltenham township, Montgomery County, Pennsylvania $117 $156 $234
Pennsauken township, Camden County, New Jersey $122 $162 $243

Philadelphia, PA Area Home Insurance as a % of Housing Cost

PlaceHome insurance as a % of housing cost for homes with mortgageHome insurance as a % of housing cost for homes without mortgage
Philadelphia, PA4.8%14.0%
Philadelphia4.81%13.95%
Cheltenham2.68%6.5%
Pennsauken3.95%9.22%

Philadelphia Renters Insurance as a Percentage of Rent

Philadelphia Home By Monthly Rent Total Homes % of Total Estimated Monthly Income To Afford Rented House Including Renters Insurance
Less than $200 7,574 2.0% $343
$200 to $299 10,256 4.0% $793
$300 to $499 17,694 6.0% $1243
$500 to $749 52,367 20.0% $1918
$750 to $999 76,586 30.0% $2668
$1,000 to $1,499 65,674 25.0% $3793
$1,500 or more 24,290 9.0% $5443

Philadelphia, PA Homeowners Insurance by Zip Code

Zip Code Median Home Value Median Homeowners Insurance
19104 $99,800 $710
19120 $97,500 $700
19124 $92,400 $700
19141 $91,100 $700
19142 $84,600 $700
19121 $83,200 $690
19143 $82,800 $700
19139 $77,700 $690
19134 $74,300 $690
19140 $59,900 $680
19133 $52,500 $680
19132 $47,700 $680
19106 $459,400 $880
19118 $441,600 $860
19103 $427,600 $850
19130 $343,700 $820
19107 $322,300 $820
19147 $301,700 $800
19102 $293,000 $790
19123 $290,700 $800
19116 $242,300 $770
19115 $235,800 $770
19128 $235,800 $760
19119 $231,100 $770
19113 $227,500 $770
19127 $215,500 $750
19129 $210,700 $760
19154 $207,800 $760
19152 $201,700 $760
19114 $198,300 $740
19146 $190,300 $760
19111 $180,800 $740
19148 $167,900 $730
19125 $153,800 $730
19145 $152,100 $730
19136 $146,800 $720
19150 $145,400 $730
19153 $137,000 $730
19149 $135,700 $720
19137 $133,000 $720
19126 $128,900 $720
19151 $125,300 $720
19135 $119,600 $710
19144 $118,700 $710
19122 $112,700 $710
19138 $107,700 $700
19131 $101,200 $700

Philadelphia, PA Home Insurance Costs With Deductible Scenario

Low DeductibleHigh Deductible
Deductible$1,600$2,600
Yearly Philadelphia Homeowner Insurance Premium Example $600$400
Out of Pocket Expense During Claim$1,600$2,600
Total Home Insurance Premium for 8 years + Out of Pocket Expense for Claim $6,400$5,800
Net Savings to Philadelphia Home Owner from High Deductible Plan $600

Philadelphia, PA Home Insurance Costs With Home Replacement Value Scenarios

Scenario Philadelphia, PA Home Replacement Value MORE than Home Value Philadelphia, PA Home Replacement Value LESS than Home Value
Replacement Value $285,500 $192,000
Insurance Premium based on Replacement Value $1,450 $975
Risk Exposure from Under Insuring Coverage Unnecessary Home Insurance Coverage of $31,000 Risk Exposure from Under Insuring Coverage is $62,500
Premium Impact Insurance cheaper by $325/year Insurance costlier by $150/year

Example Philadelphia Homeowners Insurance Comparison Table to Compare The Cheapest Quotes

Insurance Company Liberty MutualFarmers InsuranceChubb Group of Insurance
Monthly Premium 326868
Year Built 194019601951
Home Details 2 Beds, 1 Baths3 Beds, 1 Baths4 Beds, 2 Baths
Coverage Amount $100000-$125000$150000-$175000$150000-$175000
Deductible $1000-$2500 Deductible$500- $1000 Deductible$500- $1000 Deductible

Sample Home Insurance Rates for Philadelphia, PA from Consumer Reviews & Surveys

Year Built Home Value Roof Type Sqft Number of Bedrooms Deductible Premium Premium Months Siding Type Smoker/Non Smoker
1966 255,000 Composition Roof 3,270 4 $500- $1000 Deductible 200 2 Wood siding No
1946 130,000 Asphalt Shingles Roof 1,220 2 $1000-$2500 Deductible 50 1 Brick siding No
1974 165,000 Slate Shingles Roof 1,640 4 $500 Deductible 440 6 Fiber-Cement Siding No
1952 135,000 Asphalt Shingles Roof 1,770 4 $500 Deductible 690 9 Stone Siding No
1942 275,000 Slate Shingles Roof 2,680 4 $1000-$2500 Deductible 1190 10 Stone Siding yes
1966 170,000 Tile Roof 2,340 3 $2500-$5000 Deductible 220 6 Vinyl siding No
1977 125,000 Slate Shingles Roof 1,300 3 $500 Deductible 380 8 Stone Siding No
1945 105,000 Metal Roof 1,170 2 $2500-$5000 Deductible 280 9 Wood siding No
1943 195,000 Wood Shake Roof 2,350 3 $1000-$2500 Deductible 660 12 Vinyl siding yes
1978 100,000 Membrane Roof 1,340 2 $2500-$5000 Deductible 60 3 Vinyl siding yes
1945 130,000 Membrane Roof 1,260 3 $500 Deductible 90 2 Stone Siding No
1978 120,000 Shingles Roof 1,250 2 $500 Deductible 200 4 Stucco siding yes
1975 205,000 Asphalt Shingles Roof 2,150 4 $1000-$2500 Deductible 60 1 Brick siding No
1968 110,000 Asphalt Shingles Roof 1,380 2 $2500-$5000 Deductible 90 3 Wood siding No
1968 115,000 Slate Shingles Roof 1,240 3 $500 Deductible 370 8 Stucco siding yes
1954 185,000 Metal Roof 2,290 4 $2500-$5000 Deductible 630 9 Vinyl siding No
1977 295,000 Membrane Roof 3,180 4 $1000-$2500 Deductible 240 3 Stone Siding No
1950 180,000 Slate Shingles Roof 1,770 3 $5000 to $10,000 Deductible 250 8 Stone Siding yes
1959 130,000 Wood Shake Roof 1,720 4 $500- $1000 Deductible 590 10 Fiber-Cement Siding yes
1970 180,000 Wood Shake Roof 2,140 3 $500 Deductible 330 6 Stucco siding No
1940 220,000 Composition Roof 2,960 4 $5000 to $10,000 Deductible 210 3 Brick siding yes
1969 145,000 Wood Shake Roof 1,470 2 $2500-$5000 Deductible 220 8 Fiber-Cement Siding yes
1945 190,000 Slate Shingles Roof 2,310 3 $500 Deductible 630 7 Stucco siding yes
1949 300,000 Composition Roof 3,280 4 $1000-$2500 Deductible 950 8 Stone Siding No
1974 100,000 Slate Shingles Roof 960 2 $2500-$5000 Deductible 70 2 Stucco siding yes
1947 165,000 Asphalt Shingles Roof 1,630 4 $500- $1000 Deductible 450 9 Stucco siding No
1941 245,000 Metal Roof 2,450 4 $500- $1000 Deductible 130 2 Vinyl siding yes
1950 165,000 Wood Shake Roof 1,740 2 $1000-$2500 Deductible 340 6 Stone Siding yes
1945 175,000 Wood Shake Roof 1,760 4 $500 Deductible 850 12 Wood siding No
1971 250,000 Membrane Roof 2,650 4 $500- $1000 Deductible 460 5 Vinyl siding yes
1942 120,000 Composition Roof 983 3 $1000-$2500 Deductible 100 3 Stone Siding yes

Latest Home Insurance Reviews

Travelers
Based on the experience that we have had the insurance company has been great. Timely communication and that has made a big difference in why would recommend to another family shopping for insurance.
State Farm
I would recommend State Farm. Their prices are reasonable and it seems as though they cover situations that may occur in California where we are located.
State Farm
i would definitely recommend state farm insurance to others looking for an insurance company to use. we have state farm not only for our home but also our cars and even with that they have been nothing but great.
State Farm
The premium and deductible on my State Farm policy are great rates for me. I checked others and they were all pretty close to what I have but the staff was much better at State Farm.
Allstate
I would recommend Allstate because their prices are reasonable, unlike most companies, they are easy to work with, and the personnel are always pleasurable to speak with.
Allstate
I would recommend this company because of their customer service, well in sales at least. We were able to have our questions answered easily and quickly and coverage beginning when we needed it.
Geico
Compare to other company insurance this company always give us the best offers and also the most things that customers need will cover. Also they will offer you soon as soon as possible.
Universal Property & Casualty Insurance Company
I have shopped around to a few other companies and UPC seems to be the cheapest that I have found by far.
Erie Insurance
I would recommend Erie vs. other larger companies. I would recommend them for not only home but auto policies. We revisit my policies annually to see if we should change things which I like. I would rate them a 5.
Travelers
Travelers Insurance policy is very good as compare to others. When I was about to purchase insurance I compare this company with other companies and I like there policy that's way I select this one.
State Farm
My premium and deductible are reasonable. Again...we have not filed any claims yet. We have been lucky that a hurricane has not made a direct hit in our area (Northeast Florida).
Erie Insurance
They offer multiple comprehensive plans of all types across all price points. They also offer the ability to build your plan from scratch. That is the option we chose.
Farmer's Insurance
Farmers insurance is expensive and feels they could lower their prices to match the market. i don't want to change out insurance yet because of our agent but the price you pay for the services rendered is more than most other insurance companies.
Nationwide
I do not necessarily like we do pay extra premiums for having a trampoline and a swimming pool, as we do have a six-foot privacy fence which is padlocked.
State Farm
Could be a little lower. The house isn't that valuable. Nor is there much of any real value in i.e. don't know what other companies would offer because I've never checked. It's just too much of a hassle to deal with that.
State Farm
We get bounced around to agents and the current one doesn't care about us, we are just a number. She doesn't solve problems or even apologizes but she will quickly send a bill. You have to double check their work.
State Farm
It's there when I need to use it and sometimes we do but since the payments are auto deducted from the checking account and we haven't had to file a claim, I haven't checked it in detail.
Progressive
For me, the main thing that helped was that I already had auto insurance through progressive so it made it easy to sign up for home insurance when I bought my house too.
Nationwide
WE CAN ALWAYS GET A HOLD OF OUR INSURANCE MAN WHETHER AT WORK OR HOME WHETHER WE HAVE A PROBLEM OR QUESTION
State Farm
They communicate with us well. They are always sending us pieces of mail and emails regarding our premium. I only wish that the website would have a portal to talk to a real agent, rather than a bot
The Hartford
There are few things that I do not like about this company but one of those few things on the website, because it is a bit slow and contains little information.
Allstate
The costs relative to the value of the house I feel are not the best but we signed a long-term contract preventing us from really changing the value of our insurance payments.
State Farm
Slowness. I still don't understand why things are so slow. I have a job at a fairly large company and we work fast. This makes me think leadership is somewhat lacking at this company. The individuals I work with are not leadership and are somewhat hindered by the process.
State Farm
I wish I could have dealt with just one person instead of three or four and I wish I could have talked to the agent himself.
Mutual Benefit Group
The name got us interested when we were looking to switch, Michigan Farm Bureau. They are experts at insuring farms, acreage, rural areas, which is where we live, in a very small town in the thumb of Michigan. Their pricing was awesome, same or better coverage than State Farm, and small enough that you can talk to someone almost immediately (in most cases).
Metlife
Definitely would recommend. Better coverage for less money. Also, State Farm was constantly sending me ads and things in the mail and MetLife does not do that which I appreciate.
Progressive
I would recommend Progressive for home insurance. The are professional and handle claims in a timely fashion. It helps if you also have you car insurance with them.
Progressive
It is recommended as it guarantees to find the best quote that exists in home insurance that is in the market. This ensures that anyone will have the best possible quote.
Farmer's Insurance
They don't have a personal bank like state farm so I can do auto loan financing through them as well. other than that I am very happy with them
Allstate
There is nothing I dislike, I am very satisfied, I would not change the company's, especially with low prices and great prices, I really feel like I'm getting a good deal.
State Farm
From term to whole life and everything in between, life insurance is a wise and caring way to help fulfill your promises.

How To Make Your Philadelphia, PA Home Insurance Cheaper

How Much Does Philadelphia, PA Home Insurance Cost?