Best Home Insurance Rates In Pennsylvania

On average, your neighbors pay $76 a month.

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Pennsylvania is the nation’s largest producer of mushrooms. It's the second-largest producer of apples. And is historically known for its steel production. The Keystone State has produced too many athletes and actors to count. And also a number of important politicians, including the 15th President, James Buchanan. Pennsylvania was the second state ever, founded to be a place of religious freedom. That said, The Quaker State’s variable climate leads to a number of homeowners insurance risks as well.

Average Pennsylvania Homeowners Insurance Rates

How much is home insurance in Pennsylvania? Pennsylvania has homeowners insurance premiums that are lower than the national average. The average cost of homeowners insurance in the state of Pennsylvania is $913. That's well below the national average of $1,173. Only 13 states have lower average homeowners insurance rates than Pennsylvania.

Pennsylvania (PA) Average Annual Homeowners Insurance Rates
  2013 2014 2015
Pennsylvania Annual Average $863 $893 $913
Pennsylvania Price Per Month $72 $74 $76
US Annual Average $1,096 $1,132 $1,173
US Cost Per Month $91 $94 $98
National Rank 37 37 38
Source: Facts + Statistics: Homeowners insurance

The graph below shows the change in average Pennsylvania home insurance rates from 2011 to 2015, the most recent year the data is available. According to the III, Pennsylvania homeowners insurance rates increased from $744 in 2011 to $913 in 2015, a jump of $169 dollars, or 22.72 percent.

Pennsylvania average homeowners insurance rates

Choosing a homeowners insurance company in Pennsylvania should be easier. Actually, it’s already easy. The key to finding the best rates is to compare home insurance quotes in Pennsylvania from multiple companies.

Most Popular Pennsylvania Home Insurance Companies

Last year, these were the 10 most common home insurance companies reported by QuoteWizard users living in the state of Pennsylvania. Out of the 27,401 Pennsylvania homeowners that used QuoteWizard to request insurance quotes last year, 1,358 had no home insurance.

  1. Allstate
  2. Nationwide
  3. Erie
  4. Liberty Mutual
  5. Progressive
  6. Geico
  7. Farmers 
  8. AAA
  9. Travelers
  10. USAA
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Best Homeowners Insurance Companies in Pennsylvania

The above list shows Pennsylvania’s most popular home insurers according to our users. But popular doesn’t always mean best.

Our study on the Best Homeowners Insurance Companies focuses on top of the line companies. In no particular order, these companies stand out among the rest:

  1. Amica: Best Overall
  2. MetLife: Best for Bundling
  3. Allstate: Best for Local Agents
  4. Hartford: Best for Seniors
  5. State Farm: Best for Pet Owners
  6. Travelers: Best for Flexible Policies
  7. Nationwide: Best Replacement Coverage
  8. Farmers: Best for Eco-Friendly Homes
  9. Liberty Mutual: Best for Quick and Easy Quotes
  10. Auto Owners Insurance: Best Claims Experience
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Pennsylvania Home Insurance Company Market Share

Source: Insurance Information Institute
Rank Company Financial Rating Market Share
1 Erie Insurance A+ 14.7%
2 Allstate A+ 14.7%
3 Nationwide Mutual A+ 9.2%
4 Liberty Mutual A 8.4%
5 Travelers Companies A+ 7.6%
6 USAA Insurance A++ 3.4%
7 Chubb A++ 2.8%
8 Donegal Insurance A 1.9%
9 Farmers Insurance A+ 1.8%
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Pennsylvania Home Insurance Rate Factors

There are several different factors that determine the price of your homeowners insurance. Some, like roof maintenance, are within your control. Others, like crime rates, are beyond your control. Here are some of the factors that affect the cost of homeowners insurance in Pennsylvania.

Your Personal Rate Factors

Your House

Homeowners insurance rates vary from home to home. These are the main factors that affect your house's insurance rates:

  • Your home’s age. If you own an older home, expect to pay more for homeowners insurance. That’s because older homes have a higher chance of needing major repairs. And major repairs can mean major insurance claims. Most PA residents have old homes, with 5 percent of PA homes built in 1939 or earlier.
  • The age and quality of your roof. Maintaining your roof with region-appropriate material can lower your monthly rates. Roof upkeep (or replacement, if necessary) is a good place to start if you want to save money on your homeowners insurance. It can mean the difference between major and minor repairs after storm. In PA, for example, keep your gutters clear to prevent flooding in case of severe rainfall.
  • Your home’s replacement cost. Replacement cost is how much money it will take to rebuild your home from the ground up. A high replacement cost means high insurance premiums. Replacement cost should match your dwelling/structure coverage. It is based off style and size, not how much you bought your home for. For example, a home worth $150,000 in Pittsburgh could have a higher replacement cost than a $400,000 home in West Chester.

Claims History

Your rates will rise with the amount of claims you file. Claims stay on your record for five to seven years. If you file additional claims during that time, your prices could skyrocket. Insurers may even refuse to cover homeowners with multiple claims under their belt. That’s why homeowners should avoid filing unnecessary claims whenever possible.

Coverage

Home insurance policy prices vary based on your home’s style. 21.6 percent of PA homes have six rooms. Policies also depend on what you want covered and come with different coverage options. For example, if you want extra coverage for your valuables, you’ll have to pay more. Coverage also depends on your home’s size.

Credit Score

Your credit score influences your homeowners insurance rates. It’s a controversial practice, but widely used by insurance companies. People with bad credit pay more in premiums. PA has the 20th best average credit score in the country.

Pennsylvania Rate Factors

Weather

PA is the 28th most natural disaster-prone state in the country. The higher the risk of natural disasters in your area, the higher your insurance rates will be. Although PA is a small state, weather varies depending on where in the state you live. For example, towns closer to the coast are at higher risk of being hit by hurricanes, so make sure to keep your trees trimmed in case of high winds.

No matter where in the state you live, PA residents should be ready for these natural disasters:

  • Hurricanes
  • Blizzards
  • Floods
  • Tornadoes
  • Landslides
  • Earthquakes

According to Ready PA, there are steps you can take to prepare your home for a natural disaster.

  • Before a storm, learn how to turn off water, gas, and electricity.
  • Buy flood insurance.
  • Keep rain gutters clear.
  • Keep trees trimmed.

Property Crime

Burglary is a risk for both you and your home. That’s why areas with high property crime rates pay more for homeowners insurance. PA has the eighth lowest property crime rate in the nation. In 2017, the average property crime rate in your state was 1,649.4 per 100,000 residents.

PA crime rates vary depending on where in the state you live. For example, Philadelphia has an average of 31.48 property crimes annually per 1,000 residents. Whereas Bethlehem has an average of target="_blank"20.31 property crimes annually per 1,000 residents.

Like natural disasters, there are steps you can take to limit the risk of a burglary in your home. These steps include: security cameras, alarms, deadbolt locks, and more.

Types of Home Insurance Policies

Homeowners have several insurance options when shopping for coverage. In PA, you can choose from these policy types:

  • HO-1: The most basic policy type. This insurance policy covers normal damages.
  • HO-2: A broad level of homeowners insurance. It covers everything in HO-1, and falling objects and damages to AC units, pipes, and other home systems.
  • HO-3: The most popular homeowners policy type. HO-3 covers unattached structures and all damages unless specifically excluded.
  • HO-5: This is a comprehensive policy like HO-3, but it comes with more coverage and less property claim limitations. This is considered a premium policy.
  • HO-6: If you own a condo, this may be the best policy for you. It covers possessions and provides liability for condo owners.
  • HO-7: This policy offers similar coverage as HO-3, but for mobile homeowners.
  • HO-8: If you own an older home, you may need a policy to cover its unique needs. This policy is like HO-3, but specifically for older homes.

Pennsylvania Office of the Insurance Commissioner

Website:
Homepage
Insurance Commissioner:
Jessica K. Altman
Insurance Hotline:
(877) 881 – 6388
Office Hours:
Monday - Friday
8:30 am to 5:00 pm
File a Consumer Insurance Complaint
Complaint Page

Sources:

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