Compare Homeowners Insurance Quotes In Pennsylvania

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Best Home Insurance Rates In Pennsylvania

Pennsylvania is the nation’s largest producer of mushrooms, 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, as well as 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

Pennsylvania has insurance premiums that are lower than the national average. According to the most recent available data from the Insurance Information Institute, in 2014, the average cost of homeowners insurance in the state of Pennsylvania was $893, well below the national average of $1,132. Only 14 states have lower average homeowners insurance rates than Pennsylvania.

Pennsylvania Average Annual Homeowners Insurance Rates
  2012 2013 2014
Pennsylvania Annual Average $804 $863 $893
Pennsylvania Price Per Month $67 $72 $74
US Annual Average $1,034 $1,096 $1,132
US Cost Per Month $86 $91 $94
National Rank 36 37 37
Source: http://www.iii.org/fact-statistic/homeowners-and-renters-insurance

Choosing a homeowners insurance company in Pennsylvania should be easier. Actually, it’s already easy; you could just go with whichever company your mortgage lender recommends, but you probably won’t get the best rates that way. The key to finding the best rates is to compare home insurance quotes in Pennsylvania from multiple companies.

Best 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 Insurance
  2. Nationwide
  3. Erie Insurance
  4. Liberty Mutual
  5. Progressive Casualty
  6. Geico
  7. Farmers 
  8. AAA Insurance Co.
  9. Travelers Insurance
  10. USAA
Get a quote from some of these top rated insurers! Request Quote Get a Quote From Top Insurers

Why contact every individual company in Pennsylvania that you want a homeowners quote from when you can just answer a few questions about your home and desired coverage, and get competing quotes from agents? Save time and money with QuoteWizard.

Top 10 Pennsylvania Home Insurance Company Market Share

Source: Insurance Information Institute
Rank Company Direct Premiums Written (in thousands) Market Share
1 Erie Insurance Group $449,869 14.7%
2 Allstate $448,216 14.7%
3 Nationwide Mutual Group $281,169 9.2%
4 Liberty Mutual $255,057 8.4%
5 Travelers Companies Inc. $233,393 7.6%
6 USAA Insurance Group $103,521 3.4%
7 Chubb Corp. $84,742 2.8%
8 Donegal Insurance Group $59,295 1.9%
9 Farmers Insurance Group of Cos. $53,327 1.8%

Financial Strength Ratings of Top Pennsylvania Home Insurers

Source: A.M. Best (Ratings as of 8/5/2015)

  • Erie Insurance Group: A+
  • Allstate: A+
  • Nationwide Mutual Group: A+
  • Liberty Mutual: A
  • Travelers Companies Inc.: A+
  • USAA Insurance Group: A++
  • Chubb Corp.: A++
  • Donegal Insurance Group: A
  • Farmers Insurance Group of Cos.: A+
Get a quote from some of these top rated insurers! Request Quote Get a Quote From Top Insurers

Rating Guide

Pennsylvania Property & Casualty* Insurance Company Market Share

Source: National Association of Insurance Commissioners
Rank Company Direct Premiums Written (in thousands) Market Share
1 Erie Insurance Group $1,988,540 9.2%
2 Nationwide Mutual Group $1,479,352 6.9%
3 Allstate $1,438,643 6.7%
4 Liberty Mutual $1,248,768 5.8%
5 Travelers Companies Inc. $1,185,023 5.5%
6 Progressive Group $665,588 3.1%
7 Geico $657,564 3.1%
8 American International Group $630,507 2.9%
9 Zurich Insurance Group $528,960 2.5%
*Represents both home and auto insurance

Home Insurance Rate Factors

Many different factors come into play when insurance companies calculate the cost of homeowners insurance. Some, like the age of your home, are within your control. Others, like crime rates or natural disasters, are beyond your control. Here are some of the factors that affect the cost of homeowners insurance in Pennsylvania.

Average Home Listing Prices

Home prices can greatly affect the cost of insurance in any given state. A higher average home price generally means higher premiums in that state. For Pennsylvania, the average listing price is $214,579 as of July 2015, substantially less than the national average of $284,748.

Average Burglary Rates

Burglary is a serious and sometimes violent property crime. States with higher average burglary rates generally have higher average home insurance premiums, because the likelihood that someone will need to file a claim is higher. According to data from the FBI Uniform Crime Report, in 2013, Pennsylvania’ average burglary rate was 407.3 per 100,000 people, which is much lower than the national average of 610.0 per 100,000.

States with more law enforcement per capita tend to be safer than states with fewer policemen and women. In Pennsylvania, there are 62.0 law enforcement personnel per 100,000 total citizens, almost twice the national median of 32 per 100,000.

Home Insurance Hazards

Pennsylvania is a large, geographically diverse state, with two distinct climates. On the east, it rains more and has slightly more mild winters. But, moving west, the climate becomes colder, snowier, and cloudier. But all of Pennsylvania experiences cold winters and humid summers. Pennsylvania is also susceptible to some severe weather, including tornadoes.

Cold and snowy winters: On average, Pennsylvania receives about 19 days, and about 28 inches of snow annually, although western portions of the state receive much more snow. For example, in Erie, they average about 57 days of snow per year, and over 101 inches annually. This contrasts greatly with the eastern part of the state. For example, in Lancaster, they only receive about 8 days and about 18 inches of snow, on average.

While winters in Pennsylvania are not as cold as some nearby states, they can get quite cold, and January is the coldest month of the year. To the east, in Philadelphia, January’s average high is 40 degrees and the low is 26 degrees. Further west, in Pittsburgh, the average high is 36 degrees and the low is 21 degrees. Eastern Pennsylvania also is much sunnier than Western Pennsylvania, where it is much cloudier. Philadelphia averages 93 sunny days per year, while Pittsburgh averages only 59. The cold can be a serious homeowners insurance hazard, causing pipes to freeze and break. Not all homeowners insurance policies cover this type of damage, so check with your agent or broker to make sure your home is adequately covered.

Storms and other extreme weather: While precipitation is fairly uniform year-round, there are some occasional storms and extreme weather in Pennsylvania. Eastern Pennsylvania is vulnerable to tropical storms, especially during summer and fall. Because Pennsylvania is further inland, hurricanes usually lose steam before affecting Western Pennsylvania, resulting in heavy rain and strong wind, but not many of the other conditions normally associated with hurricanes. Preparation for these storms is necessary to minimize damage, so they don’t come as a surprise.

Pennsylvania is also susceptible to tornadoes, though much less than states closer to Tornado Alley. According to the National Oceanic and Atmospheric Administration, Pennsylvania averages 10 tornadoes per year. And, in 2012, the National Weather Service ranked Pennsylvania the #19 most tornado-prone state in the US. Tornadoes are most common in summer and fall, and are often the result of other storms, usually thunderstorms or tropical storms. In 2011, Pennsylvania experienced a record 30 tornadoes, proving that tornadoes are a serious threat to keep in mind while searching for homeowners insurance in Pennsylvania.

Pennsylvania Office of the Insurance Commissioner

Website:
Homepage
Insurance Commissioner:
Theresa D. Miller
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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