How Much Does Renters Insurance Cost in Pennsylvania?
The average Pennsylvania renters insurance policy costs only $13 per month, which is lower than the national average of $15 per month. With the right renters insurance policy, you could protect your home and possessions from disaster for as low as $113 per year.
|Coverage amount||Average cost per month||Average cost per year|
|Source: National Association of Insurance Commissioners (2019)|
Renters insurance is one of the cheapest types of insurance around, and usually has an excellent coverage to cost ratio. Because basic policies are so affordable and increasing coverage is affordable, we recommend purchasing a policy that fully covers all your needs.
For example, in Pennsylvania, the cheapest renters insurance costs $9 a month. While this pocket-change rate sounds enticing, it only costs a few extra bucks for a higher coverage. We found plans in PA that cover $75,000 worth of belongings for just $17 a month. That extra $8 a month increases your coverage from less than $14,000 to $75,000. Relative to the extra cost, the extra coverage is worth it for many people.
Since most renters have between $20,000 and $30,000 worth of stuff, we recommend starting out with a plan with at least $20,000 worth of coverage. This sounds like a lot, but taken together, the costs of your clothing, electronics, furniture, kitchen supplies, and other belongings can add up fast. We recommend doing a broad survey of your belongings and home before purchasing a plan to get a better idea of what kind of coverage you need.
Pennsylvania renters can get covered for as cheap as $9 a month.
Best renters insurance companies in Pennsylvania
One way to get the most value out of your policy is to choose a company with a good customer service reputation.
When a major event happens and you need to file a claim, you want to be sure that your insurance company is willing to help you get your life back on track and money in your pocket. The speed with which your claim is approved and ease of filing can affect your quality of life during stressful times, so we recommend looking at companies that have good service reputations.
Customer service is evaluated with two different scores: the JD Power satisfaction index and the NAIC Complaint Index. Here’s a snapshot of the best renters insurance companies in Pennsylvania:
|Company||2019 J.D. Power overall satisfaction (out of 1,000)||2019 NAIC Complaint Index (lower is better)|
According to our analysis, USAA scores best, but it is only available to military families. State Farm seems like a good option for most people with a high satisfaction score and relatively low complaint index, while Chubb is known for average JD Power ratings but very low complaint frequencies. Both Erie and Donegal are Pennsylvania-based companies (though they do business nationally) if you’re comfortable with a more local supplier.
There are some additional factors you may want to think about when choosing your policy. For example, is it important to you to have a dedicated agent? Do you want to be able to visit a brick and mortar office? Does the company have agents available via phone at all times in case disaster strikes? You should also look into these factors when checking out quotes.
Compare quotes from top renters insurance companies in Pennsylvania
Renters insurance quotes in Pennsylvania
We highly suggest getting quotes from several companies. Luckily, QuoteWizard makes it easy to do this in one simple step.
However, before getting a quote it is good to know exactly what you are looking for in one. The most important part of recognizing whether a quote is right for you is knowing how much renters insurance you need. This seems simple, but because renters insurance is broken down into four distinct types of coverage, evaluating a quote requires some care and foreknowledge. We are here to help.
Components of renters insurance quotes
A renters insurance quote should contain four separate types of coverage, each with its own limit: (1) personal property, (2) loss of use, (3) personal liability and (4) medical payments to others. Here's what renters insurance covers:
(1) Personal property coverage is the part of your coverage that protects the things you own within your home. It’s really important you make sure this part of your coverage has a high enough coverage limit relative to your belongings. Most personal property coverage guarantees protection from disasters such as earthquakes and smoke damage, but be aware that typical plans do not cover flooding- for that, you’ll need a separate flood insurance policy.
Be careful not to undervalue your belongings. Many people are surprised to find how much their things are worth- and how devastating it would be were they to lose them and their monetary value. While most people fall in the $20,000-$30,000 range in terms of personal possessions, we recommend you make an inventory list of your things before deciding what coverage limit to look for. Your personal property coverage is perhaps the most important part of your renters insurance quote, so it is worth being sure you have the right amount spoken for.
(2) Loss of use coverages helps pay for additional living expenses if your home becomes unlivable for any reason. Thousands of Americans are forced out of their homes every year due to disasters such as fires, floods, and earthquakes. Those forced out of their homes of course need places to live and stay while things are repaired back home, and not everyone has family in the immediate area to rely on for temporary housing. Hotel room costs add up quickly, so loss of use coverage is there to aid in covering some of or all of those costs. Most plans offer about $3,000-$5,000 for loss of use coverage.
(3) Personal liability coverage protects you from lawsuits related to damage or injury you cause to someone’s property or health. Personal liability claims may include medical bills, legal fees, and more, costs that can be impossible to cover for the average person out-of-pocket. There are some things that the personal liability section of your policy does not cover, including injuries sustained by you or family members in your home, and business activities or claims related to your profession. Personal liability coverage limits are often quite high due to the types of things covered, with many policies offering up to $100,000 in coverage for personal liability.
(4) Medical payments to others coverage is there to protect guests (and you) injured within your own home. If, for example, you are having a dinner party and a guest trips on a hidden sprinkler head and breaks their ankle, medical costs are going to pile up. They may need an ambulance, extensive care, or even surgery, and there is potential for disagreement over who should pay those costs. Renters insurance can step in to help pay them and ensure that both you and guests have peace of mind when gathering at your rental unit.
These coverages and limits are perhaps the most important things to keep in mind when you are comparing renters insurance quotes. A good rule of thumb for all aspects of renters insurance coverage- if a quote does not provide sufficient coverage for your needs, it does not matter how cheap it is.
Pennsylvania renters insurance laws
Similar to most other states, Pennsylvania doesn’t require tenants to have renters insurance. However, there is no law that says your landlord can’t force you to have it. Thus, it is best to communicate with your landlord before signing your lease about their policies regarding renters insurance. Keep in mind that he or she may reply that they have renters insurance, but that does not necessarily mean you and your possessions are covered. Your landlord may have a policy that protects the building and it’s appliances, but there’s a good chance you remain completely uncovered. Most of the time, you will need your own policy apart from your landlords.
In instances where your landlord requires renters insurance, they are considered an “interested party” and will be notified of your coverage. If you live with roommates, you can technically share a renters insurance policy. However, it's generally not a good idea to share renters insurance with a roommate. Everyone in the house will likely need their own renters insurance policy, unless they are family members.
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