Find the Best Homeowners Insurance Rates & Companies in Pennsylvania
The cost of homeowners insurance in Pennsylvania averages $931 annually. Pennsylvania's home insurance rates are considerably more affordable than the current US average of $1,211 per year. Residents in Pennsylvania save a lot of money on their home coverage when compared to most other US states.
This year, average home, condo, and townhouse prices in Pennsylvania are expected to reach about $464,000. Putting so much money towards your home leaves you vulnerable to huge financial losses if it's not properly protected. Without home insurance, homeowners could have to pay out of pocket for damage or destruction caused by a number of disasters like fires.
Fortunately, an independent insurance agent in Pennsylvania can get you set up with the right kind of home insurance ASAP. But up first, let's break down home insurance requirements and more in Pennsylvania.
Best Homeowners Insurance Companies in Pennsylvania
When shopping for home insurance, skip ahead to the very best options available. To make the process easier, we've gone ahead and created a list of just a few of the best home insurance companies in Pennsylvania. Here's a handful of our top-rated carriers.
- Nationwide: Founded in 1926, Nationwide is nearly a century strong in the industry. Nationwide provides home insurance products along with tons of other personal and business coverages. The insurance company has highly customizable policies and an "A+" rating for financial strength from AM Best.
- Progressive: Founded in 1937, Progressive also sells home insurance along with tons of other products. Progressive has an excellent rating from AM Best and offers 24/7/365 customer service and many discount options.
- Travelers: Founded in 1864, Travelers too sells home insurance and many other coverages. The carrier has the highest possible financial strength rating of "A++" from AM Best and has a reputation for providing top-notch customer service.
- The Hanover: Founded in 1852, The Hanover also sells home insurance and tons of other products. The insurance company has an "A" rating from AM Best and offers coverage through a large network of independent insurance agents.
A Pennsylvania independent insurance agent can help you browse affordable home insurance options from these top-rated carriers.
What Can Homeowners Insurance in Pennsylvania Cover?
The most common natural disasters in Pennsylvania include floods, severe storms, winter storms, and tropical storms. Having coverage for your home against all these disasters is critical to prevent out-of-pocket losses. Working with a Pennsylvania independent insurance agent is a great way to get set up with a home insurance policy that protects your home against all common disasters in your area. However, keep in mind that home insurance doesn't ever cover natural flood damage, even from severe weather.
Tropical Storms, Severe Storms, and Winter Storms
Since tropical storms, severe storms, and winter storms happen frequently in Pennsylvania, you'll need to ensure that your home is protected. Home insurance can reimburse for damage or destruction to your home's structure or your personal belongings caused by wind damage, snow and ice damage, lightning strikes, and more. So a regular home insurance policy can reimburse you for many of Pennsylvania's most common disasters.
Flood Damage in Pennsylvania
However, your home insurance policy won't reimburse you for losses caused by natural flood damage to your property, such as after a rainstorm in Pennsylvania. So, you'll need to add a flood insurance policy to protect your property against natural water damage. Though it's not required by law, having flood insurance can help you save potentially thousands of dollars after a single disaster that causes extensive property damage.
The basic coverages included in a Pennsylvania home insurance policy are:
- Dwelling: Reimburses you for losses after your home's structure gets vandalized or damaged/destroyed by a covered disaster.
- Loss of use: Reimburses you for certain extra costs like hotel rooms if you're forced to live somewhere else while your home gets repaired after a covered disaster.
- Personal liability: Reimburses you for legal costs if you get sued by a neighbor, guest, or another third party for claims of bodily injury or property damage.
- Personal property: Reimburses you for losses after your personal belongings, like furniture, clothing, silverware, etc., get stolen or damaged/destroyed by a covered disaster.
A Pennsylvania independent insurance agent can help you find a home insurance policy that gets the job done right.
What Won't Homeowners Insurance in Pennsylvania Cover?
In addition to natural flood damage, there are still other disasters that are not covered by Pennsylvania home insurance. Earthquake damage is also not covered by standard home insurance, however, earthquakes are luckily not a common concern in Pennsylvania. But there are other common disasters not covered by home insurance that you need to be aware of, like:
- Normal property wear and tear
- Incidents involving your personal vehicles
- Home-based business losses (unless you added an endorsement)
- Insect or pest infestation of the home
- Sewer backup or breakage damage
- Home upkeep costs
Flood and sewer backup damage in Pennsylvania
Another type of flooding not covered by home insurance is that caused by sewer backups or breaks. To get coverage against this messy disaster, consider adding a sewer backup endorsement to your home insurance policy. A Pennsylvania independent insurance agent can help you.
Average Cost of Homeowners Insurance in Pennsylvania
Residents of Pennsylvania save a good bit of money on their home insurance, which costs an average of $931 annually. Overall, Pennsylvania ranks as having the 40th highest rates for home insurance in the entire country. With current US home insurance prices averaging about $1,211 annually, expect to save quite a bit on your home insurance policy in Pennsylvania compared to many of your neighbors.
Average Pennsylvania Home Insurance Costs by City
Home insurance prices also vary by city. Factors including local property values and crime rates, as well as the city's vulnerability to storms and severe weather, can impact home insurance rates in each area. In Pennsylvania, home insurance in Oil City averages just $526 per year, which is the lowest for the state. However, in Malvern, home insurance averages $1,734 per year, which is the highest rate in Pennsylvania.