Philadelphia, PA Homeowners Insurance

Experts break down home insurance costs, coverages, companies, and more.

Written by Meg Stefanac
Written by Meg Stefanac

Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to

Beautiful beige siding house with stoned base. Find Philadelphia homeowners insurance.

Home to more than 1.5 million people. Philadelphia is the most populated city in Pennsylvania. With its rich history and vibrant cultural scene, this city is a great place to call home. If you are fortunate enough to own a house in the City of Brotherly Love, you can benefit from having homeowners insurance.

A local independent agent can help you find an ideal policy. These agents are free to work with some of the best insurance companies in Pennsylvania to find you a reliable policy at a competitive price. Contact an independent insurance agent near you to start comparing customized home insurance quotes.

How Much Does Homeowners Insurance Cost in Philadelphia, PA?

Home insurance rates in the state of Pennsylvania are lower than the national average. Comparison shopping lets you be certain that you are getting your coverage at a reasonable price.

  • National average yearly premium: $1,211
  • Pennsylvania average yearly premium: $931
  • Philadelphia average yearly premium: $896

Actual rates can differ greatly from one Philadelphia homeowner to the next. This is because actual home insurance costs are based on several factors such as: 

  • The type of home you are insuring (e.g., single-family detached, multi-family home, townhouse, condo, rental property, etc.)
  • The size of your home, the year it was built, the materials used in its construction, and the age of your roof
  • The crime rate and weather risks where your house is located
  • Your claims history and credit score
  • Whether you are bundling your homeowners coverage with another policy like car insurance or life insurance

Every insurance company has its own way of calculating rates. Reviewing a variety of customized quotes lets you choose the homeowners insurance policy that offers the coverage you want at the most affordable price. 

What Kinds of Hazards Does Homeowners Insurance Cover against in Philadelphia?

Your home insurance policy is designed to cover against most of the damaging risks you are likely to face as a homeowner in Philadelphia. This includes coverage against hazards like:

  • Property crimes: Including burglary, theft, and vandalism
  • Fires: Including damage caused by flames, smoke, and firefighting efforts
  • Severe weather: Including hail, lightning, windstorms, snowstorms, heavy snows, and ice accumulation

You will want to be sure you have sufficient dwelling coverage to enable you to repair or rebuild your house, and enough contents coverage to fully repair or replace all of your personal property. That way, if your home is destroyed in a catastrophic event like a fire, you will not suffer financially.

What about Coverage against Flood Damage in Philadelphia?

Although your homeowners insurance is pretty comprehensive, it does not provide coverage against floods.

According to FEMA, just one inch of water in your home can cause as much as $25,000 in property damage, so lack of flood coverage can prove quite problematic.

Fortunately, only about 6% of properties in Philadelphia are at risk for sustaining significant flood damage in the next 30 years. If your home happens to be one of them, you can supplement your homeowners insurance with a flood insurance policy.

When you purchase a policy through the National Flood Insurance Program (NFIP), you can affordably get up to $250,000 in structural coverage and $100,000 in contents coverage for your home. Flood insurance takes 30 days to go into effect, so don't wait until heavy rains are on the way to buy a policy.


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Why Do Philadelphia Homeowners Need Loss of Use Insurance?

Disasters sometimes happen. If a storm causes an uprooted tree to fall on your house, or if a kitchen fire gets out of control, the damage to your home can render it uninhabitable until repairs are made. In this case, loss of use insurance, which is included in every homeowners insurance policy, can help.

Loss of use insurance is designed to provide coverage if you need to seek alternate accommodations due to damage to your home caused by a covered event. It can provide you with:

  • Reimbursement for hotel or temporary rental home costs
  • A meal allowance if your accommodations do not include a kitchen
  • Mileage reimbursement if you must drive further to get to and from work
  • Moving costs and temporary storage fees
  • Pet boarding, if needed
  • Other miscellaneous expenses

Your loss of use coverage can continue until your house has been brought back to code and it is safe to move back in, or until you have built or purchased a new permanent home.

How Does Liability Insurance Protect Philadelphia Homeowners?

Anyone can have an accident or make an error in judgement that causes harm to someone else. Fortunately, in addition to covering your house and property, your homeowners insurance provides you with personal liability protection.

Homeowners liability insurance can cover expenses like court costs, legal fees, settlements, judgements, and other related expenses if you or someone in your household unintentionally cause someone else to experience an injury, property damage, financial loss, or other harm.

Examples of times you may need to rely on this coverage include:

  • A guest is severely injured in an accident on your property and it can be attributed to negligence on your part
  • Your dog gets loose and bites a delivery person
  • Your child accidentally destroys your neighbor’s picture window while playing baseball in your back yard
  • You are accused of libel or slander

Most home insurance policies offer between $250,000 and $500,000 in liability protection. If you want more coverage than your home insurance can provide, you can also purchase an umbrella insurance policy. This is an affordable way to significantly boost all of your personal liability coverage.

What Is the Burglary Rate in Philadelphia, PA?

The burglary rate in Pennsylvania is lower than the national rate; but, in Philadelphia, the rate is higher. Residents in this city report more than 6,500 burglaries in a typical year.

  • Number of burglaries per 1,000 homes in the US: 3.76
  • Number of burglaries per 1,000 homes in Pennsylvania: 2.12
  • Number of burglaries per 1,000 homes in Philadelphia: 4.09

If you discover that your house has been burglarized, the first thing you should do is make sure that you and your family are safe. Then, once your safety is assured, call the authorities.

While being the victim of a property crime can be stressful, it may give you peace of mind to know that your homeowners insurance can reimburse you for your lost property as well as for any associated damage to your home. You will need a copy of the police report when you file your claim.

If you have a burglar alarm, security system, surveillance cameras, or other home security devices, you may qualify for discounts on your homeowners insurance coverage. Be sure to ask about this possibility when requesting quotes.

An Independent Agent in Philadelphia Can Help You Find the Best Homeowners Insurance

Independent insurance agents make it easy to find an ideal homeowners policy to cover your Philadelphia home. These agents can save you time and money by doing the comparison shopping for you. That way, you can rest assured that you are getting the coverage you want at the most competitive price.

Arrange an obligation-free consultation with an independent insurance agent near you to learn more and to start comparing customized quotes from some of the best homeowners insurance companies in Philadelphia, PA.

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