Key Takeaways
- The cheapest homeowners insurance in Philadelphia comes from Penn National, which charges $1,396 a year, on average.
- Philadelphia homeowners pay $1,846 a year for home insurance, on average — around $750 more than the typical rates across Pennsylvania.
- Allstate is another cheap home insurance option, offering premiums of $1,422 a year.
In this article
Average home insurance rates in Philadelphia
The average home insurance rate in Philadelphia is $1,846 a year, or $154 a month.
That’s quite a bit more than the average cost statewide. Overall, Pennsylvanians pay a mean rate of $1,128 a year, or $94 a month.
Home insurance rates can differ from city to city, as a variety of factors can play a role in your yearly premium, including:
- The age, location and construction style of your home
- The cost it would take to rebuild your home
- Your personal insurance history
Of course, your policy costs can also change based on the deductible amount you select. Generally, a lower home insurance deductible means a higher annual premium.
| Deductible | Annual premium |
|---|---|
| $500 | $1,997 |
| $1,000 | $1,846 |
| $1,500 | $1,736 |
| $2,000 | $1,597 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Your dwelling coverage — the insurance that protects the actual, physical structure of your home — also plays a role in determining your rates. This chart shows how rates in Philadelphia can change based on how much dwelling coverage you need:
| Dwelling coverage amount | Annual premium |
|---|---|
| $200,000 | $1,483 |
| $275,000 | $1,846 |
| $350,000 | $2,231 |
| $425,000 | $2,661 |
| $500,000 | $3,124 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Philadelphia
Penn National is the cheapest home insurance company in Philadelphia, charging an average annual premium of $1,396.
Conversely, Farmers is the most expensive provider, with an average cost of $3,158. That’s over $1,300 more than the citywide mean.
| Insurance company | Annual premium |
|---|---|
| Penn National | $1,396 |
| Allstate | $1,422 |
| Erie | $1,521 |
| State Farm | $1,559 |
| Average | $1,846 |
| Nationwide | $2,207 |
| Travelers | $2,268 |
| Farmers | $3,158 |
| USAA* | $1,239 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. *Only available to current/former military and their families. | |
Penn National may be the cheapest home insurance company for you, or it may be another insurer. The best way to find out which has the cheapest rates for the coverage you need: compare home insurance quotes from several companies.
Philadelphia's best home insurance companies
Based on our research, Penn National and Allstate are the best home insurance companies in Philadelphia. Here’s why:
Best rates: Penn National
On average, Penn National has the most affordable rates for Philadelphia homeowners. The provider charges $1,396 a year — 24% less than the citywide average.
Penn National also features some of the highest customer satisfaction rates, placing third-best among Philadelphia providers in the latest NAIC Complaint Index ratings. And, like many leading insurance companies, Penn National offers a bundling discount to policyholders who get both their home and auto insurance from it.
Best discounts: Allstate
Allstate is the second-cheapest home insurance option on our list, while also offering a plethora of convenient and money-saving discounts to homeowners. Examples include:
- Multi-policy discount: Up to 25% off for customers who also use Allstate for auto insurance.
- Responsible payment discount: Savings for homeowners who pay their bills safely and on time.
- Claim-free discount: Up to 20% off for customers without a recent insurance claim.
See how much you can save on home insurance
Customer service ratings for Philadelphia home insurance companies
In Philadelphia, State Farm is the top-ranked provider in J.D. Power’s 2022 satisfaction score rankings.
J.D. Power’s customer satisfaction scores are based on customer surveys that rate home insurers on interaction, policy offerings, price, billing process, policy information and claims. Higher scores are better than lower ones.
State Farm has a satisfaction score of 829 while Farmers, the lowest-rated in the city, has a score of 792.
| Insurance company | Overall satisfaction score |
|---|---|
| Farmers | 792 |
| Travelers | 794 |
| Allstate | 815 |
| Nationwide | 816 |
| Erie | 827 |
| State Farm | 829 |
| USAA* | 884 |
| Penn National | Not included |
| Source: J.D. Power 2022 U.S. Home Insurance Study. *Brand is not rank eligible because it does not meet study award criteria. | |
Meanwhile, Nationwide leads the way in satisfaction when measured by the NAIC’s Complaint Index rating.
The NAIC Complaint Index compares insurance companies by confirmed complaints. A company with a 2.0 Complaint Index rating has twice as many confirmed complaints as expected for its size. A 0.5 rating reflects half as many as expected.
Nationwide tops the list with a rating of 0.14, while Travelers comes in second with a rating of 0.17.
| Insurance company | Complaint Index rating |
|---|---|
| Nationwide | 0.14 |
| Travelers | 0.17 |
| Penn National | 0.19 |
| Erie | 0.26 |
| USAA | 0.31 |
| Allstate | 0.33 |
| State Farm | 0.35 |
| Farmers | 0.61 |
| Source: National Association of Insurance Commissioners (2022 data) | |
Frequently asked questions
The average Philadelphian pays $1,846 a year for home insurance. That breaks down to $154 a month.
Penn National is the cheapest home insurance provider in Philadelphia, charging $1,396 a year. Allstate and Erie follow with the next-best rates.
Homeowners insurance is not a requirement in Philadelphia, although most banks and lenders require it. If you have a mortgage, it’s likely you’ll need a policy.
Methodology
We collected quotes from every ZIP code in Philadelphia, Pennsylvania, for a standard HO-3 homeowners insurance policy using the following coverages:
- $275,000 dwelling (unless otherwise noted)
- $27,500 other structures
- $137,500 personal property
- $55,000 loss of use
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible (unless otherwise noted)
Home insurance by city
- Philadelphia
QuoteWizard.com LLC has made every effort to ensure that the information on this site is correct, but we cannot guarantee that it is free of inaccuracies, errors, or omissions. All content and services provided on or through this site are provided "as is" and "as available" for use. QuoteWizard.com LLC makes no representations or warranties of any kind, express or implied, as to the operation of this site or to the information, content, materials, or products included on this site. You expressly agree that your use of this site is at your sole risk.