Best Philadelphia Homeowners Insurance Quotes (2024)

Allstate offers some of the cheapest homeowners insurance policies in Philadelphia, with annual premiums starting at $1,004.

Danny Smith
Written byDanny Smith
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Danny Smith
  • Licensed auto and home insurance agent

  • 4+ years in content creation and marketing

As Insurify’s home and pet insurance editor, Danny also specializes in auto insurance. His goal is to help consumers navigate the complex world of insurance buying.

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Katie Powers
Edited byKatie Powers
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Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

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Updated August 7, 2024

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The average annual home insurance rate in Philadelphia is $2,034 for a policy with a $1,000 deductible and $300,000 in dwelling coverage — cheaper than the national average of $2,377 but higher than the Pennsylvania state average of $1,306.

Philadelphia homeowners likely pay higher rates than elsewhere in Pennsylvania because cities have higher crime risks than less-populated areas. Philadelphia also has a risk of flooding in some areas, like Eastwick and South Philadelphia. Insurers consider these risks when determining premiums, but you can still find cheap coverage.

You should compare home insurance quotes before buying a policy. Here’s what else you should know about home insurance in Philadelphia.

Quick Facts
  • Allstate, Westfield, and Cumberland Mutual have the cheapest average home insurance in Philadelphia.

  • Philadelphia homeowners pay more for home insurance on average than other Pennsylvania cities, including Erie, Pittsburgh, and York.

  • You may want flood insurance if your neighborhood has a higher flood risk. Standard home insurance doesn’t cover floods, so you’ll need a policy from a private insurer or the National Flood Insurance Program.[1]

Best home insurance companies in Philadelphia

In the Philadelphia area, homeowners have plenty of good home insurance companies to choose from, but the best company won’t be the same for everybody. Every insurer sets premiums differently because insurance companies consider rating factors uniquely. The right insurance company for you depends on your home insurance coverage needs and claims history. 

Start your search for quality coverage at an affordable price below, with four of the best home insurance companies in Philadelphia. The average annual premiums provided reflect the cost of a policy with $300,000 in dwelling coverage and a $1,000 deductible.

Insurance Company
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Average Annual Premium
Best For
Allstate4.1$1,004Cheapest rates
WestfieldN/A$1,021High-value homes
Cumberland MutualN/A$1,133Customer service
USAA4.0$1,631Veterans and active military
  • Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Cheapest rates: Allstate

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IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.9/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
833
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$84/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$105/mo

Allstate is the cheapest home insurance company in Philadelphia, with an average annual premium well below the city and state average cost of coverage. It has an AM Best financial strength rating of A+ (Superior), making it a dependable option for homeowners concerned about payouts after covered damages.

Pros
  • Several available discounts and coverage options

  • Cheapest rates in Philadelphia

Cons
  • Limited coverage in certain high-risk areas

  • Low Trustpilot score

Best insurer for high-value homes: Westfield

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
NR
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$75/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$96/mo

Westfield is the best insurance for homeowners looking to insure luxury and high-value homes. The company’s Wespak Estate and Estatepak coverages have specific options designed for high-value homes, making it easier to secure specialized coverage than with a traditional insurer.

Pros
  • Added benefits for bundling home and auto

  • Fewer complaints than average, according to the National Association of Insurance Commissioners (NAIC) complaint index

Cons
  • Fewer endorsements and insurance products than other insurers

  • Quotes not available online

Best insurer for customer service: Cumberland Mutual

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IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
NR
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
Not rated

Cumberland Mutual is the most regional of the home insurance companies on this list, serving only four states. Its smaller size allows it to provide excellent customer service to its clients. It has far fewer complaints than average on the NAIC Complaint Index.

Pros
  • AM Best financial strength rating of A- (Excellent)

  • Affordable rates

Cons
  • Limited number of discounts and coverage options

  • Quotes not available online

Best insurer for veterans, active military, and their families: USAA

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.4/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
880
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$136/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$187/mo

USAA is the best home insurance company for the nearly 70,000 veterans in Philadelphia — as well as for active military members and their families. USAA has some of the cheapest average premiums in Philadelphia, and homeowners can access exclusive benefits for being a USAA member.

Pros
  • Numerous available add-on coverages and exclusive benefits for members

  • High J.D. Power customer satisfaction rating[2]

Cons
  • Only available to active military, veterans, and their families

  • Fewer discounts than some competitors

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Cheapest home insurance in Philadelphia

Allstate has the cheapest home insurance in Philadelphia, with an average rate of only $84 per month and $1,004 per year.

Check out the table below to compare premiums from the cheapest home insurance companies in Philadelphia. The average premiums below reflect costs for a $300,000 dwelling policy with a $1,000 deductible.

Insurance Company
Average Annual Premium
Allstate$1,004
Westfield$1,021
Cumberland Mutual$1,133
American National P&C$1,202
USAA$1,631
Pure Companies Group$1,853
ASI$1,925
State Farm$2,007
Erie$2,022
Donegal Mutual Insurance$2,030
Chubb$2,159
Farmers$2,209
Penn National$2,230
Nationwide$2,288
Encompass$2,326

Cost of homeowners insurance in Philadelphia

The average cost of homeowners insurance in Philadelphia is $2,120 per year for a $500 deductible policy with dwelling coverage of $300,000 — a policy with a $1,000 deductible costs $2,034. Your exact rate depends on your location within the city, how much coverage you buy, and the company you choose. The higher the coverage limits, the more expensive your rate will be.

Other factors that will likely affect your rate include the size of your home, its age, local building costs, your deductible, and even your credit history. It’s essential to compare home insurance quotes from multiple insurance companies before buying a policy.

Cost of homeowners insurance by dwelling coverage amount

The factor that most significantly affects how much you pay for home insurance is your dwelling coverage amount. It’s the most crucial part of your home insurance policy — it pays for personal property damage after a covered loss. But the higher your dwelling coverage limits, the more expensive your premium will be.

Check out the table below to see just how much your average annual premium can increase when you select higher dwelling coverage limits for your house. The premiums below are for home insurance policies in Pennsylvania with a $1,000 deductible.

Coverage Limit
Average Annual Premium
$100,000$631
$200,000$968
$300,000$1,306
$400,000$1,636
$500,000$1,998

Cost of homeowners insurance by deductible

Your homeowners insurance deductible is how much you’ll need to pay out of pocket for a claim before your home insurance coverage kicks in. Home insurance deductibles are usually between $500 and $2,000. Your deductible also affects your premium; the lower your deductible is, the more expensive your premium will be.

Check out the table below to see how your premium can vary based on your deductible. Premiums are for a policy with $300,000 in dwelling coverage in Pennsylvania.

Deductible Amount
Average Annual Premium
$500$1,361
$1,000$1,306

How to get cheap homeowners insurance in Philadelphia

You can try a few tips to find cheap homeowners insurance in Philadelphia, including:

  • illustration card https://a.storyblok.com/f/162273/x/fa11c1fe75/comparison-website.svg

    Compare home insurance quotes

    Comparing home insurance quotes from multiple insurance companies is the best way to save money on your policy. Each insurer considers rating factors differently, so you should get quotes from at least three companies to find the best option.

  • illustration card https://a.storyblok.com/f/162273/150x150/42a396bd18/credit-and-loan-96x96-green_033-discount.svg

    Apply for discounts

    Discounts are a good way to save money on your policy. Almost every insurance company offers numerous home insurance discounts — you just have to ask. Bundling your auto insurance policy with your home insurance policy is a common discount that can save you a percentage on your coverage.

  • illustration card https://a.storyblok.com/f/162273/150x150/f93e5c7ccc/banking-96x96-orange_017-coins.svg

    Increase your deductible

    Increasing your home insurance deductible will automatically lower your premiums, but you’ll have to pay more out of pocket if you file a claim. Just make sure you can afford to pay a higher deductible before increasing it.

Pennsylvania homeowners insurance rates by city

Home insurance prices vary by city and even by ZIP code because different areas around town have different risks. For example, certain parts of the city may experience higher rates of vandalism, theft, or break-ins that lead to higher insurance premiums. And if you live close to a fire station, you may pay lower premiums.

Philadelphia is a major city, so naturally, it has higher rates than the state average due to more potential claims risks. Home insurance companies consider this, along with various other factors, when setting rates.

Check out the table below to see how home insurance premiums vary across cities in Pennsylvania for a policy with $300,000 in dwelling coverage and a $1,000 deductible.

City
Average Annual Premium
Erie$1,212
Lancaster$1,064
Philadelphia$2,034
Pittsburg$1,126
West Chester$1,222
York$1,087

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How much homeowners insurance do you need in Philadelphia?

Though Pennsylvania law doesn’t require you to have any homeowners insurance at all, it’s a good idea to buy it. Home repairs following damage can get expensive quickly for homeowners without help from an insurance company. In most cases, if you have to take out a mortgage on your home, your lender will require you to have home insurance.

When buying a policy, the 80/20 rule is a good guideline to follow. You should get coverage equal to or greater than 80% of your home’s replacement cost. No matter how much dwelling coverage you decide to purchase, it’s important to know what your home insurance policy covers.

What are some of the biggest risks when owning a home in Philadelphia? 

The following natural disasters pose the biggest risks to homes in Philadelphia:

  • illustration card https://a.storyblok.com/f/162273/150x150/0194b78427/weather-96x96-orange_043-flood.svg

    Floods

    Philadelphia isn’t especially prone to flooding, but it does happen more frequently in some areas of the city, including Eastwick and South Philadelphia.[3] Throughout the city, 31% of properties are at risk for flooding, according to Risk Factor.[4] Standard home insurance policies don’t cover flood and water damage. You’ll have to purchase additional coverage from your home insurer or through the National Flood Insurance Program (NFIP) if your home is in a high-risk area.

  • illustration card https://a.storyblok.com/f/162273/150x150/0a25826e6f/weather-96x96-yellow_010-windy.svg

    Windstorms

    Philadelphia regularly experiences windstorms, which include gusts of wind stronger than 34 mph.[5] These storms can cause severe damage to homes. Standard home insurance covers wind damage.

  • illustration card https://a.storyblok.com/f/162273/150x150/d2251ba1fd/weather-96x96-blue_018-tornado.svg

    Tornadoes

    Though not common, Philadelphia has experienced tornadoes. Between 1950 and 2015, the city had only eight tornadoes. Home insurance typically covers tornado damage, but there can be exceptions. Talk to your insurer about what your specific policy covers.

Philadelphia homeowners insurance FAQs

The following information can help answer your remaining questions about finding home insurance in Philadelphia.

  • How much is home insurance in Philadelphia?

    The average annual cost of home insurance in Philadelphia is $2,034 for a policy with $300,000 in dwelling coverage and a $1,000 deductible. How much you pay for home insurance will depend on your coverage limits, deductible, home characteristics, ZIP code, and more.

    Homeowners in some areas of Philadelphia have a higher risk of flooding and can benefit from purchasing a flood insurance policy, which will come with an added premium.

  • Which company has the cheapest homeowners insurance in Philadelphia?

    Allstate has the cheapest homeowners insurance in Philadelphia, with an average annual premium of $1,004 for a policy with $300,000 in dwelling coverage and a $1,000 deductible.

    Westfield and Cumberland Mutual also have affordable coverage, with respective average annual premiums of $1,021 and $1,133.

  • Does Philadelphia require homeowners insurance?

    No. Pennsylvania state law doesn’t require homeowners insurance. But if you have a mortgage, your mortgage company will require you to purchase a minimum amount of homeowners insurance.

    Even if you don’t have to meet lender requirements, you should buy home insurance to protect your home and personal belongings. Without it, you’ll have to pay for expensive home repair costs on your own in the event of damage.

Sources

  1. Insurance Information Institute. "What is covered by standard homeowners insurance?."
  2. J.D. Power. "Home Insurer Exodus from Several States Creates Challenges and Opportunities, J.D. Power Finds."
  3. Flood Risk Management Task Force City of Philadelphia. "A Guide to Flooding in Philadelphia."
  4. Risk Factor. "Philadelphia Flooding Risk."
  5. City of Philadelphia Office of Emergency Management. "Tornado and wind storms."
Danny Smith
Danny Smith

Danny is a Brooklyn-based writer with a producer’s license for property and casualty insurance. A former editor at Insurify, he specializes in auto, home, and pet insurance. He works to translate his insurance expertise into digestible, easy-to-understand content for drivers, homeowners, and pet owners alike.

Katie Powers
Edited byKatie PowersAuto and Life Insurance Editor
Photo of an Insurify author
Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

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