Average car insurance cost in Philadelphia, PA

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The average car insurance cost in Philadelphia, Pennsylvania is $2,638 per year, according to Insure.com data. This is $1193 more than the average auto insurance cost in Pennsylvania and $956 more than the national average.

The rates can vary wildly depending on where they are filed. City demographics, including population density and average resident age, will affect how much money you spend on premiums, making it cheaper or more expensive than other areas with different factors like accident rates, theft, and vandalism rates.

Read on to learn more about the cheapest car insurance providers in Philadelphia, the average car insurance rates by age and gender, and how much car insurance is in Philadelphia based on coverage limits.

Cheap car insurance companies in Philadelphia

Travelers offers the cheapest car insurance in Philadelphia at an average of $1,743 per year with full coverage limits of 100/300/100.

The second cheapest company in Philadelphia is Nationwide, offering car insurance rates at $1,844 per year.

Car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in Philadelphia.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Philadelphia, Pennsylvania:

Read about the best car insurance companies.

Average car insurance cost in Philadelphia by coverage limits

In Philadelphia, the average car insurance rates based on coverage types are as follows:

• State minimum coverage: $790 per year (limits are 25/50/25)
• Liability only coverage: $1,108 per year (limits are 50/100/50)
• Full coverage: $2,638 per year (limits are 100/300/100)
• Non-owners coverage: $694 per year

In most states, drivers must have the state minimum coverage to drive legally, but these vary by state. However, state minimum coverage does not cover any vehicles listed on your policy in an at-fault accident.

To avoid compromising on coverage and paying out-of-pocket expenses, it is better to have full coverage or non-owner coverage if you don’t own a car but borrow or rent one frequently.

Average car insurance rates by gender in Philadelphia

The average car insurance rate for a female driver in Philadelphia, Pennsylvania, is $2,638 per year.

The rate for a male driver is $2,638 per year, which is same as what female drivers pay, according to a rate analysis by Insure.com.

Women are considered to be safer drivers than men, according to the Insurance Information Institute. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Philadelphia

In Philadelphia, car insurance rates are the highest for teens, at $10,732 per year or $894 per month. The rates are higher for teenagers (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road, according to the Insurance Information Institute. Teen insurance rates can be lowered by adding teens to a parent’s auto insurance policy.

Car insurance rates will decrease as teens age and earn a good driving record. Young adults pay $4,674 per year for their car insurance, which is $6058 less than what the teens pay for their insurance policy.

The car insurance rates in Philadelphia for adult and senior drivers are $2,704 and $2,554 per year respectively.

The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below shows the average annual rates for drivers of different age groups:

Car insurance rate trends in Philadelphia

If we look at the car insurance rate trends in Philadelphia, Pennsylvania, it was on an upward swing from 2016 to 2019. From 2019 to 2022, the rates decreased overall by 16%, or $491.

The table below shows the trend for three years:

Conclusion

In conclusion, the insurance rates in Philadelphia, are higher than the average insurance cost in Pennsylvania. By shopping around and taking advantage of available discounts, drivers in Philadelphia can find affordable car insurance options. Additionally, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed June 2022.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed June 2022.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed June 2022.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 56,838,240 insurance quotes from 136 insurance companies across 34,523 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $100,000 property damage liability
• $500 collision/comprehensive deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.