Average homeowners insurance cost in Philadelphia, Pennsylvania

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In Philadelphia, homeowners pay an average annual rate of $2,742 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to our data. This is $238 more than the national average of $2,504 .

Homeowners insurance premiums can vary significantly from one property to another. In Philadelphia, the cost of home insurance is influenced by several factors, including:

Size of your home
Age of your home
Amount of coverage required
Location
Your credit score

Allstate is the cheapest homeowners insurance company in Philadelphia with an average annual premium of $1,408 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in Philadelphia. Keep reading to learn about the monthly cost of homeowners insurance in Philadelphia, the cost for different dwelling coverage levels, and which companies provide the most affordable home insurance in Philadelphia.

Key Takeaways

Homeowners insurance costs $2,742 per year in Philadelphia.
At $1,408 per year, Allstate offers the cheapest homeowners insurance in Philadelphia.
Your home insurance rates increase by $660 more annually if you increase your dwelling coverage from $200,000 to $300,000.

Average homeowners insurance cost per month

How much you pay for a homeowners insurance policy depends on the value of your home, your location, and the coverage options you select.

Homeowners in Philadelphia pay an average of $229 per month. It’s $72 more than the state average of $157 and $20 more than the national average for home insurance across the nation.

Average homeowners insurance cost for a $200,000 house in Philadelphia

The average cost of homeowners insurance in Philadelphia, PA is $2,082 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The cost of your home insurance each year depends on several factors – including the risk of natural disasters in your area. If your city is prone to events like hurricanes, wildfires, or floods, you’ll likely pay more for coverage.

Some places are more prone to natural disasters, like floods, hurricanes, or tornadoes. That makes rebuilding after a major event more expensive, which is why home insurance tends to cost more in those areas. And keep in mind, your standard policy probably doesn’t cover flood or hurricane damage. If you live in a high-risk zone, it’s definitely worth looking into separate flood insurance for extra protection.

Average homeowners insurance cost for a $300,000 house

Homeowners in Philadelphia typically pay an average of $2,742 annually for a home insurance policy with $300,000 in dwelling coverage, $100,000 in liability protection, and a $1,000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, your home insurance rates will rise by $660 . You should purchase enough insurance to cover the entire cost of rebuilding your home. The required amount of dwelling coverage can vary based on factors such as the size of your home, its features, and the cost of living in your area.

Average homeowners insurance cost in Philadelphia by company

Among the carriers we analyzed, Allstate is the most affordable homeowners insurance company in Philadelphia, offering an average annual rate of $1,408 , while State Farm ranks second.

Researching a company thoroughly before selecting a homeowners insurance policy is essential – and we can help with that. We took a close look at all the insurance companies serving Philadelphia and put together a list of the most affordable ones.

Here’s a look at the top home insurance companies in Philadelphia and what you can expect to pay with each one on average.

Home Insurance Company	Annual rate
Allstate	$1,408
State Farm	$1,770
Nationwide	$2,553
Farmers	$2,769
Erie Insurance	$3,163
Travelers	$7,378
USAA*	$1,933

*USAA is only available to military community members and their families.

Many insurance companies offer discounts to customers who bundle their policies. By combining your home insurance policy with other policies, such as auto insurance, you can lower your premiums and simplify your insurance management with one provider.

Natural disasters in Pennsylvania that can impact your home insurance

Living in Pennsylvania comes with the possibility of natural disasters that can cause serious damage to your home and belongings. From costly repairs to large insurance claims, the financial impact can be significant. That’s why it’s important to know which types of disasters are most common in your area before selecting a home insurance policy.

Understanding your local risks allows you to customize your coverage – whether that means adjusting your policy limits, choosing a higher deductible, or adding protection for hazards like floods or earthquakes. Planning ahead helps ensure you’re fully covered when it matters most.

Pennsylvania is commonly affected by Heat wave.

How home insurance protects you against natural disasters

Home insurance is an essential safeguard for your financial well-being, offering protection if you’re affected by a natural disaster. Natural disasters can lead to costly damage, but the right policy can help cover the cost of repairs, sparing you from major out-of-pocket costs. In many cases, home insurance also pays for temporary living expenses if you can’t live in your home.

However, not all natural disasters are covered under a standard home insurance policy. For example, flood and earthquake damage are excluded and require separate coverage. That’s why it’s so important to understand the specific natural disaster risks in your area. By doing so, you can choose a policy that truly protects your home – and your finances – from the threats that are most likely to affect you.

Keep in mind: Standard policies may not cover everything

While homeowners insurance typically protects against common hazards, some natural disasters – like floods and earthquakes – require separate policies. Don’t assume you’re fully covered. Check your policy details and consider endorsements or supplemental coverage if you live in a high-risk area.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Philadelphia for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.