Home Home insurance Average home insurance cost New York Philadelphia, NY How much is Homeowners Insurance in Philadelphia, NY By Insure.com's Editor | Updated on November 7, 2023 Why you should trust Insure.com Quality Verified At Insure.com, we are committed to providing honest and reliable information so that you can make the best financial decisions for you and your family. All of our content is written and reviewed by industry professionals and insurance experts. We maintain strict editorial independence from insurance companies to maintain editorial integrity, so our recommendations are unbiased and are based on a comprehensive list of criteria. The average cost of homeowners insurance in Philadelphia is $1,522 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $895 less than the national average of $2,417.However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Philadelphia depend on a number of factors, including: Size of your homeAge of your homeAmount of coverage you needLocationYour credit scoreTo make sure you are getting the best deal on home insurance, it is important to get quotes from multiple insurers to find the right coverage for your needs. Read this guide to know how much homeowners insurance cost per month in Philadelphia, home insurance cost for different dwelling coverage, also know which companies offer cheap home insurance in Philadelphia.In this guide, we will explain everything from what coverage options are available to which companies have the cheapest rates for homeowners insurance in Philadelphia. Key takeaways The average cost of homeowners insurance in Philadelphia is $1,522 per year.American Family is the cheapest homeowners insurance company in Philadelphia with an average annual premium of $823.If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $388 more a year for home insurance. How much is homeowners insurance in Philadelphia per monthPhiladelphia homeowners pay an average of $127 a month, based on our rate analysis. It’s $17 less than the state average of $144 and $74 less than the national average for home insurance across the United States. The price of your homeowners insurance policy in Philadelphia may vary depending on where you live, the value of your home, and the coverage you choose.How much is homeowners insurance for a $200,000 house in PhiladelphiaThe average cost of homeowners insurance in Philadelphia, NY is $1,134 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The amount you pay for home insurance each year depends on many different things. The types of natural disasters or events that take place in your area affect how much you pay for coverage in your city.Some areas are more at risk for natural disasters, like flood, hurricanes, or tornadoes. This means that if something happens, the cost of rebuilding would be higher in those areas, thereby leading to higher insurance premiums. Your insurance policy might not cover damage caused by floods or hurricanes. So, if you live in a flood-prone area, consider buying flood insurance coverage.How much is homeowners insurance for a $300,000 house in PhiladelphiaAccording to a rate analysis by Insure.com, homeowners in Philadelphia pay an average of $1,522 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible. If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $388 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.How much is homeowners insurance in Philadelphia by CompanyAmong the carriers analyzed, American Family is the cheapest homeowners insurance company in Philadelphia. Its average annual rate for Philadelphia homeowners is $823. NYCM Insurance ranks second and Nationwide makes it to the third spot with an average annual home insurance rate of $995.Before choosing a homeowners insurance policy, it is important to do some research on the company. Our experts have analyzed all the insurance companies across Philadelphia and prepared a list of the top ten cheapest home insurance providers. You can find below the Philadelphia home insurance companies and their average annual premium.Home Insurance CompanyAnnual rateAmerican Family$823NYCM Insurance$877Nationwide$995State Farm$1,206Travelers$1,289AIG$1,369Heritage Insurance Holdings$1,469Chubb Ltd$1,608Allstate$1,786Farmers$2,777MethodologyInsure.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 $1000 deductible. The data presented are those with a good credit tier alignment. How much is home insurance in other citiesAppletonAtlantaBloomingtonDenverHamiltonMemphisNew YorkPhoenixStafford In case you missed it What is HO-6 insurance? Average home insurance cost in 2023 What is dwelling coverage and how much do you need? 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By Shivani Gite How to switch home insurance By Shivani Gite Is carpenter ant damage covered by homeowners insurance? By Ashlee Tilford On this page How much is homeowners insurance in Philadelphia per monthHow much is homeowners insurance for a $200,000 house in PhiladelphiaHow much is homeowners insurance for a $300,000 house in PhiladelphiaHow much is homeowners insurance in Philadelphia by CompanyMethodology Get instant quotes now ! Please enter valid zip Get Quotes