With seasonal temps and pleasant four-season weather throughout the year, homeowners in Philadelphia should have enough home insurance to protect them against severe weather, including winter storms and occasional hurricanes.
The average cost of homeowners insurance in Philadelphia is $1,654 per year or $138 a month. This is around 33% higher than the statewide average of $1,101 per year, and about 6% lower than the national average of $1,754.
However, the cost isn’t the only factor to consider when choosing a home insurance company. Not sure what to look for? Policygenius can help you figure out your coverage needs and compare quotes from multiple top companies in Philadelphia.
Compare the best cheap homeowners insurance companies in Philadelphia
To find the best cheap homeowners insurance in Philadelphia, Policygenius rated over a dozen of the largest insurance companies in Pennsylvania across several categories, such as average policy cost, financial strength ratings with AM Best, customer and claims satisfaction scores with J.D. Power, available policy options, and more.
Of the companies we looked at, Westfield Insurance has the lowest home insurance rates in Philadelphia, with an average annual policy cost of $936 per year — about $100 less than the state average. Cumberland Mutual has the next lowest average rates at $972 per year.
Policygenius analyzed thousands of quotes from the 5 largest Philadelphia insurers to find the average cost of homeowners insurance with each company in 2023. We then looked at 2022 J.D. Power customer satisfaction scores and compared that with the coverage needs of Philadelphia residents to find the best homeowners insurance in Philadelphia.
Company | Average monthly cost | Policygenius rating |
|---|---|---|
$122 | 4.8 out of 5 | |
$116 | 4.5 out of 5 | |
$150 | 4.5 out of 5 | |
$217 | 4.5 out of 5 | |
$83 | 4.4 out of 5 |
2024 Policygenius award winner
State Farm
4.8
Bundle home & auto
Offers extended replacement cost
Offers flood insurance
Offers earthquake insurance
Wind/hail deductible
Offers wildfire insurance
Why we chose it
State Farm is one of the top overall home insurance companies in Philadelphia thanks to its large selection of policy options for most home types, high customer service marks, and industry-best financial stability ratings.
Pros and cons
Pros
High customer satisfaction and financial strength ratings
Top-tier coverage add-ons, including extended replacement cost coverage
Offers large discounts when you bundle your home and auto insurance
Cons
20% more complaints filed with the NAIC than other companies of its size
No discounts for first-time homebuyers
More details
Why State Farm is one of the best overall companies in Philadelphia
We like State Farm's robust coverage options, including extended replacement cost coverage, water backup protection, appliance coverage, inflation guard, and others.
State Farm is also known for its dependable customer service — from shopping and setting up your policy, to making changes to your coverage, to filing a claim.
Plus, while many competitors don't have the financial strength to pay out claims after several natural disasters in the same year, State Farm isn't one of them. It earns the highest rating possible from A.M. Best for financial strength and stability — only six insurance companies out of nearly 70 we reviewed hold this title.
How do State Farm home insurance rates compare to the Philadelphia average?
The average cost of State Farm home insurance in Philadelphia is $1,466 per year, which is a little less than the average annual premium in Philadelphia of $1,654 per year.
How to get a quote
Online through State Farm or by contacting your local State Farm agent.
2024 Policygenius award winner
Erie
4.5
Mobile app
Bundle home & auto
Why we chose it
Erie's wide range of coverage options, industry-best customer service ratings, and affordable rates make it one of the best home insurance options in the country.
Pros and cons
Pros
Cheap rates
Guaranteed replacement cost comes standard on Erie policies
Excellent customer service and claims satisfaction ratings
Cons
Only available in 12 states
Just three available discounts
Can’t get quotes or file claims online
More details
Why we chose Erie
Home insurance policies from Erie come standard with guaranteed replacement cost coverage — which you often have to pay extra for at other companies. A basic policy also covers lost and misplaced items, jewelry, and gift cards to closed businesses.
Erie also offers a range of add-ons that you can purchase, like short-term rental coverage, equipment breakdown coverage, water backup protection, underground service line coverage, and more.
How do Erie home insurance rates compare to the average in Philadelphia?
The average cost of Erie home insurance in Philadelphia is $1,397 per year, which is 15% cheaper than the average annual premium in Philadelphia of $1,654 per year.
How to get a quote
Online through Erie
2024 Policygenius award winner
Farmers
4.5
Offers extended replacement cost
Bundle home & auto
Smart home discounts
Why we chose it
Farmers is one of the best home insurance companies in Philadelphia for combining high claims satisfaction scores with a range of coverage add-ons and discounts.
Pros and cons
Pros
High claims satisfaction score
Receives few complaints from policyholders
Optional extended or guaranteed replacement cost dwelling coverage
Cons
Below-average scores on J.D. Power’s overall customer satisfaction and digital experience surveys
More details
Why we chose Farmers
Farmers earned a high score in J.D. Power’s 2022 claims satisfaction study (though it was below-average on J.D. Power’s overall customer satisfaction and digital experience surveys). Farmers also receives fewer complaints than average, according to the National Association of Insurance Commissioners.
You can add some impressive coverages to a basic Farmers home insurance policy, like guaranteed or extended replacement cost coverage, water backup protection, and a personal articles floater.
Depending on where you live, you could save up to 45% on your auto insurance and up to 34% on your home insurance when you bundle policies with Farmers, according to the company website.
Even more, Farmers has up to 16 additional discounts and money-saving policy perks. For context, Farmers competitors offer an average of around seven discounts total.
How do Farmers home insurance rates compare to the average in Philadelphia?
The average cost of Farmers home insurance in Philadelphia is $1,800 per year, which is just 9% more expensive than the average annual premium of $1,654 per year.
How to get a quote
Online through Farmers
2024 Policygenius award winner
Nationwide
4.5
Bundle home & auto
Mobile app
New homebuyer discount
Offers extended replacement cost
Why we chose it
Nationwide's home insurance features an extensive range of comprehensive coverage and policy options. It also received high marks for claims satisfaction with J.D. Power, which means you can rely on Nationwide when it matters most.
Pros and cons
Pros
Multiple high-quality coverage options
Highly rated for claims satisfaction with J.D. Power
Cons
Below-average customer satisfaction and digital experience ratings
Rates are more expensive than average
More details
Why we chose Nationwide
Nationwide offers a large selection of coverage add-ons. Some of these include guaranteed and extended replacement cost coverage, better roof replacement, new belongings coverage, water backup protection, and equipment breakdown coverage.
Nationwide has also received high ratings from J.D. Power for its claims satisfaction, and it ranks fifth on J.D. Power's Property Claims Satisfaction Study from 2022. The company also receives far fewer complaints than other insurers, according to the National Association of Insurance Commissioners.
How do Nationwide home insurance rates compare to the Philadelphia average?
The average cost of Nationwide home insurance in Philadelphia is $2,600 per year, which is around 36% higher than the annual city average of $1,654.
How to get a quote
Online through Policygenius or Nationwide
2024 Policygenius award winner
Allstate
4.5
Bundle home & auto
Smart home discounts
Why we chose it
Whether you’re looking for basic or comprehensive home insurance coverage, Allstate is a standout option. Airbnb hosts may also like Allstate thanks to HostAdvantage — its affordable short-term rental coverage that can be easily added to any policy.
Pros and cons
Pros
Offers some of the lowest rates in the state
Large list of discounts
A+ credit rating with A.M. Best
Cons
Beginning to pull back coverage in high-risk areas
Customer experience scores with J.D. Power are below the segment average
More details
Why we chose Allstate
Allstate's lower-than-average premiums, high customer satisfaction ratings, and excellent coverage options make it one of the top choices for homeowners insurance in Pennsylvania.
Allstate also offers a few discounts that will be easy for many people to qualify for, like discounts for setting up automatic payments, bundling policies, and signing up for coverage before your current policy expires.
How do Allstate home insurance rates compare to the Philadelphia average?
The average annual cost of an Allstate home insurance policy in Philadelphia is $995 per year, 30% cheaper than the city average of $1,654 per year.
How to get a quote
Online through Policygenius or Allstate, or by contacting a local Allstate agent.
Methodology & why you can trust our rates
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
How much is homeowners insurance in Philadelphia?
The average cost of home insurance in Philadelphia is $1,654 per year, or $138 a month, for a policy with $300,000 in dwelling coverage. This is around 50% cheaper than the average annual cost of $1,101 for homeowners insurance in Pennsylvania, and about 5% cheaper than the national average of $1,754.
Philadelphia home insurance rates by ZIP code
Home insurance rates can vary substantially depending on which ZIP code your home is located in, as homes in certain Philadelphia neighborhoods may be more prone to extreme weather damage or property crime than others. To help you find out how much home insurance costs where you live, we calculated average home insurance rates by ZIP code in Philadelphia.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
19120 | $1,724 | 57% |
19124 | $1,694 | 54% |
19111 | $1,619 | 47% |
19143 | $1,697 | 54% |
19149 | $1,638 | 49% |
19134 | $1,681 | 53% |
19140 | $1,729 | 57% |
19104 | $1,664 | 51% |
19148 | $1,706 | 55% |
19144 | $1,712 | 55% |
Cheapest ZIP codes for home insurance in Philadelphia
With an average home insurance rate of $1,358 per year, the 19113 ZIP code is the most affordable area for home insurance in Philadelphia.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
19113 | $1,358 | 23% |
19118 | $1,530 | 39% |
19109 | $1,592 | 45% |
19110 | $1,592 | 45% |
19106 | $1,597 | 45% |
19107 | $1,598 | 45% |
19115 | $1,605 | 46% |
19127 | $1,605 | 46% |
19102 | $1,609 | 46% |
19152 | $1,612 | 46% |
Most expensive areas for homeowners insurance in Philadelphia
With an average annual premium of $1,772, the 19141 ZIP code is the most expensive ZIP code in Philadelphia for home insurance. If you live one of these ZIP codes, your rates might be among the highest in the city.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
19141 | $1,772 | 61% |
19138 | $1,748 | 59% |
19142 | $1,746 | 59% |
19140 | $1,729 | 57% |
19120 | $1,724 | 57% |
19144 | $1,712 | 55% |
19145 | $1,711 | 55% |
19148 | $1,706 | 55% |
19126 | $1,704 | 55% |
19132 | $1,704 | 55% |
Learn more >> Home insurance rates by ZIP code
Philadelphia home insurance costs by coverage amount
Along with your home's location, your homeowners insurance premiums are primarily based on how much dwelling coverage is in your policy. This is the centerpiece of your home insurance coverage, covering the cost to repair or rebuild your home after a covered disaster.
Here are the average rates for homeowners insurance in Philadelphia by coverage amount.
Dwelling coverage limit | Average annual cost |
|---|---|
$100,000 | $771 |
$200,000 | $1,213 |
$300,000 | $1,654 |
$400,000 | $2,126 |
$500,000 | $2,682 |
Philadelphia home insurance costs by deductible amount
Your home insurance deductible is the amount you’re responsible for paying on each claim before insurance kicks in to help cover the cost of repairing or replacing your property. A higher deductible means lower insurance premiums, but it also means you're responsible for paying more out of pocket when you file a claim.
Here are the average rates for homeowners insurance in Philadelphia by deductible amount.
Deductible | Average annual cost |
|---|---|
$500 | $1,551 |
$1,000 | $1,252 |
$2,000 | $841 |
Cheapest homeowners insurance companies in Philadelphia
Based on our analysis, Westfield, Cumberland Mutual, and Allstate are the three cheapest home insurance companies in Philadelphia, with average premiums citywide ranging from $936 to $995 per year.
Company | Average annual cost |
|---|---|
Westfield Insurance | $936 |
Cumberland Mutual | $972 |
$995 | |
$1,101 | |
$1,397 | |
$1,466 | |
Penn National Insurance | $1,686 |
$1,723 | |
$1,800 | |
Donegal Insurance Group | $1,860 |
$1,919 | |
$2,259 | |
Selective Insurance | $2,439 |
$2,600 |
Cheapest home insurance in Philadelphia if you have poor credit
A bad credit score does more than just cost you a few dollars in late payment fees — it can also make your auto and home insurance rates thousands of dollars higher.
Here are the average rates for homeowners in Philadelphia with poor credit.
Company | Average annual cost |
|---|---|
Cumberland Mutual | $1,582 |
Westfield Insurance | $1,586 |
Donegal Insurance Group | $1,860 |
USAA | $2,032 |
Pure Insurance | $2,073 |
Penn National Insurance | $2,309 |
Selective Insurance | $2,439 |
Nationwide | $2,600 |
State Farm | $2,682 |
Progressive | $3,320 |
Erie | $3,329 |
Farmers | $3,875 |
Allstate | $4,035 |
Chubb | $5,062 |
Cheapest home insurance in Philadelphia if you have an older home
Insurance carriers consider older homes to have a higher risk of damage or loss compared to newer homes since they're constructed with older and more difficult to replace materials. Additionally, certain structural components in older homes, like the roof or plumbing systems, may not be up to code.
Here are the average rates for Philadelphia residents with older homes.
Company | Average annual cost |
|---|---|
Westfield Insurance | $951 |
Cumberland Mutual | $972 |
Allstate | $984 |
USAA | $1,148 |
Erie | $1,424 |
State Farm | $1,466 |
Penn National Insurance | $1,716 |
Pure Insurance | $1,723 |
Farmers | $1,739 |
Chubb | $1,919 |
Donegal Insurance Group | $2,040 |
Progressive | $2,280 |
Nationwide | $2,600 |
Selective Insurance | $2,614 |
Cheapest homeowners insurance in Philadelphia if you have a history of claims
Claims history is one of the biggest factors that insurance companies use when calculating your home insurance premiums. If you have multiple claims on your record, your insurer will likely view you as a risk for filing future claims and may charge you higher rates as a result. Here are the average rates for homeowners in Philadelphia with multiple claims.
Company | Average annual cost |
|---|---|
Westfield Insurance | $1,158 |
USAA | $1,556 |
State Farm | $1,672 |
Cumberland Mutual | $1,751 |
Allstate | $1,927 |
Farmers | $2,531 |
Pure Insurance | $2,924 |
Erie | $3,095 |
Donegal Insurance Group | $3,193 |
Chubb | $3,399 |
Penn National Insurance | $3,687 |
Selective Insurance | $4,630 |
Nationwide | $6,179 |
Progressive | $6,912 |
How to get homeowners insurance quotes in Philadelphia
With so many options to choose from when it comes to buying home insurance, you want to know you’re selecting the best coverage for your needs. Here are some easy steps to take as you shop for home insurance in Philadelphia:
Frequently asked questions
What is the average home insurance cost in Philadelphia?
The average home insurance rate in Philadelphia is $162 a month. That’s about $55 more per month than the statewide average.
How can I lower the cost of my home insurance in Philadelphia?
The quickest way to lower the cost of your home insurance is by comparing quotes. Once you’ve reviewed your options, ask about any discounts available to you, and pick the policy that works best for you.
Why do some insurance companies charge higher rates to customers with a low credit score?
Insurance companies consider homeowners with a bad credit score to be more likely to file claims for small dollar amount property losses compared to those with a good score. For that reason, insurers often increase rates on customers with poor credit to account for the heightened risk.
