Home Insurance in Philadelphia
Quote in 60 SecondsTake a walk down memory lane and watch as American history comes alive in the City of Brotherly Love. Between the Founding Fathers signing the Declaration of Independence and the famously cracked Liberty Bell, Philadelphia is rich with opportunities to explore how we became the land of the free. Settling down and shopping for home insurance in Philadelphia? Here at Hippo, we care about your ability to live out the American dream of owning a home with options for all your needs.
Philadelphia is known for its grit and glamor. You can go from paying a visit to over 90 museums around town to enjoying a night out at the Academy of Music for an opera performance, all while chowing down on the city’s famous soft pretzels and Philly cheesesteaks. Whether you’re new to town or your family has lived here for generations, there’s a lot that goes into owning a home and choosing the insurance policy that’s right for you.
Hippo is all about adding value to your home life. Our team did their research so you don’t have to. Read below for the lowdown on everything from crime rates to weather patterns so you can spend less time in front of a screen and more time exploring all that Philadelphia has to offer.
How much is home insurance in Philadelphia?
Home insurance in Philadelphia comes out to an average of $2,946 per year. In comparison, the Pennsylvania home insurance average is $1,046 and the national average is $1,200. To put this into perspective, a year’s worth of insurance in Philly is about the same as 590 five-inch cheesesteaks or 42 tickets to watch the Philadelphia Eagles play.
What factors influence my home insurance rate?
Rates for homeowners insurance in Philadelphia are higher than the state and national average due to a variety of factors including local crime rates, severe weather and adjusted cost of living. Other things that can affect your rates are the age, location, size and condition of your home, as well as your insurance score and claim history.
Philadelphia Home Insurance Premiums
What does home insurance in Philadelphia cover?
Your typical home insurance in Philadelphia covers your dwelling (which includes protection from major disasters like a home fire or a blizzard), personal belongings in the case of damage or theft and personal liability in case someone is physically injured while on your property.
There are certain key features that a standard plan doesn’t cover, in which case you — as a Philadelphia homeowner — may want to consider adding on as a rider to your policy. Let’s say you live in a neighborhood where crime rates are high. In that case, you might want additional coverage for any high-value items that exceed your policy through jewelry or scheduled personal property insurance riders.
Philadelphia Insurance Coverage Options
Traditional coverage
Structure
Expenses
Protection
Structures
Possessions
Supplemental coverage
Considerations for Philadelphia residents
From safety concerns to severe weather, there are a few things to consider as a homeowner in Philadelphia. Because after all, it doesn’t matter if you decide to take a stroll through the Founding Fathers’ stomping grounds of Old City or go for a hike along the Circuit Trails — you deserve to feel confident in leaving your home unattended.
While Philadelphia experiences all four beautiful seasons, some cause more damage than others. While summer home maintenance is minimal — though you should make sure your HVAC system is running properly — the main season Philly homeowners need to prepare for is winter.
To keep your home safe during Philly’s extreme winter weather, it’s a smart move to look into ways to prevent winter weather damage such as inspecting your furnace and trimming your trees. Other important home maintenance tips to prepare for the blizzards Philly is famous for include wrapping your pipes, sealing any exterior cracks and adding in new weatherstripping to all exterior doors and windows.
How to lower your home insurance premium
Although insurance rates are higher than the state and national average, there are a lot of ways you can lower your home insurance premiums. Our team at Hippo is committed to saving you money, so we’ve looked into a few ways you can get a price that’s right for you.
The first place to start is keeping up with regular home maintenance such as unclogging drains and replacing air filters. Not only can staying up to date on your home’s needs help lower your premium, but it also reduces the risk of running into costly problems further down the line.
Another way to possibly lower your premiums is to upgrade your home to be more eco-friendly. This can help save you money on utility bills and get your annual premiums down as many companies may reward you for going green. Unsure how to start? Check out these free home renovation ideas to learn more.
At the end of the day, Philadelphia homeowners have a lot to enjoy in the city they call home — and a lot to think about when it comes to choosing the home insurance policy that’s right for them. To get the freedom and flexibility you deserve, give us a call today for your free home insurance quote.
