Best Renters Insurance in Pennsylvania

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If you rent a home or apartment, your belongings are unprotected without insurance coverage, even if your landlord has insurance. Landlord insurance policies won’t cover tenant belongings.

Whether you’re a college student, a young professional, or a family waiting to find the right permanent home, the only way to protect your belongings and liability is with renters insurance.

Keep reading to learn everything you need to know about finding the best renters insurance in Pennsylvania.

How Much Is Renters Insurance in Pennsylvania?

Renters insurance in Pennsylvania costs $183 per year or about $15 per month, ranging from $11 to $20 per month, depending on where you are in the state. The exact amount you’ll pay for insurance varies based on location and other factors. 

Even the most expensive renters insurance policy is several times cheaper than a homeowner or landlord insurance plan. Renters insurance provides similar coverage in many areas while excluding the cost of the structure from insurance, as that is the property owner’s job to insure. Renters insurance is always a relative bargain when assessing how much coverage you get with a policy. 

Nevertheless, depending on where you live, you may spend less or more on your policy. The cost of renters insurance in Pennsylvania differs based on many factors, including location. Look below at the average yearly and monthly renters insurance in Pennsylvania cities.  

Average Cost of Renters Insurance in Pennsylvania

City

Altoona
Erie
Harrisburg
Lancaster
Philadelphia
Pittsburgh
Reading
Scranton
State College
York

Avg. Annual Rate

$157
$170
$148
$152
$241
$221
$149
$164
$157
$138

Avg. Monthly Rate

$13
$14
$12
$13
$20
$19
$12
$14
$13
$11

You’ll notice that the larger metropolitan areas like Philadelphia and Pittsburgh have the highest renters insurance rates in the table. This is likely because crime rates are higher in those towns. Insurance companies set higher rates to offset the increased chances of theft or vandalism financially. 

Additionally, renters in the city may have more belongings or higher-value items in their homes, necessitating more personal property coverage, which would also raise premiums.

York had the cheapest renters insurance in Pennsylvania, according to the table. The average cost of renters insurance in Philadelphia was 74% higher than the average rate in York, which amounted to just over $100 more per year. 

Protect Your Belongings With Renters Insurance

Averaging just $12 per month, renters insurance can protect your belongings for the cost of a few cups of coffee.

What Does Renters Insurance Cover in Pennsylvania?

Renters insurance covers yourself, your family members, and your belongings from several sources of damage, formally called perils. Some of the most common perils that policies protect against include fire damage, wind damage, and theft.

The protection in renters insurance plans is divided into different areas of coverage. The sections are:

Personal Property Coverage

Personal property coverage in renters insurance financially guards your belongings in and around your property, such as clothing, electronics, furniture, tools, art, and more, from covered perils.

Loss of Use Coverage

Loss of use coverage covers additional living expenses you incur if you’re forced out of your rental property after major damage from a covered peril. If you must move out, your insurance company can cover your lodging, gas, groceries, and more while you’re displaced.

Liability Coverage

Liability coverage protects you if someone suffers an injury for which you’re found liable. Your insurer can cover medical expenses, legal fees, and more through liability coverage, so you don’t have to pay out of pocket.

Medical Payments Coverage

Medical payments to others in renters insurance covers minor injuries someone can suffer around your property without the need for legal liability.

How to Get the Best Renters Insurance in Pennsylvania

You must shop around to get the best renters insurance in Pennsylvania. Compare quotes and plans from a few different insurers while considering your budget and coverage needs. You may need to adjust some parts of your policy to fit your situation best.

When getting renters insurance, whether online or with an agent, you’ll be asked how much personal property and liability coverage you want. The limits you select influence your premiums. Higher limits cost more money. Naturally, you may want to go with the lowest possible limits to save as much money as possible, but this could leave you underinsured and defeats the purpose of having insurance protection in the first place. 

Create a home inventory. Make a home inventory to ensure you get the right amount of personal property coverage. To make one, list all items you own and how much you paid for each thing. The total number you get for all your items is the amount of personal property coverage you need. Getting any more than that is technically unnecessary, and you’d be overpaying, while getting less wouldn’t be enough to make you whole after a total loss.

Raise liability limits above the minimum. Insurance companies usually require you to carry at least $100,000 of liability coverage in your renters insurance, but you should always opt for more than that. Medical bills can get very expensive very quickly after a slip-and-fall, dog bite, or other unintentional injuries. 

Having to cover someone’s medical care, lost wages, and your legal fees out of pocket could be disastrous if your liability limits run out. Most insurers recommend $300,000 to $500,000 in liability coverage, but you may want even more if you have more than that in financial assets.

Consider endorsements. If your budget allows for it, you may want to get extra optional coverage to create the best rental insurance in Pennsylvania. For example, some high-value items are subject to sub-limits in your policy, covering them up to a certain limit, likely a few thousand dollars. Some particularly expensive items like art, jewelry, and memorabilia may cost much more, and you can schedule these items in your coverage for full protection at an additional cost. 

Many insurance companies also offer endorsements for water backup, equipment breakdown, and more.

Getting Apartment Renters Insurance in Pennsylvania

Many renters live in apartments. Renters insurance for an apartment in Pennsylvania may be cheaper than renters insurance on a home because apartment owners often have comparatively fewer items and need lower limits.

Apartments simply have less room to hold possessions. Apartment units can run much smaller than homes in terms of square footage. Unit dwellers often don’t have as much in their place, resulting in lower personal property limits and lower premiums.

Many college students in off-campus housing live in apartments, for example. Rates for these renters tend to be lower since college students don’t usually have too many expensive or high-value items. 

Additionally, attractive nuisances that can raise liability risks, such as trampolines, aren’t possible to own in an apartment unit. Some newer buildings will have safety features like sprinkler systems that discount premiums in many cases, too, that older homes won’t have.

Companies With Cheap Renters Insurance in Pennsylvania

Based on our findings, USAA had the cheapest renters insurance in Pennsylvania, while State Farm and Allstate were also affordable options. Average rates from select companies ranged from $12 to $27 per month.

The yearly premiums from the companies we reviewed varied by up to $162 per year, which means you could potentially pay dozens of dollars more every year if you don’t take the time to shop around for cheap renters insurance in Pennsylvania.

Take a look at the rates of average renters insurance in Pennsylvania below.

Pennsylvania Renters Insurance Rates by Company

Company

Allstate
Farmers
Nationwide
State Farm
Travelers
USAA

Avg. Annual Rate

$190
$251
$292
$156
$301
$139

Avg. Monthly Rate

$16
$21
$27
$13
$25
$12

Nationwide was the most costly provider on our list on average. However, this doesn’t mean it’s the most expensive for every renter. Rates will vary by location (as we outlined at the beginning of this page), property features, and much more. 

Nationwide may be much cheaper in some areas than others. You won’t know for certain until you get a quote emphasizing the importance of shopping around.

Protect Your Belongings With Renters Insurance

Averaging just $12 per month, renters insurance can protect your belongings for the cost of a few cups of coffee.

 Is Renters Insurance Required in Pennsylvania?

There are no laws that require renters insurance in Pennsylvania. But, some landlords mandate their tenants to keep renters insurance as part of their leases.

When renting, the only person that can require you to have renters insurance is your landlord. Some landlords and property management companies ask tenants to get their own renters insurance before allowing them to move in. This further limits the liability of property owners and other residents if in an apartment complex.

Pennsylvania renters insurance requirements stipulate that providers can’t raise your rates for discriminatory reasons, such as age, race, or gender. But, companies are allowed to price your premiums according to the risk factors we discussed earlier, which are subject to change from policy term to policy term.

You can cancel your renters insurance at any time. But, know that if your landlord requires you to have a policy, you may be breaking your lease, which could result in its own problems. Also, verify that your carrier has no cancellation fees before terminating your policy before its scheduled end date.

What to Know About Renters Insurance in Philadelphia

While affordability is a concern for many when renting in and around the Philadelphia area, you shouldn’t consider renters insurance an unnecessary expense. Renters insurance in Philadelphia is the best way to protect yourself financially from potentially major financial headaches ranging from natural disasters to theft.

How Much Is Renters Insurance in Philadelphia?

Renters insurance in Philadelphia costs about $241 yearly or about $20 every month, which is the highest average renters insurance in Pennsylvania. Despite these high premiums, the protection you get with renters insurance is a relatively good deal.

Property crime rates in the city are high, which raises renters insurance costs in Philadelphia. Additionally, the city is not immune to the effects of hurricanes and tornadoes, and the risk of property loss associated with these perils contributes to higher renters insurance premiums.

Getting the Best Renters Insurance in Philadelphia

The best renters insurance in Philadelphia will cover your property and liability at a price you can afford. While coverage should remain consistent from different companies, costs will vary, so be sure to shop around to find the best deal.

Policies will protect your personal property from unexpected damage. Weather in Philadelphia is somewhat variable, with significant snow storms possible in the winter. Frozen pipes or the weight of ice and snow can dismantle your house and cause direct damage to your items. Renters insurance will help in these scenarios, as well as in cases of unexpected fires, theft, wind damage, and more.

You should shop around at several companies to find the best renters insurance on a budget in Philadelphia. When comparing providers, note the difference in rates and customer service. You want to keep costs down, but you also want a friendly and helpful provider, so don’t totally skimp on service for the price.

How to Get Renters Insurance Quotes in Pennsylvania

We can’t stress the importance of comparing multiple renters insurance quotes in Pennsylvania enough when shopping for coverage. The tens of dollars you could save every month add up significantly over the course of a year. Let Clovered help you save that money.

We’re an independent insurance agency partnering with many of the top providers in Pennsylvania. Compare your options quickly and easily with our online quoting tool. You can also consult our licensed, in-house agents for help with your renters insurance comparison in Pennsylvania by calling 833-255-4117 during business hours. You can also shoot us an email at agent@clovered.com with any questions.

Renters
Protect Your Belongings With Renters Insurance

Averaging just $12 per month, renters insurance can protect your belongings for the cost of a few cups of coffee.

The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.

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