Best and Cheapest Renters Insurance in Pennsylvania (2024)

While Chubb is the best for $20K in personal property coverage, with an average annual premium of $93 and a MoneyGeek score of 91 out of 100, Chubb is also the most affordable. The best for you will depend on your needs. For instance, Erie is ideal for those who value service, while USAA is best for veterans. Choose based on your specific requirements.

Chubb is the best renters insurance provider in Pennsylvania with a MoneyGeek score of 91 out of 100 and an annual premium of $93 for $20,000 in personal property coverage. The best provider often balances both cost and customer service. The following providers are the two best renters insurance providers in Pennsylvania for the same policy.

• Chubb: MoneyGeek score of 91 out of 100 ($93 per year)
• Erie: MoneyGeek score of 89 out of 100 ($116 per year)

Chubb has perfectly balanced customer satisfaction and affordability. However, the best provider for you will still depend on your needs.

Chubb offers the cheapest renters insurance in Pennsylvania with an annual premium of $93 for $20K in personal property coverage. Personal property coverage protects your belongings, such as furniture and electronics, from damage or theft. The following providers are the top two cheapest providers in Pennsylvania for $20K in personal property coverage and a $1,000 deductible:

• Chubb: $93 per year
• State Farm: $104 per year

Cheap renters insurance policies often have low personal property coverage limits. Higher limits can increase monthly costs but offer better protection for your belongings.

A high deductible can help you lower costs. In Pennsylvania, the cheapest renters insurance company for $20K in personal property coverage with a $2,000 deductible is Chubb, with an annual premium of $79. A deductible is the amount you pay out of pocket before insurance kicks in. For the same coverage with a $2,000 deductible, the following providers are the top two cheapest in Pennsylvania:

• Chubb: $79 per year
• State Farm: $91 per year

A deductible is an out-of-pocket cost you pay before your insurance covers a claim. Increasing the deductible can lower your premium. Take a look at how rates change using the table we'll provide below.

Erie is the best renters insurance company for service quality in Pennsylvania for $20K in personal property coverage, with an annual premium of $116. Having great customer service means that your provider is responsive, helpful, and supportive, especially when you need to file a claim. These are the top two best providers in Pennsylvania for those who value great customer service and $20K in personal property coverage:

• Erie: MoneyGeek score of 85 out of 100 ($116 per year)
• Travelers: MoneyGeek score of 82 out of 100 ($258 per year)

Great customer service is essential for renters looking for insurance because it ensures that you will receive timely and effective assistance when problems arise. For instance, if you need to make a claim after a burglary, great customer service means your provider would handle your claim efficiently, offering reassurance and swift resolution.

Erie is the best renters insurance company for renters who need $100K of personal property coverage in Pennsylvania, with an annual premium of $280. For $100K in personal property coverage, the following providers are the top two best providers in Pennsylvania:

• Erie: MoneyGeek score of 91 out of 100 ($280 per year)
  
• State Farm: MoneyGeek score of 89 out of 100 ($242 per year)

Renters with more personal belongings need higher personal property coverage. Personal property coverage protects your belongings against theft, damage, or loss. Higher personal property coverage often comes at a higher cost. It's important to find a provider who can balance cost and service, ensuring your valuables are well-protected without breaking the bank.

In Pennsylvania, USAA is the best renters insurance company for those with military backgrounds, offering an annual premium of $149 for $20K in personal property coverage. USAA is exclusively for individuals with military backgrounds. The following providers are the top two best providers in Pennsylvania for military members who need $20K in personal property coverage:

• USAA: MoneyGeek score of 100 out of 100 ($149 per year)
• Chubb: MoneyGeek score of 91 out of 100 ($93 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. Although it is not the most affordable in Pennsylvania, USAA’s tailored offerings make it a compelling choice for military members to consider.

Chubb is the best renters insurance company for those with poor credit in Pennsylvania, with an annual premium of $155. The following providers are the top two best providers in Pennsylvania for those with poor credit:

• Chubb: MoneyGeek score of 91 out of 100 ($155 per year)
• Erie: MoneyGeek score of 90 out of 100 ($214 per year)

Rates for those with poor credit are often higher, as they pose a greater risk to providers. Providers view them as higher-risk because of the potential for more frequent or larger claims. You can improve your credit to lower rates and take advantage of discounts where possible.

The average cost of renters insurance in Pennsylvania is $164 annually, or $14 monthly, which is higher than the national averageof $146 annually, or $12 monthly. This means renters in Pennsylvania pay $18 more per year compared to the national average. These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, and a $1,000 deductible.

Renters should remember that the average cost of renters insurance in Pennsylvania may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of theft, damage, or loss. Use the tool below to get an estimate for your renters insurance based on your needs.

The average cost for renters insurance not only varies by state, but also varies by city. For example, renters insurance in Allentown costs an average of $132 annually, compared to $201 in Philadelphia. These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, a $1,000 deductible, and a good credit score. See the average cost in your city using the table below.

Multiple factors impact the cost of renters insurance in Pennsylvania, such as location, type and amount of coverage, and deductible amount. Understanding these factors is important for making informed decisions and potentially saving money on premiums. Below are key factors that affect renters insurance costs:

Factors:

• Location: Urban areas may have higher premiums due to the increased risk of theft.
• Type and amount of coverage: More comprehensive coverage typically costs more.
• Deductible amount: Higher deductibles usually result in lower premiums.
• Claims history: A history of claims can increase your premium.
• Credit score: Lower credit scores may lead to higher premiums.

Determining your personal property coverage involves creating a personal inventory of all your belongings at home. A personal inventory is a detailed list of all items you own, including their descriptions and values. Follow these steps to create your personal inventory and ensure you have adequate coverage:

1. List all items: Go room by room and write down everything you own.
2. Take photos or videos: Document each item visually for proof of ownership.
3. Record purchase details: Note down the purchase date, price, and any relevant serial numbers.
4. Organize receipts: Keep receipts and any appraisal documents in a safe place.
5. Update regularly: Review and update your inventory annually or whenever you make significant purchases.

Renters insurance primarily protects your personal belongings from damage, but it also extends to other areas such as liability and additional living expenses. Here's what a typical policy may cover:

• Personal Property Coverage: Safeguards your possessions against covered perils like theft to help you replace them.
• Personal Liability Coverage: Protects you from legal responsibility for injuries or damage to others, such as if a guest is injured in your rental unit.
• Loss of Use Coverage: For additional living expenses if your rental is uninhabitable due to a fire, for example, loss of use coverage can cover temporary housing costs.

Renters insurance typically applies to specific events, like theft, vandalism or specific natural disasters. Here's what most policies cover:

• Fire or lightning
• Windstorm or hail
• Explosions
• Riots
• Damage caused by aircraft
• Damage caused by vehicles
• Smoke damage
• Vandalism
• Theft
• Volcanic eruption
• Falling objects
• Weight of ice, snow or sleet
• Water-related damage from home utilities
• Electrical surge damage

Although renters insurance provides a safety net for your personal property and liability, it does not universally cover all losses. For instance, damage from floods or earthquakes typically falls outside standard policies. Here's what else is usually not included:

• Natural Disasters: Standard policies often exclude events like floods and earthquakes.
• High-Value Items: Expensive jewelry or electronics may exceed policy limits.
• Business Equipment: Items used for business purposes may require additional coverage.
• Roommate Property: Your policy does not cover your roommate's belongings.
• Pest Damage: Infestations and damage from pests are generally not covered.
• Car Theft: Personal vehicles are covered under auto insurance, not renters insurance.

Understanding these exclusions can help you seek additional coverage if necessary, ensuring you're protected against a wider range of potential risks.

Finding the best renters insurance provider for you can be easy. We've answered some common questions to help you make an informed decision.