The cost of renters insurance should be an important consideration for Philadelphians, as most insurance companies offer the same core coverages. Compare renters insurance quotes from different insurers to find the best policy. If you’re looking for affordable renters insurance, MoneyGeek’s study found that the cheapest options in Philadelphia for the average consumer are:
- USAA: $114 per year (only available to active-duty military members, veterans and their qualifying family members)
- State Farm: $116 per year
USAA policyholders can get robust coverage at a very reasonable cost. The company's renters policy includes reimbursement for items at full replacement cost, and all its policies cover flood and earthquake damage, which are typically add-ons with most renters policies.
The prices used in MoneyGeek's analysis are based on policies with $20,000 in personal property coverage, $100,000 in liability coverage and a deductible of $500. Your actual costs will differ. Check the table below for different personal property coverage limits and see how prices change.
Pennsylvania renters living outside Philadelphia can compare renters insurance for Pennsylvania as a whole.