Getting a Condo Insurance Quote in Pennsylvania
Many residents choose condos over apartments when renting, but choosing the right condo insurance in Pennsylvania can be confusing. We are here to help. We have listed some key things to keep in mind when negotiating the final cost of your condo insurance to make sure that you get the policy you need for the right price. There are a lot of factors that can affect the estimated price of your annual condo insurance in Pennsylvania, so we've made it our goal to help make the condo insurance purchasing process as straightforward as possible.
Pennsylvania Condo Insurance Statistics at a Glance
Given the numerous factors that can affect the purchasing price of condo insurance, and taking into account rising property values, Pennsylvania condo insurance coverage for renters can be costly. Pennsylvania is ranked as the 24th most expensive state in the country for condo insurance, with residents paying an average of $97 a month or $1163.00 annually in condo insurance premiums. Although Pennsylvanians are spending more than most, analysis shows that these rates are becoming more affordable over time. Overall most cities in Pennsylvania have similar monthly rates, but Lancaster, PA was found to be the cheapest city in the state for condo insurance with residents paying an average of $391.50 annually or $32.63 a month. Condo insurance in Philadelphia, PA differs dramatically; it has the highest insurance rates in the state with prices averaging at $705.50 annually or $58.79 per month. With this said different insurance companies have significant differences in rates so it's important to shop around if you're searching for condo insurance in Pennsylvania.
$426
Average Annual Cost of Condo Insurance in Pennsylvania
The average cost of condo insurance in Pennsylvania on an annual basis is $426.
$35
Average Monthly Cost of Condo Insurance in Pennsylvania
The cost of condo insurance in Pennsylvania is roughly $35 per month.
24%
Percentage of Income on Ownership for Condos in Pennsylvania
Residents of Pennsylvania spend an average of 24% of their income on condo ownership.
38 years
Median Age of a Property Which Requires Pennsylvania Condo Insurance
The average age of a property requiring condo insurance in Pennsylvania is roughly 38 years.
What Affects the Costs of Your Condo Insurance in Pennsylvania
Insurance companies take many factors into account when calculating a quote for your dwelling coverage, like your individual risk and policy requirements. This means that the quotes you receive will vary in price depending on the insurer you are working with. There are many factors outside of your control that can influence the quoted price of your condo insurance in Pennsylvania, including the location of your condo, the age of your condo, and its building quality. It’s important to note that high-risk flood zone condos must have flood insurance to qualify for a mortgage. Fortunately, the National Flood Insurance Program is a federal initiative that offers insurance coverage for losses resulting from floods in participating communities.
Quotes that vary in price can be beneficial. Agents can see if you're entitled to any discounts on your insurance premium. And you do have some control over these costs. You can influence the final pricing of your condo insurance by monitoring your credit history, claims history from other insurance providers, your driving record, calculating the price of any personal property that will be held on the premises, the details of tenants, and the price will also be affected if you own or rent the condo. To get the best insurance quote possible, we strongly recommend you have as much of this information prepared as possible before obtaining a condo insurance quote for your Pennsylvania property.
Quotes that vary in price can be beneficial. Agents can see if you're entitled to any discounts on your insurance premium. And you do have some control over these costs. You can influence the final pricing of your condo insurance by monitoring your credit history, claims history from other insurance providers, your driving record, calculating the price of any personal property that will be held on the premises, the details of tenants, and the price will also be affected if you own or rent the condo. To get the best insurance quote possible, we strongly recommend you have as much of this information prepared as possible before obtaining a condo insurance quote for your Pennsylvania property.
Average Cost of Condo Insurance in Pennsylvania by City
A HO6 insurance policy is the most common type of condo insurance in the state of Pennsylvania. Whether you're living in Philadelphia or Pittsburgh and enjoying city life or own a condo in a town like Parker, you will likely need a H06 insurance for your condo. To give you an idea of how much it will cost to insure your condo, we've compiled a list of projected condo insurance quotes. The following rates are based on all of the insurance costs for your respective town or city in Pennsylvania, therefore depending on where your condo is located in your neighborhood; your final cost could differ dramatically from the figures quoted below.
| City in Pennsylvania | Average Monthly Costs for Condo Insurance | Average Annual Costs for Condo Insurance |
|---|---|---|
| Aliquippa, PA | $38 | $461 |
| Allentown, PA | $37 | $441 |
| Altoona, PA | $37 | $447 |
| Arnold, PA | $36 | $430 |
| Beaver Falls, PA | $38 | $460 |
| Bellevue, PA | $36 | $436 |
| Bethel Park, PA | $35 | $424 |
| Bethlehem, PA | $36 | $436 |
| Northampton, PA | $36 | $436 |
| Bloomsburg, PA | $37 | $449 |
| Bradford, PA | $39 | $472 |
| Butler, PA | $37 | $446 |
| Carbondale, PA | $39 | $466 |
| Chester, PA | $50 | $602 |
| Clairton, PA | $37 | $440 |
| Coatesville, PA | $41 | $487 |
| Connellsville, PA | $40 | $483 |
| Corry, PA | $39 | $472 |
| DuBois, PA | $38 | $458 |
| Duquesne, PA | $37 | $443 |
| Easton, PA | $36 | $436 |
| Erie, PA | $38 | $460 |
| Farrell, PA | $40 | $480 |
| Franklin, PA | $39 | $467 |
| Greensburg, PA | $37 | $443 |
| Harrisburg, PA | $36 | $431 |
| Hazleton, PA | $38 | $455 |
| Hermitage, PA | $40 | $482 |
| Jeannette, PA | $37 | $441 |
| Johnstown, PA | $37 | $444 |
| Lancaster, PA | $33 | $392 |
| Latrobe, PA | $37 | $447 |
| Lebanon, PA | $35 | $425 |
| Lock Haven, PA | $38 | $456 |
| Lower Burrell, PA | $35 | $426 |
| McKeesport, PA | $36 | $437 |
| Meadville, PA | $40 | $482 |
| Monessen, PA | $36 | $436 |
| Monongahela, PA | $37 | $440 |
| Nanticoke, PA | $38 | $452 |
| New Castle, PA | $40 | $485 |
| New Kensington, PA | $36 | $429 |
| Oil City, PA | $38 | $456 |
| Parker, PA | $40 | $475 |
| Philadelphia, PA | $59 | $706 |
| Pittsburgh, PA | $38 | $452 |
| Pittston, PA | $38 | $453 |
| Pottsville, PA | $39 | $462 |
| Reading, PA | $36 | $430 |
| St. Marys, PA | $38 | $456 |
| Scranton, PA | $38 | $462 |
| Shamokin, PA | $39 | $465 |
| Sharon, PA | $40 | $481 |
| Sunbury, PA | $39 | $466 |
| Titusville, PA | $40 | $481 |
| Uniontown, PA | $40 | $479 |
| Warren, PA | $37 | $450 |
| Washington, PA | $38 | $455 |
| Wilkes-Barre, PA | $37 | $448 |
| Williamsport, PA | $36 | $430 |
| York, PA | $34 | $414 |
Choosing the Best Condo Insurance Company in Pennsylvania for Your Needs
Set some time aside to look for a condo insurance company that meets your needs. Not only will this give you peace of mind in the long run but you are protecting your property, yourself, and your valuables. Use this time wisely, don't short change your Pennslyvania condo and its contents by settling for the most affordable option on the market, shop around and compare what different insurers can offer you and find the most extensive insurance coverage plan available so you are protected against any unforeseen circumstances. Don’t let yourself be forced into signing an insurance package that you are not 100% satisfied with, keep in mind that a dependable company will not force you to make a decision immediately or pay for something that you are not happy with. Look for condo insurance providers that reward their long-term customers with discounts for their loyalty or provide package insurance reductions. Most importantly you must be sure your provider is accredited. Look through the Pennsylvania Department of Insurance website to learn the licensing status, fiscal stability, and complaint history of your chosen insurer.
The Top Rated Condo Insurance Companies in Pennsylvania Based off Consumer Ratings
State Farm has been the best insurance provider in the United States for over 50 years. In Pennsylvania, a study conducted by JD Power revealed that State Farm scored an average of 4 out of 5 for their coverage options, billing and payment services, customer support services, and claims which is higher than average when compared to other providers. In Pennsylvania, State Farm also obtained a NAIC complaint ratio of 0.2. Like most condo insurance companies in Pennsylvania, they offer premium discounts on renovated condos and dwellings that have been made to better withstand any natural disasters which might happen in The Keystone State. When analyzing the available statistics of insurance firms alone, USSA gets the greatest JD Power rating in the state at 5 while Metropolitan has the lowest at 2. The condo insurance provider in Pennsylvania with the lowest complaint ratio is Westfield at 0.12 while Hartford received the highest NAIC criticism ratio at 0.88.
Pennsylvania Condo Insurance Requirements
Under the Planned Communities Act a condo unit owner in Pennsylvania is permitted to purchase insurance for his or her own benefit but isn't required to do so. The Act states, that if at a time of loss the unit owner has an insurance policy that covers exactly the same danger as the coverage of the association, then the institutions' policy will provide the insurance that is key and will take precedence. Oklahoma law requires condominium institutions to obtain insurance for the condominium construction as a whole. But, condo unit owners should still consider purchasing insurance policies to cover their liability, their possessions, any developments they install, or for coverage for any loss or event not covered by the coverage of the association.
What's Covered with Your Condo Insurance in Pennsylvania
When searching for a condo insurance policy, you will notice that the majority of condo insurance companies in Pennsylvania will provide standard coverage that can cover construction property policy, private property policy, loss of use coverage and liability policy. Building property policy provides coverage for any damage to the interior of your condo (floors, walls, tiles) and loss of permanent fixtures resulting from a covered event, such as a fire. Personal property policy protects your personal belongings, such as furniture, electronics, and clothing, from a covered event. With liability policy, if you're held accountable for physical injury or property damage liability policy offers financial protection for you. Normally a condo insurance policy in Pennsylvania insures you for $100,000 in liability damages. With lack of use policy: If your condo becomes uninhabitable and you need to live elsewhere due to a covered event and are paying more than you would to live on your condo then this will cover you for the increased living expenses.
| Average Costs of Condo Insurance in Pennsylvania by County | Average monthly condo insurance cost | Average annual homeowners insurance cost |
|---|---|---|
| Adams County, PA | $37 | $438 |
| Allegheny County, PA | $37 | $447 |
| Armstrong County, PA | $38 | $455 |
| Beaver County, PA | $38 | $458 |
| Bedford County, PA | $39 | $467 |
| Berks County, PA | $37 | $446 |
| Blair County, PA | $38 | $456 |
| Bradford County, PA | $38 | $457 |
| Bucks County, PA | $47 | $559 |
| Butler County, PA | $38 | $454 |
| Cambria County, PA | $38 | $454 |
| Cameron County, PA | $39 | $471 |
| Carbon County, PA | $40 | $477 |
| Centre County, PA | $37 | $446 |
| Chester County, PA | $41 | $495 |
| Clarion County, PA | $40 | $477 |
| Clearfield County, PA | $39 | $470 |
| Clinton County, PA | $38 | $454 |
| Columbia County, PA | $38 | $461 |
| Crawford County, PA | $40 | $486 |
| Cumberland County, PA | $37 | $441 |
| Dauphin County, PA | $37 | $447 |
| Delaware County, PA | $49 | $590 |
| Elk County, PA | $40 | $476 |
| Erie County, PA | $39 | $463 |
| Fayette County, PA | $41 | $487 |
| Forest County, PA | $40 | $485 |
| Franklin County, PA | $37 | $444 |
| Fulton County, PA | $39 | $465 |
| Greene County, PA | $40 | $484 |
| Huntingdon County, PA | $39 | $467 |
| Indiana County, PA | $39 | $465 |
| Jefferson County, PA | $39 | $464 |
| Juniata County, PA | $39 | $473 |
| Lackawanna County, PA | $39 | $470 |
| Lancaster County, PA | $35 | $422 |
| Lawrence County, PA | $41 | $490 |
| Lebanon County, PA | $37 | $439 |
| Lehigh County, PA | $38 | $456 |
| Luzerne County, PA | $38 | $457 |
| Lycoming County, PA | $37 | $445 |
| McKean County, PA | $39 | $469 |
| Mercer County, PA | $40 | $481 |
| Mifflin County, PA | $39 | $464 |
| Monroe County, PA | $41 | $488 |
| Montgomery County, PA | $44 | $525 |
| Montour County, PA | $38 | $459 |
| Northampton County, PA | $38 | $453 |
| Northumberland County, PA | $39 | $465 |
| Perry County, PA | $39 | $468 |
| Philadelphia County, PA | $62 | $746 |
| Pike County, PA | $40 | $476 |
| Potter County, PA | $39 | $462 |
| Schuylkill County, PA | $40 | $478 |
| Snyder County, PA | $39 | $464 |
| Somerset County, PA | $39 | $467 |
| Sullivan County, PA | $38 | $461 |
| Susquehanna County, PA | $39 | $473 |
| Tioga County, PA | $37 | $449 |
| Union County, PA | $38 | $460 |
| Venango County, PA | $39 | $469 |
| Warren County, PA | $39 | $466 |
| Washington County, PA | $38 | $454 |
| Wayne County, PA | $41 | $491 |
| Westmoreland County, PA | $37 | $448 |
| Wyoming County, PA | $40 | $481 |
| York County, PA | $36 | $435 |
How to Get Pennsylvania Condo Insurance Discounts
Every insurance provider in Pennsylvania has its own reduction or loyalty program. Be sure to take advantage of these schemes when you are shopping for your insurance and always ask clerks about any discounts that may be available to you or your family. You will find that there are often many discounts offered specifically for Pennsylvania condo insurance policies including discounts for new customers, multi-policy and bundled discounts, loyalty discounts, and annual/paid-in-full discounts.
| Condo Insurance Deductible | Average Pennsylvania Condo Insurance Costs Based off Deductible |
|---|---|
| $500 | $70 |
| $1,000 | $63 |
| $1,500 | $59 |
| $2,000 | $55 |
| $5,000 | $46 |
Getting the Best Pennsylvania Condo Insurance Rates
Shopping around for estimates is critical when looking to make savings on your next condo insurance policy. Call our offices and we can work together to find you the best deal. Ask a friend to refer you to their condo insurance provider; you may receive a referral reduction which will be financially beneficial for both parties. The higher your deductible, the lower the price of your insurance. However, you have to make sure that your deductible is not too high as in the case of a loss you are responsible for the costs. You should contact as many insurers as possible and discuss their available discounts for their insurance policies, ask providers if they offer bundle deals or if they can package multiple plans together for a discounted rate. For example, talk to your car insurance provider and ask them if they can decrease your premium if you buy condo insurance from them. Providers often reduce the insurance premiums of their loyal customers as an incentive to stay with this company. Some of these discounts can save you an average of 10% on your yearly premiums.
It is important to remain up-to-date with information regarding insurance policies, regulations, and consumer protection measures to make informed decisions and guarantee equitable treatment. For more information, reach out to the insurance commissioner at the Pennsylvania Insurance Department. Insurance commissioners safeguard consumer interests by providing assistance and expertise, overseeing the insurance industry's market conduct and financial stability, and promoting a competitive environment in the insurance marketplace. These measures will assist you in staying informed about shifts in the insurance marketplace, making suitable choices, and receiving the best possible service from insurance providers.
It is important to remain up-to-date with information regarding insurance policies, regulations, and consumer protection measures to make informed decisions and guarantee equitable treatment. For more information, reach out to the insurance commissioner at the Pennsylvania Insurance Department. Insurance commissioners safeguard consumer interests by providing assistance and expertise, overseeing the insurance industry's market conduct and financial stability, and promoting a competitive environment in the insurance marketplace. These measures will assist you in staying informed about shifts in the insurance marketplace, making suitable choices, and receiving the best possible service from insurance providers.