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2024

The Cheapest Renters Insurance in Pennsylvania

Cheap Renters Insurance Companies in Pennsylvania

Cost is one of the most vital considerations Pennsylvanians make when choosing a renters insurance policy. The cheapest two providers in the state other than USAA, which is exclusive for military members and their families, are State Farm and Allstate. A State Farm policy costs $116 per year on average, while Allstate charges around $146 annually.

MoneyGeek based the average cost of renters insurance for each company on quotes obtained from varying ZIP codes across the state. These prices are for a policy that offers $20,000 personal property coverage, $100,000 liability insurance and a deductible of $500.

Cheapest Renters Insurance Companies in Pennsylvania by City

The cheapest renters insurance in Philadelphia, Pennsylvania, is from State Farm, while the cheapest in Pittsburg, Pennsylvania, is from Allstate. That said, if you are a current or former member of the military or are an eligible member of a military family, USAA is still your cheapest option.

Companies With the Cheapest Renters Insurance in Pennsylvania by City

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Best Renters Insurance Companies in Pennsylvania

USAA is the best renters insurance provider in Pennsylvania, scoring a perfect 100 on MoneyGeek’s ranking system which is based on affordability, financial stability and customer satisfaction. However, its policies are only available to veterans and current military personnel and their family members.

State Farm was ranked as the second best insurance provider with a rating of 98, scoring highly for affordability, financial stability and customer satisfaction.

Although our recommendations for the best renters insurance companies may not always offer the lowest premiums, they provide the best balance between cost and service quality. You must also look at how efficient and responsive an insurer is, especially if you need to file a claim.


1
USAA
Score:100

5/5

Affordability

5/5

User Satisfaction

5/5

Financial Stability

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Geek Quick Take

The overall best renters insurance company in Pennsylvania is USAA, gaining perfect scores on affordability, customer satisfaction and financial stability. However, its policies are restricted to military personnel and their eligible family members. Standard policies from USAA already include coverage for floods and earthquakes and military uniforms and gear.

More About USAA

USAA is available in all states in the country and offers the most comprehensive insurance policies in the market. To apply, you need to be screened for eligibility first. There are many advantages to getting a renters insurance policy under USAA, such as a robust mobile app for convenient transactions, a flexible payment plan that comes at no added cost, personalized financial advice and the option of having accessible online claims processing. USAA also provides discounts for bundling policies and being claims-free.

2
State Farm
Score:98

4.9/5

Affordability

4.8/5

User Satisfaction

5/5

Financial Stability

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Geek Quick Take

State Farm is our runner-up for the best renters insurance company in Pennsylvania, earning high scores on financial stability, affordability and service quality. Policyholders can receive unique coverages such as for personal injury, including defamation of character, libel or slander, as well as additional business property insurance.

More About State Farm

State Farm policies are available in Washington, D.C. and all 50 U.S. states. Renters insurance buyers can easily get a personalized quote from the company’s website. The company also has a mobile app that helps policyholders manage their insurance and banking transactions. Policyholders are given the option to sign up for automatic payment and to go paperless. State Farm’s optional coverages include protection against personal injury, identity theft, earthquakes and incidental business and professional liability. It also provides discounts for bundling renters and auto insurance policies and for having home alert protection devices.

3
Allstate
Score:92

4.6/5

Affordability

4.6/5

User Satisfaction

4.5/5

Financial Stability

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Geek Quick Take

Allstate scored 92 out of 100 in MoneyGeek’s ranking system, making it a solid option for Pennsylvanians looking to buy affordable but also reliable renters insurance. Policyholders can choose to include coverages for identity theft, flood, personal injury and scheduled personal property.

More About Allstate

Allstate’s renters insurance policies are available in Washington, D.C. and all 50 U.S. states. Policyholders can look forward to many perks, such as having a mobile app and receiving expert financial advice from Allstate’s personal financial representatives on areas like starting your career, growing your family, raising your children, protecting your finances and planning for retirement. Aside from commonly-offered discounts like multi-policy discounts that allow you to save by bundling your renters and auto insurance policies, and claims-free discounts, Allstate also provides unique discounts for automatic payments and for retired policyholders who are at least 55 years old.

4
Nationwide
Score:73

3/5

Affordability

4.7/5

User Satisfaction

4.5/5

Financial Stability

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Geek Quick Take

Based on our analysis, Nationwide was ranked as the fourth best option for renters insurance in Pennsylvania. The company earned high marks in financial stability and customer satisfaction. Its standard policies already include coverages against identity theft, water backup and loss assessment and payment of fees to a homeowners’ association for damages to a shared space.

More About Nationwide

Nationwide’s renters insurance policies are available in 44 states, including Pennsylvania. It offers unique coverages, such as for building alterations and additions made in compliance with the latest building codes and standards, any unauthorized transactions on your credit cards, debit/ATM card and forged checks and counterfeit money. Policyholders can also extend their coverage against theft to include personal belongings that are stored in any motor vehicle, trailer or watercraft. While most renters insurance policies don’t cover floods, Nationwide offers this coverage as a separate policy.

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The cheapest policies are not always the best policies, especially when it comes to customer service. A better policy that fits your budget and has a good customer service record, may save you more money in the long run.

Largest Renters Insurance Companies in Pennsylvania

There are many benefits to buying renters insurance from a company with a large market share. These larger, more well-known companies tend to be more financially stable, allowing them to invest more in their customers’ experience. Because of this, you may receive better customer service from a larger company than a smaller company.

Company
Market Share

1.

State Farm

17.3%

2.

Erie

15.4%

3.

Allstate

13.0%

4.

Liberty Mutual

8.5%

5.

Nationwide

7.3%

6.

Travelers

6.6%

7.

USAA

4.3%

8.

Chubb

3.1%

9.

Farmers

2.5%

10.

Donegal Mutual Insurance Co

1.9%

Average Cost of Renters Insurance in Pennsylvania

The average cost of renters insurance in Pennsylvania is $194 per year, or $35 more than the national average.

The cost of your premiums will depend on the amount of your personal property. Use MoneyGeek’s calculator to see how much insurance you’ll need based on the value of your personal property.

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Total: $0


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Pennsylvanians who are looking to trim their budget can save on their premiums by comparing renters insurance quotes from multiple providers. You can save up to $204 per year by buying a policy from the cheapest insurer, State Farm, instead of from the most expensive provider, Nationwide.

What Factors Impact Renters Insurance Cost in Pennsylvania

Various factors determine how much you pay for renters insurance, including your location, coverage level and deductible amount. Always consider the following factors when looking for renters insurance in Pennsylvania.

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Renters Insurance in Pennsylvania: What You Need to Know

Renters insurance provides a low-cost way to protect your property in case of theft or damage. 28.2% of the population in Pennsylvania are renters. The average rent per month is $951. Renters pay an average monthly premium of $16, about 1.7% of the average monthly rent in this state.

What Renters Insurance Typically Covers in Pennsylvania

While purchasing renters insurance in Pennsylvania, be sure you understand what your policy covers and what it does not. Most standard plans cover personal property, liability insurance, medical payments and additional living expenses. However, some companies may also offer additional benefits for identity theft protection, flood insurance and other major incidents.

Renters insurance carriers in Pennsylvania also cover damage caused by common natural disasters like wildfires, tornadoes and thunderstorms.

What Renters Insurance Typically Does Not Cover in Pennsylvania

Like any other insurance policy, you need to ensure that you understand what your renters insurance covers and doesn’t cover before you make your purchase. If you have any questions, be sure to speak to your agent for more guidance.

Renters insurance in Pennsylvania covers many perils, but some remain excluded. Some of the issues that may be excluded from your policy include:

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If you want to learn more about what renters insurance is and what it covers, the Pennsylvania Insurance Department can guide you.

Aside from providing resources for consumer rights, regulation and licensing, the office can also assist you with finding a licensed insurance professional. The department effectively acts as a watchdog for renters, processing complaints and ensuring a competitive marketplace by guaranteeing that insurance policies are of high quality, easily understandable and appropriately priced.

You can reach the Pennsylvania Insurance Department through the following channels:

  • Office Address: 1326 Strawberry Square, Harrisburg, PA 17120
  • Consumer Help Line: 1-877-881-6388 (toll-free)

You may also follow them on their social media accounts for updates on their services:

  • Twitter: https://twitter.com/PAInsuranceDept
  • Facebook: https://www.facebook.com/painsurancedepartment/

FAQs About Renters Insurance in Pennsylvania

MoneyGeek has answered some of the most commonly asked questions to jumpstart your search for the best renters insurance companies in Pennsylvania.

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Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.

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Renters Insurance in Pennsylvania Analysis: Methodology

MoneyGeek analyzed renters insurance premiums from four of the top insurance companies in Pennsylvania provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Pennsylvania. Quotes were gathered for policies with personal property coverage of $20,000, $50,000 and $100,000, liability coverage of $100,000 and a deductible of $500.

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick is a senior content director at MoneyGeek with over five years of experience analyzing the insurance market, conducting original research and creating content that can be personalized for every buyer. He has been quoted on insurance topics in several publications, including CNBC, NBC News and Mashable.

Mark earned a master’s degree in Economics and International Relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his economics and insurance knowledge to bring transparency around financial topics and help others feel confident in their money moves.


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