Statistics About The Average Cost Of Homeowners Insurance In Pa

In this post, we explore a range of statistics related to the average cost of homeowners insurance in Pennsylvania. From the impact of location and home value to discounts and specific insurance providers, these insights offer valuable information for Pennsylvania residents looking to understand and potentially reduce their homeowners insurance expenses.

Statistic 1

"Homeowners in rural areas of Pennsylvania often pay about $100 less per year for insurance compared to urban areas."

Statistic 2

"Pennsylvania's homeowners insurance premiums average about $0.50 per $100 of home value."

Statistic 3

"Pennsylvania homeowners without claims over a five-year period can receive a "claims-free" discount averaging 7%."

Statistic 4

"Pittsburgh, PA, boasts lower-than-average homeowners insurance rates, with an average annual premium of $1,150."

Statistic 5

"Pennsylvania’s average homeowners insurance premium is 11% less than the national average."

Statistic 6

"New home construction in Pennsylvania often results in lower insurance premiums, typically saving homeowners around 10%."

Statistic 7

"Pennsylvania's rates are impacted by the relatively lower risk of natural disasters compared to other states."

Statistic 8

"Older homes in Pennsylvania may require higher premiums due to increased risks and repair costs."

Statistic 9

"The average cost of homeowners insurance in Pennsylvania is approximately $1,200 per year."

Statistic 10

"Erie Insurance offers one of the most affordable homeowners insurance policies in Pennsylvania, with average annual premiums starting at $900."

Statistic 11

"The average monthly cost of homeowners insurance in Pennsylvania is around $100."

Statistic 12

"The cost of replacements and repairs in Pennsylvania typically aligns with the state’s moderate price growth, influencing steady insurance costs."

Statistic 13

"The presence of fire hydrants within a 1000-foot radius can reduce premiums by roughly 8%."

Statistic 14

"For a home valued at $250,000, Pennsylvania homeowners pay an average annual insurance premium of $1,215."

Statistic 15

"Pennsylvania homeowners insurance premiums can range from about $600 to $3,000 annually, depending on the coverage level and location."

Statistic 16

"Bundling homeowners and auto insurance policies in Pennsylvania can save homeowners an average of 17%."

Statistic 17

"Allstate’s average annual homeowners insurance premium in Pennsylvania is approximately $1,450."

Statistic 18

"Philadelphia, PA, has one of the highest average homeowners insurance rates in the state, at about $1,550 per year."

Statistic 19

"The deductible choice can significantly influence homeowners insurance premiums, with higher deductibles lowering the cost by up to 20%."

Statistic 20

"On average, Pennsylvania homeowners with a security system receive a discount of approximately 5% on their insurance premiums."

In conclusion, the average cost of homeowners insurance in Pennsylvania is approximately $1,200 per year, with various factors influencing premiums across the state. Rural homeowners typically pay $100 less annually than those in urban areas, and premiums average around $0.50 per $100 of home value. Homeowners can save through discounts for remaining claims-free or having fire hydrants nearby, while new home construction can also lead to lower premiums. Pennsylvania’s insurance rates are lower than the national average, with Pittsburgh offering some of the most affordable rates. Deductible choices and security systems play a significant role in premium costs, with bundling policies and choosing higher deductibles offering potential savings for homeowners in the state.