If you’re a renter in the Keystone State, you’ll find renters insurance to be affordable, with the average premium costing you only $ 15 per month. That said, there are several factors to consider before buying a policy.
The first thing to consider is how much renters insurance do you need? Your coverage amount should correlate with the value of the items in your apartment. To demonstrate, if you have a few valuable items such as clothes, electronics and small appliances, you could have a lower coverage amount. If you own high-end artwork, jewelry, musical instruments, electronics or collectibles, you’ll want more coverage.
When searching for providers, there are several items you want to consider:
- Reputation: Does the carrier deliver prompt customer service and claims processing?
- Financial strength: Does the company have the financial strength to pay claims?
- Affordability: Is the company the cheapest renters insurance in Pennsylvania for your needs?
- Ease of use: Can you sign up for a policy online or do you have to go through a phone agent? How easy does the provider make it to file a claim?
These questions can help you as you research renters insurance companies.
Best cheap renters insurance companies in Pennsylvania
To help you find the best of the best, we considered several factors. The first is cost, as we strived to identify the least expensive options available. In addition, customer satisfaction is a huge influencer in buying decisions. To help with this, we included ratings from the J.D. Power & Associate’s customer service satisfaction survey. Lastly, we also wanted to examine a provider’s financial health as this indicates their ability or inability to pay out claims.
Here’s a look at the top renters insurance companies in Pennsylvania:
- Liberty Mutual: Liberty Mutual makes the list for its responsive service. It earned an A grade with the Better Business Bureau, demonstrating its ability to resolve customer complaints.
- Nationwide: Nationwide also has a great reputation, earning an A+ rating with the BBB. It also has a great app that makes it easy to manage your policy on the go and file claims quickly.
- State Farm: State Farm was one of the best options available. It’s among the top providers in customer satisfaction, earning five out of five in J.D. Power’s survey. State Farm also has several options if you’d like to bundle a few insurance policies or get discounts.
- USAA: If you or a loved one is in the military, it’s hard to do better than USAA. It consistently earns the highest marks in customer satisfaction (5 out of 5 in J.D. Power’s survey), and it has some of the lowest rates available.
Here’s how the top four stack up based on their BBB grade, AM Best rating and J.D. Power score.
| Provider | J.D. Power | BBB Grade | AM Best rating |
|---|---|---|---|
| Liberty Mutual | 2 out of 5 | A | A |
| State Farm | 5 out of 5 | A+ | A++ |
| Nationwide | 2 out of 5 | A+ | A+ |
| USAA | 5 out of 5 | N/R | A++ |
Because situations differ when buying renters insurance, here’s a look at which options would be best depending on your situation.
Cheapest Pennsylvania renters insurance: State Farm
State Farm offers some of the best rates available with exceptional service. The company scores highest among providers in customer satisfaction, and getting a quote is simple through its website.
Best Pennsylvania renters insurance for college students: Nationwide
Nationwide makes it easy to receive a quote online. With the mobile app, you’re connected to manage your policy anywhere you go. It’s simple, straight-forward and perfect for those who need to buy for landlord requirements.
The best Pennsylvania renters insurance policy for seniors or those unaccustomed to buying renter’s insurance: Liberty Mutual
Unlike Nationwide, Liberty Mutual has a few more hoops you have to jump through to receive a quote. However, help is around the corner at any time, and Liberty Mutual can pair you with a local agent if you prefer to buy your policy in person.
Frequently asked questions
How much renters insurance do I need in Pennsylvania?
It depends on the value of your items. If you have more valuable items, you’ll want more coverage to reimburse you should a covered event happen.
What’s the cheapest renters insurance company in Pennsylvania?
State Farm is an excellent option to consider because it offers a good mix of value and exceptional service. If you’re in the military, there’s no better choice than USAA in terms of pricing and customer service. However, the cheapest company for you will be based on several individual factors. Get several quotes to see if there are less expensive options for you.
What does loss of use coverage mean?
If your apartment catches on fire and you can’t live there anymore, you’ll need someplace to live. Many renters insurance policies include loss of use coverage that provides financial assistance for temporary living expenses such as moving costs or hotel costs.
Am I required to have renters insurance in Pennsylvania?
Renters insurance is not a legal requirement, but many landlords require it to rent with them. Even if landlords don’t require it, renters insurance is an inexpensive policy to buy and could cover you if the unexpected happens.
