The Keystone State is home to the Pittsburgh Steelers, is the birthplace of the American classic Philly cheesesteak, and is a great place to buy home insurance. In fact, getting home insurance in Pennsylvania is more affordable than in most other states.
Some things in life are just a given: If you buy a house, you need home insurance to protect your hefty investment. But does the state of Pennsylvania legally require you to have home insurance?
Read on, and we’ll discuss everything you need to know about purchasing homeowners insurance in Pennsylvania.
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Technically no; by law, you do not have to take out home insurance. However, if you need a mortgage on your property, you will likely need homeowners insurance to satisfy lenders’ requirements.
Although you legally do not need home insurance in Pennsylvania, it is strongly recommended that you do to protect your investment. Home insurance shields you from paying out of pocket for unforeseen circumstances like someone getting hurt on your property and suing you or if hail damages your roof.
Without homeowners insurance in Pennsylvania, if anything happens to your dwelling, the repair and replacement costs are coming out of your pocket. This begs the question: Even though home insurance isn’t mandatory, why risk your financial security?
Every state has unique natural or weather related risks; Florida and Louisiana experience hurricanes, Alaska has earthquakes, and Pennsylvania has a medley of perils depending on which county you live in.
Flooding
According to the Pennsylvania Emergency Management Agency, flooding due to tornadoes or tropical storms is the number one risk to Pennsylvania. The counties most vulnerable to flooding are Dauphin, Lebanon, and Schuylkill. If you’re new to Pennsylvania and unsure if you live in a flood-prone area, check out FEMA’s website for more information.
Flood insurance is not a named peril in traditional home insurance policies, so if you live in a county known for floods, you should strongly consider taking out a separate state flood insurance plan.
Snowstorms
Pennsylvania is a four-season state with snowy winters. With all that snow, sleet, and ice comes the potential for damage to your house. Most home insurance policies like HO2, HO3, and HO5 cover frozen pipes bursting or damage associated with the weight of ice, snow, or sleet. The only home insurance policy that doesn’t safeguard against potential snowstorm damages is the basic HO1 policy. So, as long as you have home insurance higher than HO1, your policy will cover winter-related repair or replacement costs.
For instance, if the interior temperature of your home is quite cold and leads to your pipes bursting, this may cause insurers to deny your claim.
Tornadoes and Tropical Storms
Traditional home insurance policies cover wind storm damages, but in Pennsylvania, you may need to pay for a separate tropical storm deductible to cover associated damages. The deductible is based on a percentage of your home’s value, not a flat dollar amount. If you’re unsure whether you need a windstorm deductible, ask your provider for more information on how they handle tropical storms.
Wildfires
If you live in the mountainous region of Pennsylvania during the dry times, it’s common for those counties to experience wildfires.
If you’re wondering what perils your home insurance in Pennsylvania covers, these are the perils included with your plan. However, please note HO1 policies only cover 10 named perils, not the full 16.
Also, notice that flooding damage is not a named peril covered in traditional home insurance, so you’ll need to go through the state for flood insurance if you live in a flood zone.
16 NAMED PERILS COVERED BY HOME INSURANCE | |||
Lightning or Fire | Explosions | Windstorms or Hail | Riots |
Aircraft Damage to your property | Vehicle Damage to your property | Smoke | Vandalism |
Freezing | Volcanic Eruptions | Weight of Ice, Sleet, or Snow | Theft |
Accidental Tearing, Cracking, Bulging, or Burning of A/C, Hot Water, or Fire Systems | Accidental Damage caused by Short Circuit | Accidental Water, Steam Discharge or Overflow | Falling Object Damages |
Home insurance in the Keystone state does more than shelter you and your property from named-peril damages, like a hailstorm damaging your roof; it also offers additional protection.
Naturally, the level of protection you get depends on which home insurance policy you take out. For instance, an HO1 policy offers minimal protection, whereas an HO3 policy offers you greater coverage as it’s a comprehensive plan.
If you take out a 16-named peril homeowners insurance plan (HO2, HO3 or HO5), it will cover your:
All this coverage comes with a price. Keep reading for the average cost of home insurance in Pennsylvania.
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The average cost of homeowners insurance in Pennsylvania is only $995 a year for $300,000 of dwelling coverage, which is significantly lower than the national average of $1,820.
With such affordable home insurance rates in Pennsylvania, a homeowners insurance policy is worth taking out, even if you like to live on the wild side.
When shopping around for homeowners insurance in Pennsylvania, you have a few options. Here’s a list of the most common HO policies:
Knowing the right terminology for the policy you need can help speed up the process for finding the best Pennsylvanie home insurance for you.
If you’re in the market for condo insurance (HO6 insurance), the average cost is just over $600 a year for a $1,000 deductible, $100,000 liability coverage, and $40,000 personal property coverage.
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If you’re looking to insure the property you rent, you’re in luck; renters insurance in Pennsylvania will run about $129 a year, which is about $11 per month!
Did you know Pennsylvania is the chocolate capital of the United States? If you want more money to spend on chocolate (or just cheap home insurance), let’s review ways you can save on premiums:
There’s no shame in wanting to save on insurance. Paying premiums can be painful, but these tips make it a little easier on the wallet, at least.
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Buying your first or fifth home is exciting, but it’s a significant financial investment you want to protect with home insurance. Home insurance shields you from paying for the most common perils that threaten your home, like theft, burst pipes, or hail from a storm. Also, keep in mind that if you live in a flood zone, an area known for sinkholes or tropical storms, you may also want to take out an additional policy/endorsement to cover these risks.
If you call the Keystone State home, make sure you capitalize on the well-below-national average for home insurance rates! But before you take out a home insurance policy, get multiple home insurance quotes in Pennsylvania to get the best possible rate.
Claire Smith Claire is a creative entrepreneur with a variety of marketing and content creation skills, including blog and web copy writing, research, and strategy. She has a Masters in Cultural Studies from Queen's University and is known for thinking laterally about marketing, based on her deep knowledge of people and behavior.
