Pennsylvania Home Insurance

If you are a homeowner in Pennsylvania, you might be wondering about the laws, policies and cost of home owners insurance in your state. Home owners insurance is a type of property insurance that covers your home and its contents from various risks, such as fire, theft, vandalism, storm damage and more. Home owners insurance also provides liability coverage in case someone gets injured on your property or you cause damage to someone else's property.

There are different types of home owners insurance policies available in Pennsylvania, depending on the level of coverage and the deductible you choose. The most common policy is the HO-3, which covers your dwelling and personal property for all perils except those specifically excluded. Some of the common exclusions are flood, earthquake, war, nuclear hazard and wear and tear. You can also purchase additional coverage for these or other perils, such as identity theft, water backup, personal injury and more.

The cost of home owners insurance in Pennsylvania varies depending on several factors, such as the location, age and condition of your home, the amount and type of coverage you choose, your credit score and your claims history. According to the National Association of Insurance Commissioners (NAIC), the average annual premium for home owners insurance in Pennsylvania was $931 in 2018, which is lower than the national average of $1,211. However, your actual premium may be higher or lower depending on your individual circumstances.

Home owners insurance is not mandatory in Pennsylvania by law, but it may be required by your mortgage lender or your homeowners association (HOA). Even if you own your home outright or do not belong to an HOA, it is still a good idea to have home owners insurance to protect your investment and your financial security. Home owners insurance can help you pay for repairs or replacement of your home and belongings in case of a covered loss, as well as cover legal expenses and medical bills if you are sued or held liable for an accident.

Home owners insurance is a complex and important topic that affects millions of Pennsylvanians. If you want to learn more about the laws, policies and cost of home owners insurance in Pennsylvania, you can contact a licensed insurance agent or visit the Pennsylvania Insurance Department website at www.insurance.pa.gov. There you can find helpful information and resources on home owners insurance, such as consumer guides, FAQs, complaint forms and more.