In a state as big as Pennsylvania, home owners living in
different regions require different things from their
policies. That is why it is important to learn the basics of
Pennsylvania Home Insurance, then getting several quotes
from reputable insurance companies to find the best deal
that doesn’t cost an arm and a leg.
Covered by Pennsylvania Home Insurance
Most policies cover the same basic areas, and
have formulas which determine percentages for each type of
- Dwelling Protection – Covering the cost to repair or
replace the home, up to the limit of the policy.
- Personal Property – Repairs or replaces the home’s
contents, like furniture, appliances, and clothing;
normally up to 50% of the dwelling protection amount.
- Additional Living Expense – Provides money to pay for
the cost of living somewhere else while the home is being
repaired following a covered incident.
- Personal Liability – Pays the cost of legal defense due
to negligence resulting in bodily injury or property
- Medical Coverage – pays the medical costs for someone
injured on the property or by one of the property’s
residents, normally limited to $1000.
- Additional Structures – normally structures like
detached garages or sheds are covered, limited to 10% of
the dwelling protection amount.
Though home insurance is not required by law, virtually all
mortgage companies require the purchase of a policy. If home
insurance is purchased, make sure to buy coverage of at least
80% of the value of the home; getting less could mean that
benefits are reduced proportionately if an incident occurs.
Another major decision when buying a policy in Pennsylvania
is the type of replacement coverage. Replacement coverage
provides the cost to replace the item at its current
replacement cost. Actual Cash Value coverage deducts
depreciation from the replacement cost before issuing a
payment. Though replacement coverage is slightly more
expensive, it can make a huge difference in the out-of-pocket
amount required if something major happens.
Shopping Tips for Pennsylvania Home
Here are some areas to consider that will ensure the final
policy has all the coverage needed to protect all that’s at
- Personal Property Endorsement – every insurance policy
includes a limit on both the total coverage available and
on certain types of personal property. Purchase extra
coverage for things like expensive computers, antiques,
coin collections, etc.
- Inflation Guard Endorsement – homes can appreciate
significantly over time, and frequently home insurance
policies don’t keep up with the proper replacement cost
amount. This endorsement will automatically adjust the
policy value and premium to guarantee sufficient coverage
at all times.
- Snow, Ice, & Sleet Coverage – many policies don’t
cover damage resulting from the weight of snow, ice or
sleet, such as the collapse of the building. Homeowners in
areas known for significant snowfall should consider
purchasing additional coverage to protect against this
- Broken Pipes – usually damage from broken pipes,
especially things like sewers which are outside the home,
is not covered. Extra coverage is available.
Affecting Pennsylvania Homeowners Insurance
Insurance companies determine the premium amounts based on a
variety of factors. Some are controllable, others are not, but
by knowing what is being considered, consumers can greatly
affect they rates they pay.
The type of construction and age of the home are very
important in calculating rates. Brick homes are less expensive
to insure than frame homes because they can withstand more
risks and thus will experience less damage during an incident.
Newer homes have brand new heating, plumbing and electrical
systems which are less likely to break. Always let the
insurance company know if a remodeling project involves
replacing any of these systems, since rates will go down!
Other factors include:
- Deductibles – increasing the deductible on the policy,
even from just $250 to $500, can make a significant
difference in the premium cost
- Security Devices – insurance companies will offer
discounts on home with safety devices such as deadbolt
locks, smoke detectors and fire extinguishers
- Fire Protection – the quality and distance from the
nearest fire department is critical; even having a fire
hydrant in the front yard will lower rates
Best Way to Save Money on Pennsylvania Home
Each insurance company bases rates on their past experience
n the area, so a company which has had a good experience will
offer lower rates than a company which has had a number of
claims filed in the same neighborhood. But the only way to find
out is by getting several free quotes and comparing prices.
Luckily it’s easy to get those quotes – just click the “Get
Quotes” box below to instantly see a list of great companies
offering home insurance in Pennsylvania. Get free quotes from
at least four, pick the best rate, and begin saving money on
home insurance today. Don’t wait – Start Now!
For more ways to lower insurance premiums, visit Saving Money On Home
Information on flood insurance is available through the
National Flood Insurance Program.