If you’re planning to buy car insurance in Philadelphia, Pennsylvania, you can expect to have a tough time finding an affordable policy. This city has a higher average auto insurance cost than most other places in the United States, but you can still find a good deal if you shop around. Check out this comprehensive guide to buying car insurance in Philadelphia:
How Much Auto Insurance Is Required in Philadelphia?
In Pennsylvania, owners of private passenger vehicles are required to purchase an auto insurance policy that includes the following coverage limits:
- Bodily injury liability coverage per person: $15,000
- Bodily injury liability coverage per accident: $30,000
- Property damage liability coverage per accident: $5000
- Medical payments coverage per accident: $5000
The purpose of bodily injury coverage is to provide you with financial protection if you cause an accident that injures another person, says Insurify. If you’re found to be the responsible party and held liable after a collision, property damage liability coverage pays for damage to another individual’s property. It also covers your legal costs if you find yourself facing a lawsuit after the accident.
What Is the Recommended Auto Insurance Coverage for Philadelphia Drivers?
According to QuoteWizard, you should purchase the following auto insurance coverage to make sure you have adequate protection in the event of an accident:
- Individual bodily injury liability coverage: $100,000
- Total bodily injury liability coverage: $300,000
- Property damage liability coverage: $100,000
What Is the Average Auto Insurance Cost in Philadelphia?
Drivers in Philadelphia pay an average of $2647 each year for car insurance, according to The Zebra. In comparison, the average cost of auto insurance in Pennsylvania is $1475 and the national average is $1548.
What Are the Contributing Factors to Auto Insurance Costs in Philadelphia?
Insurance companies in Philadelphia look at the following factors when setting car insurance premiums:
Age
Teenagers are the drivers who face the highest auto insurance prices in Philadelphia. However, when they reach their 20s, they’ll see their rates decline substantially. On average, teen drivers pay $4362 more than those who are in their 20s, which is the largest difference in premiums between any two age groups.
Below are the average car insurance rates for different age groups in Philadelphia:
- Teens: $7732 per year
- 20s: $3370 per year
- 30s: $2626 per year
- 40s: $2525 per year
- 50s: $2356 per year
- 60s: $2391 per year
- 70s: $2910 per year
Driving Record
One of the best ways to keep your auto insurance cost low is to maintain a clean driving record. Usually, you’ll see your car insurance rate go up if you get a speeding ticket, reckless driving charge, get a DUI citation, or cause an accident.
Take a look at the average costs of auto insurance for drivers in Philadelphia with previous traffic violations and at-fault accidents:
- At-fault accident with damages totaling less than $1000: $2887 per year
- At-fault accident with damages totaling more than $2000: $4115 per year
- DUI: $3684 per year
- Reckless driving: $3861 per year
- Driving 16 to 20 mph above the speed limit: $2929 per year
Credit Score
Keeping a good credit score can help you get more affordable auto insurance rates. On average, Philadelphia drivers who successfully move up to the “exceptional” credit tier from the “very poor” tier reduce their car insurance premiums by 61 percent. If you improve your credit rating from “very poor” to “fair,” you can save $2066 on auto insurance each year.
Below are the average auto insurance premiums of Philadelphia drivers by credit tier:
- Exceptional: $2097 per year
- Very good: $2347 per year
- Good: $2647 per year
- Fair: $3288 per year
- Very poor: $5354 per year
How Much Do Leading Auto Insurance Providers Charge in Philadelphia?
According to Moneygeek, below are the average auto insurance prices from major insurance companies in Philadelphia:
- USAA: $1102 per year
- Travelers: $1547 per year
- GEICO: $1565 per year
- Erie: $1578 per year
- State Farm: $1597 per year
- Nationwide: $1758 per year
- Allstate: $2157 per year
- Esurance: $2403 per year
- Progressive: $3064 per year
- MetLife: $3208 per year
Average annual premiums for 50/100/50 and 100/300/100 policies are as follow:
- USAA: $1014 for 50/100/50 and $1102 for 100/300/100
- GEICO: $1387 for 50/100/50 and $1565 for 100/300/100
- Erie: $1498 for 50/100/50 and $1578 for 100/300/100
- State Farm: $1465 for 50/100/50 and $1597 for 100/300/100
- Travelers: $1500 for 50/100/50 and $1547 for 100/300/100
- Nationwide: $1634 for 50/100/50 and $1758 for 100/300/100
- Allstate: $1871 for 50/100/50 and $2157 for 100/300/100
- Esurance: $2187 for 50/100/50 and $2403 for 100/300/100
- Progressive: $2452 for 50/100/50 and $3064 for 100/300/100
- MetLife: $3146 for 50/100/50 and $3208 for 100/300/100
Below are the average annual premiums for drivers with speeding tickets, at-fault accidents, and DUIs:
- USAA: $1229 for speeding tickets, $1553 for at-fault accidents, and $1473 for DUIs
- State Farm: $1741 for speeding tickets, $1885 for at-fault accidents, and $1741 for DUIs
- Erie: $1637 for speeding tickets, $2023 for at-fault-accidents, and $2408 for DUIs
- Nationwide: $1926 for speeding tickets, $2431 for at-fault accidents, and $1926 for DUIs
- Allstate: $2157 for speeding tickets, $2773 for at-fault accidents, and $2157 for DUIs
- Travelers: $2536 for speeding tickets, $2536 for at-fault accidents, and $3305 for DUIs
- Esurance: $2523 for speeding tickets, $3590 for at-fault accidents, and $2860 for DUIs
- GEICO: $1826 for speeding tickets, $2965 for at-fault accidents, and $5232 for DUIs
- Nationwide: $3380 for speeding tickets, $3747 for at-fault accidents, and $5183 for DUIs
- MetLife: $4335 for speeding tickets, $8966 for at-fault accidents, and $9171 for DUIs
Due to the high auto insurance costs in Philadelphia, many drivers decide to purchase minimum coverage in an effort to save money. While it’s important to keep your car insurance cost low, you should have enough coverage to prevent significant financial losses if you happen to cause a major accident. Look for an auto insurance provider that offers good value for money instead of buying the cheapest policy you can find.
Check this out if you need additional information, resources, or guidance on car insurance.
Sources:
Cheap Auto Insurance Quotes in Philadelphia, PA (2021) | insurify.com
Best Car Insurance Rates in Philadelphia, PA | quotewizard.com
Philadelphia, PA Car Insurance | thezebra.com
Compare the Cheapest Car Insurance Quotes in Philadelphia, PA | moneygeek.com
Car Insurance For Teens: Everything You Need To Know | caranddriver.com
How to Lower Your Car Insurance Rates | caranddriver.com
Car Insurance Companies: Everything You Need to Know | caranddriver.com
Car Insurance | caranddriver.com
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