Average car insurance cost in Philadelphia, PA

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The average car insurance cost in Philadelphia, Pennsylvania is $2,782 per year, according to Insure.com data. This is $910 more than the average auto insurance cost in Pennsylvania and $887 more than the national average, as analyzed by Insure.com.

The rates can vary wildly depending on where they are filed. City demographics, including population density and average resident age, will affect how much money you spend on premiums which could make it cheaper or more expensive than other areas with different factors like accident rates, theft and vandalism rates, etc.

The article covers information on – the cheapest car insurance providers in Philadelphia, the average car insurance rates by age, gender and how much is car insurance in Philadelphia based on coverage limits. Whether you’re a new driver or have been driving for years, this article can help you find the best deal on cheap car insurance in Philadelphia. Read on to learn more.

Cheap car insurance companies in Philadelphia

Travelers offers the cheapest car insurance in Philadelphia, at an average of $1,585 per year with full coverage limits of 100/300/100.

The second cheapest company in Philadelphia is Nationwide, offering car insurance rates at $2,442 per year.

As mentioned earlier, car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in Philadelphia before deciding on the policy that matches your requirements.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Philadelphia, Pennsylvania:

Read about the best car insurance companies.

Average car insurance cost in Philadelphia by coverage limits

The average car insurance rates in Philadelphia by coverage type are as follows:

• State minimum coverage: $648 per year (limits of 25/50/25)
• Liability-only coverage: $966 per year (limits of 50/100/50)
• Full coverage: $2,782 per year (limits of 100/300/100)
• Non-owners coverage: $411 per year

In many states, drivers are legally required to maintain state minimum coverage. However, these requirements vary by state. However, the state minimum coverage does not protect vehicles listed on your policy in an at-fault accident.

It’s advisable to choose full coverage to avoid the risk of inadequate coverage and out-of-pocket expenses. You can also choose non-owners coverage if you often borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Philadelphia

Based on an analysis by Insure.com, female drivers in Philadelphia, Pennsylvania pay an average annual car insurance premium of $2,786. In comparison, male drivers pay $2,777 annually, which is $9 less than what female drivers pay.

According to the Insurance Information Institute, statistics indicate that women are generally considered safer drivers than men. Also, women pay less for car insurance due to the lower rate of severe accidents.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Philadelphia

Car insurance rates in Philadelphia, are highest for teens at $8,304 per year or $692 per month. According to the Insurance Information Institute, the rates are higher for teens (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road. To address this, there are specific driving laws for teens to help them drive better. Additionally, parents can potentially reduce teen insurance rates by adding them to their existing auto insurance policy.

As teens age and build a positive driving history, it’s common for car insurance rates to decline. Young adults typically pay $4,427 annually for their car insurance, which is $3,877 less than what teens pay for their insurance coverage.

In Philadelphia, adult drivers pay an average of $2,792 per year for car insurance, while senior drivers pay $2,737 annually.

The rates for adults and seniors are notably lower compared to the rates for teens and young adults as they are more likely to obey the speed limits and follow the rules of the road, as per the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below depicts the average annual rates for drivers of different age groups:

Car insurance rate trends in Philadelphia

Examining the trends in car insurance rates in Philadelphia, Pennsylvania, there was an upward trend from 2022 to 2023. Between 2022 and 2023, rates increase overall by 5% or $144.

The table below illustrates the trend over the three years:

Conclusion

In conclusion, the insurance rates in Philadelphia, are higher than the average insurance cost in Pennsylvania. Shopping around and taking advantage of available discounts, drivers in Philadelphia can find affordable car insurance options. Many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.