Are you curious about renters insurance rates in Philadelphia? If you’re considering renting in the city of brotherly love, it’s good to know what to expect for insurance costs. In 2024, the average cost of renters insurance in Philadelphia is $212 per year. This amount translates to approximately $18 per month, which is 33.0% more than the national average of $159 per year. For renters, this means paying an additional $53 annually compared to the average across the United States.
Renters insurance serves as an essential safeguard for tenants in Philadelphia. With an average cost of $212 annually, it provides protection for personal belongings and liability coverage. While this may seem like an added expense, it can be a wise investment. Considering the cost of replacing furniture, electronics, and other possessions in the event of theft, fire, or natural disaster, renters insurance offers peace of mind.
In comparison to the national average, renters in Philadelphia do pay more for insurance. However, weighing the benefits of coverage against the cost, it can be a valuable asset. Ensuring that your belongings are protected in the city’s vibrant neighborhoods and historic streets is well worth the investment.
(Response: $212 per year, or around $18 per month, which is $53 more per year than the national average of $159 per year.)