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The average car insurance cost in Philadelphia, Pennsylvania is $2,638 per year, according to 2022 Insure.com data. This is $1193 more than the average auto insurance cost in Pennsylvania and $956 more than the national average, as analyzed by Insure.com.
| Average cost in Philadelphia | Average cost in Pennsylvania | National average cost |
|---|---|---|
| $2,638 | $1,445 | $1,682 |
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 $1,743 per year with full coverage limits of 100/300/100.
The second cheapest company in Philadelphia is Nationwide, offering car insurance rates at $1,844 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:
| Company Name | Average annual cost | Average monthly cost |
|---|---|---|
| Travelers | $1,743 | $145 |
| Nationwide | $1,844 | $154 |
| State Farm | $2,122 | $177 |
| Geico | $2,234 | $186 |
| USAA | $2,256 | $188 |
| Auto-Owners | $2,491 | $208 |
| Progressive | $2,534 | $211 |
| Erie Insurance | $2,606 | $217 |
| Allstate | $2,653 | $221 |
| Farmers Insurance | $5,899 | $492 |
Read about the best car insurance companies for 2022.
Average car insurance cost in Philadelphia by coverage limits
In Philadelphia, the average car insurance rates based on coverage types are as follows:
- State minimum coverage: $790 per year (limits are 25/50/25)
- Liability only coverage: $1,108 per year (limits are 50/100/50)
- Full coverage: $2,638 per year (limits are 100/300/100)
- Non-owners coverage: $694 per year
In most states, drivers must have the state minimum coverage to drive legally, but these vary by state. However, state minimum coverage does not cover any vehicles listed on your policy in an at-fault accident.
To avoid compromising on the coverage and pay out-of-pocket expenses, it is better to have full coverage or non-owner coverage if you don’t own a car but borrow or rent one frequently.
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Average car insurance rates by gender in Philadelphia
The average car insurance rate for a female driver in Philadelphia, Pennsylvania, is $2,638 per year.
While the rate for a male driver is $2,638 per year, which is same as what female drivers pay, according to a 2022 rate analysis by Insure.com.
Women are considered to be safer drivers than men, and statistics have proved this, according to the Insurance Information Institute. They often pay less for auto insurance because of their lower rate of severe accidents than men.
Read more on how gender affects car insurance rates.
Average car insurance rates by age in Philadelphia
In Philadelphia, car insurance rates are the highest for teens, at $10,732 per year or $894 per month. The rates are higher for teenagers (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road, according to the Insurance Information Institute. There are driving laws for teens to help them drive better. Also, teen insurance rates can be lowered by adding teens to a parent’s auto insurance policy.
Car insurance rates are bound to decrease as teens grow older and earn a good driving record. Young adults pay $4,674 per year for their car insurance which is $6058 less than what the teens pay for their insurance policy.
The car insurance rates in Philadelphia for adult and senior drivers are $2,704 and $2,554 per year respectively.
The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says 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:
| Age group | Average annual rates |
|---|---|
| Teens (16- to 19-year-olds) | $10,732 |
| Young adults (20- to 24-year-olds) | $4,674 |
| Adults (25- to 55-year-olds) | $2,704 |
| Seniors (60- to 75-year-olds) | $2,554 |
Car insurance rate trends in Philadelphia
If we look at the car insurance rates trends in Philadelphia, Pennsylvania, it was on an upward swing from 2016 to 2019. From 2019 to 2022, the rates decreased overall by 16%, or $491.
The table below shows the trend for three years:
| 2016 rates | 2019 rates | 2022 rates |
|---|---|---|
| $2,672 | $3,129 | $2,638 |
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. Additionally, 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 June 2022.
- Insurance Information Institute. “Auto insurance for teen drivers,” Accessed June 2022.
- Insurance Information Institute. “Senior driving safety and tips,” Accessed June 2022.
Methodology
Insure.com, with the help of Quadrant Information Services, gathered data for car insurance rates in Philadelphia, Pennsylvania. The averages are rounded to their nearest sums. The data is based on the sample profile of a 40-year-old male driver who commutes 12 miles to work. All rates are based on the profile of a driver with a clean driving record, good insurance score, and full coverage policy.
The coverage limit for a full coverage policy is 100/300/100 liability with a $500 comprehensive and Collision deductible.
