Best Cheap Homeowners Insurance in PittsburghMay 24, 2021
As locals know, Pittsburgh manages a big city ambiance in a small amount of space. Whether bought as a long-term investment or a home to settle down in, many people choose to protect their properties with homeowners insurance. Based on Bankrate’s sample profile, homeowners insurance in Pittsburgh costs an average of $741 per year for a $250,000 dwelling coverage policy. Between 2015 and 2019, the city had an owner-occupied housing rate of nearly 50%.
When looking for the best home insurance, it helps to know what you want from the policy and what you expect from the insurer. With these things in mind, it becomes easier to compare companies and find the right one for you. To make the process easier, we have taken some of the larger, more popular home insurance companies in the area and compared them by average rates and J.D. Power scores. We also assessed each company’s available discounts to find the best cheap home insurance companies Pittsburgh has for its residents.
Best cheap home insurance companies Pittsburgh
After comparing some of the most popular insurance companies that provide cheap home insurance in Pittsburgh, we arrived with the five companies below as our top picks for the best cheap home insurance companies. The companies were compared by market share, average rates, J.D. Power scores and discounts.
|Home insurance company||Average annual premium for $250k dwelling coverage||J.D. Power score|
|Allstate||$715||829 / 1,000|
|Erie||$548||839 / 1,000|
|Farmers||$788||814 / 1,000|
|Nationwide||$718||808 / 1,000|
|*USAA||$730||*889 / 1,000|
*Due to membership eligibility restrictions, USAA is considered rank-ineligible by J.D. Power.
Allstate is one of the top few home insurers by size in the United States. Based on our profile, they offer some of the lowest average rates in the Pittsburgh area while also scoring above most on the J.D. Power report. Allstate offers extensive home insurance coverage options and a long list of possible discounts. The company provides ease of access through live agents, its web portal and a mobile app.
Learn more: Allstate insurance review
Erie insurance has been in the industry since 1925 and offers a wide variety of insurance products. Its homeowners insurance policies have numerous options for add-ons beyond the basic plan. It offers a few discounts, including such options as home safety feature discounts and policy bundling. The company’s J.D. Power score of 839 speaks to the customer satisfaction that Erie policyholders have with the provider. Beyond these merits, Erie offers the lowest average rate of our top five home insurance companies for Pittsburgh, at nearly $200 below the local average.
Learn more: Erie insurance review
Farmers is one of the older names in the insurance industry and provides a broad array of home insurance products. It offers various customizations on its policies that can help to personalize each homeowner plan for Pittsburgh residents. Although Farmers’ rates are among the highest on our list, Farmers offers some discounts to help bring that cost down.
Learn more: Farmers insurance review
Nationwide has a history of customer satisfaction in keeping with its J.D. Power score. However, its average rates, based on the Bankrate profile, were only slightly below the local average. Still, the company has robust home insurance policies, including options that many Pittsburgh homeowners are likely to enjoy like water backup coverage. Additionally, its high level of customer satisfaction marks it as one of the best cheap home insurance companies in Pittsburgh.
Learn more: Nationwide insurance review
USAA has some of the best historical ratings on the J.D. Power Home Insurance Study and is known for providing quality products. However, most of their services are restricted to military members and their immediate families, making it ineligible for official rankings. The company’s average rates for the area are close to the local average.
USAA’s discount list is less robust than some of its competitors. Still, quality and ratings mean that USAA fits for consideration as one of the best cheap home insurance companies in Pittsburgh for those who qualify.
Learn more: USAA insurance review
Home insurance coverage options in Pittsburgh
Unless you are currently on a mortgage for your home, the odds are good that you are not required to maintain a homeowners insurance policy. The general idea is that if the home is your property, paid in full, then it is your risk. However, with this in mind, it highlights why a homeowners policy might be a good idea even if it is not required. If a lender would require it to protect their investment, why should you not? Below are some of the coverage options that might be helpful for homeowners in Pittsburgh.
- Hurricanes and storms: Basic homeowners policies cover many forms of hurricane damage, but the details and exclusions can vary between companies. Homeowners in Pittsburgh should consider ensuring that they have enough of the right kind of coverage to deal with hurricane risks.
- Flood insurance: Typically, flood insurance must be purchased separately if you are interested in the coverage. It is often the only way to insure your property against flood damages. Pittsburgh is prone to flooding and as such, homeowners may want to consider adding flood insurance to their plan.
- Sewer backup: Water damage from sewer backups is not generally covered by basic homeowners or flood insurance. Instead, coverage usually has to be purchased as an add-on.
Home insurance discounts in Pittsburgh
It is helpful to find a way to save on regular costs like insurance. Thankfully, many insurance companies provide a variety of discounts. However, not all discounts are equal. They vary in how difficult it might be for some customers to be eligible or by how much they can reduce your premiums.
- Multi-policy: Most insurance companies offer a notable discount to customers who hold more than one policy with them. So, if you purchase your home and auto insurance from the same company, you may get a discount on both.
- New homeowner: If you have bought your home within the last year, you may qualify for a discount as a new homeowner. Not all companies offer this discount, but it is one of the easiest ways to save on your home insurance as a new homeowner.
- Home protection devices: Many insurance companies will offer discounts for those who have basic protective devices in their homes, such as smoke and carbon monoxide detectors, burglar alarms and sprinklers.
- Claim-free: It is common for insurance companies to offer discounts or rebates to customers who go specific lengths of time without filing a claim on their policy. The required duration that a customer has to be claims-free varies between companies.
Some discounts are easier to qualify for than others, yet offer minimal savings. Others may provide significant savings, but are harder to obtain. In the middle are those that are relatively easy to achieve while still offering notable savings.
Policy building, also known as multi-policy discounts, and home protection devices are typically two of the easiest ways to save on premiums. Not only that, but depending on the company, both deals may offer significant savings.
Frequently asked questions
What is the best home insurance company?
The best company for one person is not always the best for another. Each policy and customer is different. Fortunately for Pittsburgh homeowners, there are plenty of great home insurance companies in Pennsylvania.
How much does home insurance in Pittsburgh cost?
Based on the profile we used, home insurance in Pittsburgh costs an average of $741 per year for a $250k dwelling coverage plan. However, some of the companies reviewed offered rate averages as low as $548 per year for the same profile. The exact costs of home insurance will vary between customers, policies and companies.
How much home insurance do I need in Pittsburgh?
The easiest way to think about how much home insurance to get is to consider the financial value of your home and possessions. Many people aim to match the coverage of their insurance policy to this value. Coverage for the structure of the home itself, known as dwelling coverage, makes up the majority of a basic homeowners policy.
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and homeriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
Rates are determined based on 2020 Quadrant Information Services data.