Finding dependable, low-priced auto insurance is not the easiest thing to do, and figuring out which company offers the cheapest car insurance rates for good drivers involves even more rate comparisons. Each company has a different formula to set policy rates, so we’ll take a look at the most affordable car insurance companies in Pennsylvania.
It’s a good idea to know that Pennsylvania car insurance rates are determined by lots of factors which can substantially change the price of coverage. Events such as a birthday, buying a higher-value vehicle, or getting a ticket for careless driving can trigger rate changes resulting in some rates now being cheaper than others.
Cheapest Insurance Rates for Good Drivers
|Rank||Company||Cost Per Year|
|16||Mutual Benefit Group||$1,411|
|Get a Custom Quote Go|
General Casualty quotes some of the best car insurance rates in Philadelphia at around $726 a year. Travelers, Erie, USAA, and Penn National would also be considered some of the cheapest Philadelphia, PA insurance companies.
As shown in the rates above, if you are currently insured with USAA and switched to General Casualty, you could see an annual savings of around $83. Pennsylvania drivers with Penn National may save as much as $106 a year, and Auto-Owners customers might cut rates by $267 a year.
If you want to find out if you’re overpaying, click here to start your free quote or quote rates from the companies below.
Understand that those estimates are averages for all ages of drivers and types of vehicles and do not take into consideration a specific zip code for good drivers. So the company that can offer you the best rate may not even be in the list above. That emphasizes why you need to compare rates from as many companies as possible using your own specific driver and vehicle information.
One of the more important considerations that are looked at to determine the annual cost of car insurance is where you live in Philadelphia. More densely populated places tend to pay slightly more, whereas areas with less people or fewer weather incidents benefit from having to pay less for coverage.
The following table sorts the priciest cities in Pennsylvania for good drivers to purchase car insurance in. Philadelphia is listed at #1 with a yearly cost of $2,057 for car insurance, which is about $171 each month.
|11||Municipality of Monr||$1,081|
|Find Cheaper Insurance Go|
Prices are approximated as the specific geographic location can revise price quotes considerably.
The vehicle driven is one of the primary factors that determines if you can find low-cost insurance for good drivers. Vehicles with average performance, good safety features, or a low likelihood of having liability claims will cost significantly less to insure than adrenaline junky models. The information below presents auto insurance costs for some of the more affordable vehicles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$4,320|
|Honda Odyssey LX||$4,737|
|Ford Explorer XLT 4WD||$4,836|
|Ford Escape Limited 2WD||$4,845|
|Toyota Tacoma 2WD||$5,014|
|Toyota RAV4 Limited 4WD||$5,112|
|Ford F-150 SVT Raptor Super Cab 4WD||$5,206|
|Dodge Grand Caravan Crew||$5,213|
|Dodge Ram Quad Cab ST 2WD||$5,210|
|Honda Accord EX-L 4-Dr Sedan||$5,281|
|Toyota Camry XLE||$5,388|
|Hyundai Elantra SE 4-Dr Sedan||$5,395|
|Nissan Rogue SL 2WD||$5,487|
|Ford F-350 XLT Crew Cab Lariat 2WD||$5,679|
|Chevrolet Malibu LT||$5,716|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$5,735|
|Ford Focus SE 2-Dr Coupe||$5,763|
|Hyundai Sonata SE 4-Dr Sedan||$5,772|
|Chevrolet Equinox LS AWD||$5,768|
|Chevrolet Silverado 2500HD LT Crew Cab Diesel 4WD||$5,857|
|GMC Sierra 2500HD SLE Regular Cab 2WD||$5,863|
|Ford Edge Limited AWD||$5,913|
|Compare Rates Now Go|
Prices based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Pennsylvania minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Premium amounts do not factor in zip code location which can impact prices noticeably.
Looking at the data, you can expect makes and models like the Honda CR-V, Honda Odyssey, Toyota Prius, Ford Explorer, and Ford Escape are the more affordable vehicles to insure for safe drivers.
Choosing the best auto insurance provider is difficult considering how many companies provide coverage in Philadelphia. The company ratings below may help you analyze which providers to look at purchasing from.
These ratings are for the companies with a significant amount of written premium nationwide, so companies that have a smaller presence will not be included in these rankings. If you’d like to compare prices from many more Pennsylvania auto insurance companies, just click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|Compare Rates Now Go|
Data Source: Insure.com Best Car Insurance Companies
The illustration below demonstrates how deductible levels can impact insurance costs when getting quotes for cheap insurance for good drivers. The costs are based on a single male driver, comp and collision included, and no additional discounts are factored in.
The chart above illustrates that a 30-year-old driver could reduce rates by $414 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $620 by selecting a $1,000 deductible. Younger drivers, like the 20-year-old category, could save up to $1,222 or more just by using higher deductibles.
If you make the decision to raise deductibles, it’s a good idea to have enough spare savings to enable you to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Difference between liability only and full coverage rates
Finding the cheapest car insurance is probably important to the majority of drivers, and an effective way to save on the cost of insurance for good drivers is to not pay for full coverage. The illustration below illustrates the difference between insurance rates with and without full coverage. The costs are based on no tickets, no at-fault accidents, $500 deductibles, drivers are single, and no discounts are taken into consideration.
On average, comp and collision coverage costs $2,070 per year more than just buying liability insurance. That proposes the question if buying full coverage is worth the money. There is no exact formula for eliminating physical damage coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is more than around 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your vehicle’s replacement cost is $11,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $10,000 after you pay the deductible. If you are currently paying more than $1,000 a year for your policy with full coverage, then you might want to think about dropping full coverage.
There are a few situations where buying only liability insurance is not financially feasible. If you still have a lienholder on your title, you have to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not eliminate full coverage.
Low rates can quickly become overpriced
Philadelphia car insurance rates are impacted by many things that can increase the cost of having a policy. Simply turning a year older, buying a different vehicle, or having an accident may cause policy rate changes resulting in some companies being affordable when they were higher priced. In addition, insurers change rates as often as every quarter to reflect underwriting profits or losses. Heavier than normal losses can cause more expensive premiums, while less frequent claims can result in lower-priced Philadelphia car insurance rates.
For instance, the data below shows rates for the cheapest car insurance in Philadelphia, PA for a 40-year-old female driver with a clear driving record, no claims, and excellent credit. When quoting prices based on her current risk profile, General Casualty quotes the lowest car insurance rates in Philadelphia at $1,683 per year. This is $26 more than the average policy premium paid by Pennsylvania drivers of $1,657. Erie, Travelers, Penn National, and USAA round out the rest of the cheapest Philadelphia, PA auto insurance companies.
In this example, we will give the driver from the first example an accident surcharge, a lower credit rating, and a blemish on her driving record. Since each auto insurer has a different process for setting rates, comparing quotes may now result in a different ranking of affordable Philadelphia car insurance companies as shown below.
Auto-Owners now has the cheapest rate in Philadelphia, PA with Atlantic States, Donegal Mutual, Erie, and Allied now rounding out the top five. This example proves why Pennsylvania drivers need to perform a complete rate comparison to get the most budget-friendly auto insurance quotes for good drivers.
Auto insurance prices can be altered by many things and change dramatically, so the best price the last time you checked may now be wasting a lot of money.