How Much is Philadelphia Auto Insurance for Drivers Requiring a SR22?

The words “bargain” and “insurance” really shouldn’t be used in the same sentence, especially when you are searching for the lowest insurance rates for drivers requiring a SR22. In an attempt to save some money, let’s open your eyes to a few of the factors the can have a considerable influence on auto insurance premiums, and find a few ways to reduce the cost of the next policy you buy.

Figuring out which company quotes the lowest-priced auto insurance rates for drivers requiring a SR22 will involve a tad more effort than just picking a company at random. Every insurance provider has their own formula to determine rates, so let’s look at the rankings for the lowest cost auto insurance companies in Philadelphia, PA.

It’s a good idea to be aware that Philadelphia auto insurance rates are influenced by many factors that will increase or decrease the price you have to pay. Improving your credit rating, increasing deductibles, or getting a reckless driving citation can trigger price changes that can make some companies more affordable than before.

Best Car Insurance Prices for SR22 Drivers

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Who has the cheapest car insurance in Pennsylvania?
Rank Company Cost Per Year
1 General Casualty $718
2 Erie $792
3 Travelers $803
4 USAA $817
5 Penn National $832
6 Auto-Owners $963
7 Atlantic States $1,016
8 Amica $1,022
9 Donegal Mutual $1,091
10 GEICO $1,157
11 State Farm $1,174
12 Allied $1,190
13 California Casualty $1,234
14 State Auto $1,267
15 Encompass $1,357
16 Mutual Benefit Group $1,397
17 Nationwide $1,447
18 Harleysville $1,452
19 Progressive $1,457
20 Chubb $1,551
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General Casualty may have some of the best car insurance rates in Philadelphia at around $718 annually. Erie, Travelers, USAA, and Penn National also make the cut as some of the lowest-priced Philadelphia, PA insurance companies.

In the rate table above, if you are a policyholder with Travelers and switched to General Casualty, you may realize savings of roughly $85. Drivers with USAA could save as much as $99 a year, and Penn National policyholders might realize rate reductions of up to $114 a year.

Understand that those premiums are averaged for all insureds and vehicles and do not factor in an exact location for drivers requiring a SR22. So the auto insurance company that can offer you the lowest price may not even be in the top 30 companies shown above. That affirms the importance of why you need to compare as many prices as possible using your own driver data and vehicle information.

The make and model of vehicle driven is probably the largest consideration when consumers are trying to find low-cost insurance for drivers requiring a SR22. Vehicles with lower acceleration and performance, good safety features, or a low likelihood of having liability claims will cost significantly less to insure than high performance models.

The information below illustrates auto insurance premiums for a handful of the most cost-effective automobiles to insure in Pennsylvania.

Cheapest Vehicles to Insure in Philadelphia, PA
Vehicle Make and Model Estimated Cost for Full Coverage
Honda CR-V EX 2WD $15,558
Ford Escape XLS 2WD $15,721
Ford Edge SE 2WD $16,890
Toyota Prius $16,941
Volkswagen Jetta SE 2.5 Station Wagon $17,071
Ford Explorer XLT 4WD $17,804
Toyota Camry LE $17,878
GMC Sierra SLE Crew Cab 2WD $17,888
Dodge Grand Caravan Hero $17,878
Ford F-150 XLT Crew Cab 4WD $18,045
Honda Odyssey EX $18,236
Toyota RAV4 4WD $18,421
Toyota Tacoma Double Cab 4WD $18,429
Chevrolet Impala LTZ $18,695
Chevrolet Silverado LTZ Extended Cab 4WD $18,862
Jeep Grand Cherokee Limited 4WD $18,872
Dodge Ram 3500 Crew Cab ST 2WD $19,205
Ford Focus SEL 4-Dr Sedan $19,210
Nissan Altima 2.5 S 4-Dr Sedan $19,275
Hyundai Elantra GLS 4-Dr Sedan $19,285
Kia Optima LX $19,437
Chevrolet Equinox LTZ AWD $19,461
Chevrolet Malibu LTZ $19,623
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Prices above based on single male driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Pennsylvania minimum liability limits. Discounts applied include multi-vehicle, multi-policy, and homeowner. Rates do not factor in vehicle location which can alter rates greatly.

Looking at the rates, we can infer that models like the Honda CR-V, Ford Escape, Ford Edge, Toyota Prius, and Volkswagen Jetta are most likely to be some of the most economical vehicles to insure for high risk drivers. Prices will be more expensive just due to the fact that there is more inherent risk for drivers requiring a SR22, but in general those specific models will probably have the cheapest car insurance rates that you’ll find.

Does it make sense to buy full coverage?

Lowering the price of auto insurance is the goal of the majority of people, and one common way to pay less for insurance for drivers requiring a SR22 is to not buy full coverage. The illustration below illustrates the difference between premium costs with full physical damage coverage compared to only buying the minimum liability limits required in Pennsylvania. Data assumes no claims or driving citations, $100 deductibles, single marital status, and no discounts are applied to the premium.

If we average the cost for ages 20 through 70, physical damage insurance costs $1,889 per year over and above liability only. Many people question if buying full coverage is a good investment. There is no definitive rule to delete comprehensive and collision coverage on your policy, but there is a general school of thought. If the yearly cost of comp and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then it could be time to drop full coverage.

There are a few cases where dropping physical damage coverage is not a good plan. If you still have a loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not buy liability only.

The diagram below highlights how deductible choice can raise or lower annual premium costs when trying to find cheap insurance for drivers requiring a SR22. The data is based on a married female driver, comprehensive and collision coverage, and no discounts are factored in.

The chart above illustrates that a 40-year-old driver could pocket $226 a year by increasing from a $100 deductible to a $500 deductible, or save $340 by changing to a $1,000 deductible. Youthful drivers, such as the 20-year-old example, could possibly save as much as $558 annually just by choosing higher deductibles when buying full coverage. When choosing a higher deductible, it will now be necessary to have enough in a savings account to be able to cover the extra out-of-pocket expense that is associated with using high deductibles.

Best auto insurance in Philadelphia

Choosing the best auto insurance company can be rather challenging considering how many different companies there are to choose from in Philadelphia. The ranking data listed below can help you pick which providers to look at purchasing a policy from. The rankings below only include major nationwide insurance companies, so smaller companies are not included in the list.

Top 10 Large Car Insurance Companies Overall in Philadelphia

  1. The General
  2. Titan Insurance
  3. The Hartford
  4. Progressive
  5. Travelers
  6. State Farm
  7. Farmers Insurance
  8. Erie Insurance
  9. Safeco Insurance
  10. USAA

Top 10 Large Car Insurance Companies in Philadelphia Ranked by Claims Service

  1. Progressive
  2. USAA
  3. Liberty Mutual
  4. State Farm
  5. GEICO
  6. Titan Insurance
  7. Nationwide
  8. Allstate
  9. The General
  10. 21st Century

The insurance agents in Philadelphia listed below are a good start to answer your questions and help you decide which is the best policy, as some people have coverage questions and would like to have a consultation when buying car insurance for drivers requiring a SR22. It can be challenging to find the cheapest car insurance policy, and insurance agents can give you satisfaction knowing your coverage gives you enough coverage when you need it. To locate an agency close to where you live, click the button link following the list.

Alden Thomas – State Farm Insurance Agent
7983 Oxford AvePhiladelphia, PA 19111(215) 745-3700

Jeff Gottesman – State Farm Insurance Agent
9551 Bustleton AvePhiladelphia, PA 19115(215) 725-1000

The Gannon Insurance Agency Inc
2704 Street RdBensalem, PA 19020(215) 891-9990

Jack Stabler – State Farm Insurance Agent
6726 Torresdale AvePhiladelphia, PA 19135(215) 331-4300

The Miles Insurance Agency Inc
7100 Cresheim RdPhiladelphia, PA 19119(215) 753-7770

Find a Philadelphia, PA insurance agent near you

How to find the cheapest auto insurance for drivers requiring a SR22

Lowering your rates is not difficult, and here are some thrifty suggestions that can help Pennsylvania drivers buy low-cost auto insurance.

The last tip in the list is extraordinarily crucial, as was emphasized in the prior article. Prices charged by auto insurers fluctuate constantly, so don’t be hesitant to switch to a new company if a cheaper price is available. Staying with the same company for years is fine, but it’s not recommended if that dedication is costing potentially thousands of dollars a year. In just a couple of minutes you could shop around and find cheaper car insurance for drivers requiring a SR22 in Philadelphia.