In Pennsylvania, the average homeowner’s policy costs $730 a year for $250,000 in-dwelling coverage. That’s substantially lower than the national average yearly premium of $1,312. Also, Pennsylvania homeowners pay less than those in nearby states like New York, in which the average premium is about $987 per year, and Maryland, in which coverage costs around $1,124 per year. In Pennsylvania, low insurance premiums might be partly the result of Pennsylvania’s low average house value.

If you are looking for a trusted company that provides reasonable cost for homeowner’s insurance, contact Steely & Smith Insurance now at (215) 345-9410!

Pennsylvania’s options for home insurance coverage 

Pennsylvania residents might want to consider house insurance add-ons, protecting their belongings and property against the Keystone State’s unique perils. Some types of coverage that PA homeowners may consider involve:

• Flood insurance: Typically, flood insurance coverage must be separately purchased since flood-associated damages aren’t covered by standard home policies. Flood coverage is provided through FEMA’s (Federal Emergency Management Agency’s) NFIP (National Flood Insurance) program and through private insurers. If you reside within a high-risk flood region, a flood policy might be needed.
• Replacement cost coverage: Choosing replacement cost coverage might give you sufficient coverage to buy a new version of destroyed or damaged personal property at today’s prices. Also, you may qualify for replacement cost coverage for a home’s structure, which might help to completely cover rebuilding expenses if your home gets destroyed.
• Sinkhole insurance: PA is amongst the 6 states most susceptible to sinkhole losses. But the damage isn’t covered through standard home insurance policies. Adding sinkhole coverage might save you a lot of money should a sinkhole damage your house.
• Water backup coverage: A little bit of water damage automatically is covered by house insurance policies. However, if water backs up inside a drain or sewer line and damages your property, you must have this endorsement to have coverage.

Have questions? Please get in touch with Steely & Smith Insurance anytime! Our homeowner’s insurance will help during times of need. Please feel free to contact us today if you live in the Doylestown, PA area at (215) 345-9410.