Car insurance rates in different cities in the United States vary from one another, and unfortunately, car insurance for drivers living in Philadelphia PA is costly.
So why then do drivers living in Philly undergo such high premiums for an average insurance policy? Some answers involves the highest accident rates and vehicle theft rates in the nation.
The car insurance company considers several factors before giving their customer premium quotes. Keep reading to find out why and who the best car insurance companies in Philadelphia are:
Why automobile insurance in Philadelphia is so damn expensive
More drivers leads to Higher Premiums
Traffic jams caused entirely by the magnitude of vehicles on the road is common on highways surrounding Philadelphia.
As stated by the National Highway Traffic Safety Administration (NHTSA), the Schuylkill Expressway (I-76) is considered one of the most dangerous roads in the country.
This highway is notorious for the long waits during rush hour and a large number of vehicles that travel it every day, upwards of 163,000 in Philadelphia County alone.
The Schuylkill Expressway is known for a large number of accidents, critical injuries, and fatalities that take place on it every year. Along with undesirable conditions, like continual congestion and construction, plus aggressive, careless drivers make the Schuylkill an extremely dangerous road for anyone to travel.
I-95 and US-1 (Roosevelt Boulevard) are also known as the most dangerous highways in Philadelphia to travel. Along with US 1 (Roosevelt Boulevard).
The number of vehicles, plus aggressive, careless drivers sharing these roadways increases the chances drivers will get into an auto accident, which in turn increases the risk for insurance companies. And the insurers are more than happy to pass the extra cost along to consumers, which then creates higher overall premiums.
You’re paying for the Uninsured Motorists
Drivers who abide by the law and pay for auto insurance, also pay for those who don’t have insurance, so they shell out a more than they should have to.
Once again, the automobile insurance companies pass the increased risk of uninsured drivers onto the law-abiding citizens who have car insurance coverage in the form of more expensive premiums. And with Philadelphia having a large number of uninsured drivers on its roadways, motorists who drive their vehicles legally have to pay more for coverage.
Best Car Insurance Companies In Philadelphia
For most of us, when shopping around for car insurance, the price is an important consideration. But, buying car insurance is obviously more than the price of the policy, and it’s essential also to find a reputable company that provides the proper coverage you need and offers qualifying discounts.
Erie Insurance Group
For overall performance, Erie Insurance group is the top pick among Philadelphia residents. Most people prefer this company, although it does not top all the requirements of car insurance, because of its affordability.
Unlike other companies based in Philadelphia, Erie Insurance Group is the lone provider with the lowest rate for state minimum insurance.
This, however, is not the only reason why it is the top choice. The company offers a large discount for millennial drivers, multi-car holders, reduced usage, which the citizens appreciate. According to its latest user rating, this company is rated 94 out of 100.
USAA Auto Insurance
USAA offers some worthwhile rates for its policyholders for auto insurance. And young drivers can save the most money by choosing USAA for their car insurance provider.
USAA remains to be the top company that offers the cheapest car insurance in Philadelphia. Along with some of the best customer services in the auto insurance industry. Their high ratings for claims satisfaction and a very low rate of consumer complaints shows that customers receive great customer service from USAA.
The downside to USAA is they primarily only offer insurance services to military personnel and their qualifying family members. Meaning that the majority of people cannot take advantage of USAA’s affordable rates.
NJM Insurance Co.
The first NJM Insurance Company came into the insurance scene in New Jersey about a decade ago. When it branched out in Philadelphia, they also delivered superb auto coverage to its customers living in PA.
New Jersey Manufacturing Insurance Group (NJM) is well-liked by many customers for its affordable premiums, policy coverage, and overall value.
In particular, this is an outstanding insurance company for young and single male drivers to think about because sample premium costs for this demographic are about 31% less than other insurers.
If you are looking for the best car insurance company concerning your insurance coverage, NJM is the place to go. They offer a wide range of premiums, making sure to put importance on their customers’ satisfaction more than anything else.
Although drivers living in Philadelphia pay the highest car insurance premiums in the state, and it doesn’t matter where you live, you can save a considerable amount of money if you comparison shop.