An estimated 1,577,394 private and commercial vehicles call the roads of Philadelphia County their home. This number accounts for approximately 12% of all vehicles registered in the entire Commonwealth of Pennsylvania.
Half of Philadelphia’s adult residents commute to work by themselves. Due to heavy traffic, more than half of those commutes last for over 30 minutes - a statistic closely mirrored by all neighboring counties.
Motor vehicle fatalities in Philadelphia County statistically occur at a rate of 8 per 100,000 vehicles on the road: approximately 108 fatal crashes per year.
According to the Pennsylvania Department of Transportation, (PennDOT), in 2021 there were 10,464 crashes in Philadelphia County: with 133 of them fatal. Approximately 18% of fatalities in Philadelphia County are caused by alcohol-impaired driving.
Over 1.5 million vehicles registered in Philadelphia County need insurance coverage: Property Damage and Bodily Injury Liability are required for all vehicles on the road. Depending on the type of vehicle and its use (commercial or private), the additional required insurance may be: Private Auto, Commercial Auto, Comprehensive Coverage, Non-owners car insurance, Commercial Transportation, Inland Marine, Gap, Ride-sharing, Short-term car insurance, and so on.
Even though Pennsylvania is a no-fault state, where bodily injury is paid by each insured’s own coverage, the Commonwealth allows drivers to opt out of the “no-fault” coverage under the “choice no-fault” stipulation. Additionally, due to Pennsylvania’s use of the modified comparative negligence laws, the amount of fault of each party in an accident determines the amount of damage that the insurer will cover.
The amount of vehicles on the roads of Philadelphia County keeps going up year after year, and even though the uninsured rate of drivers across Pennsylvania remains at around 7 percent, the sheer proximity of a large volume of vehicles on heavily congested roads indicates the need for Uninsured Motorist coverage. You can’t tell what kind of coverage everyone around you has, until you’ve had an accident with them.
To discuss your auto insurance needs and to find affordable car insurance in Philadelphia County, contact a knowledgeable Property & Casualty (P&C) insurance agent licensed in the state of Pennsylvania.
Unlike the majority of Pennsylvania, where the homes are mostly (69%) owner-occupied, Philadelphia County’s approximately 702,489 dwelling units are split almost evenly, with 53 percent homeowners and 47 percent renters. Among the neighbors, Bucks County is more home-owner heavy, while Delaware County is the second-largest producer of rental properties, as a percentage of the overall real estate market.
Statewide, Pike County has the highest homeownership rate, with just 16% of homes for rent, while Philadelphia County is the Commonwealth’s leader with the highest percentage of its real estate for rent.
Over 23% of housing units in Philadelphia County experience housing problems, overcrowding, poor plumbing, or issues with the kitchen. In 1 out of 5 homes, residents spend more than 50% of their income on housing.
Over 700 thousand housing units in Philadelphia County need insurance coverage. At a minimum, all owners of these properties should have Homeowners, Condo insurance, and/or Business property insurance (for multi-housing units), to protect the underlying financial investment from possible loss or damage.
With over 330,000 housing units in Philadelphia County as rentals, landlords obtain Landlord Insurance, which covers the property itself and from the possible liability claims arising from the tenants and their guests. If you rent your home, your insurer must know about it or your claims can be denied.
Renters insurance Philadelphia: Tenants buy Renters Insurance coverage to protect their belongings from possible damage or loss while residing in a rented space. Average renters’ insurance is inexpensive and usually covers the tenant's property from theft and damages caused by fire, smoke, water, and vandalism. Most landlords in Philadelphia County will require Renters insurance as a condition of the lease.
Pennsylvania is one of the most flood-prone states across the nation, and more frequent flooding is expected to continue for decades to come. Furthermore, Philadelphia County is located at the lower end of major watersheds, which results in frequent flash floods of large areas.
All homeowners, landlords, and renters in the flood-prone areas of Philadelphia County should maintain appropriate insurance coverage to protect their property. Discuss your needs with a professional.
For consultation and to get a quote on Homeowners, Renters, Condo, Flood, and other types of insurance in Philadelphia County, contact a Property & Casualty (P&C) insurance agent licensed by the state of Pennsylvania.
A Pennsylvania P&C insurance agent:
analyzes your needs and restrictions,
reviews your current policy, to make sure that the coverages are reflective of the current needs and housing market - helps to update, if needed,
researches the locally available plans that fit your needs and is usually able to find a better deal than a consumer can find on their own,
checks for available savings and bundling discounts,
provides you with the available options of coverage,
explains how the differences between the options affect you once you start using each insurance product,
assists you with the application process.
In Philadelphia County, around 11% of adult residents under the age of 65 lack proper health insurance coverage, which is higher than the Commonwealth’s average (≈8%) and all its peer counties. The lowest uninsured rate among the neighbors is in Montgomery County, while the second highest is in Delaware County.
The highest uninsured adult rate in Pennsylvania is in Juniata County, with nearly 12 percent, while the lowest rate is observed in Butler County, at around 5% of the adult residents.
Around 24% of adults in Philadelphia County report problems with health. Nearly 32% of the Philadelphia County population do not participate in physical exercise activities. 33% of the Philadelphia County adult residents are considered obese (with a BMI of 30 or more), which is the highest among the peers and almost at par with the Pennsylvania state average. Montgomery County has the lowest obesity rate in the area - under 30 percent.
In 2022, 256,997 Philadelphia County residents were enrolled in Medicare, with the following utilization:
|PHILADELPHIA COUNTY - MEDICARE||Usage|
|Original Medicare Part A and Part B||37%|
|Medicare Advantage and Other Health Plan Part A and Part B Beneficiaries||53%|
|Medicare Part D (Medigap)||33%|
|Medicare Advantage Prescription Drug Plan||50%|
In 2022, there were 13 health insurers in Philadelphia County, offering affordable and frequently subsidized ACA health insurance on the Pennie, Pennsylvania’s Health Insurance Exchange.
Health insurance is the most important insurance coverage, and nearly 150 thousand adult Philadelphia County residents lack this necessity.
Pennsylvania is among the states that allow the sale of multiple types of health insurance and supplemental health insurance. This makes it easier for Philadelphia County residents to obtain coverage that fits their specific needs (both medically and financially): Group or Individual Marketplace ACA health insurance, various types of Short Term insurance (up to 3 years in coverage), Hospital Indemnity insurance, Accident & Health insurance, etc.
Low-income health insurance: If health insurance is not being purchased due to unaffordability, low-income residents of Philadelphia County are generally advised to apply for government health insurance subsidies, which can substantially lower the health insurance cost.
If you do not have pre-existing conditions, short-term health insurance may provide an alternative saving path. (* Some Pennsylvania multi-year short-term health insurance plans may cover certain pre-existing conditions after a year or more of coverage).
Discuss your health insurance needs with a knowledgeable state-licensed Pennsylvania health insurance professional with access to a variety of health insurance plans available to Philadelphia County residents. Offerings of health insurance coverage and its pricing may differ between zip codes.
A Pennsylvania health insurance agent: analyzes your health needs and restrictions, researches the locally available plans that fit your needs, provides you with the available options of coverage, and explains how the differences between the options affect you once you start using each insurance product. The agent researches the available discounts and bundling options, assists you with the application process, and at any time you need to make a change to the policy, or shop for replacement coverage.
Average life expectancy for the residents of Philadelphia County is around 75 years old, which is nearly 3 years lower than the 78-year Pennsylvania state average. Among the neighboring counties, Pennsylvania County also comes in last.
|COUNTY||Average Life Expectancy|
The longest average life expectancy in Pennsylvania is observed in Centre County, at over 82 years old, while the shortest average is seen in Fayette County, at under 75 years old.
In 2022, there were approximately 226,810 seniors (65 and older) residing in Philadelphia County.
In 2022, 47% of Americans did not have an active life insurance policy of any type.
Life insurance premiums are based on the age of the insured when the policy begins, among other factors. The younger you are when you lock in your best rate, the more you save in premiums over the course of the policy.
Over 20% of the adults in Philadelphia County smoke, and this habit will likely affect the life insurance costs of more than 250,000 adults, who may have to pay up to 4 times more compared to non-smokers. A smoker’s life expectancy is considered shorter, making them more of a risk than people who do not smoke.
Besides the death benefit, Cash Value life insurance can be used for Living Benefits by the insured while they are still alive, to borrow against it, or even used as a source of tax-free retirement income.
Funeral expense costs in and around Philadelphia County differ drastically. The average price of a funeral in Philadelphia County is around $6,100, which is lower than the Pennsylvania state average ($6,700) and by far the lowest among all its immediate neighbors. The next most affordable average funeral is in Montgomery County ($6,600), while Bucks County tends to be the most expensive, with an average of over $11,600. Delaware County splits the difference with a $9,300 average funeral cost.
Statewide, Clinton County tends to have the least expensive funerals averaging more or less $4,700, while Bucks County’s average is usually the most expensive in Pennsylvania.
With 46% of Americans dying with savings of less than $10,000, over 104 thousand Philadelphia County senior residents could be placing the unnecessary and frequently unbearable financial burden on family and friends. While grieving their loss, not only does the family need to plan the funeral, but quite frequently it also needs to pay for it too.
Besides the burial costs, the deceased frequently leave taxes and other debt behind for the family to take care of. Discuss your senior life insurance options with a licensed Pennsylvania life insurance professional.
Indexed Universal Life (IUL) is the most preferred life insurance policy to use for its living benefits and retirement financing.
The most commonly used life insurance policies to leave money to the family are the variations of: Term Life Insurance and Cash Value insurance, such as Whole Life insurance, Final Expense (FE), and multiple Universal Life insurance policies.
Term Life Insurance and Final Expense (also known as Burial insurance) are the most frequently used life insurance policies to cover “final expenses” up to $50,000.
To find out more about life insurance options and to get life insurance quotes in Philadelphia County, speak with a knowledgeable Commonwealth-licensed and experienced life insurance professional who has access to multiple insurers and plan types for comparison.
Commercial insurance needs vary between each of the nearly 35 thousand business establishments in Philadelphia County. The three largest job-creating sectors, accounting for over 47% of all employment in the county in 2022 were:
Health Care & Social Assistance - 26.2%
Educational Services - 12.4%
Professional and Technical Services - 8.6%
Every business in Philadelphia County needs some type of insurance, based on what it does and the amount of people it employs. The coverage mostly falls into:
Business Liability, and
Employee Protection and Benefits.
Health care professionals can benefit from Medical malpractice coverage, which protects both the patients and the insured medical professionals.
Professional services and consulting businesses in the county can benefit from professional liability insurance, also known as Errors and Omissions insurance (E&O insurance), that protects them and their clients in case the professional advice they give causes damages or losses.
To assess your business insurance needs in Philadelphia County and to get a commercial insurance quote, speak with a knowledgeable Pennsylvania-licensed commercial insurance agent with access to multiple insurers and premium finance options. Always try to compare at least 2 or 3 options before deciding on the coverage.