The Philadelphia Contributionship Insurance Review 2023

Philadelphia Contributionship Insurance Review

Our very own Benjamin Franklin established the Philadelphia Contributionship in 1752. They have expanded since their foundation and now provide house insurance in five states: PA, NJ, MD, VA, and DE.

They provide the very affordable homeowner, condo, renter, and landlord insurance. Let’s examine how their house insurance policies compare to the other possibilities you could have because pricing isn’t everything.

It is simple for you to compare coverages because The Philadelphia Contributionship’s plans adhere to the ISO standards utilized by the majority of the industry.

They provide common add-ons such as scheduled jewelry coverage, mold insurance, and water backup. Additionally, they provide a very reasonable option to supplement the policy with service line coverage, which fills the coverage gap in the majority of common house insurance plans.

You are in charge of the repairs and cleanup, for instance, if a utility line breaks outside your home but still on your property (under your front yard, for instance). Without adding service line coverage to your plan, neither the city nor your homeowner’s insurance will pay this expense.

In their native Pennsylvania, The Philadelphia Contributionship frequently offers one of the most affordable homeowner carriers. They undoubtedly have a solid awareness of the risk exposures in the area given their 250+ years in operation. However, their pricing has remained affordable during their recent growth into NJ, MD, DE, and VA.

If you have a fire alarm system or home security system on your property, you may be eligible for savings. Additionally, if you purchase your vehicle coverage from the same insurance agent, you will receive a 15% bundling discount.

Some clients who have solid credit and a clean claims record are promoted to Franklin Select, a unique price category. The charges are in this tier maybe 50% less expensive than those of any other market-competing carriers.