- Many discounts available
- Ways to protect your home with additional coverage
- Great reviews online from customers
- Only available in 12 states
- No online quote tool
Penn National is one of the oldest insurance companies in the United States – it was founded in 1919, over 100 years ago in Harrisburg, PA where the company headquarters are still located. Penn was initially founded to provide insurance to farmers but currently provides other types of insurance policies such as homeowners, auto, and commercial insurance.
Penn National was initially known as ‘The Pennsylvania Threshermen’s and Farmer’s Mutual Casualty Company’, but the company changed its name during the mid-20th century. Penn’s initial specialty was insuring farmers in the state of Pennsylvania, by providing insurance to farmers who operated steam-threshing machines. The company started offering auto insurance when the first automobiles became available in Pennsylvania and has since kept its deep-rooted tradition of offering insurance in Pennsylvania including neighboring states.
Penn National is an insurance carrier that serves 12 states: Alabama, Delaware, Iowa, Pennsylvania, Maryland, Minnesota, New Jersey, North Carolina, South Carolina, Tennessee, Virginia, and Wisconsin. They offer standard homeowners insurance, as well as condo, renters, and personal umbrella policies.
There are many great insurance carriers out there, and choosing the right one takes time. You need to make sure your home is adequately protected, and you can do this by taking an in-depth look at some of the top contenders.
Penn National homeowners insurance coverage
When you select a homeowners policy with Penn National, you are going to receive coverage for your home and attached structures, other structures, personal belongings, additional living expenses, liability claims, and medical payments. This is a standard level of coverage that is to be expected when you buy homeowners insurance.
There is a lot of information regarding what is covered that you can take a look at on the Penn National website. They advise that there are different homeowners policies to choose from that range from basic to broader coverage. It appears they make it a process that is personalized so each household can be adequately protected.
Because Penn National wants each customer to have as much protection as needed, they direct customers to work with a local agent who can help to personalize the policy. This will give you the coverage limits you want and can offer you suggestions if you are unsure of what to choose.
Penn National home insurance discounts
There are many ways to save money on your homeowners insurance when you choose Penn National. They provide a list of all the different discounts they provide, which is helpful because you can see if you qualify ahead of time. These are all the discounts they currently offer
- Being loss-free: if the client doesn’t have any claims on their record, they can receive a discount on their premium.
- Being a non-smoking household: if everyone in the household is a non-smoker, this decreases the risk of fire hence the home is eligible for a premium discount.
- Being a new homebuyer: if the home is new (usually under 15 years old or brand new) it is eligible for a premium discount.
- Being retired: seniors get a discount as well.
- Renovating the electrical, plumbing, or heating systems in the last 10 years
- Having a roof replacement: If the roof is outdated (over 20 years old) and the roof is replaced, the home is automatically eligible for a discount.
- Installing protective fire devices: Fire alarms and smoke detectors can save you money.
- Installing burglar alarms: If the home has security systems in place such as security alarms and/or security cameras, it is eligible for a discount.
- Having deadbolt door locks: save money with the additional safety of having deadbolt door locks.
- Having wind mitigation construction: If the home is relatively secure from winds due to its construction or wind-mitigation devices, it’s eligible for a discount.
This is an extensive list of discounts that are provided, which shows that Penn National aims to help its customers save money whenever possible. There are likely a few discounts that you qualify for, so you can expect this to lower the rate of your homeowners insurance if you choose Penn National.
Additional coverages
If you want to make your homeowners insurance coverage broader, you can add extra coverage to your policy. This will fill in any existing gaps, and you can rest easy knowing that your home is going to be protected with this comprehensive level of coverage.
- Identity theft: in case your identity is stolen, this coverage will reimburse you. This includes legal fees, document duplication, and mailing costs associated.
- Personal umbrella: this is an over-arching policy that covers all of your existing policies. It gives you excess liability in the amount of $1MM or higher.
- Personal property with replacement cost: this coverage will reimburse you to replace your personal belongings with new ones. When you choose this option, depreciation is not subtracted.
- Specified additional coverage: you might need additional coverage for rebuilding your home in case of a covered loss. This coverage can insure you for an additional 25% or 50% of your dwelling limit.
- Utility line: in case a utility line breaks underneath your home, this coverage will protect it from any damages that can occur.
- Valuable articles: for items that are valuable, you can purchase this coverage to protect them with no depreciation included and no deductible.
- Water back-up and sump pump: water backup can cause a lot of damage, and you can be protected when you purchase this endorsement that also covers sump pumps.
- PennPac: this is a package that you can get through Penn National that includes a variety of additional coverages. They are identity theft, money/coins/bank notes, securities/deeds/passports, loss assessment, theft of silverware, credit card theft, refrigerated property, and personal injury. This is a great way to protect your home by choosing a package deal.
Penn National homeowners insurance premiums
To get an insurance quote with Penn National, they direct individuals to contact a local agent. It is hard to say what an average price is for a homeowners insurance policy because Penn National offers many discounts and additional coverages that can be added. The best way to find out is to get a personalized quote.
Most customers who have left reviews agree that Penn National offers fair pricing. They claim that homeowners insurance is affordable and often cheaper than its competitors. The only downside is that there have been notable rate increases for some after filing a claim.
There was one customer who went from paying $1,400 annually and ended up with a $2,400 premium after needing to file a claim. It appears that Penn National is most suitable and reasonable for those with no existing claims.
Penn National’s claims process
Most customers are very pleased with the way Penn National handles its claims. They advise that the company is responsive and makes it very easy to file claims. A lot of people have filed various minor claims and even needed help during bigger storms with no issues to report.
These happy customers recommend the company to others and suggest that dealing with claims is not a problem. This is exactly what you would want to hear when considering working with a company for homeowners insurance.
It is hard to find negative reviews regarding the way this company handles claims, which is a great indication that they pay close attention to detail. Since they are very responsive and can handle all types of claims, it is likely they would be able to take care of any claims you might have in the future with ease.
Penn National’s customer service
When looking through reviews regarding the type of customer service that Penn National provides, they are overwhelmingly positive. Many people are very happy with the way the company communicates with its customers. This shows they are able to help with many different policy requests.
The company seems to truly want to help its customers, which is a big benefit when working with an insurance carrier. Many people praise Penn National for being extremely easy to work with and easy to get information from when it is needed.
Penn National has earned a complaint index of 0.19 for their homeowners policies according to NAIC’s 2022 data. This is much lower than the industry average which is always set at 1.00 by the National Association of Insurance Commissioners. This is another indication that Penn National’s customers are mostly happy with their policies.
Penn National’s financial strength
BBB
Through the Better Business Bureau, Penn National has received a rating of A+. This is the highest rating possible and showcases a company that has a positive financial outlook. They have had 12 closed complaints over the last three years.
AM Best
As of October 2022, AM Best has released an article stating that Penn National has received an updated rating. They currently hold an A- and have recently been marked as positive. Before this, they were listed as stable.
The verdict
When looking at the overall details of Penn National and the homeowners insurance it provides, the majority of them look positive. This is a carrier that provides homeowners and renters insurance in 12 select states. They offer different levels of protection depending on what the customer needs.
There are several ways to earn discounts when you choose Penn National. They have all of their discounts clearly listed online and showcase how many of them you can qualify for before you contact an agent for a quote. While the reviews state that premiums are reasonable and competitive, it is thought you can save even more money by qualifying for discounts.
If you need additional coverage for your home and belongings, Penn National makes it easy to upgrade your protection. They have a wide array of coverage options and other policies that are offered to help you get comprehensive coverage. This will give you peace of mind knowing that there are no details missing from your homeowners policy.
Customers have a lot of great things to say about the carrier. Many have reported that dealing with claims has been a positive experience. Penn National appears to truly care about its customers and aims to make the claims process as easy and efficient as possible. They are known most for their effective communication.
There are also many great reviews left on Penn National’s customer service. Much like they handle their claims, they are also great at handling customer service inquiries. A majority of the customers are happy with the carrier.
When it comes to financial stability, Penn National is in excellent standing. They have obtained high ratings from qualified institutions with the notion that they are to remain stable in the future as well. This is very positive when looking for an insurance carrier.
Overall, it appears that Penn National is a great choice for those with no claims. They offer comprehensive insurance and many ways to save money. When paired with their excellent communication, it appears most individuals are pleased.