Penn National is one of the oldest insurance companies in the United States – it was founded in 1919, exactly 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 insurance policies such as home insurance, auto insurance, and commercial insurance.
Penn National was initially known as ‘The Pennsylvania Threshermen’s and Farmer’s Mutual Casualty Company’, but the company changed their 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 have since kept its deep-rooted tradition of offering insurance in Pennsylvania including neighboring states.
Penn National services the Pennsylvania region primarily; but Penn National offices retain a presence in 9 other states: Delaware, New Jersey, Maryland, Virginia, North Carolina, South Carolina, Tennessee, Alabama and Wisconsin. Penn National does not sell their policies directly – they only offer customer support. Quotes and premium rates can be obtained through a network of independent agents located in the states that Penn National currently services.
Unfortunately, there are no online quoting options and clients have to contact agents for rates by submitting their zip code and locating the nearest agent. Penn National has a network of thousands of independent agents selling its policies.
Penn National insurance policies are available for the following:
- Condominium owners
- Commercial property owners
The policies cover property damages, personal possessions, personal liability, and optional add-ons.
Table of Contents
Penn National is the largest insurance company in the state of Pennsylvania – and it’s rated by the largest financial institutions in the United States. A.M. Best, arguably the major financial rating institutions awarded Penn National an “A-” rating for financial stability. This is a testament that Penn National is capable of paying claims, even during major economic downturns or natural disasters.
Penn National is part of the Better Business Bureau, which currently rates it “A+” for financial stability and answering all customer claims. Penn National is one of the most financially stable companies in the U.S.
Penn National offers an HO-3 plan which is its largest package – and the most peril-packed. The HO-3 plan is their premier plan for all homeowners who wish to protect their property in the event of an accident. The plan includes all property damages, personal possessions, liability, medical expenses, and more – all at the standard package without any add-ons.
Penn National’s HO-3 plan (without add-ons) covers the following:
- Damages to the home. Penn National covers the home and any attached structures. Any damages to the home such as roof shingles, interior damage, water leaks and more will be covered under Penn National’s HO-3 policy.
- Damages to side-structures. The HO-3 plan also covers side structures such as 2nd visitor homes, sheds, non-attached garages, animal houses, and any side-structures of choice.
- Personal belongings. The HO-3 plan covers all personal belongings: furniture, electronics, kitchen appliances, AC units, clothing, artwork, silverware, TV units, and more. Even if the property owner is away from the property when they’re damaged or stolen, the HO-3 policy covers all personal belongings.
- Loss of use liability. The HO-3 covers personal liability for the insured person’s family, in case they have to move away while repairs are being carried out. This is to prevent homelessness while repairs are being carried out when the home becomes unusable.
- Personal liability. The HO-3 covers all medical bills for the insured person in case they’re injured during an accident in their home.
- Medical liability. The HO-3 plan also includes personal liability for all people who are injured in the house or property that is insured – this includes everyone located in the building at the site of the accident.
Penn National applies separate policies and limits based on the damages. The standard plan that covers everything will assign damage limits based on the %:
- Property repair limit is 50% of the total plan: Clients who purchase $300,000 in coverage will have $150,000 assigned for home repairs.
- Personal liability has a $100,000 minimum, but clients can increase this liability such as up to $500,000 or $1M.
- Most high-value items have to be insured separately. This includes expensive art collections, gold/jewelry, antiques and similar.
Penn National provides discounts to all HO-3 policyholders for any of the following:
- ‘Loss free’ policy. If the client chooses to go without a loss of use policy in their HO-3, they can receive a discount on their premium.
- 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.
- New home-buyer discount. If the home is new (usually under 15 years old or brand new) it is eligible for a premium discount.
- Renovation discount. If the home has been renovated in the last 10 years in key areas such as plumbing, electric or heating system then it can be eligible for a discount.
- Roof replacement discount. If the roof is outdated (over 20 years old) and the roof is replaced, the home is automatically eligible for a discount.
- Security system discount. If the home has security systems in place such as fire and burglar alarms (or security cameras), it is eligible for a discount.
- 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.
Penn National received positive 5-star reviews from customers. Their customer service is frequently praised by customers for being fast and responsive, while they also have a great reputation for paying out on claims, large or small ones. Penn State is in excellent standing in regards to customer feedback.