Whether you are enjoying Philadelphia cream cheese, visiting Hershey park or noshing on a famous Philly cheese steak, Philadelphia is home to a wonderful array of foods and activities all individual to the state. But when you look at the insurance regulations, you might not be as impressed by the variety.

Pennsylvania Auto Insurance

Pennsylvania auto insurance regulations make this a no-fault state with required personal injury protection (PIP) and not required uninsured motorist protection. The state does require drivers to have at least $5,000 in property damage liability coverage, $15,000 for single-person bodily injury liability and $30,000 in multi person bodily injury liability.

Pennsylvania Health Insurance

Pennsylvania health insurance regulations do not utilize a state-subsidized high-risk pool and do not require insurers to issue individual policies on a guaranteed basis. They do, however, offer an insurer of last resort. If you contribute to a health savings account (HSA) in Pennsylvania then you can deduct your contribution from your state income taxes.

Small groups in Pennsylvania can have as few as 2 members. Pennsylvania health insurance regulators do not require guaranteed issue policies to all members; as such, if any member with pre-existing conditions has had a break in coverage for 63 or more days during the past 6 months their condition can be excluded for up to 12 months. Group plans have no rating restrictions in Pennsylvania.

Pennsylvania Home Insurance

In 2010, Pennsylvania home insurance current and future customers got a bit of a boon in the approval of Traveler’s Insurance’s proposed discounts for green home improvement products. This means those with home insurance can enjoy a discounted rate if they make ecologically friendly choices in their home improvement materials. The state regulators do not require homeowners to have insurance or to make these updates, but they are great decisions for those looking to protect their most important asset.

Pennsylvania Life Insurance

Pennsylvania life insurance regulators created the Pennsylvania Life and Health Insurance Guaranty Association to assist policyholders in the event that their life insurance company was unable to pay claims as a result of insolvency. The association has been in effect since 1978 and provides up to $300,000 in death benefit protection and $100,000 in cash surrender values.

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Tags: Pennsylvania auto insurance, Pennsylvania health insurance, Pennsylvania home insurance, Pennsylvania insurance, Pennsylvania life insurance

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