Renters Insurance at Lofts 640
What Affects Your Premium Here
Every building is different. These factors specific to Lofts 640 can push your insurance cost up or down:
Gated Community
Gated access reduces theft risk — may qualify for security discount
Controlled Access
Electronic/key fob entry — reduces unauthorized entry risk
FEMA Flood Zone
Zone X — minimal flood risk
FBI UCR
Property crime rate: 4380/100K (178% above national average)
What You'll Likely Pay
$13
Est. Monthly
$160
Est. Annual
$12
With Discounts/mo
$14
State Avg/mo
How Much Coverage Makes Sense
Renters insurance has two main pieces: personal property coverage, which pays to replace your belongings if they're stolen or damaged (think furniture, electronics, clothes), and liability coverage, which protects you if someone gets hurt in your unit or you accidentally damage someone else's property. Here's what we'd recommend for Lofts 640 based on the rent level and building features.
Personal Property
What your stuff is worth
If you own less
$20,000
If you own more
$50,000
Liability
Covers accidental harm & lawsuits
Pool on premises — higher liability recommended for accidents at shared amenities
How Carriers Compare for This Area
Not all carriers price the same zip code equally. Here's how the major options stack up near Lofts 640:
| Carrier | Monthly | Annual |
|---|---|---|
| Lemonade | $8/mo | $96/yr |
| USAA | $9/mo | $108/yr |
| State Farm | $12/mo | $144/yr |
| Progressive | $13/mo | $156/yr |
| Safeco | $13/mo | $156/yr |
| Travelers | $14/mo | $168/yr |
| Allstate | $15/mo | $180/yr |
| Nationwide | $15/mo | $180/yr |
| Farmers | $16/mo | $192/yr |
| Liberty Mutual | $18/mo | $216/yr |
Discounts You May Qualify For
Next Step
See if you can beat $12/mo
6 discounts may apply here. Real quotes show your actual price — estimates can't.
Property Crime & Theft Risk
Renters insurance pricing is driven by property crime — theft, burglary, and vehicle break-ins — not violent crime. Here's what the FBI's Uniform Crime Reporting data shows for Philadelphia.
Philadelphia property crime rate
per 100K residents
U.S. avg is 1,578 per 100K
Breakdown per 100K residents
U.S. average
Higher-than-average property crime is why insurance carriers charge more in this zip code — your premium reflects the claims frequency for the area. Lofts 640 also has on-site security features (Package service, Controlled access, Property manager on site, Concierge, Gated, Doorman, Covered parking, Perimeter fencing) that insurers recognize with discounts.
Source: FBI UCR Program, Philadelphia (2024-12 to 2025-11)
What Residents Are Saying
Based on Google reviews, here are the issues residents mention most often — and the ones that matter when choosing your coverage. Longer bars indicate more frequent discussion.
On-Site Security
Natural Hazards & Your Renters Coverage
Renters at this address have one borderline natural-hazard decision to make: whether to buy an earthquake endorsement on top of a standard policy. USGS rates the area as moderate seismic hazard. Flood and severe weather aren't standout concerns. Below is what each agency actually shows.
Flood damage
This address is in one of FEMA's lower flood-risk classifications. Standard renters policies don't cover flood damage anywhere, but in low-risk zones the cost of a separate NFIP policy generally isn't justified by the expected loss. The detail is below mostly for completeness.
FEMA Zone X (Area Of Minimal Flood Hazard) — Minimal flood risk
Flood insurance optional but inexpensive in this zone.
Flood zone data from FEMA National Flood Hazard Layer (NFHL). Zones can change — verify at FEMA Flood Map Service.
Earthquake shaking
The seismic picture is in the middle: damaging earthquakes are uncommon but not negligible. Renters insurance excludes earthquake damage regardless, so the choice is whether the modest cost of an endorsement is worth the modest probability of a payout. The data point below provides the specifics.
Moderate seismic hazard · ground motion 0.10g
Endorsements priced for renters typically run under $100 a year and only cover personal property. Whether it pays back depends on the value of what's in your unit.
Hazard data from USGS National Seismic Hazard Model. The ground-motion figure is the level USGS expects to be exceeded with about 2% probability over a 50-year horizon — the standard reference used in building codes.
Severe weather you'd actually claim for
Severe-weather activity in Philadelphia County is at the low end. Standard renters insurance already covers wind and hail damage to your stuff, so the data below is more context than coverage gap.
Source: NOAA Storm Events Database, annual averages from the past five years for Philadelphia County. Counts reflect reported events, not damage amounts.
The earthquake endorsement is the only meaningful optional add-on at this kind of address. Whether it's worth the premium depends on what's actually in your unit.
640 N Broad St, Philadelphia, PA 19130
Fairmount-Art Museum
Monthly Cost Breakdown at Lofts 640
The listed rent isn't the whole number. Here's what Lofts 640 actually costs each month once you add required fees and insurance.
Fees Beyond Rent
These are the additional charges beyond base rent at Lofts 640. Some are monthly, some are one-time — all of them affect your actual cost of living here.
Required Fees
Utility - Billing Administrative Fee
Amount to manage utility services billing. Charged per unit.
Utility - Electric
Usage-Based (Utilities).Amount for provision and consumption of electricity. Charged per unit.
Utility - Water/Sewer
Usage-Based (Utilities).Amount for provision and/or consumpt ion of water and sewer services Charged per unit.
Renters Liability Insurance - Third Party
Amount for renters liability insurance obtained through resi dent's provider of choice. Charged per leaseholder. Payable to 3rd Party
Security Deposit (Refundable)
Amount intended to be held through residency that may be app lied toward amounts owed at move-out. Refunds processed per application and lease terms. Charged per unit.
Application Fee
Amount to process application, initiate screening, and take a rental home off the market. Charged per applicant.
Utility - New Account Fee
Amount to establish utility services. Charged per unit.
Community Amenity Fee
Amount for community amenity use and services. Charged per u nit.
Utility - Final Bill Fee
Amount billed to calculate final utility statement. Charged per unit.
Pets Fees
Pet Fee
| Restrictions: Rottweiler, Doberman Pinscher Pit Bull Terri er/Staffordshire Terrier, Show, Presa Canarias, Akita, Alaskan Malamutes, Wolf-Hybrid, or any mix thereof.
Pet Rent
Max of 2. Monthly amount for authorized pet. Charged per pet
Parking Fees
Parking Fee
Max of 1. Amount for parking space/services. May be subject to availability. Charged per rentable item.
Garage Lot
monthly fee
Optional Add-On Fees
Renters Liability/Content - Property Program
Amount to participate in the property Renters Liability Pro gram. Charged per unit.
Situational Fees
Renters Liability Only - Non-Compliance
Amount for not maintaining required Renters Liability Policy Charged per unit.
Access Device - Replacement
Amount to obtain a replacement access device for community; fobs, keys, remotes, access passes. Charged per device.
Returned Payment Fee (NSF)
Amount for returned payment. Charged per unit.
Late Fee
Amount for paying after rent due date; per terms of lease. Charged per unit.
Insufficient Move-Out Notice Fee
Amount for not providing notice to move-out as required by l ease. Charged per unit.
Early Lease Termination/Cancellation
Amount to terminate lease earlier than lease end date; exclu des rent and other charges. Charged per unit.
Pet Policy
Bringing a pet? Here's what Lofts 640 allows. Standard renters insurance typically covers pet-related incidents, so you usually won't need any add-on coverage for a cat.
About Lofts 640
From the property listing:
A thriving community dwells within our walls -- a state of the art fitness center, cyber cafe and yoga studio serve to nurture body, mind and spirit. Setting the night sky aglow, our glass-domed pool house is the perfect place to unwind. Go for a swim in the warm saltwater, relax your muscles in the jacuzzi, or meet and socialize on the roof deck lounge.
Frequently Asked Questions
Does Lofts 640 require renters insurance?
How much is renters insurance at Lofts 640?
What will I actually pay per month at Lofts 640?
Does Lofts 640 allow pets?
How safe is the area around Lofts 640?
What floor plans does Lofts 640 offer?
Is SafeButler affiliated with Lofts 640?
What is SafeButler and how does it work for Lofts 640 renters?
Real quotes · under a minute
Ready to lock down coverage at Lofts 640?
I'll line up top carriers side by side — pre-filled for this building so the proof of insurance is one click away.
Disclaimer
The information on this page — including rent prices, fees, floor plans, amenities, insurance requirements, and safety data — is collected from publicly available sources and may not reflect the most current details. Apartment communities may update their offerings, policies, and pricing at any time. Always confirm details directly with the leasing office or the community's official website before making any decisions.
SafeButler Inc. strives to ensure that the information on this site is up to date, but we will not be held liable for any delays, inaccuracies, errors, or omissions. This site and all materials contained on it are distributed and provided "as is" and "as available" for use. SafeButler.com makes no representations or warranties of any kind, express or implied, as to the operation of this site or to the information, content, materials, or products included on this site. You expressly agree that your use of this site is at your sole risk.