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Edited by John Leach
Last Updated February 28, 2022
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Charleston, WV Homeowners Insurance
There’s a reason West Virginia’s capital city lauds itself as “the cultural, recreational, and business capital of the Appalachian Mountain region.” A stroll down Capitol Street in Downtown Charleston’s historic district could be a day trip in itself. Stop at Taylor Books for a cup of coffee and a good read, or drop into Ellen’s for an ice cream cone or Capitol Market to support some local farmers and vendors (and get some amazing snacks and produce while you’re at it). Locals can also visit the Clay Center to enjoy its art museum, discovery center, and planetarium or catch a concert or performance at its Maier Foundation Performance Hall.
If Downtown Charleston isn’t your speed, there’s plenty of nature to enjoy in the city, too. Charleston lies along the Kanawha and Elk Rivers and is just a quick drive to Kanawha State Forest, with plenty of hiking, biking, and ski trails to explore year-round.
Whether you’re a city dweller or nature lover, Charleston is a great place to call home. But West Virginia homeowners insurance can get pricey. Insurify’s comparison tools make it easy to find the best home insurance policy, insurance provider, and annual premiums. No matter what insurance products you need, Insurify helps you compare your home, auto, and life insurance companies and coverage options to save you time and money.
And keep reading for our full guide on home insurance in Charleston, West Virginia.
Cheapest Home Insurance Companies in Charleston
For homeowners in Charleston, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Charleston. The following are the best insurance rates from carriers that offer homeowners insurance in Charleston.
How to Find Cheap Home Insurance in Charleston
Homes in Charleston cost roughly $122,000, nearly half the national average. While there’s a good chance your Charleston home is significantly more affordable than homes across the country, it’s important to make sure your property is protected, no matter its cost.
West Virginia home insurance protects your home, family, and personal belongings in case of emergencies. West Virginians aren’t legally required to insure their homes, but a homeowners policy will help pay to repair your property and replace your possessions after natural disasters and home break-ins. Some policies even provide coverage for identity theft, medical expenses, and additional living expenses.
Your Charleston home insurance policy should be specific to your home, and you can cater everything from your deductible to your additional coverage options to meet your insurance needs.
Keep reading for a full guide on Charleston home insurance.
MORE ON WEST VIRGINIA HOME INSURANCE
For general information on West Virginia home insurance, check out our guide to the best West Virginia homeowners insurance.
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Cheapest Home Insurance in Charleston by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, the average cost of homeowners insurance in Charleston is $1,666, and the median home value is $121,995.
Home insurance rates in Charleston are cheaper than the Mountain State average but more expensive than the national average. If you’re looking for cheaper home insurance quotes, the best way to lower your premium is to get a quote from multiple homeowners insurance companies.
Whether you prefer national insurance agencies like Nationwide and Liberty Mutual Insurance Company or local Charleston insurers like White Insurance & Associates, shopping around for prices ensures you’re getting the best coverage at the best cost. Check out the average cost of homeowners policies with insurance companies like State Farm, Erie, and Allstate below.
|Average Home Cost in Charleston||Average Annual Insurance Premium in Charleston|
Average Annual Home Insurance Premium in Charleston by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Cheapest ZIP Codes in Charleston for Home Insurance
Your specific home insurance quote is based on factors like your home’s age and your credit score. But home insurance quotes naturally range in price across the state of West Virginia, too.
Rates in Charleston are cheaper than rates in Huntington but more expensive than in cities like Morgantown and Parkersburg.
This is because home insurance prices are determined based on ZIP code–specific variables like your neighborhood’s crime rates and property values. Other factors, like your community’s flood and wildfire risks, will also affect whether you can expect cheaper or more expensive annual premiums.
Home Insurance Coverage Types in Charleston
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed West Virginia city level guides, check out these below.
Charleston Flood Insurance
Flooding across West Virginia has caused an average of $33.9 million in damages each year from 1996 to 2014, and your homeowners policy won’t pay to repair your home after a flood. The only way to make sure your Charleston home is protected from flood damage is with a flood insurance policy.
Charleston participates in the National Flood Insurance Program, which seeks to provide affordable flood coverage to homeowners in high-risk flood zones. If you live in one of Charleston’s flood zones, the NFIP is a great option for flood coverage. Homeowners in low- or moderate-risk flood zones should also purchase flood coverage but might have better luck finding cheaper rates with a private insurer.
Talk to your local agent about your flood insurance options to learn more about rates in your neck of the woods. But don’t wait too long, though—most flood policies have a 30-day waiting period before coverage kicks in.
What about mine subsidence?
Mine subsidence, or ground movement caused by the collapse of underground mine structures, has caused serious home damage across the state. Since home insurance doesn’t pay for damages caused by ground movement (like earthquakes, landslides, and mine subsidence), West Virginia homeowners will need to purchase separate mine subsidence coverage to protect their homes and property.
Monthly premiums for mine subsidence insurance policies in West Virginia range from $10 for $10,000 of coverage to $48 for $200,000 of coverage, with deductibles set at $250. These policies help rebuild your home, pipes, and septic system but don’t cover any damaged belongings or property such as land, driveways, or sidewalks.
Most Charleston homes aren’t at immediate risk of subsidence, since most of the state’s underground mines are located south and east of the city. Still, it’s best to consult your local insurer to discuss your home’s subsidence risk and decide whether mine subsidence coverage is for you.
Charleston is “hip, historic, almost heaven.” Finding home insurance with Insurify is almost heaven, too.
How to Find the Cheapest Home Insurance in Charleston
Living in Charleston gives locals the perfect balance of city life and small-town living, urban amenities and nature, and history and modern living. Finding the perfect home insurance policy gives you the peace of mind to enjoy all that Charleston has to offer. Use Insurify’s to compare home insurance quotes to make your insurance search as quick and easy as possible.
Frequently Asked Questions
Yes, your homeowners policy will cover fire damage. Charleston falls in a “very high” wildfire risk zone, so you should talk to your insurance agent about increasing your coverage, obtaining a replacement cost policy, or adding a fire insurance endorsement to your policy if you’re worried about your coverage.
Yes, the next time winter weather, hail, or thunderstorm winds come to town, you can rest assured knowing your homeowners policy has you covered.
Insurance companies offer different discounts for bundling your policies, but many insurers offer 5 to 20 percent discounts for purchasing your home and auto insurance together.
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