Best Virginia Beach Homeowners Insurance Quotes (2024)

Homeowners of America offers some of the cheapest homeowners insurance policies in Virginia Beach, with annual premiums averaging $1,209.

Jessica Martel
Written byJessica Martel
Jessica Martel
Jessica Martel

Jessica is a freelance writer, professional researcher, and mother of two rambunctious little boys. She specializes in personal finance, women and money, and financial literacy. Jessica is fascinated by the psychology of money and what drives people to make important financial decisions. She holds a Masters of Science degree in Cognitive Research Psychology.

Jessica has been a contributor at Insurify since July 2023.

Ashley Cox
Edited byAshley Cox
Headshot of Managing Editor Ashley Cox
Ashley CoxSenior Managing Editor
  • 7+ years in content creation and management

  • 5+ years in insurance and personal finance content

Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.

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Updated November 6, 2024

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Virginia Beach homeowners pay an average of $2,448 annually for $300,000 in dwelling coverage with a $1,000 deductible. This is higher than the state average of $1,600 per year for the same coverage.

As a coastal city, Virginia Beach experiences its share of hurricanes and storms, which can result in flooding and wind damage. While a standard home insurance policy covers wind damage in many cases, it doesn’t cover flooding. Homeowners in high-risk flood zones can access flood insurance through the National Flood Insurance Program (NFIP) or private insurers.[1]

Here’s what you should know about comparing quotes and finding home insurance in Virginia Beach.

Quick Facts
  • Home insurance in Virginia Beach is slightly higher than the national average of $2,377 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible.

  • Virginia Beach has a higher risk index for natural hazards than 95% of other counties in Virginia.[2]

  • On average, homeowners in coastal areas like Virginia Beach pay higher premiums than homeowners in non-coastal cities like Charlottesville.

Best home insurance companies in Virginia Beach

If you’re searching for home insurance in Virginia Beach, you have plenty of quality insurance companies to choose from. Comparing multiple insurance companies will help you find the best home insurance for your needs and budget.

The table below highlights some of the best home insurance companies in Virginia Beach.

Insurance Company
Average Annual Premium
Best For
Homeowners of America$1,209Cheapest rates
Armed Forces Insurance Exchange$1,326Active and retired military
Cincinnati Insurance$1,570High-value homes
State Farm$1,628Customer satisfaction

Cheapest rates: Homeowners of America

Homeowners of America Insurance Company (HOAIC) got its start in 2005 in Delaware and has continued to expand into 22 states. HOAIC sells a variety of insurance products, including flood, landlord/dwelling fire, renters, and home insurance. But only homeowners and landlord/dwelling fire insurance are available in Virginia. If you want a policy with HOAIC, you’ll have to work with an independent insurance agent, as online quotes aren’t available.

Pros
  • 24/7 insurance claim team

  • Customer service offered in Spanish

Cons
  • Not all coverage options and discounts are available in all states

  • Can’t get a quote online

Best insurer for active and retired military: Armed Forces Insurance

Military leaders founded Armed Forces Insurance (AFI) in 1887 with the goal of protecting those who protect the nation. Today, the company offers a wide range of insurance products, including life, auto, flood, pet health, mobile home, condo, and homeowners. These products are available to active-duty, retired, and honorably discharged members of all branches of the U.S. military, including the National Guard, Reserves, and Coast Guard.

With one of the largest populations of service members in the U.S., many Virginia residents might find AFI to be a good fit.

Pros
  • Wide range of insurance products

  • Several additional coverage options, including flood insurance and earthquake insurance

Cons
  • No mobile app

  • Only available to active and retired military and family members

Best insurer for high-value homes: Cincinnati Insurance

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
NR
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
Not rated

Cincinnati Insurance got its start in 1950 in Ohio. Today, the company operates in 46 states and offers a range of products, including home, auto, umbrella, and yacht insurance. The company offers home insurance tailored to clients with homes starting at $1 million. Since many luxury properties are in Virginia Beach, plenty of homeowners may benefit from this specialized coverage.

Pros
  • Wide range of add-on insurance options

  • Website offers a live chat feature

Cons
  • Can’t get a quote online

  • Not rated by J.D. Power for customer satisfaction

Best insurer for customer satisfaction: State Farm

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.3/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$136/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$205/mo

State Farm is the largest insurance company in the U.S. by market share. It offers a wide range of insurance products, including homeowners, rental property, business, life, health, pet, and auto. The company also offers banking and investment products for individuals and businesses. If you want an insurance company that offers a positive customer experience, State Farm has an above-average J.D. Power customer satisfaction rating.

Pros
  • Online homeowners insurance quotes available

  • Higher-than-average J.D. Power customer and claims satisfaction ratings

Cons
  • Not the cheapest rates in Virginia Beach

  • Fewer discounts than some competitors

Cheapest home insurance in Virginia Beach

A range of factors influence the cost of home insurance, including where you live, the age of your home, your credit history, and the type of coverage you choose.[3] Homeowners of America offers the cheapest rates to homeowners in Virginia Beach, at an average monthly cost of $101 for $300,000 of dwelling coverage.

The following table provides other cheap home insurance options in Virginia Beach.

Insurance Company
Average Annual Premium
Homeowners Of America$1,209
Armed Forces Insurance Exchange$1,326
Cincinnati Insurance$1,570
Narragansett Bay Insurance$1,581
National Grange Mutual$1,611
State Farm$1,628
Mercury$1,821
Universal$1,920
Allstate$1,962
ASI Progressive$2,202

Cost of homeowners insurance in Virginia Beach

The average cost of homeowners insurance in Virginia Beach is $2,448 per year, or $204 per month, for a policy with a $1,000 deductible and $300,000 in dwelling coverage.

Some factors that can affect home insurance premiums include the age of your home, the size of your deductible, and your claims history. Your ZIP code can also influence the cost of insurance if your area has higher rates of theft or is prone to natural disasters.

Living in a coastal area like Virginia Beach can often result in higher insurance premiums due to a higher level of risk.

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Cost of homeowners insurance by dwelling coverage amount

Dwelling insurance covers your home’s structure, including attached structures like a garage or deck. The amount of dwelling insurance you need depends on how much it would cost to replace your home. Some lenders require you to be insured for at least 80% of your home’s replacement cost. You may want to purchase more to ensure you have enough protection.

Take a look at the average annual premiums for different dwelling coverage limits in Virginia for policies with a $1,000 deductible.

Coverage Limit
Average Annual Premium
$100,000$808
$200,000$1,221
$300,000$1,600
$400,000$2,107
$500,000$2,584

Cost of homeowners insurance by deductible

After you submit a claim, your deductible is the amount you have to cover, so insurers usually deduct it from your claim payout. Generally, having a higher deductible results in a lower monthly insurance premium.

Increasing your deductible is one way to lower the cost of home insurance, but you want to make sure you can afford the deductible if you have to file a claim.

The following table shows how the deductible you choose can affect your average annual premium in Virginia Beach for policies with $300,000 in dwelling coverage.

Deductible Amount
Average Annual Premium
$500$2,548
$1,000$2,448

How to get cheap homeowners insurance in Virginia Beach

If you’re looking for the cheapest homeowners insurance in Virginia Beach, here are a few things you can do to lower your premiums:[4]

  • Compare multiple homeowners insurance companies. Different insurance companies offer different premiums. Taking the time to compare multiple insurers can help you find the best coverage to meet your needs and budget.

  • Increase your home security. Many insurers offer discounts for home security. For instance, adding a smoke detector or deadbolt locks can result in a discount of at least 5%. Installing a sprinkler system or security system that automatically notifies the authorities can save you 15%–20%.

  • Improve your credit. Insurance companies in Virginia can take your credit history into account when calculating insurance premiums. Maintaining good credit can help cut your home insurance costs.

  • Bundle your home and auto policies. Purchasing multiple insurance policies, such as your home and auto coverage, from the same company can help you save 5%–15% off your premium.

  • Look for other discounts. In addition to bundling discounts, home insurers offer a range of other discounts to help you save. Examples include discounts for new homes, disaster preparedness, new roofs, military members, seniors, and being claims-free. When comparing insurers, ask which discounts are available.

  • Increase your deductible. Raising your deductible from $500 to $1,000 may save you up to 25% on home insurance. Living in Virginia Beach means you might also have to consider a separate deductible for wind or hurricane losses.

Virginia homeowners insurance rates by city

Homeowners insurance rates in Virginia can vary between cities and different ZIP codes within a city. Factors like proximity to a fire station, crime rates, and extreme weather events can influence the cost of home insurance.

For example, homeowners in coastal areas like Virginia Beach pay higher premiums than homeowners in non-coastal cities like Charlottesville because coastal cities face higher risks from severe storms and tropical cyclones.

City
Average Annual Premium
Annandale$1,215
Arlington$1,174
Charlottesville$1,146
Chesapeake$2,348
Fairfax$1,197
Fredericksburg$1,217
Norfolk$2,560
Richmond$1,480
Woodbridge$1,217

How much homeowners insurance do you need in Virginia Beach?

If you take out a mortgage on your home, your lender will require you to purchase a home insurance policy. The most common mistake people make when buying homeowners insurance coverage is not buying enough.[5]

To make sure you have adequate coverage, consider how much it would cost to rebuild your home if it were totally destroyed. Then, take inventory of all your personal belongings and estimate what they’re worth. This will give you a good idea of how much insurance coverage you need.

Before purchasing a policy, make sure you understand exactly what it covers so you feel confident you have enough insurance.

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What are some of the biggest risks when owning a home in Virginia Beach?

With miles of sandy beaches, cultural centers, and a vibrant financial district, it’s no wonder people want to live in Virginia Beach. But as a coastal city, it poses a number of risks to homeowners, which can drive up the cost of homeowners insurance. Some of the most common perils in Virginia Beach include:

  • illustration card https://a.storyblok.com/f/162273/150x150/0194b78427/weather-96x96-orange_043-flood.svg

    Floods

    Due to its low elevation and proximity to water, Virginia Beach homes are susceptible to flood damage. If your home is partially or fully within a Special Flood Hazard Area, and you have a federally backed mortgage, you need to have a flood insurance policy. You can use the FEMA Flood Map Service Center to determine if you’re in a high-risk zone. Virginia Beach participates in the National Flood Insurance Program (NFIP), which helps homeowners in flood-prone areas find insurance.

  • illustration card https://a.storyblok.com/f/162273/150x150/0a25826e6f/weather-96x96-yellow_010-windy.svg

    Wind

    Hurricane season runs from June 1 to Nov. 30 each year. Coastal homeowners, and even those hundreds of miles off the coast, can experience high winds. You’ll want to ask your insurer if your policy has a separate deductible for wind or hurricane losses.

  • illustration card https://a.storyblok.com/f/162273/150x150/a72798aa06/weather-96x96-green_016-snow.svg

    Winter storms

    While Virginia Beach has a moderate climate, homeowners can still experience winter storms that can include freezing rain, ice, snow squalls, and blizzard conditions. It’s important to make sure your house is properly protected. A standard homeowners insurance policy typically covers storm damage.

Virginia Beach homeowners insurance FAQs

If you’re shopping for a home insurance policy in Virginia Beach, this additional information may help as you research your coverage options.

  • How much is home insurance in Virginia Beach?

    Home insurance in Virginia Beach costs $2,448 per year, or $204 per month, for a policy with $300,000 in dwelling coverage and a $1,000 deductible, Insurify data shows. Your home insurance rates will depend on many factors, including your ZIP code, the age of your home, the square footage of your home, and the coverage levels you choose.

  • Which company has the cheapest homeowners insurance in Virginia Beach?

    Homeowners of America has the cheapest homeowners insurance in Virginia Beach, with average annual premiums of $1,209. Other affordable insurers include Armed Forces Insurance Exchange and Cincinnati Insurance, with respective annual premiums of $1,326 and $1,570.

  • Does Virginia Beach require homeowners insurance?

    No. Virginia Beach doesn’t require homeowners insurance, but if you have a mortgage on your home, your lender will require it. Home insurance protects you financially if something damages your home and you have to make costly repairs, so it’s important to carry this coverage even if you’ve paid off your mortgage.

  • What is the average cost of homeowners insurance in Virginia?

    The overall average cost of homeowners insurance in Virginia is $1,600 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible. This is much lower than the average home insurance cost in Virginia Beach.

Sources

  1. City of Virginia Beach Planning & Community Development. "Floodplain Management."
  2. Federal Emergency Management Agency. "National Risk Index: Virginia Beach City, Virginia."
  3. National Association of Insurance Commissioners. "A Consumer's Guide to Home Insurance."
  4. Insurance Information Institute. "12 Ways to Lower Your Homeowners Insurance Costs."
  5. Virginia State Corporation Commission. "Virginia Consumer's Guide for Homeowners Insurance."
Jessica Martel
Jessica Martel

Jessica is a freelance writer, professional researcher, and mother of two rambunctious little boys. She specializes in personal finance, women and money, and financial literacy. Jessica is fascinated by the psychology of money and what drives people to make important financial decisions. She holds a Masters of Science degree in Cognitive Research Psychology.

Jessica has been a contributor at Insurify since July 2023.

Ashley Cox
Edited byAshley CoxSenior Managing Editor
Headshot of Managing Editor Ashley Cox
Ashley CoxSenior Managing Editor
  • 7+ years in content creation and management

  • 5+ years in insurance and personal finance content

Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.

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