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Erin is a writer and journalist specializing in personal finance. With more than five years of experience, Erin has covered topics such as credit cards, mortgages, insurance, and more.
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A proud graduate of Colorado State University with a degree in technical journalism, Becky lives in Fort Collins, CO, with her husband and their two spoiled rescue dogs.
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MacKenzie Korris is an insurance copy editor with a producer’s license for property and casualty insurance in Missouri.
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Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.
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Virginia homeowners pay an average of $1,524 per year for a homeowners insurance policy with $300,000 in dwelling coverage and a $1,000 deductible, according to Insurify data. This is significantly less than the national average of $2,544 per year, despite the state’s risk of tropical storms and flooding.[1] [2]
While many companies offer comprehensive policies at affordable prices, homeowners insurance doesn’t cover every situation Virginia homeowners might face. For instance, homeowners insurance typically excludes flood damage.
Keep reading to learn more about the best Virginia home insurance and what to consider when you’re shopping for a policy.
Travelers has the cheapest home insurance rates in Virginia, averaging $103 per month for $300,000 in dwelling coverage and a $1,000 deductible.
Homeowners insurance in Virginia averages $162 per month for a policy with $400,000 in dwelling coverage and a $1,000 deductible.
You may need to buy flood insurance in addition to homeowners insurance — especially if you live in an area prone to flooding.
Best home insurance companies in Virginia
While many quality homeowners insurance companies serve Virginia homeowners, the best company for you depends on your budget and coverage needs. We’ve narrowed our list of the best home insurers in Virginia to the following top five based on their average premiums, customer satisfaction scores, and coverage options, among other factors.
Travelers: Best for affordable premiums
| 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. | 7.8/10 |
|---|---|
| A.M. Best A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor). | A++ |
| $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. | $103/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. | $165/mo |
Travelers offers some of the cheapest homeowners insurance rates in Virginia, making it a great choice when budget is a top concern. If you have a certified “green home,” you may qualify for a discount of up to 5% off your premium. Travelers also offers policies that help cover the cost to repair, replace, or rebuild your home with green materials after a covered claim.
The company has a large network of local agents in Virginia, making it a good option if you prefer to work with an agent. But Travelers’ customer satisfaction rating is below average, and it offers fewer home insurance discounts than competitors.
Cheapest average rates for Virginia homeowners
Benefits for “green home” owners
Many local independent agents
Fewer discounts than many competitors
Below-average J.D. Power customer satisfaction rating[3]
Online quotes may not be available for all customers
Chubb: Best for high-value homes
| 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. | 7.8/10 |
|---|---|
| A.M. Best A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor). | A++ |
| $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. | $106/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. | $168/mo |
Chubb is known for providing home insurance coverage for luxury homes and high-net-worth customers. Its coverages and discounts reflect that. For example, it offers higher coverage limits than many insurers and features add-ons unavailable elsewhere.
The company’s most comprehensive home insurance plan includes extended replacement cost and the option to add in-home appraisal service. Some of its discounts, including those for gated communities and less densely populated suburban areas, also speak to the company’s typical clientele. Even with these benefits, Insurify data shows Chubb’s home insurance rates are on par with some of the most affordable home insurers in Virginia.
Comprehensive high-value coverage
High J.D. Power customer satisfaction rating
Affordable insurance premiums
Quotes not available online
Fewer discounts than some competitors
Not tailored to lower-value homes
Nationwide: Best for coverage options
| 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. | 8.4/10 |
|---|---|
| A.M. Best A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor). | A+ |
| $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. | $119/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. | $157/mo |
Nationwide offers more homeowners insurance coverage options than any other company we considered. These include coverage for identity theft, unauthorized credit card transactions, water backup, and reimbursement for replacing damaged belongings with new items. The company also offers expanded coverage for your valuables.
Although Nationwide’s rates are below the state average for some homes, this may not be the case for all. But the company has an impressive number of home insurance discounts that can help you save on your premiums.
Many available coverage options
Numerous discounts
Many local independent agents
Below-average J.D. Power customer satisfaction rating
Above-average premiums for lower-valued homes
No green home coverages or discounts
Erie: Best for customer satisfaction
| 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. | 7.4/10 |
|---|---|
| A.M. Best A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor). | A+ |
| $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. | $216/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. | $303/mo |
Erie is among the top companies for customer satisfaction, according to J.D. Power’s recent home insurance study.
While its rates are above average, Erie shines in terms of its coverage options. The company’s base plan includes guaranteed replacement cost, which doesn’t come standard with all insurers. Erie also offers coverage bundles, allowing you to increase your home protection even more.
High J.D. Power customer satisfaction rating
Base plan includes guaranteed replacement cost
Available coverage bundles for enhanced protection
Above-average insurance premiums
Fewer available discounts
Quotes not available online
Farmers: Best for discounts
discounts
Farmers
| 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. | 8.4/10 |
|---|---|
| A.M. Best A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor). | A |
| $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. | $137/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. | $229/mo |
Farmers may not have the lowest rates in Virginia, but it offers more discounts than most insurers. These include savings for paperless billing and smart home systems, as well as a premium discount when you buy a home as an existing Farmers renters insurance customer. Farmers also offers group savings to employees and members of certain businesses and organizations.
The company has fewer coverage options than some of its competitors. But with a Farmers Flex Personal Home policy, you can enhance your homeowners policy by adding optional coverages. These include extended replacement cost, guaranteed replacement cost, and emergency mortgage assistance, among others.
Many available discounts
Flex policy allows you to tailor your coverage
Group insurance offers additional savings
Above-average premiums in Virginia
Below-average J.D. Power customer satisfaction rating
Fewer optional coverages
Our editorial team analyzed dozens of regional and national home insurance companies that sell policies in Virginia to assess which offer the best rates, coverage options, customer service, and savings to homeowners. We prioritized competitive rates, 24/7 customer service, homeownership discounts or bundling options, and specialty or supplemental coverages.
Cheapest home insurance in Virginia
Travelers has the cheapest home insurance rates in Virginia, with an average monthly rate of $103 for $300,000 in dwelling coverage and a $1,000 deductible. Keep in mind that your premium will vary based on factors such as your ZIP code, home value, and unique coverage needs.[4]
You can see some of the cheapest Virginia home insurers in the table below.
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Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.
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Insurance Company | Average Annual Premium |
|---|---|
| Travelers | $1,236 |
| Chubb | $1,272 |
| Allstate | $1,392 |
| Nationwide | $1,428 |
| Auto-Owners | $1,500 |
| Farmers | $1,644 |
| State Farm | $1,692 |
| Encompass | $1,956 |
| Erie | $2,592 |
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How much does homeowners insurance cost in Virginia?
Virginia homeowners pay an average of $1,524 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible. This is considerably less than the national average of $2,544 for the same coverage.
Many factors affect your home insurance premiums in Virginia, including your home’s age and construction type, your credit and claims history, your location, and the coverage and deductible you choose. Local risks, such as wildfire, flooding, and other hazards, can also affect your rates.
Cheapest home insurance companies in Virginia by dwelling coverage
A major factor affecting insurance premiums is the dwelling coverage amount. Dwelling coverage pays to repair or replace your home’s physical structure after a covered loss.
The higher your dwelling coverage limits, the more expensive your policy will be. The table below shows average rates in Virginia for various dwelling coverage amounts.
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Insurance Company | Average Annual Premium |
|---|---|
| Chubb | $702 |
| Travelers | $743 |
| Allstate | $834 |
| Auto-Owners | $946 |
| Farmers | $956 |
| Nationwide | $966 |
| State Farm | $1,109 |
| Encompass | $1,271 |
| Erie | $1,505 |
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Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.
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Insurance Company | Average Annual Premium |
|---|---|
| Travelers | $1,048 |
| Chubb | $1,078 |
| Allstate | $1,180 |
| Nationwide | $1,210 |
| Auto-Owners | $1,271 |
| Farmers | $1,393 |
| State Farm | $1,434 |
| Encompass | $1,658 |
| Erie | $2,197 |
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Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.
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Insurance Company | Average Annual Premium |
|---|---|
| Nationwide | $1,597 |
| Travelers | $1,678 |
| Chubb | $1,709 |
| Allstate | $1,841 |
| Auto-Owners | $1,902 |
| State Farm | $1,973 |
| Encompass | $2,309 |
| Farmers | $2,329 |
| Erie | $3,082 |
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Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.
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Insurance Company | Average Annual Premium |
|---|---|
| Nationwide | $2,095 |
| Travelers | $2,411 |
| Chubb | $2,512 |
| Allstate | $2,563 |
| State Farm | $2,584 |
| Auto-Owners | $2,767 |
| Encompass | $3,072 |
| Farmers | $3,458 |
| Erie | $4,628 |
Virginia homeowners insurance cost by city
Home insurance rates vary considerably from city to city. For example, homeowners in Roanoke pay some of the state’s cheapest home insurance rates, while homeowners in Virginia Beach pay more than twice as much to insure a home with $300,000 in dwelling coverage.
In addition, local crime rates, weather patterns, building codes, and proximity to nearby fire stations can cause homeowners insurance rates to vary. For example, because Virginia is located on the ocean, homeowners in coastal cities may pay more for insurance due to an increased flood risk. Meanwhile, homeowners in inland cities may have cheaper premiums.
The table below shows the average yearly premium by city for policies with $300,000 in dwelling coverage and a $1,000 deductible.
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City | Average Annual Premium |
|---|---|
| Richmond | $926 |
| Washington | $1,058 |
| Roanoke | $1,058 |
| Virginia Beach | $2,055 |
What homeowners should know about insurance in Virginia
Virginia’s location makes it vulnerable to a unique set of weather-related insurance risks. The state may experience flooding and tropical storms during certain parts of the year, but winter storms and freezing events can occur during the colder months.[5]
Since home insurance treats different weather hazards differently, it’s important to understand what’s covered — and what’s not.
Flooding
Homeowners insurance doesn’t cover flooding from rain, tropical storms, or other outside water. If you live in an area at risk of flooding, you’ll need to purchase a separate flood insurance policy.
Tropical storms
Since homeowners insurance covers wind damage, it also covers wind damage caused by tropical storms. In Virginia, insurers may assess a separate deductible for wind or hurricane damage — typically between 1% and 5% of a home’s insured value.[6]
Freezing
A standard homeowners policy typically covers damage caused by frozen pipes. For example, if a cold snap results in a pipe freezing and then bursting “suddenly and accidentally,” your policy will likely cover it, provided you’ve taken proper steps to maintain your pipes and reduce your freezing risk.
Winter storms
Although Virginia is a coastal state, areas in the north and in the mountains experience severe winter weather. In addition to damage from freezing, your homeowners insurance policy typically covers damage from wind, snow, and ice.
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How much homeowners insurance do you need in Virginia?
While Virginia law doesn’t require homeowners insurance, your lender will require you to maintain coverage for the life of your mortgage. It’s important to understand what your policy includes and the amount of coverage you need.
Every home insurance policy has four basic types of coverage:[7]
Dwelling coverage
Dwelling coverage pays to repair or replace your home. When you start your policy, you’ll want to ensure you buy enough coverage to fully rebuild your home in the event of a total loss.
Personal property coverage
Personal property coverage pays to repair or replace your personal belongings after a covered loss. This coverage is generally a percentage of your dwelling coverage amount.
Liability coverage
Personal liability insurance protects you financially if you injure someone or damage their property.
Additional living expenses coverage
Loss of use coverage pays for hotel rooms and other expenses if a covered loss damages your home and you have to live elsewhere while it’s being repaired.
How to contact the Virginia Department of Insurance
If you have questions about homeowners insurance in Virginia or are having difficulties with your home insurance company, you can contact the Virginia State Corporation Commission’s Bureau of Insurance.
Here’s how to get in touch:
Phone: 1 (804) 371-9631
Mail: P.O. Box 1157, Richmond, VA 23218
Virginia homeowners insurance FAQs
For additional information on Virginia homeowners insurance, see the answers to frequently asked questions below.
How much is home insurance in Virginia?
The average cost of home insurance in Virginia is $1,524 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible, according to Insurify data. Your rate may vary depending on your ZIP code, your home’s value, and the coverage you choose.
Which company has the cheapest homeowners insurance in Virginia?
Travelers has the cheapest home insurance rates in Virginia, averaging $103 per month for $300,000 in dwelling coverage and a $1,000 deductible. Depending on your coverage amount, other companies may have cheaper average rates.
Does Virginia require homeowners insurance?
No. Virginia doesn’t require homeowners to have home insurance. But if you have a mortgage on your home, your lender will require you to carry homeowners insurance until you’ve paid off the loan.
How can you lower your home insurance premiums in Virginia?
The easiest ways to lower your home insurance premiums are by shopping around and comparing quotes and increasing your deductible.[8]
Does homeowners insurance cover water damage in Virginia?
A typical homeowners insurance policy covers some, but not all, types of water damage. For example, your home insurance may cover water damage caused by a frozen pipe in the winter, but not from flooding during a tropical storm.
To ensure you’re covered from flood damage, you’ll need a separate flood insurance policy, either through the National Flood Insurance Program (NFIP) or a private insurer.
What natural disasters are covered by homeowners insurance in Virginia?
Homeowners insurance covers a range of natural disasters, including windstorms, tornadoes, wildfires, and winter storms. But home insurance typically excludes floods and earthquakes. Because Virginia is on the coast, some homeowners may be at an increased risk of flooding and may want to consider a separate flood insurance policy.
Methodology
Insurify data scientists analyzed rates from more than 180 home insurance companies sourced directly from Insurify’s partner companies and Quadrant Information Services. Rates span all 50 states and Washington, D.C., and quote averages represent the mean price for a given coverage level and geographic area. To ensure data reliability, only insurers meeting minimum quote thresholds were included in the analysis.
Unless otherwise specified, quoted rates reflect the average cost for homeowners with no prior claims and good credit with a home construction year of 1980. The default coverage assumptions include:
Default Coverage Assumptions
- Dwelling coverage: $300,000
- Deductible: $1,000
- Personal property limit: $25,000
- Liability limit: $300,000
Additional data points beyond these default values are sourced from Insurify’s proprietary database. Rates are updated monthly.
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Sources
- NOAA. "Virginia Tropical Cyclone Climatology."
- Virginia Department of Conservation and Recreation. "Virginia Flood Awareness."
- J.D. Power. "2025 U.S. Home Insurance Study."
- National Association of Insurance Commissioners. "A Shopping Tool for Homeowners Insurance."
- NOAA National Centers for Environmental Information. "Billion-Dollar Weather and Climate Disasters: Virginia Summary."
- Insurance Information Institute. "Background on: Hurricane and windstorm deductibles."
- Insurance Information Institute. "What is covered by standard homeowners insurance?."
- State Corporation Commission (Commonwealth of Virginia). "Virginia Consumer's Guide for Homeowners Insurance."
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Erin Gobler is a personal finance writer and journalist based in Madison, Wisconsin. With more than five years of experience, Erin has covered topics such as investing, credit cards, mortgages, insurance, and more. Her work has been featured in major publications like Business Insider, Fox Business, and Time. Erin received her bachelor’s degree from the University of Wisconsin-Oshkosh in 2013, studying journalism and political science. She also received a certificate of financial planning from Boston University in 2022.
)
Becky Helzer is an editor at Insurify. She loves helping writers express their ideas clearly and authentically. With a diverse background in editing everything from curriculum and books to magazine articles and blog posts, she’s worked on topics ranging from home finance, insurance, and cloud computing to the best tools for home improvement.
A proud graduate of Colorado State University with a degree in technical journalism, Becky lives in Fort Collins, CO, with her husband and their two spoiled rescue dogs.
Licensed property and casualty insurance agent
10+ years editing experience
NPN: 21630969
MacKenzie Korris is an insurance copy editor with a producer’s license for property and casualty insurance in Missouri.
)
Chartered financial analyst
12+ years in data analysis and marketing
Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.
Featured in
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