Virginia Homeowners Insurance Quotes (2024)

State Auto and Nationwide offer some of the best homeowners insurance policies in Virginia.

Catherine Collins
Catherine Collins

Catherine leverages her background in education and finance to write articles that help readers make informed decisions about their insurance and finances.

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Chris Schafer
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Chris Schafer
Chris SchaferSenior Editor
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Andrew Huang
Data reviewed byAndrew Huang
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Andrew HuangVice President, Performance Marketing
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  • 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.

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Updated March 30, 2023

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If you live in Virginia or are moving there soon, you need to know a few things about getting the best homeowners insurance policy. Homeowners insurance in Virginia costs $168 per month on average. Many different companies offer affordable home insurance in Virginia, such as State Auto, Travelers, and SageSure.

If you already live in Virginia, you know there are plenty of reasons to love calling this state home. However, because of its location on the Atlantic coast, Virginians can experience hurricanes and tropical storms. Additionally, Virginia experiences tornadoes, severe thunderstorms, earthquakes, drought, and extreme heat. For these reasons, you should pay close attention when purchasing a Virginia homeowners insurance policy to see that the coverage matches your needs. Also, make sure to add any additional coverage, like flood coverage, if necessary.

Best home insurance companies in Virginia

When you’re shopping for a home insurance company, it’s important to choose one that offers more than just competitive rates. Your home insurance company should also have strong financials, a reliable reputation, and great customer service.

Here’s a list of the top insurers in Virginia based on Insurify research.

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Best large insurer: Nationwide

Nationwide is one of the largest insurance companies in America. It has the highest J.D. Power score of all the companies mentioned on this list (816 out of 1,000 points).[1]

The average cost for a Nationwide home insurance policy is $107 per month.

Pros
  • Covers common unexpected issues like theft, fire, weather damage, and lawsuits

  • Offers several homeowners insurance discounts

  • Covers brand-new belongings, providing money for the depreciated value initially and paying the difference upon receiving the replacement’s receipt

Cons
  • Homeowners insurance might not cover things like expensive jewelry

  • Must purchase flood insurance separately

  • Some perks only available to high-net-worth clients who are Nationwide Private Clients

Best insurer for cheap rates: State Auto

The best insurer for cheap rates in Virginia is State Auto. The goal of State Auto is to provide affordable insurance rates and prompt responses to claims. Virginians pay an average of $76 per month for State Auto coverage.

Pros
  • In business for almost 100 years

  • A- (Excellent) financial rating from A.M. Best

  • Known for handling claims quickly

Cons
  • Outdated website

  • A.M. Best downgraded rating from an A

  • Not rated in the J.D. Power 2022 Home Insurance Study

Best for hurricane coverage: Hippo

Virginia homeowners face the danger of hurricanes and tropical storms, and Hippo aims to help homeowners stay ahead of these perils through innovative home tech solutions. Coverage from Hippo costs an average of $154 per month.

Pros
  • Policies include smart home monitoring

  • Policies include home tech that can alert you to a water leak

  • User-friendly website

Cons
  • A relatively new company, founded in 2015, so it’s not rated by many of the leading rating companies

  • Low Better Business Bureau score of 3.17 out of 5 stars[2]

  • Must usually purchase flood insurance separately

Best insurer for high-value homes: Acuity

Homeowners who have high-value homes might want to get a quote from Acuity. Acuity also offers home business insurance and additional jewelry insurance riders if you need to insure specific pieces.

Rates are also reasonable, averaging $114 per month.

Pros
  • Insures more than $6 billion of policyholder assets

  • A.M. Best rating of A+[3]

  • Established in 1925 and has excellent customer service ratings

Cons
  • Not available in all 50 states

  • Rates are slightly higher

  • Fewer discount options than some competitors

Best regional insurance company: Loudoun Mutual Insurance Company

Loudoun Mutual Insurance Company is based in Waterford, Virginia. It’s been in operation for more than 150 years.

Pros
  • A- (Excellent) ranking from A.M. Best

  • More than 150 years of experience

  • Serves thousands of customers in Virginia

Cons
  • Auto insurance isn’t available, which makes bundling difficult

  • Only available in Virginia

  • You can’t get a quote online, so you likely have to work directly with an agent

Methodology

Insurify’s team of data scientists analyze millions of home insurance quotes, and weigh publicly available reviews, claims payout rates, complaint indexes, financial strength scores, company reputations, and proprietary quoting data. Our editorial team applies this insight to inform our unbiased reviews and recommendations.

How much is homeowners insurance in Virginia?

Homeowners in Virginia pay an average monthly premium of $168. Your premium costs will depend on your personal situation and your location, as some areas in Virginia are more prone to natural disasters than others.

Additionally, the type of home insurance policy you select will also affect your rates. A basic policy may provide coverage for damage caused by fires and storms, but it won’t cover flooding or earthquakes.

“In some cases, particularly on the coast, there may be a separate wind/hail policy,” says Kara Herring, president of Don Bullard Insurance. These separate policies are called endorsements, which provide extra coverage for perils not covered by your basic insurance plan. “To protect your home, a separate flood policy should be purchased,” Herring adds.

Some other factors that can influence home insurance prices include the age and condition of your home, the amount of coverage you choose, and any discounts that may be available. For example, you can often save money by bundling your home and auto insurance policies.

How your policy choices affect home insurance rates in Virginia

Here’s a closer look at some of the key components of your policy that affect your monthly premium.

Your policy form

Several different home insurance policy forms are available. The most common are HO-2, HO-3, and HO-5, and each offers different coverage for perils.

A peril is an event that causes damage to your property or belongings. Some common perils include fire, theft, vandalism, wind, hail, and flooding. It’s important to understand which perils your homeowners insurance policy covers and which ones it doesn’t.

  • HO-1 policy: This is the most basic form of home insurance and covers only a few perils, such as fire and lightning. This type of policy is the cheapest option but also offers the least coverage and, for this reason, isn’t widely available. 

  • HO-2 policy: This is a basic policy that covers 16 named perils, such as fire, lightning, theft, and vandalism. 

  • HO-3 policy: This policy type covers everything except for what’s specifically excluded in the policy. 

  • HO-5 policy: This is the most comprehensive type of home insurance available and provides open perils coverage.

Your coverage level

When it comes to home insurance, the higher your coverage level, the higher your premiums will be. That’s because the more coverage you have, the more protection you’re getting from your insurance company.

Lowering your coverage level can help you lower your premium, but always make sure your coverage level still meets your needs.

Your deductible

Your deductible is the amount of money you have to pay out of pocket before your home insurance policy kicks in. The higher the deductible, the lower your premiums will be since you’re taking on more of the risk yourself.

When choosing your deductible, make sure it’s an amount you can afford if you need to file a claim.

Read More: How Much to Make Your Homeowners Insurance Deductible

How location affects home insurance rates in Virginia

Where you live can have a dramatic effect on your home insurance rates. This is because the location and climate in Virginia mean that certain parts of the state are susceptible to tropical storms and hurricanes.

Additionally, if you live in a location with a high crime rate, that can contribute to higher rates too, as your home is more at risk. Alternatively, living next to a fire station could lower your home insurance rates.

Here’s an example of the average monthly rates in five Virginia cities.

CityAverage Monthly Quote
Glen Allen$213
Henrico$126
Petersburg$169
Portsmouth$354
Suffolk$220
Table data sourced from real-time quotes from Insurify’s partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer’s unique profile.

What are the cheapest home insurance companies in Virginia?

The cheapest home insurance companies in Virginia are State Auto, Travelers, and SageSure. Premiums from all three of these companies cost less than $100 per month on average, which is much lower than the average monthly homeowners insurance cost in Virginia of $168 per month.

Your homeowners insurance rate will depend on many different factors, including the location, size, and age of your home. So your specific needs might result in a more expensive quote than the average monthly quote examples below.

Insurance CompanyAverage Monthly Quote
State Auto$76
Travelers$92
SageSure$94
Mercury$101
Nationwide$107
Acuity$114
Liberty Mutual$130
Stillwater$131
CSAA$152
Hippo$154
Table data sourced from real-time quotes from Insurify’s partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer’s unique profile.

How much homeowners insurance do you need in Virginia?

If you purchase a home using a mortgage, your mortgage company will likely require you to purchase a home insurance policy. That’s why it’s important to get quotes from at least three different companies and compare their offerings.

Make sure you understand everything your policy covers, including the perils. Daniel Roccato, a clinical professor of finance at the University of San Diego, says, “Don’t assume that your regular homeowners policy protects you against all possible hazards.” 

If you notice flooding is excluded from your policy, for example, you might need to purchase additional flood insurance.

A typical homeowners policy has several standard components, including coverage for your home’s structure, your personal belongings, liability protection, and additional living expenses. But it might not cover everything. 

Roccato cautions, “Do your homework and get the right coverage — before Mother Nature pays you a visit.”

See Also: How Much Homeowners Insurance Do You Need?

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What home insurance coverages should you buy in Virginia?

If you purchase a homeowners policy in Virginia, make sure it includes the following:

  • Home’s structure: Your policy exists to help repair or replace your home in the event of unexpected damage. You should purchase enough insurance to rebuild your home if you have to.

  • Personal belongings: If your belongings are stolen or destroyed, your insurance can cover the cost to replace them. Keep in mind, though, that your policy likely has limits. If you have particularly expensive jewelry or equipment, you might need to purchase additional coverage.

  • Liability protection: If someone gets hurt on your property, this part of your insurance policy could help cover your legal fees up to a certain limit.

  • Additional living expenses: If your home is damaged or destroyed, you’ll likely need to live elsewhere while your home is rebuilt. This part of your insurance policy pays for your living expenses.

What optional home insurance coverages should you buy in Virginia?

Here are some things that are typically not covered by your home insurance policy. You can find a list of what’s covered and what’s not by reading your home insurance policy.

  • Earthquake damage: Most insurance companies don’t provide coverage for damage caused by earthquakes.[4] However, many of them do offer endorsements, which are policies you can purchase to add to your main homeowners insurance plan. If you live in an area prone to earthquakes, ask about adding on an earthquake endorsement.

  • Flooding: Similar to earthquakes, most homeowners insurance policies don’t cover flooding caused by natural disasters. If you live in an area like Virginia, which frequently experiences hurricanes, it may be wise to purchase flood insurance. You can purchase flood insurance through the National Flood Insurance Program (NFIP) or through some private insurers.

  • Termites, insects, rats, or mice: You’re responsible for the maintenance of your home, so most home insurance policies won’t cover damage caused by termites, insects, rats, or mice, as it’s the homeowner’s responsibility to keep their home free from pests.

How much home insurance coverage should you have in Virginia?

The amount of homeowners insurance you need will depend on the size of your home, its age, and most importantly, the location. For example, if you live on the coast of Virginia or in areas prone to flooding, you might want to consider purchasing extra coverage, like flood insurance.

Of course, no single home insurance policy will work for every homeowner, so make sure to get homeowners insurance quotes from at least three different insurance providers before choosing one.

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

Owning a home in Virginia comes with its own set of risks. To protect against these natural disasters, it’s important for you to get a good homeowners insurance policy that covers all potential hazards.

  • Hurricanes: This is one of the more common natural disasters in Virginia due to its location on the coast. The first reference to a hurricane in Virginia dates back to 1635, and hurricanes continue to make their way up the eastern coast regularly.

  • Flooding: Because Virginia is susceptible to hurricanes, homeowners might need to ensure they have adequate flood insurance to protect against the associated storm surge and other flooding.

  • Earthquakes: Since 1977, more than 160 earthquakes have occurred in Virginia, although only 16% of them were felt. They aren’t as common in Virginia as tropical storms and hurricanes, but they still happen on occasion.

How can you save money on homeowners insurance in Virginia?

Virginia homeowners enjoy relatively affordable home insurance rates, but you may be able to reduce your home insurance expenses by applying these strategies:

Bundle home and auto insurance

Most insurance companies offer discounts if you buy your homeowners insurance and car insurance from the same company. The size of the discount varies by company, and some companies offer additional bundling opportunities you can pursue.

Increase your deductible

Your deductible is the amount you pay out of pocket to cover a claim before your insurance kicks in. Generally, raising your deductible will lower your monthly insurance premiums. Just remember to never set your deductible above what you can afford to pay.

Repair your home

A home with old pipes or a subpar foundation is at a greater risk of damage. Repairing these shortcomings puts insurance providers at ease and can qualify your home for more discounts.

Comparison shop

Home insurance rates vary from company to company. It’s a good idea to get quotes from at least three different companies before choosing a policy. Comparing these rates side by side is the best way to get the coverage you need at a price that fits your budget.

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Average home replacement cost in Virginia

When you purchase homeowners insurance, it’s important to have adequate coverage to meet the replacement cost of your home. The replacement cost is the amount of money you would need to replace your entire home at the price you paid for it in the event of an accident or disaster. This is different from actual cash value, which provides you money for what your home and items are worth after factoring in depreciation.

Here’s a look at the average home values in five Virginia cities.

CityAverage Home Value
Fairfax$473,701
Richmond$307,539
Sterling$353,875
Virginia Beach$296,123
Williamsburg$374,768

Learn More: Replacement Cost vs. Market Value

Virginia home insurance FAQs

Here are answers to some frequently asked questions about Virginia home insurance.

  • How much is home insurance a month in Virginia?

    The average home insurance policy in Virginia costs $168 per month. Depending on where you live in the state, you might need to purchase secondary coverages, like flood insurance, which could increase your total monthly cost for home insurance.

  • Is homeowners insurance expensive in Virginia?

    Homeowners insurance in Virginia is relatively affordable compared to other states. It’s not as affordable as a state like Arizona, where the average homeowners insurance policy is $117 per month, but it’s not as expensive as Oklahoma, where the average is $341 per month.

  • What are the three main types of homeowners insurance?

    The three main types of homeowners insurance are replacement cost, extended replacement cost, and actual cash value.

    Replacement cost is just as it sounds. It’s what you would pay to replace any of your damaged home or personal possessions without depreciation. Actual cash value pays for the current market value, which includes depreciation (so you may not be able to replace some things if they’re not worth as much now). Extended replacement cost is usually the most expensive of the three because it will pay to repair or replace your home or items, even if the repair costs exceed your policy limits.

  • Does Virginia require homeowners insurance?

    Virginia law doesn’t require home insurance. However, your mortgage company will likely require you to have it. It’s a good idea to purchase home insurance, though, because it protects you, your home, and your belongings if the unexpected happens. It also helps protect you from liability if someone gets hurt on your property.

Sources

  1. J.D. Power. "Bundle Fumble? Rising Auto Insurance Premiums are Killing Home Bundles, J.D. Power Finds."
  2. Better Business Bureau. "Hippo Insurance Services."
  3. A.M. Best. "Acuity, A Mutual Insurance Company."
  4. State Corporation Commission. "Homeowners Insurance Consumer’s Guide."
Catherine Collins
Catherine Collins

Catherine Collins is a freelance financial writer and author based in Detroit. She's the co-founder of MillennialHomeowner.com and MomsGotMoney.com, and author of the book Mom’s Got Money: A millennial mom’s guide to managing money like a boss. She has written for US News, Huffington Post, Money, Business Insider, Investopedia, Entrepreneur, Go Banking Rates, and many other publications. She currently resides in Detroit, Michigan with her boy-girl twins and a rescue dog named Julep.

Chris Schafer
Edited byChris SchaferSenior Editor
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

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Andrew Huang
Data reviewed byAndrew HuangVice President, Performance Marketing
Headshot of Andrew Huang, Directory of Analytics at Insurify
Andrew HuangVice President, Performance Marketing
  • 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.

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