Key Takeaways
- Virginia Farm Bureau has the cheapest home insurance in Virginia, with premiums averaging $298 a month.
- State Farm has the best customer satisfaction scores among Virginia’s top home insurance companies.
- Virginia’s average cost of homeowners insurance is over $600 per year lower than the national average.
In this article
The cheapest home insurance providers in Virginia
Virginia Farm Bureau is the cheapest homeowners insurance provider in Virginia, charging an average rate of $880 a year. That’s $73 if paid monthly.
| Insurance company | Annual premium |
|---|---|
| Virginia Farm Bureau | $880 |
| Travelers | $992 |
| State Farm | $1,131 |
| Erie Insurance | $1,136 |
| Nationwide | $1,191 |
| State average | $1,242 |
| Chubb | $1,318 |
| Farmers | $1,525 |
| Allstate | $1,759 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Travelers, State Farm, Erie and Nationwide also offer home insurance to Virginians that is cheaper than the state average. Travelers’ average premiums, in particular, are 20% lower than the state average. (Virginia Farm Bureau’s average premiums are 29% lower than the state average.)
Keep in mind that the figures highlighted above are average premiums. What you pay for home insurance in Virginia might be less than these amounts, but it also could be more. This is because insurance companies consider many factors when calculating a quote.
To get the best price on a policy as well as the coverage you need, compare home insurance quotes from several companies.
See how much you could save on home insurance
How much is home insurance in Virginia?
The average cost of home insurance in Virginia is $1,242 a year, or $103 a month.
This is 35% lower than the average cost of home insurance in the U.S., which is $1,903 a year, or $159 a month.
Companies consider several factors when calculating a homeowners insurance premium. Among these factors are your insurance claim history, the age of your home and the materials used to build your home.
The deductible and dwelling coverage amounts you choose also figure into what you pay for home insurance. For example, one way to lower your home insurance premium is to raise your deductible. If you increase your home insurance deductible from $500 to $2,000, you can decrease your annual premium by 18%, on average.
| Deductible amount | Annual premium |
|---|---|
| $500 | $1,340 |
| $1,000 | $1,242 |
| $1,500 | $1,169 |
| $2,000 | $1,099 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
For dwelling coverage, though, a lower dwelling coverage amount usually results in a lower premium, too.
| Dwelling coverage amount | Annual premium |
|---|---|
| $200,000 | $1,002 |
| $275,000 | $1,242 |
| $350,000 | $1,489 |
| $425,000 | $1,751 |
| $500,000 | $2,034 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
If you have a mortgage on your home, your lender will likely require you to insure it for its replacement value. That means you won’t be able to choose a lower dwelling coverage amount even if you want to do so.
The best home insurance companies in Virginia
Virginia Farm Bureau is the best homeowners insurance company in Virginia, based on our survey of the state’s top providers. If customer service and satisfaction are important to you, consider State Farm, too.
Virginia Farm Bureau: Best overall
Virginia Farm Bureau is the state’s best home insurance company for a few reasons. The main one is that it offers the cheapest premiums in the state, at an average of $73 a month.
Also, Virginia Farm Bureau has the best National Association of Insurance Commissioners (NAIC) Complaint Index rating of the companies we surveyed. The NAIC Complaint Index compares insurance companies by confirmed complaints. A company with a 2.0 Complaint Index rating has twice as many confirmed complaints as expected for its size. A 0.5 rating reflects half as many complaints as expected.
You do need to pay a $40 annual membership fee to buy home insurance from Virginia Farm Bureau. Membership offers more than just access to affordable insurance rates, though; it also provides access to travel, hotel and car rental discounts.
State Farm: Best for customer satisfaction
Of the providers included in our survey, State Farm received the best customer satisfaction score of 829 from the J.D. Power 2022 U.S. Home Insurance Study. This study examines customer satisfaction in the home insurance industry. Scores are based on customer surveys that rate home insurers on interaction, policy offerings, price, billing process, policy information and claims. Higher scores are better than lower ones.
Along with its impressive customer reputation, State Farm’s average home insurance premium is 9% lower than the state average. The company offers many coverage options, too, including coverage for other structures, temporary living expenses and guest medical protection.
Customer service ratings for Virginia home insurance companies
State Farm and Virginia Farm Bureau have the best customer satisfaction and service scores of Virginia’s top home insurance companies.
| Insurance company | Overall satisfaction score |
|---|---|
| Allstate | 815 |
| Chubb | 809 |
| Erie Insurance | 827 |
| Farmers | 792 |
| Nationwide | 816 |
| State Farm | 829 |
| Travelers | 794 |
| Virginia Farm Bureau | Not included |
| Source: J.D. Power 2022 U.S. Home Insurance Study. | |
Although State Farm received the highest score from J.D. Power’s 2022 U.S. Home Insurance Study, other providers earned good scores, too, like Erie, Nationwide and Allstate.
Virginia Farm Bureau has the best NAIC Complaint Index rating of the top providers we surveyed in the state. In fact, its rating suggests it received no complaints during NAIC’s reporting period.
| Insurance company | Complaint Index rating |
|---|---|
| Allstate | 0.33 |
| Chubb | 0.07 |
| Erie Insurance | 0.14 |
| Farmers | 0.38 |
| Nationwide | 0.75 |
| State Farm | 0.35 |
| Travelers | 0.08 |
| Virginia Farm Bureau | 0.00 |
| Source: National Association of Insurance Commissioners (2022 data) | |
Chubb, Travelers and Erie Insurance also have great NAIC Complaint Index ratings, though. As such, definitely consider them if customer service and satisfaction are important to you.
Get affordable home insurance in Virginia
How much does home insurance cost in Virginia by city?
Arlington homeowners pay the lowest average home insurance premiums among Virginia’s biggest cities at $1,006 a year, or $84 a month.
Homeowners in Virginia Beach pay the state’s highest home insurance rates. Its premiums average $158 a month – an 88% increase over Arlington’s average.
| City | Annual premium |
|---|---|
| Virginia Beach | $1,900 |
| Chesapeake | $1,623 |
| Arlington | $1,006 |
| Norfolk | $1,803 |
| Richmond | $1,185 |
| Newport News | $1,507 |
| Alexandria | $1,048 |
| Hampton | $1,607 |
| Suffolk | $1,583 |
| Roanoke | $1,049 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Virginia Beach
State Farm has the cheapest home insurance in Virginia Beach. Its average premium is 20% lower than runner-up Nationwide.
| Insurance company | Annual premium |
|---|---|
| State Farm | $1,023 |
| Nationwide | $1,284 |
| Virginia Farm Bureau | $1,586 |
| Farmers | $1,615 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Chesapeake
State Farm and Nationwide are the cheapest homeowners insurance companies in Chesapeake, too. At $1,048 a year, State Farm’s average premium is nearly $600 a year cheaper than the city average.
| Insurance company | Annual premium |
|---|---|
| State Farm | $1,048 |
| Nationwide | $1,293 |
| Virginia Farm Bureau | $1,308 |
| Chubb | $1,515 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Arlington
Virginia Farm Bureau is the best option for cheap home insurance in Arlington. It offers an average premium of $632 a year. Travelers and Erie also offer affordable premiums, though, so don’t ignore them while shopping for home insurance in this Virginia city.
| Insurance company | Annual premium |
|---|---|
| Virginia Farm Bureau | $632 |
| Travelers | $655 |
| Erie Insurance | $681 |
| State Farm | $906 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Norfolk
For cheap homeowners insurance in Norfolk, get a quote from State Farm. Its average premium is $1,080 a year, which is 20% cheaper than second-place Nationwide.
| Insurance company | Annual premium |
|---|---|
| State Farm | $1,080 |
| Nationwide | $1,351 |
| Virginia Farm Bureau | $1,579 |
| Farmers | $1,778 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Richmond
Travelers charges the cheapest home insurance rates in Richmond. Its average of $881 a year is 26% cheaper than the city average.
| Insurance company | Annual premium |
|---|---|
| Travelers | $881 |
| Virginia Farm Bureau | $921 |
| Erie Insurance | $1,034 |
| State Farm | $1,142 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
How much does home insurance cost in Virginia by county?
The lowest home insurance rates among Virginia’s 10 largest counties can be found in Arlington County. There, homeowners pay an average of $84 a month.
| County | Annual premium |
|---|---|
| Fairfax | $1,044 |
| Prince William | $1,044 |
| Virginia Beach | $1,900 |
| Loudoun | $1,007 |
| Chesterfield | $1,163 |
| Henrico | $1,143 |
| Chesapeake | $1,623 |
| Arlington | $1,006 |
| Norfolk | $1,809 |
| Richmond | $1,317 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Home insurance risks in Virginia
Virginia homeowners regularly experience hurricanes and flooding due to living in a coastal state. Both weather events often increase home insurance rates.
Flood insurance in Virginia
Standard home insurance does not cover flood damage, but you can get flood coverage through the National Flood Insurance Program (NFIP). NFIP flood insurance in Virginia costs $67 a month, on average.
Homeowners who live in a special flood hazard area, or SFHA, and have a government-backed mortgage are required to have flood insurance. We recommend buying flood insurance even if it’s not required if you live in an area with a moderate or high flood risk.
To see your home’s flood risk, or the flood risk of a home you want to buy, check out the Flood Map Service Center on the Federal Emergency Management Agency (FEMA) website. Any zone beginning with the letter A or V is high risk.
Hurricane coverage in Virginia
Virginia’s frequent hurricanes significantly affect the state’s home insurance rates. The good news here is that standard home insurance policies generally cover wind damage.
That said, states along the East Coast require homeowners insurance policies to have a hurricane deductible that may be higher than a standard deductible. It is typically between 1% and 5% of a policy’s dwelling coverage amount. So, if you have a policy with $250,000 in dwelling coverage and a 5% hurricane deductible, you would pay the first $12,500 in damages before your home insurer would cover the rest.
Frequently asked questions
Home insurance costs $103 a month in Virginia, on average. You may pay more or less than this for a policy, depending on various factors. For example, if you choose a higher deductible, your premium should be lower. If you need more dwelling coverage, your premium will be higher.
Virginia Farm Bureau has the cheapest home insurance rates in Virginia, charging an average $73 a month.
Virginia law does not require homeowners to buy insurance. If you have a mortgage, though, your lender probably will require you to get it.
Methodology
We collected quotes from every ZIP code in Virginia for a standard HO-3 homeowners insurance policy using the following coverages:
- $275,000 dwelling (unless otherwise noted)
- $27,500 other structures
- $137,500 personal property
- $55,000 loss of use
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible (unless otherwise noted)
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