Home Insurance in Virginia

Q: How much is the average house insurance in Virginia?

On average, Virginia residents pay $1026 per year for home insurance. This equals $86 per month or $513 per six months. Home insurance prices vary significantly based on insurance company and the level of risk they believe you represent. To find out what your home insurance should cost, use the ValChoice home insurance calculator.

Q: How much home insurance do I need?

For most people, their home is their largest investment. Therefore, you want to properly protect your home and belongings found in the home. To do this, make sure you have enough insurance to:

  • Replace your belongings
  • Rebuild your home
  • Pay for your living expenses while the home is being rebuilt

You also need to make sure you have enough liability insurance to cover the cost of someone getting injured on your property. Click here for the ValChoice home insurance estimator to find out what your insurance should cost.

Q: Who has the best home insurance in Virginia?

ValChoice does the most complete an thorough analysis available for car and home insurance companies. To get quality ratings on the best home insurance companies in Virginia, click this link and order the report.

Q: What Home Insurance is the cheapest in Virginia?

Insurance prices vary widely from one company to another. Therefore, to find the cheapest home insurance you need to get multiple quotes. Don’t focus only on price, also check how good the company is about paying claims with a ValChoice home insurance rating. Click this link to get your rating.

Q: Does home insurance go up every year in Virginia?

For the last 20 years, homeowner’s insurance has increased as a similar rate as health insurance. In VA home insurance increased % in the last five years.

5 Best Home Insurance Companies in Virginia

ValChoice uses multiple sets of data collected by the Virginia department of insurance, and other sources, to determine the top rated insurance companies. We analyze the data to determine the best home insurance companies in VA. Our objective is to let consumers know the best insurance companies so you can make informed decisions when buying protection for you and your family.

Surprisingly (or maybe not so surprisingly) it's often not the market share leaders that rank highest for best insurance. Why is that? The reason is the industry is focused on delivering low-cost offerings. Low prices often come at the expense of good claims handling.

ValChoice analysis includes price (value), claims handling (quality) and overall service as the three factors used in our ratings. Price is not the only factor that matters when buying quality coverage.

Best Homeowners Insurance in Virginia

ValChoice Score
Amica Mutual
100 out of 100
MutualAid eXchange
100 out of 100
CHUBB INA
99 out of 100
Homeowners of America Insurance Company
96 out of 100
USAA
95 out of 100
All ratings are based on high-quality data and analysis. Data sources include: SERFF, state insurance commissioners, National Association of Insurance Commissioners, AM Best Company and S & P Market Intelligence. Data used by permission.
Published by ValChoice on October 23, 2020

 

Get a Rating for Your Virginia Home Insurance and Car Insurance Companies

ValChoice ratings analyze the value, claims handling and service insurance companies provide. Find out how your insurance company rates by clicking the buttons below. We've discounted the premium report (a $9.95 value) to $0 for users that click the buttons below.

FREE CAR INSURANCE RATING
 — OR — 
FREE HOME INSURANCE RATING

 

Renters Insurance

Many companies that offer homeowners insurance also offer renters insurance. The ValChoice grading system applies to renters insurance as well as home insurance. To get a report on renters insurance, simply select homeowners insurance and choose the type of insurance report card you would like to have.

Flood Insurance

Flood insurance is offered separately from homeowners insurance. Talk to your insurance company or insurance agent if you wish to purchase flood insurance. At this time ValChoice does not grade any flood insurance offerings. For more information on flood insurance, read our blog post titled "10 Facts About Flood Insurance, Without Drowning in Details."

Getting an Insurance Quote

When getting a homeowners insurance quote, be sure to consider the following important items.

Amount of Coverage

The dollar amount of insurance coverage to purchase should be equal to the estimated cost of rebuilding the home. Do not include the property value when determining the amount of insurance to buy.

Extended Dwelling Endorsement

This coverage is often referred to as “extras.” This is additional coverage that addresses the problem that occurs when the actual cost to rebuild the home is more than was estimated when buying the insurance. In situations where there is a catastrophic event such as a flood, tornado or hurricane, building costs can increase significantly due to building materials increasing in price and contractors being scarce. Extended dwelling endorsements cover this higher than expected building cost. Extended dwelling endorsements are typically offered as a percentage of the coverage amount. The amount offered is commonly 10%, 25%, 50% or 100% of the coverage.

Building Code Coverage

When rebuilding a home, local laws will require that you rebuild to current building codes. If building damage is extensive, sometimes the laws even require you to upgrade the undamaged portion of the home to meet current building codes. This can be a significant additional expense. It's common that a homeowners insurance policy will exclude or limit the coverage for conforming to current building codes. Be sure to understand this important point about the insurance you buy.

Loss of Use

This specifies how much and how long the insurance company will pay for you to live somewhere else while your home is being rebuilt or repaired. One year in loss of use coverage is common. If your home requires a total rebuild, it’s wise to plan on a couple years for the project to be completed.

Covering Your Personal Items (“Contents”)

Your personal items will commonly be covered by what’s known as “replacement cost” coverage. This means you only get paid when you actually replace the item. There are two important items to understand here. 1) You must have a detailed home inventory to know what you had in order to replace these items, and 2) if you had $200,000 worth of contents and only replaced $20,000 worth of items, you would only receive the $20,000. “Replacement cost” sounds good. In reality, it may leave you far short of what you expected.

 

Want the best auto insurance and homeowners insurance in Virginia?

ValChoice grades every auto insurance company and every homeowners insurance company in every state where they do business. Click the buttons below to find the best car insurance and best home insurance companies in Virginia.

BEST VIRGINIA CAR INSURANCE — OR — BEST VIRGINIA HOME INSURANCE

 

Get a Car Insurance Price Estimate with this Virginia Car Insurance Calculator

ValChoice also offers car insurance calculators. Just click the button below to be taken to the page with the Virginia car insurance premium calculator.

VIRGINIA CAR INSURANCE CALCULATOR