Average homeowners insurance cost in Virginia

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Whether you’re buying a new home or want to protect the property you currently own, it’s important to have sufficient homeowners insurance coverage in place. However, home insurance policies can get expensive, depending on your insurer and the coverage level you choose.

On average, Virginia homeowners insurance costs $2,135 a year, based on Insure.com’s data.

Learn more about the average homeowners insurance rates by company and ZIP code in Virginia.

Key Takeaways

Homeowners insurance costs an average of $2,135 a year, based on Insure.com analysis.
Of all the ZIP codes in Virginia, 22301 has the most affordable home insurance rates at around $1,503 annually.
In Virginia, American Family provides the most affordable home insurance at an average annual premium of $865.

Average home insurance cost in Virginia by coverage level

The average cost of homeowners insurance in Virginia is $2,135 per year for the coverage limits of $300,000 dwelling coverage and $100,000 liability with a $1,000 deductible.

However, if you increase the dwelling coverage limit from $300,000 to $400,000, you will pay $2,738 per year for homeowners insurance in Virginia for $100,000 in liability protection and $1,000 deductible. Below, you can find the average cost of homeowners insurance in Virginia for dwelling coverage of $300,000, $400,000 and $500,000.

Coverage	Average annual rate	Average monthly rate
$200,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible	$1,630	$136
$200,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible	$1,645	$137
$300,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible	$2,135	$178
$300,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible	$2,151	$179
$400,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible	$2,738	$228
$400,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible	$2,752	$229
$600,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible	$4,098	$342
$600,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible	$4,120	$343
$1,000,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible	$6,908	$576
$1,000,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible	$6,935	$578

Homeowners insurance companies in Virginia decide rates based on risk. They consider your location, claims history, credit history and coverage limit when calculating premiums.

If your neighborhood has seen many claims over the past few years, you can expect to pay higher home insurance rates than an area with few to no claims. Your credit score can also play a role in determining your home insurance costs.

According to S&P Global Market Intelligence’s RateWatch application, the average homeowners insurance premium for owner-occupied homes nationwide increased by over 11% in 2023.

Best homeowners insurance companies in Virginia

It’s always wise to shop around and compare prices before you buy homeowners insurance. There are many factors that go into deciding the best homeowners insurance company.

We have compared the insurers in Virginia using their NAIC score and AM Best rating and compiled a list of the best homeowners insurance in Virginia. Based on the analysis, American Family received the lowest NAIC score and A rating from AM Best. A lower NAIC score indicates fewer complaints relative to the company’s size, suggesting higher customer satisfaction.

Company	Average annual premium	AM Best rating	NAIC Complaint Index	Overall score
American Family	$865	A	0.37	5
Farmers	$3,168	A	0.54	4.97
State Farm	$1,419	A++	0.95	4.9
Nationwide	$1,722	A+	0.87	4.74
Allstate	$1,822	A+	0.9	4.71
Travelers	$5,098	A++	0.54	3.86
Progressive	$1,353	A+	8.45	3.67

Average homeowners insurance cost by company in Virginia

American Family has the cheapest homeowners insurance rates in Virginia. Its average annual cost for Virginia homeowners is $865. Virginia Farm Bureau and Progressive also offer affordable insurance.

By comparing homeowners insurance rates, you could save hundreds, if not thousands, of dollars annually.

The table below shows the average annual and monthly insurance rates for homeowners in Virginia with $300,000 in dwelling coverage, $100,000 in liability coverage, and a $1,000 deductible.

Company	Average annual rate	Average monthly rate
American Family	$865	$72
Virginia Farm Bureau	$1,074	$90
Progressive	$1,353	$113
State Farm	$1,419	$118
Erie Insurance	$1,700	$142
Nationwide	$1,722	$143
Allstate	$1,822	$152
Farmers	$3,168	$264
Travelers	$5,168	$431

Virginia homeowners insurance rates by ZIP code

In Virginia, insurance companies evaluate the risk associated with specific locations to determine premiums. ZIP codes with higher crime rates or a history of natural disasters are often considered high-risk, resulting in higher insurance premiums. Additionally, the cost of rebuilding or repairing homes in a particular ZIP code can influence your price for a homeowners insurance policy.

Shop around and compare quotes from different insurance companies to find the best home insurance rates in Virginia. Also, remember to inquire about any discounts, such as bundling policies or smart home discounts, to help lower your premium.

Most affordable ZIP codes for home insurance rates in Virginia

Home insurance costs vary across different areas in Virginia. What you pay for homeowners insurance depends on several factors, including your ZIP code. According to our data, the 22301 ZIP code has the lowest home insurance rates in Virginia, at $1,503 annually or $125 per month.

Here are the homeowners insurance rates for some of the most affordable ZIP codes in Virginia.

ZIP code	Average annual rate	Average monthly rate
22301	$1,503	$125
22044	$1,515	$126
22207	$1,518	$127
22203	$1,522	$127
22201	$1,523	$127
22043	$1,527	$127
22304	$1,540	$128
22205	$1,541	$128
22305	$1,542	$129
22332	$1,545	$129

Most expensive ZIP codes for home insurance rates in Virginia

Your ZIP code plays a significant role in determining the cost of your homeowners insurance. In Virginia, some areas face higher premiums due to factors like high crime rates, greater risk of natural disasters and higher living expenses.

In Virginia, 23459 has the highest homeowners insurance rates, at $4,177 per year.

Here, we’ve highlighted some of the most expensive ZIP codes in Virginia for homeowners insurance:

ZIP code	Average annual rate	Average monthly rate
23459	$4,177	$348
23461	$3,993	$333
23457	$3,809	$317
23451	$3,723	$310
23310	$3,638	$303
23336	$3,556	$296
23307	$3,467	$289
23405	$3,465	$289
23454	$3,427	$286
23664	$3,411	$284

Home insurance rates vary from one city to another. But with Insure.com, finding the right home insurance policy is easy. Learn more about homeowners insurance costs for different cities below.

Home insurance rates in Virginia by city

See rates in your city

Home insurance rate trend in Virginia

We analyzed home insurance rate trends in Virginia and found that homeowners insurance rates experienced an overall increase of 8% or $153, from 2022 to 2023.

The below data shows how much homeowners insurance rates have changed since 2019.

2019 rates	2022 rates	2023 rates
$1,695	$1,982	$2,135

To find the right homeowners insurance, research thoroughly and compare costs from multiple insurers, as they assess risk differently. Getting quotes from at least three companies helps ensure you get the most affordable coverage in Virginia.

Resources & methodology

Source

S&P Global. “US homeowners insurance rates jump by double digits in 2023.” Accessed September 2024.

Methodology

Insure.com worked with Quadrant Information Service to get homeowners insurance data. We analyzed 20,739,560 insurance quotes from 82 national and regional insurance companies across 34,588 ZIP codes to determine the average premiums.

The insurance rates are based on a sample profile of a homeowner with good credit and the following coverage level:

$300,000 dwelling coverage
$100,000 liability protection
$1000 deductible

We have taken into account 3 important factors such as average annual cost, NAIC score and AM Best rating, to determine the list of best homeowners insurance companies. The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.