Average homeowners insurance cost in Virginia

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Whether you’re a new homeowner or looking to buy insurance for your current home, securing the right homeowners’ insurance is crucial. Rates may vary depending on your insurance company and the coverage limits you choose.

According to Insure.com’s data analysis, the average cost of homeowners insurance in Virginia is $2,135 a year.

Continue reading to learn more about homeowners insurance rates in Virginia by ZIP code and insurer.

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

In Virginia, the annual homeowners insurance cost is $2,135, on average for the limits of $100,000 in liability, $300,000 in dwelling coverage and a $1000 deductible.

Increasing your dwelling coverage from $300,000 to $400,000 will raise your annual homeowners insurance premium to $2,738 in Virginia, with $100,000 in liability protection and a $1,000 deductible. Below are the average costs for homeowners insurance in Virginia based on dwelling coverage limits 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

In Virginia, homeowners insurance companies set rates by assessing various risk factors. Your location, claims history, credit history and coverage limit all affect your premium.

If multiple claims have been filed in your neighborhood over the past few years, you’ll likely face higher home insurance rates than areas with fewer 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 offers the most affordable homeowners insurance in Virginia, at an average annual premium of $865, followed by Virginia Farm Bureau and Progressive.

You can save hundreds — if not thousands — of dollars each year if you shop around for homeowners insurance.

Here are the average annual and monthly insurance rates for Virginia homeowners for a policy with $300,000 dwelling coverage and $100,000 liability protection with 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

Insurance companies in Virginia assess the risk associated with a specific location. ZIP codes prone to higher crime rates or frequent natural disasters are often classified as high-risk areas, which can lead to increased insurance premiums. The cost of rebuilding or repairing homes in a specific ZIP code can also impact how much you pay for a homeowners insurance policy.

Make sure you shop around and compare quotes from various insurance companies to get the best deal on homeowners insurance rates in Virginia. Don’t forget to ask about any available discounts, such as bundling policies or a smart home discount.

Most affordable ZIP codes for home insurance rates in Virginia

Homeowners insurance costs in Virginia can vary widely by location, with your ZIP code being a key factor in determining your rate. Based on our data, the the 22301 area has the most affordable insurance rates, at $1,503 annually or $125 monthly.

Below are the homeowners insurance rates for 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.