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

Charter Oak Fire provides the cheapest homeowners insurance with an average cost of $1,431 per year.

To help you save money on homeowners insurance, we’ve researched the industry and can suggest three particular insurers with the most affordable coverage on average in Virginia. Read on for our recommendations and tips for shopping around and saving money on homeowners insurance.

Key Takeaways

  • At $119 per month, Charter Oak Fire offers the cheapest homeowners insurance in Virginia with $300,000 dwelling coverage, $300,000 liability protection and $1,000 deductible.
  • After Charter Oak Fire, Travco and Erie Insurance offer cheaper homeowners insurance in Virginia.
  • Amongst all the large cities surveyed by Insure.com in Virginia, the city with zip code 22746 offers the cheapest homeowners insurance at $131 per month or $1,572 annually.

Cheap homeowners insurance companies in Virginia

Charter Oak Fire, Travco and Erie Insurance have the lowest average home insurance rates with $300,000 dwelling and $300,000 liability coverage with a $1,000 deductible.

Here are the average Virginia homeowners insurance rates by company. You may wonder: How much is homeowners insurance a month in Virginia? We included those averages, too:

CompanyAverage annual premiumAverage monthly premium
Charter Oak Fire$1,431$119
Travco$1,465$122
Erie Insurance$1,597$133
Nationwide$1,665$139
Allstate$1,760$147
Mid Century$1,801$150
Safeco$2,031$169
State Farm$2,213$184
LM Insurance$3,341$278
Liberty Mutual$3,455$288
First Liberty$3,615$301
Farmers$5,237$436

Compare cheap homeowners insurance in Virginia by ratings

It’s always wise to shop around and compare prices before you buy your home insurance. There are many factors that go into deciding the best homeowners insurance company. We have compared the insurers in Virginia using their J.D. Power score and AM Best rating and put together a list of the cheap homeowners insurance companies.

CompanyJ.D. Power scoreAM Best rating
Erie Insurance835A+
State Farm835A++
Allstate829A+
Farmers813A
Nationwide812A+
Safeco810A
Liberty Mutual806A

How much is home insurance in Virginia

The average Virginia homeowners insurance is $1,956 for a policy with $300,000 dwelling coverage and $300,000 liability with a $1,000 deductible. Experts recommend at least $300,000 liability coverage to protect your home against lawsuits. The average Virginia home insurance costs are $349 less than the national average.

Actual home insurance costs vary depending on multiple metrics, including location, claims history and discounts, such as auto and home bundling.

For instance, home insurance premiums are partially based on the home’s claims history (even from before you bought the property) and your neighbor’s claims history.

Homeowners insurance companies decide upon rates based on risks. 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 your home insurance costs.

Average annual premiumAverage monthly premium
$1,956$163

Cheapest homeowners insurance in Virginia by ZIP code

Not every city in Virginia have the same home insurance costs. The price of homeowners insurance depends on a lot of different factors and one of them is your zip code. The least expensive zip code for home insurance in Virginia is 22746 with an average annual premium of $1,572 per year.

Find below the homeowners insurance annual and monthly rate for your zip code.

ZIP codeAverage annual premiumAverage monthly premium
22746$1,572$131
22724$1,586$132
22902$1,596$133
20147$1,598$133
22901$1,599$133
22718$1,600$133
22903$1,603$134
22737$1,605$134
22935$1,608$134
22741$1,610$134
24153$1,611$134
24059$1,617$135
24019$1,620$135
24011$1,622$135
24087$1,626$136

Find home insurance rates in cities of Virginia

Virginia Beach$3,106 /Year
Carrollton$2,367 /Year
Saint Paul$1,890 /Year
Markham$1,760 /Year
Reston$1,705 /Year
Ashburn$1,644 /Year
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