Average renters insurance cost in Virginia

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Renters in Virginia pay an average of $270 per year, or $22 per month for renters insurance. This is based on a standard policy covering $40,000 in personal property, $300,000 in liability, and a $1,000 deductible – a reasonable baseline for most renters.

What you actually pay will depend on your coverage amount, which insurer you choose, and personal details like your ZIP code, claims history, and in some states, your credit score.

How much does renters insurance cost in Virginia?

The average monthly cost of renters insurance in Virginia is $22 for a policy with $40,000 in personal property coverage and $300,000 in liability protection. Premiums can shift depending on where you live, how much coverage you need, and the total value of your belongings – which is why getting quotes from several insurers is a smart move.

Generally speaking, raising your deductible lowers your monthly premium, while adding coverage for valuables like jewelry or electronics increases it. Choose a deductible and coverage level that fits both your budget and replacement needs.

Renters insurance in Virginia: Where to start

Renters insurance in Virginia averages $270 per year, or $22 per month for a standard policy
If you’re looking for the lowest price, Progressive tends to offer the most competitive rates in Virginia, averaging around $184 per year
Since pricing varies widely between providers, it pays to compare a few options before making a decision

Which companies offer the cheapest renters insurance in Virginia?

Progressive offers the most affordable renters insurance in Virginia, with an average annual cost of $184. State Farm and Erie Insurance are also worth considering if you’re looking to keep costs down.

Choosing the cheapest insurer isn’t always the best option, so it’s important to review coverage limits, deductibles, and available discounts alongside price. The table below shows average annual and monthly rates from a range of insurers in Virginia.

Company	Average annual rate	Average monthly rate
Progressive	$184	$15
State Farm	$202	$17
Erie Insurance	$232	$19
Farmers	$237	$20
Universal Insurance Holding	$237	$20
American Family	$241	$20
Nationwide	$251	$21
Allstate	$293	$24
IAT Insurance Group	$305	$25
Travelers	$513	$43

Want a more accurate renters insurance estimate?

Use our calculator to get a personalized renters insurance quote based on your location and coverage needs.

Your final premium may vary depending on the insurer, coverage limits, deductible, claims history and other rating factors.

Renters insurance calculator in Virginia

$254/year

Estimated renters insurance rates in Virginia

$21

Monthly renters insurance cost in Virginia

-6%

Compared to national average

How much does renters insurance cost by coverage level in Virginia?

At the standard coverage level – $40,000 in personal property, $300,000 in liability, and a $1,000 deductible – renters insurance in Virginia averages $270 per year.

If you reduce your personal property coverage to $20,000, that average drops to around $190 annually. Before making that adjustment, it’s worth confirming that $20,000 would genuinely cover the cost of replacing your belongings.

The table below compares average annual renters insurance costs in Virginia at both the $20,000 and $40,000 coverage levels.

Coverage level	Average annual renters insurance rate	Average monthly renters insurance rate
$20,000 with $500 Deductible and $100,000 Liability	$193	$16
$20,000 with $500 Deductible and $300,000 Liability	$206	$17
$20,000 with $1,000 Deductible and $100,000 Liability	$177	$15
$20,000 with $1,000 Deductible and $300,000 Liability	$190	$16
$40,000 with $500 Deductible and $100,000 Liability	$277	$23
$40,000 with $500 Deductible and $300,000 Liability	$292	$24
$40,000 with $1,000 Deductible and $100,000 Liability	$254	$21
$40,000 with $1,000 Deductible and $300,000 Liability	$270	$22
$60,000 with $500 Deductible and $100,000 Liability	$360	$30
$60,000 with $500 Deductible and $300,000 Liability	$377	$31
$60,000 with $1,000 Deductible and $100,000 Liability	$330	$28
$60,000 with $1,000 Deductible and $300,000 Liability	$348	$29

People also ask: How much renters insurance coverage do I need?

Coverage needs vary from person to person, but a common starting range is $20,000 to $40,000 in personal property protection and at least $300,000 in liability coverage. The right amount ultimately comes down to the value of what you own, whether any of your items warrant separate endorsements, and how much of a financial cushion you want between you and an unexpected loss.

How much does renters insurance cost by city in Virginia?

Renters insurance rates in Virginia aren’t the same across the board – where you live within the state can make a noticeable difference. Local factors like crime rates, weather exposure, and population density all influence what insurers charge.

Here’s a look at how average rates compare across major cities in Virginia.

Renters insurance rates in Virginia by city

See rates in your city

Does your ZIP code affect renters insurance rates in Virginia?

Your ZIP code is one of the most significant factors in how insurers price your policy. Areas with higher rates of theft, more frequent weather events, or a greater number of past claims tend to see higher premiums – even for the same level of coverage.

In Virginia, annual rates range from roughly $234 in 22820 to $365 in 23459. Below are the cheapest and most expensive ZIP codes for renters insurance in Virginia.

Why your ZIP code affects renters insurance costs

Insurers use neighborhood-level risk data when calculating your premium, which means rates can differ significantly from one ZIP code to the next.

Key factors include:

Theft and vandalism rates in your area
Exposure to weather risks like hurricanes, wildfires, or flooding
Historical fire claims and local rebuilding costs

Even shifting a few ZIP codes can change what you pay each month.

What are the most affordable ZIP codes for renters insurance in Virginia

22820 has the lowest average annual renters insurance cost at $234.

Areas with fewer theft incidents and lower weather-related claim activity tend to have more affordable premiums overall.

ZIP code	City	Average annual rate	Average monthly rate
22820	Criders	$234	$20
24487	Burnsville	$236	$20
24433	Doe Hill	$237	$20
22067	Greenway	$238	$20
24562	Howardsville	$239	$20
24468	Mustoe	$239	$20
22812	Bridgewater	$240	$20
24316	Broadford	$240	$20
22035	Fairfax	$240	$20
24471	Port Republic	$240	$20

What are the least affordable ZIP codes for renters insurance in Virginia

At the other end of the spectrum, 23459 has the highest average renters insurance cost in Virginia, at $365 per year or $30 per month.

Below are average annual rates across all ZIP codes in Virginia, based on quotes from major providers.

ZIP code	City	Average annual rate	Average monthly rate
23459	Virginia Beach	$365	$30
23440	Tangier	$352	$29
23310	Cape Charles	$348	$29
23664	Hampton	$342	$29
23405	Machipongo	$339	$28
23307	Birdsnest	$334	$28
23125	New Point	$334	$28
23336	Chincoteague	$333	$28
23511	Fleet	$333	$28
23441	Tasley	$333	$28

How to lower your renters insurance, even in a high-cost ZIP code

Get quotes from at least 3 insurers – rates for identical coverage can differ by $100 or more within the same ZIP code
Bundle your renters and auto insurance to cut 5% to 15% off your premium
Ask about discounts for safety features like smoke detectors, deadbolts, security systems, or smart home devices
Raise your deductible from $500 to $1,000 – this alone can reduce your premium by around 10%
If you haven’t filed a claim in 3 or more years, ask about a claims-free discount

Is renters insurance worth it in Virginia?

For the vast majority of renters in Virginia, a renters insurance policy is a smart financial decision. It covers your personal belongings against fire, theft, vandalism, and certain disasters, and provides liability protection if a guest is injured in your home.

Data from the US Department of Commerce, US Census Bureau, and American Community Survey shows that roughly 48% of renter households in the US spend more than 30% of their income on housing costs – which means every recurring expense, including insurance, deserves careful consideration.

The best approach is to compare policies rather than just prices. Coverage quality, deductibles, and customer service all factor into whether a policy is actually good value. Paying a little more for stronger coverage often makes sense when it’s time to file a claim.

Frequently asked questions

What does renters insurance actually cover?

Renters insurance typically covers your personal belongings, liability protection and additional living expenses if your rental becomes uninhabitable. This includes damage or loss from events like fire, theft and vandalism, as well as legal or medical costs if someone is injured in your home. Coverage details vary by policy, so it’s important to review limits and exclusions.

Do I really need renters insurance in Virginia?

Renters insurance isn’t always required by law, but it’s often worth having because it protects your belongings and provides liability coverage. Even a basic policy can cover thousands of dollars in losses from theft, fire or damage, which can be costly to replace out of pocket. Many landlords also require renters insurance as part of the lease.

Sources:

Insurance Information Institute. Facts + statistics: Renters insurance. Accessed May 2026.

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Alisha Ambre

Alisha Ambre holds a Bachelor of Arts with honours in English Literature and Media Studies. She focuses on crafting clear, engaging content that makes complex information feel practical and approachable for everyday readers. When she’s not writing, she’s likely on the volleyball court or immersed in a good video game.