How much is renters insurance in Virginia Beach, Virginia

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The average cost of renters insurance in Virginia Beach, Virginia is $332 per year – $62 more than the state average of $270 annually.

A renters insurance policy protects your personal belongings from events like fire, smoke, theft, and vandalism, and provides liability coverage if you’re found responsible for injuring someone or damaging their property.

Your rate will vary based on the insurer you choose, your deductible, coverage limits, ZIP code, and the discounts available to you.

How to get the best deal for renters insurance in Virginia Beach

Get quotes from a minimum of three insurers – rates differ considerably between providers, and switching can mean hundreds in annual savings.
Bundle your renters policy with auto or another insurance policy under the same provider to unlock a discount.
Increase your deductible from $500 to $1,000 – this move alone can save you $21 per year.
Look into discounts tied to safety features such as deadbolts, smoke detectors, or a home security system.
Pay your full annual premium in one payment instead of monthly – most insurers offer a discount for this.

What is the average cost of renters insurance per month in Virginia Beach?

Renters insurance in Virginia Beach doesn’t come with a single price tag – what you pay each month depends on your insurer and how much coverage you choose. For a policy with $20,000 in personal property coverage and a $1,000 deductible, the average premium runs $19 per month.

Moving up to $40,000 in personal property coverage raises the typical monthly rate by about $9 more, landing at $28. That rate reflects $40,000 in personal property protection, $100,000 in liability coverage, and a $1,000 deductible – $6 more than the state monthly average of $22.

Key takeaways

A renters policy covers your personal belongings and provides liability protection inside your rental
Renters insurance in Virginia Beach averages $332 per year
Among local insurers, Erie Insurance offers the lowest rates in the city
What you pay hinges on your coverage limits, ZIP code, insurer, and any discounts you’re eligible for
If your home is filled with electronics, jewelry, or quality furniture, higher coverage limits are worth the extra cost

How much is renters insurance in Virginia Beach? Rates by deductible

In Virginia Beach, a renters insurance policy with $20,000 in personal property coverage and a $500 deductible averages $253 per year.

Your deductible is what you contribute before your insurer covers the rest of a claim. Opting for a higher deductible is one of the quickest ways to reduce your premium – moving from $500 to $1,000 can cut $21 from your yearly cost.

The table below outlines average premiums by coverage amount and deductible.

Deductible	Rates with $20,000 personal property	$40,000 personal property	$60,000 personal property
500	$253	$360	$467
1000	$232	$332	$431

Who offers affordable renters insurance in Virginia Beach?

For the lowest rates in Virginia Beach, Erie Insurance leads the way at $222 annually or $18 per month. Progressive is the next most affordable option, followed by Universal Insurance Holding.

Below is a comparison of the most affordable renters insurance providers in Virginia Beach, including average annual and monthly rates.

Renter insurance provider	Average annual rate	Average per month rate
Erie Insurance	$222	$18
Progressive	$235	$20
Universal Insurance Holding	$238	$20
Farmers	$269	$22
Nationwide	$289	$24
Allstate	$308	$26
State Farm	$325	$27
IAT Insurance Group	$355	$30
American Family	$375	$31
Travelers	$701	$58

How to lower the cost of renters insurance

You can lower the cost of renters insurance by shopping around, bundling policies, and going for a higher deductible.

Bundle policies. Combining your renters, auto, or other coverage under one insurer typically earns you a discount across your policies.
Increase your deductible. Opting for a higher deductible will reduce your premium immediately – provided you’re confident you can cover that amount if a claim arises.
Choose the right coverage amount. Look over your policy every year. If your possessions are modest in value, there’s a good chance you’re paying for more personal property coverage than you actually need.
Avoid filing small claims. Submitting several small claims over time can accelerate rate increases more than a single larger claim. Where the cost is manageable, paying directly is often the smarter move.
Improve your credit score. Insurers in most states incorporate your credit score into their pricing. Improving it is one of the more impactful steps you can take to reduce what you pay.
Compare quotes every renewal. Your rate today may not be the best rate available. A few minutes spent comparing quotes at each renewal can add up to significant annual savings.

Renters insurance replaces what you own if it’s stolen or damaged, and it covers you financially when you’re liable for someone else’s loss. Getting quotes from multiple insurers and making use of available discounts are the most straightforward ways to secure a fair rate.

Frequently asked questions

Is renters insurance required in Virginia Beach?

It isn’t required by state law, though some landlords make it a condition of renting. Either way, a policy provides valuable protection for your belongings and covers you if a visitor is injured on your property.

What does renters insurance cover?

Renters insurance covers personal belongings lost or damaged through covered events, liability if you’re held responsible for injury or property damage, and temporary housing costs if your rental becomes unlivable after a covered incident.

How much renters insurance do I need?

A good starting point is enough to replace all of your possessions. For anyone with higher-value items – think electronics, jewelry, or collectibles – it’s worth looking at higher limits or adding scheduled item coverage.

Who has the cheapest renters insurance in Virginia Beach?

Erie Insurance offers the most affordable rates in Virginia Beach, averaging $18 per month.

Methodology

Insure.com worked with Quadrant Information Services to compile renters insurance rate data for Virginia Beach, using a policy with $40,000 in personal property coverage, $300,000 in liability coverage, and a $1,000 deductible. All rates are based on a good credit tier profile.

How much is renters insurance in other cities?

See rates in your city

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.