Best Cheap Home Insurance Companies in Virginia

Best cheap home insurance in Virginia

Cheapest home insurance in Virginia

American Family has the cheapest home insurance in Virginia, at $745 per year on average. Farmers and Farm Bureau also offer average rates cheaper than $900 per year.

Virginia's average home insurance rate is $1,290 per year, around 15% cheaper than the national average of $1,516.

Cheap home insurance quotes in Virginia

If you live on the Virginia coast, like Norfolk or Virginia Beach, you may have more limited options for home insurance companies in 2023. Companies like The Hartford, Nationwide and USAA have stopped offering new homeowners insurance policies in some areas of coastal Virginia with higher flooding risks.

Best Virginia home insurance for most people: American Family

American Family (AmFam) has the best home insurance for most homeowners in Virginia, with the cheapest rates, convenient online tools and highly customizable coverage.

At $745 per year on average, American Family home insurance policies are almost half the price of the state average. AmFam also offers a number of additional discounts to help you save even more, including a diminishing deductible, which lowers your deductible by $100 for every year you don't file a claim.

AmFam offers three main coverage tiers, along with add-ons you can get for an extra fee, including uncommon options like matching siding protection, which pays up to $20,000 to replace both damaged and undamaged siding so they'll match as closely as possible.

American Family received around 20% fewer complaints than similar insurance companies. This means that homeowners are generally happy with American Family's customer support.

American Family has a convenient mobile app, where you can file and track the status of any claims, pay your bills online and view your ID card. Unfortunately, American Family does not offer instant online quotes for policies in Virginia, so you'll need to contact an agent to get home insurance quotes.

Best customer service: Farm Bureau

Farm Bureau has the best customer service for homeowners in Virginia, receiving only 2% of the customer complaints expected of a company its size. With such low complaint numbers, it is clear that most homeowners are happy with the service they get from Farm Bureau.

At less than $900 per year, Farm Bureau's rate is nearly one-third cheaper than the state average. While you can get some standard discounts like new home or bundling discounts, Farm Bureau doesn't offer many unique options for homeowners to save money on their policies.

Farm Bureau also offers all the standard home coverage, providing coverage to your home and personal belongings. The company offers limited add-on options, which include:

Best home insurance for military families: USAA

The best homeowners insurance choice for members of the military and their families in Virginia is USAA. USAA has highly regarded customer service and a variety of coverages designed for members of the military.

USAA's personal property coverage protects your belongings, even in war zones, while most homeowners insurance companies specifically exclude active war areas from coverage. Also, your home insurance deductible is waived on claims for your uniform while you're on active duty.

Unfortunately, USAA is only available to people who've served in the military or who have family members that were USAA customers. USAA also offers very few discounts to lower your rates, and while it has very strong general coverage like full replacement cost and landlord coverage, there are limited add-ons to increase the protection for your home.

Best home insurance for high-value homes: Chubb

Chubb has the best home insurance for high-value homes in Virginia, providing highly customizable coverage.

Chubb home insurance averages $964 per year, but you can find a wide selection of discounts to save, including discounts for new or renovated homes or for having burglar or fire alarms.

While this protection is impressive, Chubb policies have a high minimum coverage requirement, meaning that you need to have a high-value home or property to cover to be eligible for these policies.

The most notable feature of Chubb home insurance is that base coverage includes protection for:

You can also pay for a number of add-ons to further enhance your policy, including flood insurance and equipment breakdown.

Virginia home insurance rates by city

Belmont is the cheapest city for home insurance in Virginia, with an average rate of $987 per year, while Virginia Beach is the most expensive city, at $2,184 per year on average, almost 70% more expensive than the state average.

The best homeowners insurance companies in Virginia

Erie and State Farm also have high customer satisfaction scores among the best home insurance companies in Virginia.

The most common homeowners insurance risks in Virginia: High winds and flooding

Virginia faces significant risk from hurricanes and other ocean-related storms with its position on the East Coast of the U.S. These can cause wind, rain and flood damage, and while they happen mostly in the summer and fall, other storms like nor'easters can strike any time of year.

Is wind damage covered by home insurance in Virginia?

With more than 500 reports of high winds in Virginia, wind damage causes over $4 million in damage to Virginia homes every year.

If your home is more likely to suffer wind damage, you may want to take steps to protect it. You can do this by pruning limbs off nearby trees, or you can ensure that dead or decaying trees are removed before they cause damage to your home.

Is flood damage covered by home insurance in Virginia?

Forty-seven counties in Virginia reported flash flood damage last year, totaling more than $2.66 million in damage throughout the year.

If your home is at high risk for flood damage, you will need to get an additional flood insurance policy to cover the potential cost from damage to your property. You can either purchase a policy through a private insurance company or from the National Flood Insurance Program (NFIP).

Frequently asked questions

Methodology

To find the best home insurance in the state, we compared quotes from all across Virginia for a home built in 1982 with a value of $273,100, based on the median age and value of Virginia homes, according to the latest U.S. Census data.

Home insurance ratings are created based on a combination of complaint data from the National Association of Insurance Commissioners (NAIC), the J.D. Power customer satisfaction survey and ValuePenguin's own editorial ratings.

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.