The Best and Cheapest Home Insurance Companies in Virginia

Find the Cheapest Homeowners Insurance Quotes in Your Area

Currently insured?
{"id":6,"isAgeFieldVisible":true,"isInsuranceTypeFieldVisible":true,"isInsuredStatusFieldVisible":true,"customEventLabel":"","defaultZip":"","defaultProduct":"home","quoteWizardEndpoint":"https:\/\/quotes.valuepenguin.com","trackingKey":"_best-cheap-homeowners-insurance-vir","title":"Find the Cheapest Homeowners Insurance Quotes in Your Area","vendor":"vp"}

After collecting thousands of quotes across Virginia, we recommend Travelers Insurance as the best home insurance company for most people. Its rates are much cheaper than the statewide average of $1,341 per year, and it offers the best overall combination of affordability, coverage options and strong customer service. Read on for more picks, or use the quote box above to get quotes from local insurers near you.

The best homeowners insurance companies in Virginia

After doing a comprehensive analysis considering price, coverage options, customer service and more, we've made a recommendation we think is right for most homeowners in Virginia, along with other choices for people in more specific situations.

Best for most people: Travelers Insurance

Travlers has affordable prices and well-regarded customer service, so it's a solid choice for most Virginians.

Our recommendation for most Virginia homeowners is Travelers insurance. It has the best overall mix of affordable rates, coverage options and highly regarded customer service.

With an average price of $850 per year, its rates are 37% lower than the overall VA average and among the cheapest we found. In addition, we were impressed by Travelers' coverage options and well-reviewed customer service. Travelers has an impressively low complaint index of 0.09 from the National Association of Insurance Commissioners, meaning the company gets far fewer complaints than a typical company of its size.

Travelers has a robust online presence, so you can shop for quotes and manage your policy online. It also offers car insurance, though it doesn't offer other financial services like banking or credit cards.

Best for military families: USAA

USAA has very well-reviewed customer service, and appealing coverage benefits for people in the military.

The best homeowners insurance choice for members of the military and their families is USAA. USAA has highly regarded customer service and a variety of coverages especially appealing to members of the military. For example, its personal property coverage protects your belongings, even in war zones — most homeowners insurance companies specifically exclude active war areas from coverage. And your homeowners insurance deductible is waived while you're on active duty, too.

Due to a technical limitation, we were unable to get insurance quotes for USAA in Virginia. However, a study done by the Virginia Department of Insurance found that its rates are among the most affordable for Virginia homeowners.

Besides home insurance, USAA offers a wide range of financial products, including auto and other kinds of insurance, bank accounts and credit cards. This makes it a very convenient option for soldiers and their families, especially as many of USAA's branches are located in or near military bases.

The only potential drawback to USAA is that its services are only available to people who've served in the military or who have family members that were USAA customers.

Best for cheapest rates: Nationwide

Nationwide's rates were the most affordable we found in Virginia.

Homeowners who are focused on affordable rates above all else should start with Nationwide. It offers the absolute lowest rates across the Commonwealth of Virginia, with an overall average of $828 annually. That's 38% cheaper than the overall average we found, though it's only $22 less than our overall top choice.

Nationwide's online functionality is somewhat limited. Unlike our top pick, Travelers, Nationwide doesn't offer online quotes, so you'll have to speak with an agent to get a quote. And its customer service is not as highly rated as Travelers, either.

Additionally, homeowners insurance costs vary highly based on the specific details of your home: where it is, how big it is, how much it costs and much more. While Nationwide is the cheapest overall in Virginia, it doesn't universally have the lowest price.

Best for high-value homes: Chubb

Chubb insurance has policies that are tailor-made for high-end homes.

We recommend Chubb Insurance for owners of high-value homes. Chubb specializes in providing coverage and service tailored to more expensive homes, including those with high manufacturing costs or in hard-to-reach locations. For example, the company provides a cash-out option if your home is totally destroyed. This means you can simply keep the payout instead of being required to use it to rebuild your house.

While the company's rates aren't the lowest in the state, its average price for our sample home of $1,121 is still below the overall average of $1,341. However, it's worth noting that Chubb generally has a minimum coverage limit — you must buy a certain dollar amount of insurance coverage from Chubb in order to qualify.

The best reviewed homeowners insurance companies in Virginia

When shopping for homeowners insurance, price is always a key consideration, but you should also be thinking about an insurer's customer service capabilities and financial stability. When reviewing insurance companies, two key pieces of information we look at are a company's complaint index from the National Association of Insurance Commissioners (NAIC) and its A.M. Best financial strength rating.

2018 size rankInsurerNAIC complaint indexA.M. Best rating
1USAA0.15A++
2State Farm0.2A++
3Allstate0.31A+
4Travelers0.09A++
5Nationwide0.31A+
6Liberty Mutual0.53A
7Erie0.17A+
8American Family Insurance0.68A
9Farmers0.39A
10Virginia Farm Bureau0A-
11Chubb0.14A++

A company's NAIC complaint index compares the number of complaints it's been the subject of, relative to its total annual premiums charged. The national average is 1.0, and a lower score is better.

A.M. Best's financial strength rating (FSR) describes an insurance company's overall financial position, as well as its ability to meet claim demands. The highest grade is A++, and a higher score means that the company has a better ability to pay out claims even in the face of economic downturn or time of increased claims (such as a hurricane or major wildfire).

The cheapest options for homeowners insurance in Virginia

When shopping for home insurance, finding an affordable option is always a key consideration. With that in mind, here are the most affordable options for home insurance in Virginia, averaged statewide.

Bar chart showing the cost of the most affordable home insurers in Virginia

Keep in mind that homeowners insurance quotes vary greatly based on location, coverage amount and specific details of your property. The rates you'll receive from each of these companies will likely differ from our results.

The most common homeowners insurance perils in Virginia

As a state along the Atlantic coast of the United States, Virginia faces significant risk from hurricanes and other ocean-related storms. The most common time of year for these massive storms is summer and fall, though other storms like nor'easters can strike at other times of year. The main types of damage these can cause to homes are from wind, rain and flooding, and hail.

Is wind from hurricanes and other sources covered by home insurance?

Wind is the most common cause of damage to homes in the United States, and fortunately, it's covered by nearly all homeowners insurance policies. It's one of the main named perils included on even the most basic policies. Furthermore, the financial losses caused by wind damage tend to be lower than those caused by other perils, such as fires.

If your home is especially likely to experience wind damage — such as if you live near the coast or there are many trees on your property — you may want to take extra steps to minimize damage. For instance, you may prune some of the limbs off the nearby trees or install storm shutters to protect your windows during storms. And keep in mind that property you typically keep outside usually isn't covered for wind damage. This means it's best to put away items such as lawn furniture before a storm hits.

Is flooding from hurricanes and other storms covered by home insurance?

Besides wind, flooding is one of the most common causes of home damage during a major storm. But unlike wind, flooding and water damage from rain is almost never covered by a typical homeowners insurance policy.

The two biggest contributors to your home's flood risk are its elevation and its distance to major bodies of water. A home that's 100 yards from the ocean but located at the top of a hill is much less likely to flood than one that's only a few feet above sea level. If your home is at risk of flooding, you'll need to buy a standalone flood insurance policy to cover the potential costs.

You have two main options for flood insurance: a program called the National Flood Insurance Program (NFIP) that is backed by the federal government or one that's sold totally privately. NFIP flood insurance rates are set by the government, so you'll pay the same amount regardless of which company you buy from. On the other hand, the cost and coverage options from totally private flood insurance policies vary among insurance companies.

We recommend getting quotes for both NFIP and private flood insurance policies in order to find the best rates for your home. However, note that NFIP policies have a maximum dwelling coverage limit of $250,000, so if you need more than that to adequately protect your home, you're better off with private flood insurance.

Is damage from hail or snow covered by insurance?

Hail and snow are less common in Virginia than wind and flooding, but they do still occur: hail in the warmer months and snow in the winter. Both of these perils are covered by a typical home insurance policy.

Keep in mind that some home insurance policies have a limitation for cosmetic damage from hail. If hail leaves dents in your property that are unsightly but don't affect the function of the item, you may not be able to make a claim for the damage.

Virginia insurance rates: City-by-city breakdown

In addition to a statewide analysis of insurance rates, we also did a city-by-city comparison of insurance costs. We included the average cost of insurance for each city, plus how it compares to Virginia's statewide average of $1,341 per year.

CityAverage annual cost% difference from average
Alexandria$997-26%
Annandale$1,024-24%
Arlington$995-26%
Ashburn$1,057-21%
Bailey's Crossroads$1,016-24%
Blacksburg$1,141-15%
Burke$1,046-22%
Cave Spring$1,128-16%
Centreville$1,040-22%
Chantilly$1,053-21%
Charlottesville$1,086-19%
Chesapeake$1,81635%
Chester$1,245-7%
Christiansburg$1,149-14%
Dale City$1,116-17%
Danville$1,3420%
Fair Oaks$1,043-22%
Fairfax$1,031-23%
Franconia$1,042-22%
Fredericksburg$1,098-18%
Hampton$1,80435%
Harrisonburg$1,075-20%
Herndon$1,036-23%
Hopewell$1,3914%
Lake Ridge$1,104-18%
Leesburg$1,036-23%
Lincolnia$1,035-23%
Linton Hall$1,104-18%
Lorton$1,052-22%
Lynchburg$1,182-12%
Manassas$1,135-15%
Marumsco$1,105-18%
McLean$1,008-25%
McNair$1,033-23%
Mechanicsville$1,145-15%
Montclair$1,117-17%
Newport News$1,67225%
Norfolk$1,91042%
Oakton$1,027-23%
Petersburg$1,3894%
Portsmouth$1,84037%
Reston$1,033-23%
Richmond$1,260-6%
Roanoke$1,163-13%
Rose Hill$1,131-16%
Salem$1,123-16%
Short Pump$1,157-14%
South Riding$1,044-22%
Springfield$1,033-23%
Staunton$1,155-14%
Sterling$1,058-21%
Suffolk$1,62221%
Tuckahoe$1,278-5%
Tysons Corner$1,010-25%
Virginia Beach$2,07355%
Waynesboro$1,151-14%
West Falls Church$1,044-22%
West Springfield$1,035-23%
Winchester$1,161-13%
Woodlawn$1,170-13%

If you're interested in how much homeowners insurance costs in other states, take a look at our nationwide study of average home insurance rates.

Methodology

We collected hundreds of homeowners insurance quotes across the state of Virginia from seven of the top insurance companies in the state. Our sample property was a 2,000-square-foot home built in 1980, with $273,400 of dwelling coverage.

Insurers included:

  • Allstate
  • Chubb
  • Farmers
  • Nationwide
  • State Farm
  • Travelers
  • Virginia Farm Bureau

Due to a technical limitation, we were unable to include USAA, the largest insurer in Virginia, from our price study.

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.

Comments and Questions

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.