Who Has The Cheapest Renters Insurance Quotes in Virginia?

Find the Cheapest Renters Insurance Quotes in Your Area

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Virginia has a number of large cities and much of the Washington D.C. metropolitan area so there are many renters. We conducted a study to see which cities and towns had the cheapest renters insurance rates, and found that there was a 28% difference in cost between the highest and lowest locations in Virginia. The study evaluated quotes for a sample property (a rental property with roughly 1,000 square feet of living space and $100,000 in liability coverage) so rates have comparative value, but are not indicative of what tenants can expect to pay for their renters insurance. Read more below, or enter your zip code to get quotes from a list of renters insurance companies.

Cheapest Renters Insurance in Virginia

To find the cheapest renters insurance for Virginia, we gathered our data from quotes from five renters insurance providers for a 1,000 square-foot home. We found that our sample renters policy showed that State Farm had the cheapest renters insurance with an annual rate of $117. This rate was about 63% lower than the average annual rate for Virginia. In contrast, Liberty Mutual had a significantly more expensive renters insurance with an annual rate of $610. The following table ranks the companies from cheapest to most expensive according to our analysis:

Rank

Cheapest Renters Insurance CompanyAverage Annual Rates

1

State Farm$117

2

Allstate211

3

Nationwide300

4

Farmers323

5

Liberty Mutual610

Average312

The above rates were for a profiled property. We encourage you to obtain quotes for yourself from multiple insurance companies to compare and find the best rate.

Best Renters Insurance Rates in Virginia: by City

The cheapest places for renters insurance in Virginia are scattered throughout the state. None are major metropolitan areas, but they are located near or adjacent to larger cities. The best city for renters insurance, Alexandria, ranked with rates that were 7.6% cheaper that the state average for the sample property.

Rank

CityAverage Annual Rate*% Difference vs State Average

1

Alexandria$290-7.0%

2

Leesburg291-6.9%

3

Radford292-6.5%

4

Hillsville292-6.5%

5

Christiansburg292-6.3%

*The Average Annual Rate has been rounded to the nearest whole dollar amount.

Alexandria, VA

Having served as the home to multiple historical figures, including George Washington, Alexandria is a hub of culture, entertainment and historical significance. Located on the Potomac River, the city offers multiple historic tours, shopping, a nationally recognized art center and museums. It posted the best renters insurance rates in Virginia for our sample property in Virginia, where premiums are 7% lower than our study’s average for the state.

Leesburg, VA

Rich with a vibrant lifestyle, Leesburg currently hosts live Fridays at the beginning of every month with live music, art shows and dining. After celebrating its 250th year as a city, Leesburg altered its flag to include the colors white, blue and yellow. The town also is known for its garden show, which highlights a variety of gardens and vendors in the spring. Leesburg was barely edged out by Alexandria as the 2nd cheapest rates for renters insurance in Virginia, with quotes for our sample property just 6.9% lower than the state average.

Radford, VA

For a brief time period in 1974, Radford had its own baseball team, The Radford Rockets. Multiple politicians and famous athletes have come from the area including Richard Howard Poff and Kevin Hartman. We found the third most affordable renters insurance quotes in Radford, where rates are 6.5% lower for the sample property than the state average found in our study.

Hillsville, VA

Hillsville placed as the location with the fourth lowest renters insurance rates in VA. Located in the Blue Ridge Mountains, Hillsville was founded in 1878, and has monthly downtown celebrations and an annual flea market and gun show. The sample property in Hillsville also costs 6.5% less to insure than that average for the state.

Christiansburg, VA

Home of the inspiration for the soft drink, Dr. Pepper, Christiansburg is also the site of the first known recorded duel with rifles. Christiansburg is the fifth cheapest place for renters insurance in Virginia, where premiums for the sample home are 6.3% lower than our study’s average for the state.

Most Expensive Renters Insurance in Virginia

The places with the most expensive renters insurance premiums are located throughout the state of Virginia. We found that it cost as much as 16% more to insure our benchmark unit in the most expensive location than the average spot in Virginia.

Rank

CityAverage Annual Rate*% Difference vs State Average

1

Galax$37219.1%

2

Winchester37018.6%

3

South Boston37018.4%

4

Norfolk34811.4%

5

Richmond3347.0%

*The Average Annual Rate has been rounded to the nearest whole dollar amount.

Galax, VA

Known as the gateway to the Blue Ridge Mountains, Galax is the location of the annual Old Time Bluegrass Fiddler’s Convention. For at least 80 years, the convention has featured fiddler and folk music from all over. Renters insurance rates for our sample property were most expensive in Galax, where they are 19.1% higher than the state average rate.

Winchester, VA

Known as the “Apple Capital,” Winchester was very important during the Civil and Revolutionary War because of its access to both the North and South. Many relics from its historical past are still present in the old town, including the headquarters of George Washington and Stonewall Jackson. Every spring, more than 250,000 people visit the small town for four days to take part in the Shenandoah Apple Blossom Festival, which also include the world’s largest fireman’s parade. The cost of renters insurance in Winchester is nearly as much as Galax. To insure the sample property for our study in Winchester, tenants pay 18.6% more in premiums than the average for the state.

South Boston, VA

The small town has three rivers flowing through, the Dan, Staunton and Banister Rivers. It also is home to the annual Halifax County Fair. Until recently, tobacco fueled the town’s economy - the town once had the second largest bright leaf tobacco market in the country. Today, many of the agricultural buildings house a performing arts theater, art gallery, classroom and banquet and education facilities, as well as a center for business and art innovation. Renters insurance quotes for South Boston residents are 18.4% more that the state average to insure the sample property used for our study.

Norfolk, VA

As one of the state’s largest cities, Norfolk has multiple festivals, attractions and museums that draw a multitude of tourists every year. There are historical churches, a gospel festival, the Virginia Arts Festival, a ballet, symphony, an opera and the Chrysler Museum of Art. The town is also home of Norfolk Naval Base, the largest naval base in the world and the Norfolk Southern Railway. The sample property renters insurance premiums in Norfolk are 11.4% more than the state average.

Richmond, VA

In 2004, Inc. Magazine named Richmond, Virginia’s capital, in 2004 as one of the “Top 25 Cities for Doing Business In.” The same year, the city was selected as one of the “Most Livable Mid-Sized Cities” by Partners for Livable Communities, with a population of about 200,000. Richmond has a rich history as one of the first European settlements in 1644 featuring Fort Charles after being visited by Captain James Smith and his team in 1604. At 7% more than the average premium for the state, Richmond is the fifth most expensive place in Virginia to insure our study’s sample rental property.

Average Cost of Renters Insurance in Virginia: by City

For our study, we gathered renters insurance quotes for the sample property from five major carriers across 77 cities in Virginia. Using that data, we calculated a mean rate of $312 and found that the most expensive premiums in Virginia were 28% higher than the cheapest. Relative to other states, that difference between the cheapest and the most expensive is mild. For example, the most expensive city in Delaware is only 7% more expensive than the cheapest, while the most expensive in California is more than 2x the cheapest.

This graph compares the cost of insuring a sample property in Virginia across 70+ cities, and ranks them from the cheapest to the most expensive.

Study Methodology

Our study examined renters insurance quotes for a 1,000-square-foot residence with at least $25,000 in personal property coverage and $100,000 in liability coverage. We then collected quotes for that sample residence from five of the major carriers that offer a renters insurance product in the state of Virginia. We averaged rates for the sample home in each city as a benchmark to show which cities are relatively cheaper or more expensive. Those comparative values are not indicative of what tenants can expect to pay for an annual renters insurance premium.

Rank

CityAverage Annula Rate% Difference vs State Average

1

Alexandria$290-7.0%

65

Amelia Court House3254.1%

9

Arlington298-4.5%

28

Bedford305-2.3%

27

Big Stone Gap304-2.5%

42

Bristol309-0.8%

48

Burke310-0.7%

47

Centreville310-0.7%

52

Charlottesville3120.1%

5

Christiansburg292-6.3%

34

Clintwood307-1.6%

53

Culpeper3140.5%

31

Danville306-1.9%

29

Drakes Branch305-2.2%

11

Fairfax299-4.0%

6

Falls Church295-5.6%

62

Farmville3233.7%

61

Fincastle3233.4%

50

Floyd311-0.4%

64

Franklin3243.8%

69

Fredericksburg3305.8%

77

Galax37219.1%

55

Gate City3161.1%

67

Goochland3295.3%

20

Great Falls302-3.3%

60

Hanover3212.8%

40

Harrisonburg309-0.9%

22

Herndon302-3.2%

4

Hillsville292-6.5%

58

Hopewell3181.9%

13

Hot Springs300-3.8%

63

Keysville3243.7%

39

Kilmarnock309-1.0%

43

King George309-0.8%

2

Leesburg291-6.9%

26

Lexington304-2.6%

33

Louisa307-1.6%

49

Lynchburg311-0.5%

38

Madison309-1.1%

12

Manassas300-3.9%

32

Marion306-1.8%

14

Martinsville300-3.7%

10

McLean298-4.5%

59

Midlothian3192.1%

46

New Castle310-0.7%

73

Norfolk34811.4%

37

Norton308-1.3%

35

Orange307-1.5%

36

Palmyra307-1.4%

57

Petersburg3161.3%

30

Pulaski306-2.0%

3

Radford292-6.5%

19

Reston302-3.3%

41

Richlands309-0.9%

72

Richmond3347.0%

17

Roanoke302-3.3%

23

Salem302-3.2%

71

Smithfield3336.7%

75

South Boston37018.4%

51

South Hill311-0.2%

18

Springfield302-3.3%

66

Stanardsville3264.5%

24

Staunton302-3.1%

54

Stuart3140.7%

68

Suffolk3305.8%

44

Urbanna310-0.8%

7

Vienna296-5.1%

21

Vinton302-3.2%

70

Virginia Beach3336.7%

16

Warrenton301-3.6%

56

Washington3161.1%

15

Waynesboro301-3.7%

25

Williamsburg303-2.8%

76

Winchester7018.6%
45Woodbridge310-0.8%

8

Wytheville297-4.8%

*The Average Annual Rate has been rounded to the nearest whole dollar amount.

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