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Condo insurance isn’t required by law in Virginia, but your mortgage company likely requires it. Condo insurance is a home insurance policy that covers everything inside your condo, while the homeowners association’s insurance covers the outside of your building and common areas.

Depending on your HOA’s rules, your condo insurance may cover not only personal property, but also provides dwelling coverage known as building property coverage, for the interior of the structure. Make sure you know how much condo insurance you need before you buy condo insurance.

To find the best condo insurance in Virginia, we’ve gathered data on the top companies. Below you’ll find a list of the best condo insurance companies in Virginia with average annual rates.

Key takeaways

  • The residents of Virginia pay an average of $525 per year for condo insurance for a coverage level of $60,000 for personal property, $300,000 for liability protection with a $1,000 deductible.
  • Based on the analysis by Insurance.com, American Family is the top pick for the best condo insurance company in Virginia.
  • Universal Insurance Holding offers the cheapest condo insurance in Virginia at an average of $299 per year.

Best condo insurance companies in Virginia

In Virginia, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, J.D Power score and customer satisfaction ratings of major insurers in Virginia. Below are the best condo insurance companies in Virginia based on Insurance.com’s analysis.

CompanyJ.D. Power ScoreAM Best RatingAverage rating (out of 5)
American Family842A
4.4
State Farm829A++
4.3
Erie Insurance827A+
3.9
Allstate815A+
3.9
Nationwide816A+
3.3
Progressive801A+
3.3
Travelers794A++
2.6
Farmers792A
2.6

Average cost of condo insurance in Virginia

The average cost of condo insurance in Virginia is $525 a year or $44 a month with $1,000 as deductible, $60,000 in personal property coverage, and liability coverage of $300,000. Your average annual premium will vary depending on your location, the coverage limits you select, and the deductible amount among other factors.

To find the most affordable policy for your situation, compare quotes from multiple providers based on the coverage you need.

Average Annual PremiumAverage Monthly Premium
$525$44

CONDO INSURANCE CALCULATOR

Average condo insurance rates in VIRGINIA

$60,000
$1,000
$100,000
22101 - McLean
Personal Property Coverage $60,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $616

HIGHEST RATE: $3,316 LOWEST RATE: $187

Most & least expensive zip codes for condo insurance in Virginia

Most Expensive

Zip CodeCityHighest Rate
23651Fort Monroe$993
23457Virginia Beach$981
23324Chesapeake$967
23664Hampton$957

Least Expensive

Zip CodeCityLowest Rate
24476Spottswood$532
24435Fairfield$536
24416Buena Vista$538
24472Raphine$538

Condo insurance rates by company in Virginia

Rates for condo insurance by company in Virginia vary. It’s important to shop around and compare quotes to find the best price. 

In the table given below, you’ll see condo insurance rates for major companies in Virginia. The cheapest company for condo insurance in Virginia is Universal Insurance Holding. American Family, and Allstate, are the second and third cheapest options.

CompanyAverage Annual Rate
Universal Insurance Holding$299
American Family$327
Allstate$379
IAT Insurance Group$388
State Farm$508
Erie Insurance$519
Progressive$524
Farmers$610
Nationwide$714
Travelers$983

Compare condo insurance rates by city in Virginia

Condo insurance rates vary significantly across cities, influenced by various factors, including weather patterns, crime rates, and property values. You must consider these factors and compare quotes from different insurers to get the best deal on condo insurance for your specific city in Virginia.

CityAnnual insurance premium
Fort Belvoir
$393
Fredericksburg
$397
Hampton
$645
Norfolk
$584
Purcellville
$395
Reston
$406
Richmond
$446
Roanoke
$384
Virginia Beach
$616
Washington
$395

Insurance.com compared condo insurance rates provided by Quadrant Data Solutions in 2022 for $60,000 of personal property coverage with a $1,000 deductible and $300,000 of liability coverage for all available ZIP codes and with a good credit score. The content was updated in 2023.

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