Best and cheapest renters insurance in Virginia

Best renters insurance companies in Virginia

When choosing the best renters insurance company in Virginia, make sure you’re comparing on more than just price. We’ve compared quotes, coverage options and J.D. Power scores from all the major insurers in Virginia. Below is our list of best renters insurance companies in Virginia based on that analysis, with our score out of five. Note that USAA only offers coverage to military families.

Company	Average rating(out of 5)
Erie Insurance	4.5
State Farm	4.5
Allstate	4
American Family	4
Nationwide	4
Farmers	3.5
Progressive	3.5
Travelers	3

Compare the best renters insurance companies in Virginia

Comparing quotes from multiple insurance carriers is one way to ensure you will get your money’s worth. There can be big differences in price between different renters insurance providers, so it pays to shop around. Ensure you buy from a company offering affordable renters insurance and consistent customer service.

To simplify your task, we have compared the carriers for Virginia residents based on their average rates and ratings from J.D. Power. Among the carriers surveyed, Erie Insurance is the best renters insurance company in Virginia. It earned 881 out of 1000 from J.D. Power and has an average renters insurance rate of $204.

The table below offers a detailed comparison of renters insurance companies in Virginia.

Company	J.D. Power Score	Average Annual Premium	AM Best Ratings
Erie Insurance	881	$204	A+
State Farm	844	$145	A++
American Family	856	$181	A
Nationwide	852	$204	A+
Allstate	835	$183	A+
Farmers	842	$227	A
Progressive	804	$165	A+
Travelers	835	$426	A++

How much is renters insurance in Virginia

Virginia residents pay an average of $219 a year for renters insurance, and the average monthly cost is $18. That’s for a policy with personal property coverage of $40,000, liability coverage of $100,000, and a deductible of $1,000.

What you pay for renters insurance will not be the same as a neighbor’s price because it depends on factors specific to each person: the property you want to insure, extra coverage options you add, and the deductible amount you choose.

“The number one thing that’s most important is to get good liability. A renter’s policy will default to $100,000 liability,” Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. “It costs next to nothing to go from $100,000 to $500,000. I want to say it’s probably 10 bucks a year. It’s really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that’s, at its core, what insurance is all about: the worst-case scenario.”

Average Annual Premium	Average Monthly Premium
$219	$18

Most expensive ZIP codes in Virginia for renters insurance

Several factors affect your renters insurance coverage cost in Virginia, including your location and the coverage you buy. The most expensive ZIP code in Virginia for renters insurance is 23459, where the average annual rate is $313 which is $94 more than the state average insurance premium.

The following table lists the most expensive ZIP codes in Virginia for renters insurance.

ZIP code	Average Annual Rate
23459	$313
23405	$309
23440	$306
23664	$303
23310	$300
23651	$299
23451	$298
23457	$297
23336	$293
23413	$292

Least expensive ZIP codes in Virginia for renters insurance

Renters insurance rates in Virginia are cheaper in some areas. Based on a rate analysis by Insurance.com, the least expensive ZIP code for renters insurance in Virginia is 22820, and its average annual rate is $183.

Below, you’ll find the least expensive ZIP codes for renters insurance, along with their average annual rates.

ZIP code	Average Annual Rate
22820	$183
22812	$186
24433	$187
24468	$188
22850	$189
22831	$190
22035	$191
22947	$192
22201	$193
22152	$194

Compare renters insurance rates by city in Virginia

Renters 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 renters insurance for your specific city in Virginia.

City	Annual insurance premium
Alexandria	$196
Chesapeake	$270
Hampton	$289
Newport News	$257
Norfolk	$279
Portsmouth	$282
Richmond	$227
Roanoke	$197
Suffolk	$257
Virginia Beach	$283

Cheap renters insurance in Virginia by company

There are a lot of companies offering renters insurance in Virginia. Among the carriers surveyed by Insurance.com, State Farm is the cheapest renters insurance company in Virginia; its average annual premium is $145.

Renters insurance prices can vary drastically between companies. That’s why it is important to compare rates and see which company offers the best deal to get coverage at an affordable price.

Below are the best cheap renters insurance companies in Virginia and their average annual premiums.

Company Name	Average Annual Premium
State Farm	$145
Progressive	$165
Universal Insurance Holding	$175
American Family	$181
Allstate	$183
Erie Insurance	$204
Nationwide	$204
Farmers	$227
IAT Insurance Group	$284
Travelers	$426

Methodology

Insurance.com compared renters insurance rates in 2022 provided by Quadrant Data Solutions for $40,000 personal property coverage with a $1,000 deductible and $100,000 liability coverage for all available ZIP codes based on a renter with good credit. Content was updated in 2023.