Best homeowners insurance companies in Virginia: Erie Insurance

The best home insurance company in Virginia for 2024 is Erie Insurance. State Farm, American Family, Nationwide, and Farmers are among other top home insurance companies in Virginia based on price, NAIC complaints, and AM Best financial ratings.

The total Insurance.com score is calculated out of five using these factors.

Best home insurance in Virginia
CompanyAM BestNAIC complaint ratioInsurance.com scoreAverage annual rate
Erie InsuranceA+0.524.70$1,706
State FarmA++0.834.35$1,451
American FamilyA0.803.98$871
NationwideA+1.053.83$1,732
FarmersA0.673.81$3,186
AllstateA+1.463.62$1,857
ProgressiveA+2.713.04$1,363
TravelersA++1.102.89$5,116

Cheapest home insurance companies in Virginia: American Family

Below are Virginia home insurance rates by company for five different levels of dwelling coverage, each with $300,000 in liability and a $1,000 deductible. Based on our analysis, you’ll see American Family has the most affordable rates in all coverage levels except for $600,000 and $1,000,000 dwelling coverage.

Cheapest home insurance in Virginia
Company$200,000$300,000$400,000$600,000$1,000,000
American Family$674$871$1,213$2,300$4,681
Virginia Farm Bureau$819$1,080$1,315$1,929$3,298
Progressive$1,070$1,363$1,687$2,365$3,776
State Farm$1,150$1,451$1,749$2,385$3,534
Erie Insurance$1,227$1,706$2,220$3,124$5,203
Nationwide$1,221$1,732$2,031$2,934$4,842
Allstate$1,611$1,857$2,181$2,974$4,705
Farmers$2,142$3,186$4,434$7,046$12,004
Travelers$4,398$5,116$6,284$9,092$15,303

How much is homeowners insurance in Virginia?

The average cost of homeowners insurance in Virginia is $2,151 a year or $179 a month. This is based on coverage of:

  • $300,000 dwelling
  • $300,000 liability
  • $1,000 deductible.
  • 2% Hurricane deductible

However, the average annual premium varies by the insurance company, your ZIP code, coverage type, and your home's age, among other factors. It’s a good idea to compare price quotes from different Virginia homeowners insurance companies to get the best deal. 

Virginia home insurance rates by ZIP code

Home insurance rates can vary widely depending on where the home is located. We compared home insurance rates by ZIP code in Virginia to see which areas are the most and least expensive.

Enter your ZIP code and desired coverage level in the search box to see the average home insurance rate for that area. You will also see the highest and lowest premiums from major home insurers. This will give you an idea of how much you can save by comparing home insurance rates. The difference between the highest rate and the lowest rate is how much you could save by shopping around.

Home insurance calculator

Average home insurance rates in Florida
$200,000
$200,000 $300,000 $400,000 $600,000 $1,000,000
$100,000
$100,000 $300,000
Standard ($1000)
Standard ($1000) Hurricane (2% of insured value)

Most & least expensive ZIP codes for homeowners insurance in Florida

Most expensive

ZIP CodeCityHighest Rate
33012Hialeah$3,816
33016Hialeah$3,813
33018Hialeah$3,797
33013Hialeah$3,788

Least expensive

ZIP CodeCityLowest Rate
34609Spring Hill$1,110
34613Brookridge$1,114
34604Brooksville$1,116
34601Brooksville$1,132
Data refreshed as of Apr 2024
Read our full methodology

The most expensive ZIP codes in Virginia for home insurance 

Virginia homeowners insurance rates are the most expensive for ZIP code 23356, with an average annual cost of $3,309.

The most expensive ZIP codes in Virginia are:

ZIP codeAverage annual rate
23356$3,309
23337$3,280
23454$3,277
23354$3,232
23417$3,229
23303$3,214

The least expensive ZIP codes in Virginia for home insurance

The cheapest ZIP codes for home insurance in Virginia are:

ZIP codeAverage annual rate
22301$1,673
22201$1,705
22044$1,707
22207$1,707
22203$1,709
22332$1,716

Compare homeowners insurance rates by city in Virginia

Home 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 home insurance for your specific city in Virginia.

CityAnnual insurance premium
Alexandria
$1,210
Chesapeake
$1,962
Fishersville
$1,266
Galax
$1,441
Hampton
$2,025
Harrisonburg
$1,244
Lynchburg
$1,390
Newport News
$1,771
Norfolk
$2,014
Portsmouth
$1,946
Richmond
$1,480
Roanoke
$1,295
Suffolk
$1,921
Virginia Beach
$2,257
Williamsburg
$1,499
Winchester
$1,335

Basics of homeowners insurance in Virginia

Unlike car insurance, there is no law requiring you to have home insurance or defining how much coverage you need. But similar to car insurance, homeowners insurance rates vary significantly among insurance companies because each carrier uses its own formula to set rates. How much you pay for Virginia home insurance depends on the value and materials of your home and belongings, as well as the number and cost of insurance claims in your area. So, like auto insurance, the best way to find cheap home insurance in Virginia is to compare rates from at least three insurance companies.

To help you shop for coverage, here’s a look at the basic components of home insurance, and how much to get to make sure you’re not underinsured.

What does home insurance cover

Insurance.com commissioned 2023 home insurance rates from Quadrant Data Services fielded across all Virginia ZIP codes. Rates were fielded at multiple coverage levels with a deductible of $1,000.

Home insurance FAQs

Is damage from wind and hail covered by home insurance in Virginia?

Wind and hail damage are typically covered by standard home insurance policies. However, some insurance companies may include a separate deductible for hurricane damage. Also, some home insurance policies do not cover cosmetic damage from hail.

Is flood damage covered by homeowners insurance in Virginia?

No. You need to buy a separate flood insurance policy from a private company or through the federal National Flood Insurance Program (NFIP). There is typically a 30-day waiting period for a new flood insurance policy to take effect, so you can’t wait until a hurricane is about to hit and expect to buy a policy that will protect you immediately.

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