Best & Cheapest Homeowners Insurance in Virginia Beach, VA April, 2024

Virginia Beach homeowners can find the most affordable home insurance option with State Farm, offering an average yearly quote of $1,274.

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Updated: 14 April 2024
Written by
Bob Phillips
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After conducting a comprehensive evaluation of home insurance providers in Virginia Beach, Virginia, we found that State Farm offers the most affordable option, with an average yearly rate of $1,274. However, it’s important to note that the best insurer can vary based on your specific circumstances and requirements.

For instance, if you own a newly constructed home, State Farm remains the most cost-effective choice at $954 per year. Conversely, if you have an older home, Progressive stands out with competitive rates of $1,699 annually and comprehensive coverage.

On the other hand, if your credit score has been negatively affected, Chubb provides the most economical option with an average annual premium of $2,043. For individuals with a history of claims, Auto-Owners offers an affordable and accommodating choice at $2,285 annually.

Furthermore, if you possess valuable personal belongings that require protection, State Farm once again emerges as the top choice, offering extensive coverage at a reasonable rate of $1,310 per year.

Our thorough assessment at Insuranceopedia is designed to help you find the perfect fit for your home insurance needs. Through customer ratings, personal experiences, and comparison charts, we aim to provide all the necessary information for you to make a well-informed decision.

How much is homeowners insurance in Virginia Beach, VA?

In Virginia Beach, Virginia, State Farm offers the most budget-friendly homeowners insurance rate at $1,274 annually.

As demonstrated below, insurance rates in Virginia Beach are higher than both the national average and the average rate for the state of Virginia.

Area Average Monthly Rate
National $1,820
Virginia $2,062
Virginia Beach $2,247

It’s crucial to recognize that insurance rates are not fixed and can vary significantly based on several factors.

For instance, your individual driving history is a key factor; having a history of traffic violations or accidents generally leads to higher premiums compared to maintaining a clean record. The type and model of your vehicle also affect costs, as high-performance or luxury cars often result in higher insurance expenses.

Moreover, your location plays a role in determining rates, with densely populated urban areas usually experiencing higher premiums due to elevated risks of theft or accidents. Additionally, personal factors like age and marital status can impact your car insurance premiums.

Cheapest Homeowners Insurance in Virginia Beach, VA

Cheapest Homeowners Insurance, Virginia Beach, 2024

Our Methodology

To identify the most affordable home insurance rates in Virginia Beach, we conducted a thorough analysis using data from various home insurance review platforms. Some of these platforms obtained rates from public filings acquired by Quadrant Information Services. We averaged these rates for our review. However, it's crucial to note that insurance rates from each company can fluctuate regularly and may differ based on your specific circumstances. Additionally, our comprehensive rating incorporates my subjective opinion, drawing from fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.

66

Quotes Analyzed

15+

Years Of Industry Experience

24

Brands Reviewed

40+

Research Hours

Cheapest Homeowners Insurance in Virginia Beach, VA

State Farm is the top choice for affordable homeowners insurance in Virginia Beach, VA, with an average annual rate of $1,274.

Company Annual Premium
State Farm $1,274
Universal $1,094
Chubb $1,958
Allstate $2,381
Auto-Owners $6,397

Your insurance policy’s cost is influenced by various factors such as your location, the value of your home, and your claims history. State Farm offers a well-rounded combination of affordability and comprehensive coverage.

Cheapest Homeowners Insurance If You Have an Older Home

Progressive provides the most affordable rates for older homes, averaging $1,669 per year.

Insurance Company Average Annual Premium
Progressive $1,699
Farmers $1,789
Chubb $1,860
Auto-Owners $2,254
Allstate $2,752

Older homes typically pose unique risks and maintenance challenges that can potentially lead to increased insurance expenses. However, Progressive offers competitive rates and comprehensive coverage specifically tailored to address the specific needs of older homes.

Cheapest Homeowners Insurance for Newly Constructed Homes

USAA offers the most affordable option for newly constructed homes, with an average annual rate of $1,648.

Insurance Company Average Annual Premium
USAA $1,648
State Farm $1,760
Allstate $2,170
Chubb $2,431
Nationwide $4,599

Newly constructed homes often require different coverage compared to older ones, and USAA excels in providing affordable policies tailored to these specific requirements.

Cheapest Homeowners Insurance If You Have Poor Credit

Chubb offers the most affordable solution for individuals with a poor credit score, with an average annual rate of $2,043.

Insurance Company Average Annual Premium
Chubb $2,043
State Farm $2,167
Nationwide $2,190
Allstate $3,778
Erie $5,429

Your credit score plays a significant role in determining your insurance rates, as insurers use it to assess risk. Chubb understands the importance of providing fair coverage to everyone, regardless of their financial history.

Cheapest Home Insurance for a History of Claims

Homeowners with a history of claims can find an affordable solution with Auto-Owners, offering an average annual rate of $2,285.

Insurance Company Average Annual Premium
Auto-Owners $2,285
Nationwide $3,167
Farmers $3,198
Allstate $3,693
Chubb $3,950

Having a history of claims can indicate higher risk for insurers, typically leading to increased premiums. However, Auto-Owners believes in providing individuals with past claims a second chance and offers reasonable rates to accommodate them.

Cheapest Home Insurance Rates for Lots of Personal Property

State Farm offers the most affordable rates for homeowners with a substantial amount of personal property, averaging $1,310 annually.

Insurance Company Average Annual Premium
State Farm $1,310
Travelers $1,784
Allstate $2,419
Chubb $2,445
Auto-Owners $7,020

As your personal property increases, your coverage needs may also rise, potentially resulting in higher premiums. However, State Farm provides comprehensive coverage at reasonable rates, ensuring that all your belongings are adequately protected.

Best Homeowners Insurance Companies in Virginia Beach, VA

Choosing the right homeowners insurance is not just important; it’s a strategic decision. Given Virginia Beach’s rich history and unique homes, finding an insurance provider that offers comprehensive coverage at competitive rates is crucial.

To make your decision-making process easier, we’ve put together a list of the top homeowners insurance companies in Virginia Beach, VA. These companies have been assessed based on criteria such as annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Check out our comparison chart below to find the ideal match for your home insurance requirements.

Company Annual Premium
1. State Farm $1,274
2. Universal $1,094
3. Chubb $1,958
4. Universal Property $1,420
5. Allstate $2,381
6. Auto-Owners $6,397
7. Travelers $1,784
8. Farmers $4,167

Average Home Insurance Rates by Zip Codes

The price of homeowners insurance in Virginia Beach, VA can vary greatly based on the zip code. Here are tables that show the rates for different zip codes in Virginia Beach, including the least expensive and most expensive zip codes for annual home insurance premiums.

ZIP Code Average Insurance Premium (Annual)
23462 $1,857
23460 $1,940
23451 $2,060
23456 $2,030
23455 $1,899
23464 $1,801

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
23455 $1,899
23462 $1,855
23460 $1,938
23452 $1,930
23464 $1,7804

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
23454 $1,998
23457 $2,040
23459 $1,978
23451 $2,060
23461 $1,987

Average Home Insurance Rates in Virginia Beach, VA by Deductible Amount

The deductible amount selected for a homeowners insurance policy has a substantial impact on premium rates in Virginia Beach, VA. Here’s how average home insurance rates vary based on different deductible amounts:

Deductible Amount Average Annual Premium
$500 $3,392
$1,000 $1,240
$1,500 $1,179
$2,000 $1,104

Average Home Insurance Rates in Virginia Beach, VA By Coverage Amount

One important factor that influences your premium is the dwelling coverage amount. This amount represents the maximum sum that your insurance company will pay to rebuild or repair your home if it is damaged or destroyed.

Below is a comparison chart showing the average annual homeowners insurance premiums for different dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$200,000 $1,417
$250,000 $1,670
$300,000 $1,958
$350,000 $2,236
$400,000 $2,496

Average Home Insurance Rates in Virginia Beach, VA by Company

Here’s a comparison of annual premiums from top insurance providers in Virginia Beach

Company Annual Premium
State Farm $2,342
Chubb $2,740
Erie $2,701
MetLife $2,778
Homesite $3,042
Allstate $3,216
Farmers $4,181
Travelers $4,840
Nationwide $5,846

How Much is Homeowners Insurance for Other Cities in Virginia ?

Here’s a comprehensive comparison chart displaying the most affordable annual premiums across different cities in Virginia .

City Annual Premium
Arlington $1,003
Norfolk $1,824
Richmond $1,254
Fairfax $1,020

Getting Online Homeowners Insurance Quotes in Virginia

Platforms like Insuranceopedia provide a convenient way to find the ideal coverage for your unique needs. With quick online quotes available from top-rated insurers, Insuranceopedia allows you to easily compare rates.

By entering your information, you can access a range of options tailored to your requirements. This enables you to confidently select a policy that provides the best value, balancing cost and comprehensive coverage effectively.

 

FAQs

Who has the cheapest home insurance in Virginia Beach, VA?

State Farm provides the most affordable home insurance option in Virginia Beach, Virginia, with an annual premium of $1,274.

What is the average cost of home insurance in Virginia Beach, VA?

On average, homeowners insurance in Virginia Beach, Virginia, typically costs around $2,247 annually.

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