Best & Cheapest Homeowners Insurance in Virginia Beach, VA May, 2024
Virginia Beach homeowners can find the most affordable home insurance option with State Farm, offering an average yearly quote of $1,274.
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.
| 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.
Cheapest Homeowners Insurance in Virginia Beach, VA
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.
Quotes Analyzed
Years Of Industry Experience
Brands Reviewed
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
| Insurance Company | Average Annual Premium |
| Auto-Owners | $2,285 |
| Nationwide | $3,167 |
| Farmers | $3,198 |
| Allstate | $3,693 |
| Chubb | $3,950 |
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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