Best Homeowners Insurance Companies In Virginia

State Farm offers the best homeowners insurance in Virginia.

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Updated: 11 February 2024
Written by
Bob Phillips
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Anyone who has been a Virginia homeowner for any length of time is probably well familiar with its weather. Most of the state has a Humid Subtropical Climate, with parts of it having an Oceanic Climate or Humid Continental. Virginia is frequently impacted by all sorts of extreme weather such as cyclones, hurricanes, tornadoes, flooding, along with ice and snow storms in the winter.

Anyone shopping around for home insurance that is both reasonably priced and adequate for their individualized needs might find the information we have put together helpful in making a buying decision.

Through my own experience, as well as research, I’ve learned that State Farm is the best as far as homeowners insurance companies in Virginia. Read on to find out why I’ve formed that opinion.

Best Home Insurance Companies In Virginia, 2024

Best Home Insurance, Virginia 2024

Compare The Best Home Insurance Companies In Virginia

Overall Rating Best For A.M Best Rating J.D Power Rating Online Experience Get A Quote
State Farm
4.9

Best Overall

A++

896

9/10

Instant Quote
Allstate
4.7

Discounts

A++

816

9/10

Instant Quote
Chubb
4.8

Cheap Rates

A+

809

7/10

Instant Quote
Farmers
4.4

Policy Perks

A

792

9/10

Instant Quote
Nationwide
4.6

Coverage Options

A+

815

8/10

Instant Quote
Scroll to see comparisons

Our Methodology

Our selections, when we're researching home insurance companies and trying to decide which are the best, are founded on information from such impartial companies as J.D. Power and AM Best, plus customer ratings and reviews, as well as other data. How well a carrier performs in the area of customer satisfaction is supplied by J.D. Power. AM Best is our source of information about how strong and stable a company is financially. What policyholders have to say about an insurance company is another way we gauge its reliability.

51

Quotes Analyzed

17

Brands Reviewed

15+

Years Of Experience

30+

Research Hours

The Best Homeowners Insurance Companies In Virginia


Best Overall

Overall Rating
4.9

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
10/10 Coverage Level

Why We Like Them

State Farm came out on top overall for homeowners insurance coverage in the state of Virginia. Its financially strong and stable condition was evaluated with the top rating A++ from AM Best.  According to J.D. Power, State Farm earns an excellent rating 829 out of 1000 in policyholder satisfaction, due to its numerous positive reviews left online. With a multitude of local offices, agents, and claim representatives in Virginia, you can rely on State Farm for fast, convenient service when you need it.

State Farm has plenty to recommend it to anyone looking for homeowners insurance. It offers insurance coverage that isn’t usually available from other insurers, even in its basic policy.  For instance, State Farm offers you protection from ID theft and credit card fraud. If you belong to an HOA with strict codes and must repair or rebuild your home due to a covered loss, State Farm provides legal assistance and the cost of materials necessary to get you in  compliance. These are just a few examples of the coverage you’ll receive from State Farm.

When you choose to purchase State Farm as your home insurance company, it’s quick and very easy to go online and start the process. While you can learn a lot about the company online, you will have to meet with a State Farm agent to purchase a policy. Once you’re a policyholder you have access to your account online through the app or company website. The tools you’ll find online make it fast and convenient to pay your premium, enroll in auto-pay and paperless billing, or file a claim. The website has a great online resource library, too, with a wealth of information about insurance.

Benefits & Drawbacks

Benefits
  • The highest rating from AM Best for financial strength
  • Multiple coverage options
  • Many local agents and offices in Virginia
Drawbacks
  • You can't purchase State Farm insurance via an independent agent

Best For Policy Perks

Overall Rating
4.4

Key Statistics

9/10 Affordability
6/10 Customer Reviews
7/10 Claims
9/10 Coverage Level

Why We Like Them

Farmers homeowners insurance receives high ratings from policyholders for its policy perks, along with positive ratings about its online experience. The many good ratings and reviews on online experience are probably at least partially based on the company’s user-friendly explanation of the perks they offer and how those perks are helpful to customers. If you’re in the market for homeowners coverage, the perks offered by a company could influence which insurer you choose. Some policy perks offered by Farmers include:

  • Claim Forgiveness: No claims filed for a period of at least 5 years means that your rates won’t go up if you have a claim
  • Discount if Claim Free: 3 years or more being claim-free, and you receive a discount
  • Deductible Declines: Each year that your policy is current you receive $50 off your deductible
  • Replacement Cost Guaranteed: Farmers will pay the entire cost of rebuilding or repairing your home and property due to covered loss, regardless of cost
  • Multi Line Policies: If you have your insurance for multiple lines with Farmers, like auto and home, you receive as much as 34% off your premium

Farmers get a high rating of 9.3/10  from J.D. Power. No doubt its rating isn’t higher because of its above average number of low marks from dissatisfied customers.

Benefits & Drawbacks

Benefits
  • More than 12 discounts available
  • Many local offices and agents in Virginia
  • You get guaranteed replacement cost in all of its policies
Drawbacks
  • Lower than national industry average in customer satisfaction ratings

Best Coverage Options

Overall Rating
4.6

Key Statistics

8/10 Affordability
6/10 Customer Reviews
9/10 Claims
9/10 Coverage Level

Why We Like Them

Nationwide scores a high A+ rating from J.D. Power because of its financial strength and stability. Policyholder satisfaction ratings aren’t the cream of the crop, but they’re not bad, either. Overall, Nationwide has an excellent reputation within the insurance industry. Numerous offices and agents locally spells great service and convenience for customers.

This carrier offers multiple options that aren’t common in homeowners insurance.  A couple of them are the reimbursement for Identity Theft and credit card fraud, both of which could hit your hard in the pocketbook without protection. If you live within the confines of a strict and uncompromising HOA and must repair or rebuild your property due to a covered loss, Nationwide will provide legal help if you need it in order to be in compliance. It provides coverage for   construction costs, as well.

Nationwide’s Better Roof Replacement option provides you with additional coverage if you must purchase new roofing materials to replace or repair your roof due to damage caused by a covered loss such as a tornado or winter storm.

Brand New Belongings is another option available from Nationwide. This option will reimburse you for the loss or damage of your personal belongings, less depreciation. You simply purchase the replacements, send Nationwide your receipts, and are reimbursed minus the difference between what you paid for replacements and the depreciation.

Benefits & Drawbacks

Benefits
  • Lots of coverage options
  • Excellent rating from AM Best because of its strong, stable financial status
  • Many claims adjusters, offices and agents throughout the state
Drawbacks
  • Short term rentals, like Airbnb, aren't covered
  • Many negative reviews online from policyholders

Best For Cheapest Coverage

Overall Rating
4.8

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
8/10 Coverage Level

Why We Like Them

Chubb home insurance has the best homeowners insurance for the more expensive homes in Virginia. Its average cost of $1,365.00 annually is higher than the average state wide premium of $792.00 a year, probably because it’s geared for high end properties.

Virginia home owners seem pleased with the special features Chubb offers them. Features like individualized claims, high tech property inspections, services of a property manager for a second home, and more. In addition, Chubb has some attractive add-ons, such as options available besides its basic home insurance. Such things as coverage for water backup, replacement of home and personal belongings, coverage for breakdown of equipment, and more. You’ll also receive additional coverage for the extended replacement cost of your home and property, even if there is depreciation in value since it was purchased.

Benefits & Drawbacks

Benefits
  • A broad range of options for policyholders
  • Some of the most affordable rates in Virginia
  • High-end homes have special coverage options available
Drawbacks
  • No scheduled personal property
  • No online quotes available

Best For Discounts

Overall Rating
4.7

Key Statistics

8/10 Affordability
7/10 Customer Reviews
8/10 Claims
8/10 Coverage Level

Why We Like Them

There are an average of seven home insurance discounts nationwide, while Allstate offers eleven. This is considerably more, and very important since premium discounts can save money on your insurance costs. Allstate is overall an excellent homeowners insurance carrier with a lot going for it. Many home insurance analysts, myself for one, feel the same.

Allstate’s discounts include:

  • Claims Forgiveness: Optional coverage to make sure that your rates don’t go up after you have a claim
  • New Home Buyer: Get a discount if you purchase a new home
  • Automatic Payment: Enroll in auto pay with your payments automatically debited from your checking account, and get a 5% discount
  • Responsible Payment: Pay on time with a good payment history and receive a discount
  • Loyalty: Receive a 10% discount when you renew your policy
  • Claims Free: A year of being claim free and you’ll receive a discount of 5% upon renewal
  • Protective Device: You receive a discount for the installation of fire and theft protective devices
  • Early Payment: Receive a ten percent discount when you take out a new policy within one week of renewing your existing policy
  • Deductible Reward: $100 is shaved off your deductible amount when you purchase a policy
  • New Home: A recently built home could earn you a discount
  • Bundle: Bundle your insurance policies with more than one type, such as auto and home for instance, and get a discount up to 25%

Allstate has almost double the national average number of discounts, with a total of eleven available. Other than the more usual options such as Identity Theft and credit card fraud, Allstate has other discounts available for its policyholders. For example, being covered from repair or total loss of yard and garden things like riding mowers and landscaping.

Benefits & Drawbacks

Benefits
  • Financially strong and stable
  • 11 discounts in comparison to the US industry average of 7
  • Numerous local agents and offices in Virginia
Drawbacks
  • More than average number of customer complaints online

How To Find The Best Home Insurance Company For You

I won’t say that finding just the right home insurance for your personalized needs will be an easy thing to do, but since nowadays we can do any sort of research online, I will say it’s a lot easier than it used to be. You can go online and do a bit of digging, researching what you need to in order to make an informed buying decision. Yes, you should prepare yourself for putting in some time and effort, but since your home is probably the most valuable asset you own, it’s prudent to safeguard it because doing so means security of your own and your family’s financial well being.

Below are 5 steps to help you determine which home insurance is best for you:

  1. First, learn and familiarize yourself with home insurance companies in Virginia. You can accomplish this online, streamlining this step. Narrow the field down to three contenders that seem like a good fit for you
  2. Determine the amount of coverage you require. You might want to get assistance from an agent for this
  3. Next, get premium quotes from the three insurers
  4. Take into account the financial stability and strength of each company along with its rates, coverage amounts, reviews and ratings from customers
  5. Now you are ready to apply for insurance coverage with your first choice for home insurance

Most companies will allow you to get a quote online, but not all. A few home insurance companies stipulate that you meet with an agent for a quote.

Average Cost Of Home Insurance In Virginia

 Cheapest Home Insurance In Virginia

Insurer Annual Rate
State Farm $1,335
Nationwide $1,430
Chubb $1,240
Allstate $1,718
Farmers $1,550
Virginia Average Rate $1,582
USAA $1,850
Travelers $5,607

Cheapest Cities For Homeowners Insurance In Virginia

City Annual Rate
Dulles $1,018
Merrifield $1,029
Belmont $990
Lansdown $1,010
Fairfax $1,016

Most Expensive Cities For Homeowners Insurance In Virginia

City Highest Rate
Hampton $1,678
Virginia Beach $2,190
Chesapeake $1,850
Norfolk $1,820

Home Insurance Premiums By Deductible In Virginia

Deductible Average Annual Rate
$500 $1,106
$1,000 $915
$1,500 $861
$2,000 $802
$5,000 $677

Home Insurance Prices By Coverage Level In Virginia

Coverage Level Average Annual Rate
$100,000 Dwelling $630
$200,000 Dwelling $964
$250,000 Dwelling $1,177
$400,000 Dwelling $1,624

Factors That Impact Cost Of Your Home Insurance Policy In Virginia

Several things come into play that have a bearing on the cost of your home insurance coverage in Virginia, including:

  • Deductibles and amount of coverage—In a nutshell, this is how it works: The lower your deductible, the higher your premium. Choose a lower deductible, and prepare to pay a higher premium for your home insurance policy. The value of your home and property also plays an important part in how much your coverage will cost. Naturally, if you have a high end home instead of a modest dwelling; your homeowners insurance is going to cost more simply because the insurance company will be out a lot more money if they have to replace it
  • Your claim history – If you have filed property insurance claims in the past, you will almost definitely be required to pay a higher premium
  • The zip code of your home – Any home that lies inside a geographic area that is likely to experience extreme weather like cyclones, hurricanes, ice and snow, flooding, or other severe weather events, will incur higher costs to insure
  • Close to flood zones – If your home is close to a body of water, like along the Atlantic coast that borders Virginia, your chances of filing a claim for cyclones, hurricanes and flooding are much higher than people who live inland, making your insurance cost more
  • The age of the home – You could pay up to 75% more if your home is thirty years old or older. This is due to the fact that more recently constructed homes have stricter building codes, making it more expensive to be in compliance with current building codes.

How To Get A Home Insurance Quote Online In Virginia

If you want to get a home insurance quote online in Virginia, you’ll probably find it fast and easy to do so. Check out the insurers websites and review sites as well such as AM Best and J.D. Power, then discard all except three companies to three companies that seem the best for your needs. Now you can make an application for coverage to your chosen company. Just follow these three simple steps as shown below:

  1. Respond to every one of the questions on the Insuranceopedia form. These will be about your home, its value and contents, age, square footage, and all other questions
  2. Once you have answered all of the questions, submit the  form to get  your quote or quotes
  3. After obtaining quotes, and determining which company seems best, submit an application to that company

If a company doesn’t allow quotes online, you’ll need to meet with an agent.

Home Insurance Discounts In Virginia

One question you should always ask an insurance agent is whether or not the company they represent offers discounts. This is important since discounts can save you a tidy sum of money over time. Most companies allow policyholders to take advantage of multiple discounts. Here are discounts you might receive:

  • Claims Free: If it has been twelve months or longer since you had a claim, you might be eligible for a 25% discount
  • Bundle: Putting all of your eggs in one basket by carrying more than one kind of insurance with a company, such as insuring your auto and home with the same insurer, might get you as much as a 25% discount
  • Automatic Payment: If you enroll in auto-pay and have your premiums deducted automatically from your bank account, you may receive a discount
  • Responsible Payment: Be sure to pay your premiums in a timely manner because a good payment history may mean a discount
  • New Home: Building a new home could get you a discount on insuring it
  • Early Payment: You could receive a discount if you take out a new policy a week or less before the old one expires

The Most Affordable Areas For Homeowners Insurance In Virginia

Homeowners insurance in Virginia varies by ZIP code. It may range from a low of $925.00 in Ashburn, zip code 20148, to as much as $1,635.00 in Portsmouth, zip code 23709. The lowest rates according to zip codes are:

ZIP Code City Lowest Rate
20148 Ashburn $999
22426 Arlington $1,006
22042 Falls Church $1,010
20110 Manassas $1,072

FAQs

Is home insurance more expensive in Virginia?

Not at all. The average yearly rate for homeowners insurance in Virginia is $1,582, which is considerably lower than a lot of other states.

How much per month is a million-dollar home insurance policy in Virginia?

Your premium rate for home insurance in Virginia is determined by several factors. How much your home is worth, as well as where it’s located, your deductible, and your insurer, among  other things. Two of the least costly homeowner rates in Virginia are State Farm and Chubb, with annual premiums of $1,335 for State Farm and $1,240 for Chubb.

What is the average monthly cost of home insurance in Virginia?

Home insurance rates are figured on things like your home’s worth, the worth of your personal belongings, where your home is located, how much of a deductible you have, your home’s age, and more. The average home in Virginia valued at $300,000 will usually cost around $96.00 a month to insure.

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