Best Homeowners Insurance Companies In Virginia For 2024

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.

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.

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.

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.

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.