Cheapest & Best Renters Insurance In Virginia Beach 2025

Auto-Owners provides the cheapest renters insurance in Virginia Beach, with an average monthly rate of about $8. However, if you care about additional coverage, superior customer service, and bundling discounts, Amica is a better choice, though it comes at a higher cost of around $22 per month.

Neptune City – Virginia Beach experiences over 7,500 property crimes each year, impacting approximately 17 out of every 1,000 residents. Having renters insurance is a wise decision, offering protection for your belongings, financial security, and peace of mind.

Cheapest Renters Insurance Companies In Virginia Beach

If you’re looking for low-cost renters insurance in Virginia Beach, Auto-Owners provides the most affordable option, with rates averaging around $8 per month. To help you compare, the table below highlights the five cheapest providers.

Best Renters Insurance Companies In Virginia Beach

Auto-Owners is a reliable option for renters in Virginia Beach seeking affordable insurance. However, the cheapest choice might not always provide the best coverage or customer service. In my view, Amica stands out as the top provider in the area. It offers exceptional service, a range of additional coverage options, including flood add-ons, and the chance to save on premiums through some of the best bundling discounts available.

Average Cost Of Renters Insurance In Virginia Beach

In Virginia Beach, renters insurance usually costs about $21 per month or $252 per year. However, your actual rate may differ based on factors such as coverage limits, location, deductible, and the insurer’s pricing structure. To help you compare, the table below lists average rates from five top providers in the city.

Average Cost By Deductible

A deductible is the amount you pay out of pocket before your renters insurance kicks in to cover a claim. Choosing a higher deductible can lower your monthly premium, while a lower deductible typically means higher monthly costs. The table below illustrates how renters insurance rates in Virginia Beach change based on different deductible options.

Factors That Impact Renters Insurance Costs In Virginia Beach

Several factors affect the cost of renters insurance in Virginia Beach:

Home Safety Features: Installing security systems, smoke detectors, or sprinkler systems can reduce risks and may help you qualify for discounts.

Claim History: If you’ve filed multiple claims in the past, insurers may consider you a higher risk, leading to increased premiums.

Coverage Limits: Choosing higher coverage amounts or adding protections like replacement cost coverage or identity theft protection can raise your premium.

Location: Living in areas with high crime rates or increased risks from natural disasters, such as hurricanes, can drive up insurance costs.

Credit Score: Insurance providers often factor in your credit score—lower scores generally result in higher premiums.

Deductible Amount: A higher deductible can lower your monthly premium, while a lower deductible increases costs since the insurer takes on more risk.

What Does Renters Insurance Cover In Virginia Beach?

Renters insurance provides crucial financial protection by covering a range of risks. Most policies include the following key coverages:

Personal Property Protection

Covers your belongings, such as furniture, electronics, and clothing, against risks like theft, fire, and certain types of water damage (excluding floods).

Liability Coverage

Pays for legal fees and medical expenses if you’re responsible for injuring someone or damaging their property.

Medical Payments to Others

Offers limited coverage, usually between $1,000 and $2,000, to help with medical expenses if a guest is injured in your rental, regardless of who is at fault.

Additional Living Expenses (ALE)

Helps cover temporary housing, meals, and other essential costs if your rental becomes uninhabitable due to a covered event.

What Does Renters Insurance Not Cover In Virginia Beach?

Renters insurance offers valuable protection, but there are certain exclusions to be aware of:

Flood Damage

Standard policies don’t cover flood-related losses. If you live in a flood-prone area like Virginia Beach, you’ll need separate flood insurance.

Business-Related Losses

If you run a business from your rental, your policy won’t cover business equipment or liability claims. Additional coverage is needed for work-related assets.

High-Value Items Beyond Coverage Limits

Standard policies may not fully cover expensive items like jewelry, artwork, or collectibles. You may need a policy rider for extra protection.

Roommate Belongings

Your policy only covers your personal items. If your roommate’s belongings are stolen or damaged, they’ll need their own renters insurance.

Theft or Damage to Vehicles

Renters insurance doesn’t cover vehicle theft or damage. You’ll need auto insurance for that.

Intentional Damage

If you or someone in your household deliberately causes damage, renters insurance won’t cover repair costs.

Pest Infestations

Damage or extermination costs related to bedbugs, rodents, or termites aren’t covered, as they’re considered maintenance issues.

Earthquake Damage

Standard renters insurance doesn’t include earthquake protection, but you can purchase an affordable add-on for coverage.

How Much Should Students Pay For Renters Insurance In Virginia Beach?

Students in Virginia Beach can expect to pay between $10 and $23 per month for renters insurance, depending on their coverage needs. Several factors impact the cost, including location, the value of personal belongings, and optional policy add-ons.

Off-campus renters may face higher premiums due to larger living spaces and increased risk exposure, while students in dorms typically pay less since shared housing is generally cheaper to insure.

Before choosing a policy, it’s essential to assess the value of your belongings. Standard renters insurance covers most personal items, but students with high-value electronics or other expensive possessions may need additional coverage. Many insurers also provide discounts for bundling renters and auto insurance, helping students reduce overall costs.

How Much Renters Insurance Do I Need In Virginia Beach?

Selecting the right renters insurance in Virginia Beach begins with evaluating the value of your belongings. Most policies offer coverage between $20,000 and $40,000, which is sufficient for many renters. However, if you own expensive furniture, high-end electronics, or valuable jewelry, you may need extra protection.

Liability coverage is another key factor. Standard policies typically include $100,000 in liability protection, which can help cover legal or medical expenses if someone is injured in your rental. Increasing this limit can provide added financial security.

Your deductible also affects your overall costs. Choosing a higher deductible reduces your monthly premium but increases the amount you’ll need to pay out of pocket before your coverage applies.

Lastly, consider Additional Living Expenses (ALE) coverage, which helps pay for temporary housing and essential expenses if your rental becomes uninhabitable due to a covered event.

Can Landlords In Virginia Require Renters Insurance?

Renters insurance isn’t legally required in Virginia, but many landlords make it a lease requirement. This benefits both tenants and landlords—tenants get coverage for their belongings, while landlords reduce their liability risks.

If your lease mandates renters insurance, you may need to provide proof, such as a certificate of insurance or a policy declaration page. Some landlords also set a minimum coverage requirement, often at least $100,000 in liability protection. Failing to meet these terms could lead to penalties or even lease termination.

Even if it’s not required, having renters insurance is a smart choice, especially in Virginia Beach, where hurricanes, storms, and floods pose significant risks. A policy not only safeguards your belongings but also provides financial security against liability claims.

Bundle Renters With Auto Insurance

Bundling renters and auto insurance is an effective way to save money, as many insurers offer discounts for combining policies. In Virginia Beach, this can reduce renters insurance premiums by about 4% to 6% while also fostering customer loyalty. Amica and Erie are known for offering some of the best bundling discounts in the area.

For renters who already have auto insurance, bundling provides extra advantages. Keeping both policies with the same insurer simplifies account management, improves customer service, and may come with perks like flexible payment options or higher coverage limits.

However, it’s essential to compare providers before bundling. While it can be a cost-effective choice, ensure that both policies offer the right coverage at a competitive price.

Common Causes Of Loss In Virginia

Renters in Virginia face several risks, including theft, fire, water damage, hurricanes, and floods. Understanding these threats helps tenants choose the right insurance policy to protect their belongings and finances.

Theft

With over 7,500 property crimes reported annually in Virginia Beach and more than 146,000 across Virginia, renters insurance is essential. It covers stolen belongings and may include liability protection if a visitor is injured. However, it doesn’t cover vehicle damage or rental unit repairs.

Flooding

Virginia’s coastal location makes it vulnerable to floods, which are not covered by standard renters insurance. Tenants must purchase separate flood insurance for full protection. Amica offers some of the most affordable flood add-ons in Virginia Beach.

Hurricanes and Storms

Virginia frequently experiences hurricanes and severe storms. Renters insurance typically includes storm-related damage coverage, helping tenants recover from extreme weather events.

Fire

Fires can spread quickly in apartment buildings, leading to major losses. Renters insurance helps cover the cost of replacing damaged belongings, easing financial strain.

Water Damage

Plumbing leaks, burst pipes, and roof issues can cause costly damage. While standard renters insurance generally covers internal water damage, it does not protect against flooding, making separate flood insurance necessary.

Additional Covered Losses

Many policies also provide coverage for vandalism, accidental damage, and certain natural disasters, offering renters extra financial security.

By recognizing these risks, renters can select the best insurance coverage to safeguard their belongings and maintain financial stability.