The Best Virginia Home Insurance Quotes
Are you interested in getting adequate, long-term protection for your house in Virginia?
We can help you find the best Virginia home insurance quotes out there.
The staff at Insurance Geek will work with you to get the best possible quote for your required needs and your budget. Insurance Geek takes a personal approach to each and every homeowner, so we can lock in the cheapest home insurance rates while providing the best available protection.
Learn more about the ways a Virginia homeowners policy can help protect you and all the relevant terms you should know below!
Virginia Home Insurance: The Basics
Virginia has so much to offer the aspiring homeowner. At owner-occupied housing of 66.2%, Virginia has always been a family-based, home-based state. Colonial Virginia is one of the birthplaces of the United States, giving us Thomas Jefferson and a variety of other presidents, inventors, and historians.
Only 33.43% of households are renters, and this metric shows no signs of slowing down or changing. This is the type of place where families come to settle down and start families, and based on these statistics, you’ll find several other homeowners on every block.
The price of homeowners insurance in Virginia is similar to that of its neighboring states of West Virginia, Maryland, Kentucky, North Carolina, and Tennessee because they are at risk of being affected by similar perils (albeit Tennessee and North Carolina are usually a bit more expensive).
In the home insurance companies’ lingo, the peril is just about anything that can cause damage to your property. For those perils that are covered in your policy, you can file a claim and receive money in the case of an accident.
Some perils that may affect your insurance rates in Virginia include:
- Theft, and, of course,
- Sewer and drain back up.
Before your homeowners insurance pays out, you have to pay the deductible, i.e., the amount that you have agreed to pay out of your pocket.
Clients who want to have a lower premium go for a higher deductible and vice versa.
So, when discussing the features of your policy with the insurance agent, you’ll need to decide whether you want to pay more upfront or later when needed.
How are Insurance Premiums Determined in Virginia?
How much your home insurance costs is a multifaceted matter:
Insurance premiums depend on a great variety of things, and location is just one of them.
Your credit score;
Homeowners insurance companies in Virginia will consider your credit score when determining your insurance costs.
The reasoning behind this is that they want to observe how punctual you are with your payments and whether you are able to pay the premium and the deductible.
Hence, a positive credit score can help you score the cheapest home insurance rates.
The value of your home;
While credit score is not as important, the state and value of your home are and will greatly affect the price of insurance.
The age of your house, a well as the construction materials, are taken into account to determine its replacement cost. This term refers to the amount of money needed to completely rebuild or repair your home, and it is not the same as its market value.
For additional info on the replacement cost and the actual cash value, you can refer to our article.
Whether or not you’ve filed a claim before;
If there have been claims filed for the property you wish to purchase homeowners insurance in Virginia for, homeowners insurance companies may offer you a higher premium. This is due to the fact that there’s a higher risk that there will be the need for claims again.
Not all insurance companies are equally affordable, and they offer many kinds of home insurance coverage. It’s our job to connect you to the top insurance companies out there if you use our quote engine tool.
Auto credit and other discounts.
You may be eligible for a variety of discounts. Some include combining multiple policies with the same company (for example, auto owners insurance + homeowners insurance).
Also, you will save if you pay your policy upfront or if you have certain security systems installed (e.g., fire or anti-theft alarms).
What is the Best Option for Home Insurance in Virginia?
With a myriad of coverage options, it might seem complicated to choose the one that works best for you.
For a brief summary of the applicable insurance policy obligations, conditions, and exclusions, you can check out its declarations page. Bear in mind that such insurance product is the sole responsibility of the issuing insurance carrier, aka insurer underwriting your policy.
What we can do at Insurance Geek is find you the most suitable and affordable option for you.
That said, let us introduce the two main kinds of homeowners insurance policies: named and all peril ones.
Named policies offer protection against perils that are explicitly stated (i.e., named) in it. If you can’t see a stated peril, it means that it isn’t covered in the named policy.
Homeowners usually opt for this kind of coverage for gaps they have in their existing policy. In case you think that might apply to you, you can send us your policy, and our expert agents will have a look into it to determine whether you require a named policy.
ALL PERIL Policy
On the other hand, all peril coverage protects you against ALL perils (unless one is specifically omitted).
That’s why it basically guarantees financial stability.
If you want to sleep better at night, an ALL PERIL policy is the best option for insurance in Virginia.
Virginia is notorious for thunderstorms, tornadoes – and most of all, coastal issues, such as hurricanes. Winter storms are possible in the Blue Ridge mountains and inner corridors. Rather than losing your home or seeing it damaged during a winter storm, it may be the best idea to consider an All Peril Policy.
Get Home Insurance Quotes Today
With all the info presented above, shopping for homeowners insurance in Virginia seems a tad complicated, doesn’t it?
We’ve decided to make it easier for our customers to get a precise estimate of how much they would pay for insurance in Virginia and connect them to the cheap homeowners insurance options and the best home insurance companies.
Insurance Geek is a licensed insurance producer resident in America, and we work with more than 30 insurance companies.
Our competitive pricing tool will help you find the best Virginia homeowners insurance policy!
The only thing you need to do to compare rates from multiple insurance providers and get the cheapest homeowners insurance is to enter some basic information – your ZIP code in Virginia and full address.
We use the Fat Agent app, which simultaneously works with insurance carriers and our agents, to offer you the best homeowners insurance quotes.
We are here for you any time you need us! Use our handy quote tool to get a rate for your area of Virginia!
We can score you different discount types with our insurance carriers.
For instance, you can get lower insurance rates when you bundle up policies (e.g., auto owners or life + home insurance).
Also, if you pay your insurance premiums in full, you will receive discounts.
Insurance Geek staff will do everything we can to find a way for you to save up on your home insurance!
Top Cities & Metro Suburbs in Virginia for Homeowners
Our clients from Virginia come from all around the state, the biggest cities included:
- Virginia Beach
- Newport News
It’s good to know that the average price of home insurance is lower if you choose to relocate to the suburbs. We see a lot of beautiful, high-value homes precisely in these metro areas.
Here are the top suburbs in Virginia:
- Falls Church
- Stone Ridge
- Short Pump
- South Riding
- Franklin Farm
Who Should Get Virginia Homeowners Insurance?
It doesn’t matter if you are an existing or new homeowner – you should have insurance to help protect you from any potential damage that comes your way.
One of the most frequently asked questions we get is: Is homeowners insurance required in Virginia?
While it isn’t mandatory by the state laws, we are adamant that every homeowner needs proper homeowners insurance in Virginia.
New homeowners may be looking to obtain a policy for their high-value homes for the first time, while existing homeowners may decide to beef up on protections, switch carriers, try to get a cheaper rate, or any other number of motivations to switch.
Home insurance is the pathway to the financial stability everyone needs. You and your family will enjoy peace of mind with adequate protection.
Also, your mortgage lender will require you to have home insurance to prove that the house can be rebuilt under any circumstances.
What Does Home Insurance Coverage Include?
Home insurance coverage options are varied, and there isn’t a uniform answer to what your policy will include. However, there are some parts that are wholeheartedly recommended to everyone, and almost every home insurance policy will have them.
The structure of a policy includes the following:
Coverage A – Dwelling Coverage
Dwelling coverage (also known as dwelling amount) covers the physical structure of the home, and the dwelling coverage limits should be based on the replacement cost of your house to ensure you can completely rebuild it.
Coverage B – Separate Structures
The dwelling coverage will not cover those structures that are separated from your house. These can include mailboxes, attached garages, fences, sheds, etc., and the part of your policy that accounts for them is called separate structures coverage.
Coverage C – Personal Property Coverage
Personal property coverage protects all of your personal property items, i.e., personal belongings (think: things like clothes, furniture, and appliances that are inside the house and can get damaged, too).
If personal property policy limits aren’t enough to cover all your valuables, such as jewelry, musical instruments, or antiques, you can get additional coverage for personal property.
For instance, Nationwide has the Valuables Plus plan, Safeco has Valuable Articles Coverage, and Progressive offers separate limits for your high-value items.
Coverage D – Loss of Use
The loss of use coverage level accounts for costs incurred if you’re unable to use your home for a while, e.g., while it is being repaired due to a peril. These additional living expenses encompass a range of services, from renting a place to stay to transportation and grocery bills.
Coverage E – Personal Liability Protection
Personal liability coverage kicks in if you’re found liable for damages or a suit is brought against you due to a covered occurrence. What’s more, personal liability insurance also protects your family members! You can use this part of your insurance to cover defense costs in court, e.g., an attorney.
Coverage F – Medical Payments
Medical Payments coverage allows you to receive compensation for medical expenses if someone is injured on your property (for example, ambulance transportation, X-ray, etc.)
What Isn’t Included in Your Home Policy?
Sometimes, your home insurance won’t be enough. You can purchase add-on policies or other kinds of insurance to make sure you are covered under any circumstances.
So, here are the additional coverage options and most popular insurance products to consider:
Auto Insurance (Car Insurance)
Auto owners insurance, auto insurance, or car insurance – whichever term you prefer – is a necessity for all vehicle owners out there. It protects you and your passengers on the road, as well as your car, one of your most valuable assets.
Our carriers have excellent auto insurance options, and we can find you the cheapest quotes here.
Flood insurance is not a part of your regular home insurance. You’d have to purchase flood insurance separately through the National Flood Insurance Program.
The good news is that you can get additional protection for water damages from all our top insurance companies – Safeco, Progressive, and Nationwide – for very affordable prices.
These endorsements cover the drain and sewer water backup and sump pump failure. As confirmed by the Insurance Information Institute, water damage is one of the most common disasters, accounting for about 22% of insurance claims, so these add-ons are definitely something to have in mind.
Life insurance is also one of the wisest long-term investments you should make.
We are partnered with some of the best life insurance companies out there, and they can offer you a wide range of products. The most popular ones are term and whole life insurance policies. If you are interested to learn more about the difference between them and which policy would suit you better, check out our article on term vs. whole life insurance.
And if you wish to get the most affordable rates, please see our quote calculator tool – it will allow you to compare multiple quotes, just like with home insurance.
There are many different insurance products, and they all depend on what you need. If you need assistance, let one of the Insurance Geek agents find you the best options for you.
For instance, identity theft protection is an affordable option, as well as equipment breakdown coverage and credit card insurance. These inexpensive products can save you a lot of money in the long run, especially in today’s day and age when cybercrime and identity theft are on the rise.
Home Insurance in Virginia: FAQ
Q: How much is homeowners insurance in Virginia?
A: Home insurance in Virginia is generally affordable, at the state average of $1,051. The national average cost is around $1,215. That said, how much your home insurance costs is affected by multiple variables, including the age and materials of your home, your credit rating, discounts, etc. It’s best to use our tool on this page and get an approximate estimate of how much you’d pay for homeowners insurance.
Q: What are the best homeowners insurance companies in Virginia?
A: Top insurance companies in Virginia are Nationwide, Safeco, and Progressive. These carriers have a wide assortment of products and some of the most affordable insurance rates out there. Their excellent J.D. Power rating and customer satisfaction are a true testimony of their quality.
Insurance Geek aims to find you the best insurance products on the market.
If you use our comparison tool, you’ll get the possibility to compare quotes from multiple carriers and decide what option works for your particular case.
We won’t settle for less than finding you the cheapest quotes and tailored coverage, so get in touch with Insurance Geek today and start the journey to financial stability!