Compare accounts

Get guidance

Compare accounts

Get guidance

Money market accounts

Money market accounts are similar to savings accounts, but offer some checking features as well.

Get guidance

Banking

Skip the searching and find your next bank in minutes with BankMatch℠.

Get guidance

Compare rates

Get guidance

Compare rates

Get guidance

Buying & selling

Find an expert who knows the market. Compare trusted real estate agents all in one place.

Get guidance

Compare investments

Get guidance

Compare plans

Get guidance

Finding an advisor

Get guidance

Compare cards

Find your fit

See your card matches

Answer a few quick questions and we’ll show you your top credit card options.

Compare cards

See what the experts say

Read in-depth credit card reviews to find out which cards have the best perks and more.

Get guidance

Get advice

Build credit

Compare lenders

Get guidance

Compare lenders

Get guidance

Compare lenders

Get guidance

Compare lenders

Get guidance

HELOC

A HELOC is a variable-rate line of credit that lets you borrow funds for a set period and repay them later.

Home equity basics

Home equity loans

Home equity loans let you borrow a lump sum at a fixed rate, based on how much of the home you own outright.

Get guidance

Compare rates

Get guidance

Compare rates

Get guidance

Compare companies

Get guidance

Powered by Coverage.com (NPN: 19966249)

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Best homeowners insurance in Virginia for 2024

Mary Van Keuren has written for insurance domains such as Bankrate, Coverage.com, and The Simple Dollar for the past five years, specializing in home and auto insurance. She has also written extensively for consumer websites including Reviews.com and Slumber Yard. Prior to that, she worked as a writer in academia for several decades.

Maggie Kempken is an insurance editor for Bankrate. She helps manage the creation of insurance content that meets the highest quality standards for accuracy and clarity to help Bankrate readers navigate complex information about home, auto and life insurance. She also focuses on ensuring that Bankrate’s insurance content represents and adheres to the Bankrate brand.

Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance.

Maggie Kempken is an insurance editor for Bankrate. She helps manage the creation of insurance content that meets the highest quality standards for accuracy and clarity to help Bankrate readers navigate complex information about home, auto and life insurance. She also focuses on ensuring that Bankrate’s insurance content represents and adheres to the Bankrate brand.

Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance.

According to our research, Progressive, Chubb, Travelers, Erie and Mercury are among the best home insurance companies for homeowners in Virginia.

Powered by Coverage.com (NPN: 19966249)

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

The Bankrate Promise

At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict  editorial integrity, this post may contain references to products from our partners. Here’s an explanation of  how we make money. Our content is backed by Coverage.com  LLC, a licensed entity (NPN: 19966249). For more information, please see our  Insurance Disclosure.

On this page

Before choosing a home insurance company, it's important to consider several variables. That’s why Bankrate’s insurance editorial team, which includes licensed agents, has created a proprietary Bankrate Scoring model to make finding the best home insurance in Virginia simpler. Our scores consider average rates, financial strength, customer satisfaction, coverage options and more.

Here’s what we found when researching the best home insurance companies in Virginia:

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Editorial integrity

Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.

How we make money

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.

Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.

We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.

Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.

On This Page

On This Page

Compare the best homeowners insurance companies in Virginia

To help compare home insurance companies in Virginia, we've compiled data from our top five choices. The table includes average rates gathered from Quadrant Information Services, AM Best financial strength ratings, Bankrate Scores and 2023 J.D. Power Home Insurance Study scores for our five best homeowners insurance companies in Virginia. These companies are Erie, Chubb, Mercury, Travelers and Progressive.

Powered by Coverage.com (NPN: 19966249)

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Bankrate's trusted insurance industry expertise

The home insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers information they need to make educated decisions when shopping for home insurance.

46

years of industry expertise

122

carriers reviewed

34.5K

ZIP codes examined

1.2M

quotes analyzed

Compare home insurance rates

Answer a few questions to see personalized rates from top carriers.

Powered by Coverage.com (NPN: 19966249)

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Leaving so soon? Your custom quotes are just minutes away.

The top 5 home insurance companies in Virginia

Best for customer satisfaction

4.4

4.4

Avg. premium for $300K dwelling

Not available

Avg. premium for $300K dwelling

Not available

Customer satisfaction

856/1,000

Why Erie made our list: Based on our review, Erie is one of the best Virginia home insurance companies for customer satisfaction. In the 2023 J.D. Power Home Insurance Study, Erie earned a score of 856 out of 1,000, which places it at the top of the list. Erie also offers affordable premiums, based on our assessment, and robust coverage options for added protection. However, the company offers fewer discounts than some other companies reviewed, and you must contact an independent agent to get a quote.

Who Erie may be good for: Erie ranks highly for customer satisfaction and may be a good choice for customers who prioritize direct agent communication.

CheckmarkPros

Close XCons

Like Chubb, Erie Insurance includes many coverages that are optional with other companies as part of its basic policy. This includes replacement cost coverage, which is a valuable option that ensures you will be adequately covered to be able to replace your belongings without dipping into your wallet. There are only a few additional possibilities listed in the company's website, including the following:

Best for high-value homes

4.3

4.3

Avg. premium for $300K dwelling

$135/mo

Avg. premium for $300K dwelling

$1,614/yr

Customer satisfaction

801/1,000

Why Chubb made our list: Chubb may be an excellent choice for Virginia homeowners interested in comprehensive policies for high-value policies. Chubb policies may offer tree removal after a storm, data restoration after a computer virus and lock replacement for stolen or lost keys. Homeowners also have options for extended replacement cost, which includes coverage for upgrades to match current building codes. However, Chubb specializes in high-value homes, which may account for the company's higher-than-average premiums. Also, Chubb scored below average in customer satisfaction on J.D. Power's most recent home study.

Who Chubb may be good for: Homeowners with high-value properties or personal property may find Chubb’s coverage packages to be beneficial.

CheckmarkPros

Close XCons

Many coverages that are optional with other insurers are included in Chubb's basic homeowner’s policy. This includes replacement cost coverage, which pays to replace your belongings at current value without taking depreciation into account. Perhaps because Chubb has so many options included in its basic plans, it offers few extra endorsements.

Best for affordable rates

4.3

4.3

Avg. premium for $300K dwelling

$87/mo

Avg. premium for $300K dwelling

$1,044/yr

Customer satisfaction

Not rated

Why Mercury made our list: According to the premium data we reviewed, Mercury offers rates much lower than the Virginia average. So, it may be a good option for homeowners who want the best cheap homeowners insurance in Virginia. In addition, Mercury offers a handful of discounts for further savings, with discounts for bundling policies, installing protective devices, living in a gated community and more. While Mercury is a reputable home insurance provider, it has the lowest AM Best rating of the companies we reviewed — although it is still considered very strong. Mercury was also not included in the most recent home insurance study conducted by J.D. Power.

Who Mercury may be good for: People looking for low average rates as their top priority may find Mercury to be an attractive option, as it has the lowest average premium on our list.

CheckmarkPros

Close XCons

While Mercury is a smaller company that only offers coverage in a limited range of states, including Virginia, the company does have several endorsements that may be useful to homeowners. The company's low average rates may make these optional riders especially attractive.

Best for sustainable homes

4.1

4.1

Avg. premium for $300K dwelling

Not available

Avg. premium for $300K dwelling

Not available

Customer satisfaction

790/1,000

Why Travelers made our list: Travelers may be a great home insurance provider to consider if you own a sustainable home built with green materials. It's the only company on our list that claims to offer a green home discount, with savings of up to 5 percent if your home is LEED-certified. You can also purchase green home coverage from Travelers, which provides extra protection to cover the higher costs of repairing or rebuilding your home with sustainable materials after a covered claim. Like Progressive, Travelers has cheap average premiums and earned a below-average score from J.D. Power for overall customer satisfaction. It also scored lower than average on the 2023 J.D. Power U.S. Property Claims Satisfaction Study.

Who Travelers may be good for: Those with homes built with sustainability in mind may find Travelers a good fit as the company offers specialized discounts certified “green homes.”

CheckmarkPros

Close XCons

Travelers offers a robust assortment of endorsements to allow you to customize your policy to meet your specific needs. Here are a few of them:

Best for policy bundling

Progressive

Avg. premium for $300K dwelling

$110/mo

Avg. premium for $300K dwelling

$1,323/yr

Customer satisfaction

Not rated

Why Progressive made our list: If you are looking to bundle your home and auto insurance policies, consider Progressive. Virginia homeowners who bundle two or more policies with Progressive can save an average of 5 percent on their combined premium. Plus, it offers a single deductible benefit. If the same covered loss impacts your home and car, you are only responsible for paying one deductible for the claim. Progressive offers affordable rates in Virginia, but has a slightly higher-than-baseline amount of customer complaints for its home insurance product per the National Association of Insurance Commissioners (NAIC).

Who Progressive may be good for: Customers looking to bundle policies may find Progressive a good fit because of the savings it offers for both home and auto coverage.

CheckmarkPros

Close XCons

Progressive offers a full range of coverage types that are standard for most home insurance policies, including dwelling, loss of use and personal possessions insurance. The company has few endorsements, so there are limited options to customize your policy. Here are the only riders listed on the company's website:

Additional Virginia home insurance companies to consider

Virginia Farm Bureau

Who this may be best for

Homeowners who prefer doing business with a local company

Virginia Farm Bureau has been providing insurance for Virginia homeowners, drivers and farmers since 1926. It has a presence throughout the state, with more than 100 local offices. In order to apply for insurance, you will need to join the Farm Bureau, which is a $40 annual commitment, and which gives you access to other benefits, including coupons, warehouse deals and agricultural business development. Coverage options are standard, with endorsements available for home equipment breakdown, valuable items coverage and more.

Homeowners of America

Who this may be best for

Homeowners who prefer working with a smaller company

Homeowners of America is a recent addition to the Virginia property insurance market; it has only been licensed to write policies in the state since 2015. Coverage includes dwelling, other structures and loss of use insurance. Although the company's website does not list any endorsements, you should be able to find out about optional coverages by talking to an independent agent. The website has few bells and whistles, but it does allow you to manage your policy and file claims online. The company does not, however, have a mobile app.

How Bankrate chose the best home insurance companies in Virginia

To find the best Virginia homeowners insurance companies, Bankrate's insurance editorial team researched and reviewed some of the largest companies by market share in the state. After evaluating each company in-depth and collecting average rate data from Quadrant Information Services, companies were given a Bankrate Score out of five points. To calculate Bankrate Scores, the editorial team graded each carrier on important features, like coverage options, affordability, availability, online tools and third-party ratings and scores.

Cheapest home insurance companies in Virginia

Virginia home insurance costs can vary depending on multiple factors such as your location and the age of your home. The average home insurance cost in Virginia is $1,487 for $300K in dwelling coverage, but you may be able to find cheaper options by gathering quotes from several Virginia home insurance companies and seeing which one has the most affordable option for you. Consider taking a look at some of the companies Bankrate discovered that are offering cheap coverage in the state:

Bankrate's insurance editorial team reviewed average rate data sourced from Quadrant Information Services to determine the companies that were writing the best cheap home insurance in Virginia. The top choices, which we've listed above, all offer solid coverage options at a low average cost for homeowners in the state.

Bankrate's insurance editorial team reviewed average rate data sourced from Quadrant Information Services to determine the companies that were writing the best cheap home insurance in Virginia. The top choices, which we've listed above, all offer solid coverage options at a low average cost for homeowners in the state.

How to get cheap Virginia home insurance

Finding affordable home insurance can make protecting your home and finances easier. In the case of disaster, home insurance policies can help pay for the cost of repairs or replacement, provided the incident is one of the named perils covered in the policy. Consider taking the steps below to find the best insurer for your needs.

Best home insurance discounts in Virginia

Home insurance discounts are commonly offered by providers and can help policyholders lower their rates. Below are some of the more common home insurance discounts in Virginia, as recommended by the Virginia State Corporation Commission.

How to save on home insurance policy renewals in Virginia

So you've done your homework, researched your options and found the best homeowners insurance in Virginia for your needs. How do you keep that rate from increasing when it's time to renew? Is it possible to save even more so that you are paying less in the future? Consider the following strategies for saving money:

How much is home insurance in Virginia?

In Virginia, the average home insurance premium is $1,487 per year for a policy with $300,000 in dwelling coverage. That's cheaper than the U.S. national average rate of $2,153 per year. While home insurance rates might be more expensive near the coast, homeowners who live inland may especially benefit from lower rates.

Virginia homeowners insurance rates by city

Even within a single state, rates can vary depending on the weather patterns and other risks that are common to a particular region.

*Rates are for $300,000 in dwelling coverage.

What does home insurance cover in Virginia?

Virginia is susceptible to a variety of weather patterns that may cause damage to homes and property, so it can be helpful to know what a standard HO-3 policy covers. Here are just a few of the most common covered perils in the state:

Additional home insurance coverage types in Virginia

Homeowners insurance doesn’t cover all types of damage, including various types of water damage. It may be worth exploring other types of insurance in VA to maximize your protection. Some homes in Virginia, particularly along the coast, are prone to experiencing flood damage from hurricanes and other tropical storms.

The Virginia Department of Conservation and Recreation warns that 1 inch of water in a home can cause $25,000 or more in damage. Yet, only about 3 percent of Virginians have flood insurance. You may also benefit from windstorm coverage and other types of damage insurance in certain areas.

Related content:

Virginia flood insurance Previously Read

Buying a house in Virginia: A how-to Previously Read

Windstorm insurance Previously Read

Common Virginia home insurance problems

Virginia is a large state. Depending on where you live in the state, your insurance challenges are going to vary. Unlike some states — Florida and California, for example — the insurance industry in Virginia is fairly stable, which is a benefit for homeowners. You may deal with one or more of the following challenges, though, depending on where you live and the type of insurance you need:

New

A recent Virginia media report noted an unfortunate trend that is being seen in coastal regions across Atlantic and Gulf Coast states: insurers are beginning to pull out of the eastern Virginia market, due to increasing numbers of storms that are causing appreciable damage to homes and properties. The report noted that areas such as Virginia Beach are seeing the highest number of non-renewals, a trend that began in 2022. This follows on a trend first seen in the volatile insurance markets of Florida and California, where a number of major companies have either voluntarily withdrawn from the market or stopped writing new policies.

Frequently asked questions

What is the best homeowners insurance in Virginia?

The best homeowners insurance in Virginia is different for each property owner. The best carrier for you depends on your unique coverage needs, preferences and requirements. Additionally, every home insurance company has advantages and drawbacks. To find the best home insurance company in Virginia, it’s important to shop around, get multiple quotes and compare providers using your criteria.

The best homeowners insurance in Virginia is different for each property owner. The best carrier for you depends on your unique coverage needs, preferences and requirements. Additionally, every home insurance company has advantages and drawbacks. To find the best home insurance company in Virginia, it’s important to shop around, get multiple quotes and compare providers using your criteria.

What is the cheapest homeowners insurance in Virginia?

The cheapest homeowners insurance company in Virginia is different for everyone. Virginia home insurance rates are highly personalized, and they depend on a number of factors related to the home and the homeowner. For this reason, your actual insurance costs may be higher or lower than the average rate in Virginia. Common home insurance rating factors include the size of your home, location, construction materials used, year built and proximity to a fire station and fire hydrants. Your lender will also assess personal rating factors, such as your credit-based insurance score, age, marital status and claims history. Because of this, it can be helpful to request multiple homeowners insurance quotes from different companies to see what works best for your needs and budget.

The cheapest homeowners insurance company in Virginia is different for everyone. Virginia home insurance rates are highly personalized, and they depend on a number of factors related to the home and the homeowner. For this reason, your actual insurance costs may be higher or lower than the average rate in Virginia. Common home insurance rating factors include the size of your home, location, construction materials used, year built and proximity to a fire station and fire hydrants. Your lender will also assess personal rating factors, such as your credit-based insurance score, age, marital status and claims history. Because of this, it can be helpful to request multiple homeowners insurance quotes from different companies to see what works best for your needs and budget.

What is the difference between homeowners insurance and hazard insurance?

Hazard insurance is not a separate coverage but rather a portion of your homeowners insurance Virginia policy that specifically covers your home and personal belongings if they are damaged by a covered peril such as fire and smoke, lightning, windstorm, hail and explosion. The rest of your policy covers other instances like theft and medical expenses if someone were injured on your property and provides loss of use coverage if you cannot occupy your home due to a covered loss.

Hazard insurance is not a separate coverage but rather a portion of your homeowners insurance Virginia policy that specifically covers your home and personal belongings if they are damaged by a covered peril such as fire and smoke, lightning, windstorm, hail and explosion. The rest of your policy covers other instances like theft and medical expenses if someone were injured on your property and provides loss of use coverage if you cannot occupy your home due to a covered loss.

Looking for discounts is one of the best ways to save on homeowners insurance in Virginia. You may be able to get a discount for bundling your auto insurance with homeowners insurance, setting up automatic payments, remaining claims-free for at least three years or having certain safety features in your home. You may also be able to save on home insurance in Virginia by improving your credit (in most states). Finally, experts recommend comparing at least three quotes for the same coverage types and levels before you purchase a policy to make sure you’re getting the best deal.

Looking for discounts is one of the best ways to save on homeowners insurance in Virginia. You may be able to get a discount for bundling your auto insurance with homeowners insurance, setting up automatic payments, remaining claims-free for at least three years or having certain safety features in your home. You may also be able to save on home insurance in Virginia by improving your credit (in most states). Finally, experts recommend comparing at least three quotes for the same coverage types and levels before you purchase a policy to make sure you’re getting the best deal.

Methodology

Bankrate utilizes Quadrant Information Services to analyze May 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required). These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Mary Van Keuren has written for insurance domains such as Bankrate, Coverage.com, and The Simple Dollar for the past five years, specializing in home and auto insurance. She has also written extensively for consumer websites including Reviews.com and Slumber Yard. Prior to that, she worked as a writer in academia for several decades.

Maggie Kempken is an insurance editor for Bankrate. She helps manage the creation of insurance content that meets the highest quality standards for accuracy and clarity to help Bankrate readers navigate complex information about home, auto and life insurance. She also focuses on ensuring that Bankrate’s insurance content represents and adheres to the Bankrate brand.

Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance.

Bankrate logo Bankrate

About

Help

Legal

How we make money

Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.

Bankrate, LLC NMLS ID# 1427381 | NMLS Consumer Access BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access

© 2024 Bankrate, LLC. A Red Ventures company. All Rights Reserved.