The 4 Best Virginia Homeowners Insurance Companies

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The state motto “Virginia is for lovers” isn’t about the commonwealth’s affinity for low home insurance premiums, but it could be. The average annual rate for homeowners insurance in Virginia is roughly $946, nearly $200 below the national average. Plus, with new developments popping up and an influx of new residents from colder climates and neighboring Washington, D.C., Virginia is becoming a popular destination for home buyers.

Whether you currently own a home in the Old Dominion or are looking to buy one soon, it’s important that you shop around and weigh your options for homeowners insurance. We’ve outlined the Virginia providers we believe will give you the best bang for your buck, and included a quote tool below so you can start comparing prices and get one step closer to making a decision.

Find the Best Home Insurance Rates

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

Best Homeowners Insurance in Virginia

The Simple Dollar’s top picks:

  • USAA
  • State Farm
  • Travelers
  • Allstate

How much should my deductible be?

The Virginia Bureau of Insurance estimates that most homeowners insurance policies sold in the state have a $500 deductible. If you choose a higher deductible — say, $1,000 — your annual premium will be lower. However, a higher deductible also means that you’re responsible for paying more money out of pocket for a claim before you can start collecting from your insurance company. Bear in mind the relationship between deductibles and premiums as you shop for the best homeowners insurance in Virginia.

USAA

Virginia is home to 27 military bases, so it’s no surprise that USAA is a top provider for homeowners insurance in the state. The United Services Automobile Association, or USAA, was originally founded by a group of military officers in 1922, and has since been providing affordable, high-quality insurance and award-winning customer care to veterans, active duty military members, and their families.

A standard policy under USAA protects against fire, theft, vandalism, and most weather-related damage, with full replacement cost coverage to rebuild or repair your home in the event that it is destroyed. USAA also provides up to 75% coverage for any personal property that may have been damaged, and up to $5,000 toward credit card fraud or identity theft.

Becoming a USAA member has numerous advantages — members receive banking benefits like free ATMs and low loan rates, as well as special retail discounts and additional saving options for auto, home, and life insurance policies. USAA’s Home Circle webpage also provides members with educational resources and tools, including a Home Buyer’s Guide and a mortgage calculator, so you can always feel supported.

State Farm

State Farm is the leading provider of homeowners insurance in the U.S., and is a popular choice for Virginia residents. A homeowners policy from State Farm includes coverage for just about any type of dwelling — be it a farm, ranch, mobile home, condo, or standard house — from damage caused by theft, fire, or freezing. State Farm also offers a broad selection of add-on coverage options, including those for personal property and liability, home businesses, and flooding, so you can easily customize your coverage depending on your needs.

Where State Farm really shines, however, is their efficient and user-friendly claims service department. In the unfortunate event that you need to file a claim, you can do so online, using State Farm’s 24-hour phone claims line, or by contacting a local agent. Their website is a wealth of information and walks you through the entire process, so you can rest assured that your claim is correctly completed and will have a desirable outcome.

Although the company doesn’t offer quite as many unique discount options as some of its competitors, such as those for newer homes and recent renovations, State Farm’s home insurance premiums are among the cheapest in the industry. If you think you qualify for discounts that aren’t available through State Farm, however, we’d advise that you keep shopping around.

Travelers

Travelers Insurance can help you save a good amount on your annual homeowners insurance premium since it offers plenty of discount options. Travelers has standard discounts, such as 15% off for policy bundling and going claims-free for a certain period of time, as well as a pretty unique 5% off if your home is LEED certified “green.”

Travelers offers comprehensive homeowners coverage in Virginia, protecting your dwelling, any other structures on your property, and your personal belongings, with extra coverage for any valuables you may wish to insure. Travelers also offers additional coverage options to protect you from anything the elements may throw at you, including earthquakes, floods, and landslides, as well as umbrella coverage to further protect you in a liability suit.

Travelers’ Prepare and Prevent online resource center has helpful information for every homeowner, including guides on dealing with and recovering from inclement weather and tips on home maintenance for each season, making sure you and your home stay safe.

Allstate

Along with affordable coverage, Allstate offers unbeatable policy management tools and resources. Their Digital Locker tool lets you keep an up-to-date inventory of your belongings, along with their respective worth and condition, to make filing a claim more efficient and effective if the time comes. Allstate’s Premium Gauge tool lets you see how different factors such as installing protective devices or renovating parts of your home will affect your annual premium rate so you can plan accordingly.

Allstate also has helpful articles and informational videos that can answer a wide range of questions you may have as a homeowner. The company offers comprehensive coverage options for multiple types of dwellings, including very old homes — a common need in colonial Virginia, and a feature missing from many competitors.

Allstate has a good amount of specialty discounts, like 10% off for new customers, so it would be worth calling or getting connected with one of their professional local agents to see what price breaks you qualify for and which policy would best suit the needs of your Virginia home.

The 4 Best Virginia Homeowners Insurance Companies

To recap, here’s the list of our best home insurance companies for Virginia homeowners:

  • USAA
  • State Farm
  • Travelers
  • Allstate

Find the Best Home Insurance Rates

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

Need more information on homeowners insurance? Check out our complete home insurance guide, as well as our guide for finding cheap homeowners insurance. Plus, check out our overall top picks for the Best Homeowners Insurance in 2016.