The 4 Best Homeowners Insurance Companies in Virginia

Advertiser Disclosure

With new developments rising up and an influx of new residents from colder climates and neighboring Washington, D.C., Virginia is a popular destination for homebuyers. They will be pleased to find out that the state’s average annual premium for homeowners insurance is $959, which is 22 percent below the national average of $1,228, according to Insurance.com.

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 most bang for your buck and have included a quote tool below so you can start comparing prices and get one step closer to making a decision.

Our Top Picks for Best Homeowners Insurance in Virginia

  • USAA
  • State Farm
  • Travelers
  • Allstate

Find the Best Home Insurance

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

USAA

USAA (United Services Automobile Association) was 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. Virginia is home to 27 military bases, so it’s no surprise that USAA is a top provider for homeowners insurance in the state.

A standard policy with USAA protects against fire, theft, vandalism and most weather-related damage, with full replacement cost coverage to rebuild or repair your home. USAA also provides up to 75 percent 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-interest loans, as well as special retail discounts and additional savings options for auto and life insurance policies. The USAA Home Circle page provides members with educational resources and tools, including a homebuyer’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 a freeze. State Farm also offers a broad selection of add-on coverage options 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 its 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 claims hotline, or by contacting a local agent. The website is a wealth of information and walks you through the entire process, so you can rest assured that your claim will be filed correctly and completely.

Although the company doesn’t offer quite as many 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 can help you save a good amount on your annual homeowners insurance premium through its many discount options. Travelers has standard discounts, such as 15 percent off for policy bundling and going claim-free for a certain period of time, as well as a 5 percent discount if your home has a LEED (Leadership in Energy and Environmental Design) certification.

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 the elements, including earthquakes, floods and landslides, as well as umbrella coverage to further protect you.

Travelers’ online resource center has helpful information for every homeowner, including guides on dealing with inclement weather and tips on home maintenance for each season.

Allstate

Along with affordable coverage, Allstate offers unbeatable policy management tools and resources. Its Digital Locker tool lets you keep an up-to-date inventory of your belongings, along with their value and condition, to make filing a claim more efficient and effective. 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.

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 old homes, a feature missing from many competitors, even though old homes are common in Virginia.

Allstate has a good number of specialty discounts, like 10 percent off for new customers, so it would be worth connecting with one of its local agents to see what price breaks you qualify for and which policy would best suit the needs of your Virginia home.

How much is homeowners insurance in Virginia?

The average annual rate for homeowners insurance in Virginia is $959, which is $269 below the national average. This varies based on the city where you are located and the rate factors listed below.

The average rate within the state is one indication of the cost of insurance, but your policy will also be based on several factors, such as the value of your home, the crime rate in the area, the risk of natural disasters and the level of coverage and extra protections you want.

The deductible plays a part in the cost of insurance, as well. 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.

Virginia Rate Factors

The risk of catastrophe will affect your insurance rate. As a state on the Atlantic coast, Virginia is at risk for hurricanes. Other catastrophe risks that can influence rates include flood, thunderstorms, snow and ice storms.

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

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 2019.