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Last updated on Sep 28, 2020

The Best Homeowners Insurance Companies in Virginia

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    Homeowners insurance in Virginia is generally affordable, and there are several excellent insurance companies to choose from. We evaluated providers with the largest market share in Virginia and compared their customer service, financial strength, policies, pricing, and discounts and endorsements from sources like J.D. Power, AM Best and the company website.

    From this analysis, three of the five providers we chose also stand out on a national level and are part of our best homeowners insurance companies in the U.S. list: State Farm, Allstate and Farmers Insurance. State Farm takes the lead for its affordable prices, impressive discounts, and excellent customer service. In this review, we’ve also included four other carriers that fall among the Old Dominion’s best homeowners insurance options.

    The 5 Best Homeowners Insurance Companies in Virginia

    Compare Virginia’s Top Insurance Companies

    CompanyAverage PriceAM Best Financial StrengthJ.D. Power Overall Customer Satisfaction*
    State Farm$942A++829
    Chubb$1,650A++778
    Allstate$1,722A+829
    Auto-Owners Insurance$1,879A++843
    Farmers Insurance$2,049A+814

    Information as of 09/23/2020.

    *Based on a 1,000-point scale.

    State Farm

    State Farm offers above-average customer support along with competitive pricing and solid coverage options. For those new to home ownership, its Simple Insights blog can tell you everything you need to know about homeownership in general.

    State Farm

    Best Web Experience

    Why we chose it

    Providing a high-quality customer experience is only one of State Farm’s strengths. It also offers good policy coverages with add-ons to allow you to customize your policy.
    • 3.75 Reviews Score
    • A++ AM Best Rate AM Best rates car insurance provider’s creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 829* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    Providing a high-quality customer experience is only one of State Farm’s strengths. It also offers good policy coverages with add-ons to allow you to customize your policy.

    Pros

    • Financially strong
    • Excellent web presence
    • 19,000+ agents nationally
    • Informative blog

    Cons

    • Limited discounts
    • Higher premiums
    Read More

    Discounts available

    • Multiple policy discount
    • Fire, smoke, or burglar alarms discount
    • Impact-resistant roof discount

    Unique features

    State Farm’s comprehensive website makes it easy to get a detailed quote in minutes. You can also pay your bill, file and manage a claim, and handle most maintenance tasks either online or via the company’s app.

    *J.D. Power 2020 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale

    Further Reading on State Farm:

    Chubb

    Chubb takes homeowners insurance to the next level by providing a variety of services and perks you won’t find anywhere else. If you’re insuring a home with expensive upgrades, contents that may need extra coverage, or if you’re also insuring a second vacation home, be sure to check what this insurer has to offer.

    Chubb

    Best for High-Value Homes

    Why we chose it

    Chubb’s level of service, financial strength and unique policies for customers with higher net worth makes the slightly higher premium costs still a good value.
    • 3.75 Reviews Score
    • A++ AM Best Rate AM Best rates car insurance provider’s creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 778* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    Chubb’s level of service, financial strength and unique policies for customers with higher net worth makes the slightly higher premium costs still a good value.

    Pros

    • Homeowners insurance policies geared towards more affluent customers
    • High customer satisfaction ratings
    • Cash settlement policies available

    Cons

    • More expensive than average
    • Independent agent required to purchase a policy
    Read More

    Discounts available

    • In-house caretaker, or 24/7 security services discount
    • Claims-free discount
    • Gated community discount

    Unique features

    Chubb understands the special needs of more affluent homeowners. Besides the coverages for higher-value homes, the insurer provides special “white glove” services, such as assigning you a property manager to handle your vacation home’s claim in-person on your behalf if you’re unable to travel.

    *J.D. Power  2020 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale

    Allstate

    Allstate’s strength is in the diversity of its offerings and discounts, which allow you to pick and choose the coverage that works best for your circumstances. It has a great website, with tons of useful information.

    Allstate

    Best for New Homebuyers

    Why we chose it

    Allstate’s discounts add up to lower premiums, making the company a good choice for anyone who’s looking to save a few dollars on their premium costs. Allstate is also generous in their coverage, providing up to $10,000 for accidental damage.
    • 4 Reviews Score
    • A+ AM Best Rate AM Best rates car insurance provider’s creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 829* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    Allstate’s discounts add up to lower premiums, making the company a good choice for anyone who’s looking to save a few dollars on their premium costs. Allstate is also generous in their coverage, providing up to $10,000 for accidental damage.

    Pros

    • Diverse discount opportunities
    • Informative website and digital tools
    • Above-average customer service

    Cons

    • NAIC complaint index high
    • Financial strength ratings good, but not great
    Read More

    Discounts available

    • Early signing discount
    • Home buyer discount
    • Hail-resistant roof discount

    Unique features

    Allstate’s discount list is longer than most national insurers. You could save up to 10% on your premiums if you sign up for your new policy at least 7 days before the current one expires.

    *J.D. Power 2020 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale

    Further Reading on Allstate:

    Auto-Owners Insurance

    If you prefer doing your insurance business in person or by phone rather than digitally, Auto-Owners could be a good fit for you. Auto-Owners doesn’t have an online quote tool, nor can you report a claim online.

    Auto-Owners

    Best for Unique Add-ons

    Why we chose it

    The company has a track record of landing near the top of consumer rating organizations. It’s third on Consumer Reports’ listing with an excellent 89 out of 100. J.D. Powers gives it four out of five Power Circles for overall satisfaction, as well as high marks for claim servicing, estimating and settlement of claims.
    • 4 Reviews Score
    • A++ AM Best Rate AM Best rates car insurance provider’s creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 843* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    The company has a track record of landing near the top of consumer rating organizations. It’s third on Consumer Reports’ listing with an excellent 89 out of 100. J.D. Powers gives it four out of five Power Circles for overall satisfaction, as well as high marks for claim servicing, estimating and settlement of claims.

    Pros

    • Excellent customer service
    • Financially solid
    • High claims satisfaction
    • Special discounts & Unique add-ons

    Cons

    • Poor digital experience
    • Not rated by all credit agencies
    • Expensive
    Read More

    Discounts available

    • Multi-policy discount
    • Protective devices discount
    • Automatic backup generator  discount

    Unique features

    Auto-Owners offers many discounts, some quite unusual for most insurance companies. These include an automatic backup generator discount, a water shut-off system discount, a mortgage-free discount and a favorable loss history discount. 

    *J.D. Power 2020 U.S. Home Insurance Study, based on a 1,000-point scale

    Further Reading on Auto-Owners:

    Farmers

    Farmers offers an unusual quoting system that features three tiers of service. Within those three tiers, you can further customize your policy if you have, say, expensive electronics or jewelry to cover.

    Farmers

    Best Pricing Options

    Why we chose it

    Those three options for your coverage allow you to choose a policy that works for your pocketbook. Even at the lowest level, you can choose higher coverages for specific items, making your policy one of a kind.
    • 3.5 Reviews Score
    • A AM Best Rate AM Best rates car insurance provider’s creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 814* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    Those three options for your coverage allow you to choose a policy that works for your pocketbook. Even at the lowest level, you can choose higher coverages for specific items, making your policy one of a kind.

    Pros

    • Three tiers of coverage
    • Bundling discounts
    • Identity theft coverage available

    Cons

    • Sparse website
    • Not as many discounts
    Read More

    Discounts available

    • Nonsmokers discount
    • Multiple policies discount
    • Professional group member discount

    Unique features

    Farmers’ three tiers — standard, enhanced, and premier — let you pick the best coverage based on cost and coverages. The highest level, premier, includes replacement cost coverage with 100% reimbursement regardless of policy limits.

    *J.D. Power 2020 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale

    Further Reading on Farmers:

    Average Cost of Homeowners Insurance in Virginia

    Per the NAIC, the average cost of homeowners insurance in Virginia is $988. This is $223 less than the national average of $1,211. Your actual premium might be more or less than the state’s average depending on your unique situation and what you need from your home insurance. The insurance premium you pay depends on many factors, such as the size, age, and location of your home and the discounts offered by your provider.

    Home Insurance Add-Ons That Will Further Protect You 

    Virginia is vulnerable to several hazards that make getting specific home insurance add-ons a wise choice. Consider adding fire coverage to your policy because fires are widespread in the state. For instance, Virginia fire departments responded to an average of 2,333 incidents per day in 2018, and in 2019 there were 52 home fire fatalities in the state. 

    Virginia is also susceptible to flooding, so purchasing a flood insurance policy in addition to your home insurance may prove invaluable if your home floods due to a storm or other natural event. 

    The Cheapest Homeowner Insurance Companies in Virginia

    Largest Companies by Market Share in VirginiaAverage Annual Premium 
    Cincinnati Ins Co$627
    Progressive$921
    State Farm$942
    Donegal Mut Ins Co$1,356
    Occidental Fire & Cas Co Of NC$1,380
    Chubb$1,650
    Virginia Farm Bureau Mut Ins Co$1,656
    ALFA Insurance$1,713
    Allstate$1,722
    Auto-Owners Insurance$1,879
    Farmers Insurance$2,049
    Mercury Insurance$3,334
    Encompass$3,338
    Liberty Mutual$3,488
    First Liberty Ins Corp$3,599
    Safeco$4,390

    Cost of Homeowners Insurance by Age of Home 

    Age of Home (years)Sample Annual Premium 
    5$2,056
    20$2,598
    35$2,839
    50$2,787
    Average Across Ages$2,570

    Top 3 Cheapest Homeowners Insurance Companies in Virginia

    • Cincinnati Insurance Company: $627 
    • Progressive: $921 
    • State Farm: $942

    Top 3 Most Expensive Homeowners Insurance Companies in Virginia

    • Safeco: $4,390
    • First Liberty Insurance Corporation: $3,599
    • Liberty Mutual: $3,488

    Helpful Resources for Virginia Homeowners

    The Virginia Bureau of Insurance has several useful resources online for homeowners. If you want to educate yourself on how home insurance works in this state, you can check out its highly informative articles, including one about your rights when working with a homeowner insurance company. If what you are looking for is information about laws, regulations and resources for homeowners insurance in Virginia, the Homeowners Protection Bureau website is a useful source. 

    The Department of Housing and Urban Development has even more resources for Virginia homeowners that show where to get help with home repairs, avoid foreclosure, receive assistance with utility bills, and more. 

    Homeowners Insurance FAQ 

    Is homeowners insurance required in Virginia?

    Homeowners insurance is not legally required in Virginia. If you have a mortgage, insuring your home may be part of your lender’s terms.

    What is the cheapest homeowners insurance in Virginia?

    Per our research, Cincinnati Insurance Company had the cheapest homeowners insurance in Virginia—followed by Progressive and State Farm. The smartest way to find out the best value for your coverage is by comparing quotes from the companies you’re interested in. 

    Methodology

    We evaluated the companies based on their customer rating and experience, financial stability, and coverage to determine the best providers. To compare home insurance companies in Virginia across the board, we then calculated a Reviews.com score based on the following:

    • Customer Ratings: Customer ratings are an indication of satisfaction with the process of filing a claim. We measured this using J.D. Power Homeowners Satisfaction ratings.
    • Coverage: As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options and add-ons available. 
    • Confidence: It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength will not have issues paying out claims, regardless of the amount. However, companies with weak financial strength might not be able to pay out claims. We measured this using AM Best’s ratings, which specializes in assessing the financial strength of insurance companies.
    • Customer Experience: The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the NAIC National Complaint Index.

    About the Authors

    Nina Rodríguez-Quirós

    Nina Rodríguez-Quirós Feature Writer

    Nina Rodríguez-Quirós is a feature writer for Reviews.com. Over the last year, she has covered insurance providers, claims handling, coverage and more. She has been featured in Allconnect.com and holds a Master’s Degree in Theory and Research of Communications from the University of Puerto Rico. Her favorite review is Millennials and Auto Insurance.

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