Homeowners insurance in Virginia is generally affordable, and there are several excellent insurance companies to choose from. We evaluated companies 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, we selected State Farm as our top pick for the best home insurance in Virginia, because of its affordable prices, impressive discounts, and great customer service. In this review, we’ve included four other carriers that are among the best homeowners insurance options in the state.
The 5 Best Homeowners Insurance Companies in Virginia
| State Farm | Allstate | Auto-Owners Insurance | Farmers Insurance | Chubb | |
| Our review | Our review | Our review | |||
| AM Best Financial Strength Rating | A++ | A+ | A++ | A | A++ |
| J.D. Power 2019 Overall Customer Satisfaction Score | 831/1000 | 814/1000 | 826/1000 | 808/1000 | 775/1000 |
| Online Quote Tool | ✓ | ✓ | X | ✓ | X |
Average Cost of Homeowners Insurance in Virginia
The average cost of homeowners insurance in Virginia is $988. This is a whole $223 less than the national average of $1,211. 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 natural phenomena that make getting certain 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.
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 occurrence.
Helpful Resources for Virginia Homeowners
The Virginia Bureau of Insurance has several useful resources online for homeowners. If you want to educate yourself a little on how home insurance works in the state, you can check out its highly informative articles, which include your rights when working with a homeowners insurance company.
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.
Methodology
To find the best insurance companies in Virginia, we first started with a list of the 15 largest companies in the state by market share. To distill this list, we looked at their average annual premiums, average customer ratings from J.D. Power, and financial standing on analysis sites like S&P and AM Best.
We worked with Quadrant Information Services to provide data on home insurance rates by company, state, and age of home. Quadrant makes this information available using rate data that insurers are required to file with the state Department of Insurance. Rates are based on a sample profile created by Reviews.com for comparative purposes.
Best Virginia Homeowners Insurance Companies
State Farm
Pros
- Affordable premiums
- Strong financial rating
Cons
- Limited discounts
State Farm has a stellar reputation, with a “Better than most” rating on the J.D. Power 2019 Home Insurance Study. It also received the highest financial rating possible from AM Best and a very high rating from S&P, so homeowners can be confident of the company’s ability to pay out claims.
One of the more considerable downsides is that you get fewer discount options than other Virginia homeowners insurance companies on this list. But even without the additional savings, State Farm is still one of the least expensive companies we surveyed.
Allstate
Pros
- Convenient mobile app
Cons
- Doesn’t come with some standard coverage
Allstate stands out because, unlike some other Virginia homeowners insurance companies on this list, it offers its customers a convenient mobile app that makes all transactions extremely easy. You can get all your quotes and access to several other resources right from your phone, streamlining your experience as an Allstate customer.
However, policies don’t come with some standard coverage options. For example, you have to purchase extended coverage to insure your jewelry.
Auto-Owners Insurance
Pros
- Unique add-ons
- Special discounts
Cons
- Limited online capabilities
- Expensive
Auto-Owners Insurance, while not the most expensive in Virginia, is one of the most costly providers on this list. However, it offers a lot of unique discounts to save customers money, such as a mortgage-free discount and an automatic backup generator discount. It also provides add-ons like “Homeowners Plus,” which includes multiple coverage additions in one package and equipment breakdown.
The Auto-Owners Insurance website has minimal online capabilities, though, so you have to reach out to the company directly for quotes or if you want to file a claim.
Farmers Insurance
Pros
- Large number of discounts
- Claim forgiveness
Cons
- Average customer service rating
- High premiums
Farmers Insurance offers some of the best discounts of any insurance provider in Virginia. Adding to the savings is the fact that it’s one of the few companies to offer claim forgiveness if you haven’t had a claim for five consecutive years. Its premiums are the most expensive of our top five, but these offerings may help bring down your price.
While Farmers provides plenty of ways for you to contact the company, J.D. Power shows its customer service rating to be about average.
Chubb
Pros
- Strong financial rating
- Extensive coverage under standard policies
Cons
- No online quotes and claims
- Low customer satisfaction score
Chubb has impressive financial strength ratings, showing it’s capable of handling claims of all sizes. It also covers many things other insurance companies don’t as part of its standard policy, like replacement cost coverage for personal belongings and extended replacement cost coverage for your home.
The downside is that it has a below-average rating on the J.D. Power customer satisfaction survey compared to other options on this list. Plus, the company doesn’t offer online quotes or claims.
The Cheapest Homeowners Insurance Companies in Virginia
| Largest Companies by Market Share in Virginia | Average 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 |
| 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
The companies with the cheapest homeowners insurance in Virginia are Cincinnati Insurance Company, Progressive, and State Farm. On the other end lie Safeco, First Liberty Insurance Corporation, and Liberty Mutual, as the most expensive. It’s vital to keep in mind these rates are based on general profiles. The smartest way to find out the best value for your coverage is by requesting personalized quotes from the companies you’re interested in.
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. Also, keep in mind that no homeowners insurance policy in Virginia will cover property damage or losses for all causes.
What is the cheapest homeowners insurance in Virginia?
What you pay for your policy depends on factors like the age, size, and location of your house, as well as your credit score and the number of assets you own. From the average annual premiums of the largest companies by market share that we analyzed, Cincinnati Insurance Company had the cheapest homeowners insurance in Virginia.
About the Authors
Lorraine Roberte is a South Florida-based personal finance writer. Her work has been published on sites such as Thrive Global, Elephant Journal, Red Tricycle and Tweak Your Biz.
