8 Best Homeowners Insurance Companies in Virginia of 2023
Living in Virginia comes with its fair share of natural hazards, particularly its diverse landscape and proximity to the Chesapeake Bay and Atlantic Ocean, which puts homeowners at risk of hurricanes and flooding. Therefore, Virginia homeowners must secure comprehensive homeowners insurance to protect their property and valuables against such potential risks.
Homeowners insurance can save you from hefty out-of-pocket expenses in the event of heavy winds or other weather damage to your home. It also provides coverage for your most valuable assets, such as jewelry and artwork. When searching for the right policy for your needs, it's important to consider factors like affordability, customer service ratings, coverage options, discounts, policy features, and how easy it is to file a claim.
With so many factors to consider, choosing the best homeowners insurance provider for you can be overwhelming. That's why PropertyNest's expert editors have created a list of the top providers in Virginia. By comparing the coverage and cost of these policies, you can find the perfect fit for your unique needs and confidently protect your investment.
The Best Homeowners Insurance in Virginia
- Liberty Mutual: Best for Discounts
- Lemonade: Best For Handling Quick Claims
- Travelers Insurance: Best For Low Complaints
- State Farm: Best for Additional Coverage
- Nationwide: Best for Cheapest Premiums
- Chubb: Best for Covering Costly Items and Repairs
- Amica Mutual: Best for Dividend Policy
- Rockingham Insurance: Best for Customer Service
Liberty Mutual: Best for Discounts
- Available in 50 states & Washington, D.C.
- Quote access: Online or by phone
Liberty Mutual has one of the best rates in the US, with basic homeowners insurance coverage that’s around $110 per month.
Progressive and State Farm are in direct competition with Liberty, as both are similar in price.
But you probably won’t pay a monthly premium of $110.
That’s because Liberty has several discounts that will bring down the cost of your policy.
Here are the most common discounts:
- Multipolicy or bundling.
- Claims-Free: If you have never claimed with another homeowners insurance for five years or more, you’ll get a discount if you remove a new Liberty Mutual Policy.
- Security Device Discount: If you add to your home security cameras, alarms, fire alarms, burglar alarms, and deadbolts, and if you live near a fire hydrant, you can claim a discount.
- You'll also get a discount if you have water leak detection, shutoff devices, or sprinklers.
- A lower premium is if you bought a new or newly renovated home.
- Homeowners insured by another company are eligible for a reduced rate if they get a quote from Liberty before that other insurance terminates.
- If you choose replacement cost to insure your home rather than market value, you may get a reduction.
- If you set up automatic billing, you get a discount.
- Discount if you are an active military member or a veteran.
Read a full Liberty Mutual home insurance review.
Liberty Mutual Homeowners Insurance Pros & Cons
- 10% off if purchase insurance online.
- One of the least expensive companies on the market; discounts make it even more affordable.
- Endorsement for damage from water that backs up into home.
- Takes only 5-10 minutes to file claim.
- 10% off available in only select states.
- 10% off only basic policy; endorsements not included.
- Above average customer complaints.
- Coverage denied if own certain dog breeds.
|J.D. Power (out of 1,000)||805|
|A.M. Best - Financial Strength Rating||A|
|NAIC Complaint Index||2.37|
Lemonade: Best For Handling Quick Claims
Lemonade, as you probably know, is all AI, meaning you get instant quotes, buy coverage, and pay your bills, to name a few, from the company’s website and mobile app.
Lemonade is highly regarded for many things, but what sticks out is its easy way to file a claim and get a payout in a very short time.
You can file a claim anytime using the app or website, which saves time and provides ultimate convenience.
Lemonade handles 30% of claims instantly.
In most situations, your claim may be paid in as little as three minutes.
That means money is back in your pocket sooner than you thought.
Lemonade Homeowners Insurance Pros & Cons
- Fast premium quote.
- Flat fee on monthly premiums.
- 10% bundling discount when combining home insurance with pet insurance.
- Giveback program lets policyholders donate their unused premiums to the charity of their choice.
- Has coverage matching tool to help homeowners compare prices between home insurance companies.
- Offers a unique endorsement for swimming pool coverage.
- Company built for online use only.
- If unable to find answers regarding the policy, there are no live agent to speak to.
- Coverage not nationwide.
- Few discounts to lower premiums.
|J.D. Power (out of 1,000)||870|
|NAIC Complaint Index||1.94|
Travelers Insurance: Best For Low Complaints
Travelers have great coverage options, affordable rates, and a user-friendly website and app.
What stands out the most is that Travelers has low home insurance complaints, which means the company has far fewer complaints in comparison with similar homeowners insurance companies.
This is according to three years of data from the National Association of Insurance Commissioners (NAIC), which gave Travelers a low complaint index.
Another way Travelers stands out is its website, where you can easily shop for quotes or manage your policy online after becoming a member.
The website is also chock full of all the information you need about getting homeowners insurance.
Travelers Homeowners Insurance Pros & Cons
- Easy to find features on website and app.
- Discount for using environmentally friendly materials when repairing or rebuilding home after a covered peril. (This is unique coverage).
- Available in most US states, plus Washington, DC.
- Offers limited flexibility in terms of limits to choose for additional coverage.
- Makes you speak to a rep if you want additional coverage.
- Doesn’t insure mobile or manufactured homes.
- Policy is paid annually, not monthly.
- Can’t go below $30,000 of personal property.
|J.D. Power (out of 1,000)||794|
|A.M. Best - Financial Strength Rating||A++|
|NAIC Complaint Index||3.88|
State Farm: Best for Additional Coverage
- Available in 48 states & Washington, D.C.
- Quote access: Online & by phone
In addition to its standard homeowners coverage, State Farm offers several additional coverages so that you can make your policy comprehensive.
You pay for each add-on, and your premium will go up. However, some of the ones offered by State Farm are unique to the company and not found in competitor insurers. These are:
- Coverage for structures located outside the premises of your home.
- Coverage for homes that are rented out more than 30 nights a year.
- Service line coverage for underground utility lines that are damaged.
- Coverage to replace HVAC for more energy-efficient models.
- Vacant home: if you left it for more than 30 days, and there’s a burglary, you could get coverage for replacements.
- Compliance with building codes or zoning laws.
- Coverage of theft of building materials while your new home is being constructed.
- Equipment breakdown (furnaces, A/C units, etc.)
- Liability coverage for damage to other people’s property due to a waterbed.
State Farm Homeowners Insurance Pros & Cons
- Very affordable rates.
- Upgrade to weather-resistant roof gets roofing discount.
- 19,000 local agents throughout the US.
- Numerous insurance products available to bundle.
- Coverage if own energy-efficient appliances.
- Affordable insurance, but cheapest rate only available if you bundle.
- Not available in Massachusetts or Rhode Island.
- Lower than average consumer satisfaction.
|J.D. Power (out of 1,000)||829|
|A.M. Best - Financial Strength Rating||A++|
|NAIC Complaint Index||1.77|
Nationwide: Best for Cheapest Premiums
Nationwide is one of the cheapest home insurance companies of all comparable insurers.
The monthly premium is only $105, or $1,235 annually.
Nationwide beat the average cost of homeowners insurance in the US, a monthly rate of $115, or $1,405 per year.
It also beat its competitors based on quotes specifically covering Virginia residents.
Progressive and State Farm are higher at $115 per month.
Nationwide did not beat the average cost of home insurance in Virginia, which is a very affordable $96 a month.
But Nationwide makes up for it.
Specifically, the company offers coverage options that are standard to the basic policy but cost extra when offered by other insurers.
Here are some examples that come standard:
- Replacement coverage
- Inflation protection
- Loss assessment
- Identity theft protection up to $25,000
- Building ordinance coverage
Nationwide Homeowners Insurance Pros & Cons
- With discounts, your premium may be the cheapest in comparison with other insurers.
- Mobile app for policy management.
- Available in all 50 states.
- Helpful quote tool with education resources.
- Fewer customer complaints than expected for a company of its size.
- Could offer more in terms of coverage variety.
- Have to contact agent for quote in some states.
- Hard to reach customer service department.
- Thus, low rating for overall customer satisfaction.
- Mobile app can get you a quote or pay your bill, but most of the app is designed for auto policies.
|J.D. Power (out of 1,000)||816|
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||0.88|
CHUBB: Best for Covering Costly Items and Repairs
CHUBB homeowners insurance is costly, but then again, the company caters to the wealthy, such as those who live in Virginia towns such as Blacksburg, Williamsburg, Fredericksburg, Woodstock, and Charlottesville.
These residents live in homes over a million dollars and have high-cost personal properties like jewelry and fine art.
CHUBB offers a lot of incentives for the rich. Some of these are free to you or offered under Chubb’s standard policy.
For example, unlike other insurers, you can get higher liability costs with coverage up to $100 million.
You can get a tree removed after a storm hits your home.
Data restoration after a computer virus.
Extended replacement cost, which covers upgrades to coincide with current building codes.
You can rebuild your home even if damages exceed the limit in the policy.
If your home is destroyed, you get funds for coverage, but if you don’t like that option, CHUBB will provide you with a cash settlement.
Replacement cost rather than the depreciated value of your high-cost belongings.
Home repairs such as appliance repair damage pay for the full replacement cost.
- Ordinance of law coverage
- Water backup coverage
- Lock replacement
- Wildfire policy to defend your home
- Covers expenses for traumatic events like carjacking and home invasion
Chubb Homeowners Insurance Pros & Cons
- Excellent overall.
- Offers private flood insurance.
- Deductibles waived if loss is greater than $50,000.
- Unlimited loss-of-use coverage in most states.
- $25,000 in medical payments coverage.
- One of the highest-priced home insurance companies in the industry.
- Only covers high-cost homes.
- Most customers unable to get a quote online.
|J.D. Power (out of 1,000)||809|
|A.M. Best - Financial Strength Rating||A++|
|NAIC Complaint Index||0.21|
Amica Mutual: Best for Dividend Policy
Amica Mutual is known for its excellent customer service, which is why it has a very low complaint ratio, according to NAIC.
But one of the company’s stellar attributes is its dividend policy.
Amica’s dividend policy refunds a portion of the money back to you that you've already paid to the insurer to help you offset the overall amount you pay.
The payments are around 5-20% of your annual premium.
While a dividend policy may be expensive upfront, in the long run, you can save money.
Amica Mutual Homeowners Insurance Pros & Cons
- No limit on personal property coverage.
- Offers live 24/7 claims processing.
- Eight different discounts to lower your premium.
- Up to 18% off when you bundle.
- Loyalty policy discount after two years or more.
- Premium reduction if claims-free for three years.
- Offers deductibles as low as $100.
- Dividend policy not available for residents living in California, Florida, Missouri, and North Carolina.
- Discounts are not available in every state.
- Not available in AK and HI.
- Limited endorsements; popular ones like equipment breakdown and service line coverage are not available.
|J.D. Power (out of 1,000)||849|
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||0.32|
Rockingham Insurance: Best for Customer Service
Rockingham only covers Virginia and Pennsylvania, yet the company has one of the finest reputations.
That’s due to their affordable premiums, discounts that lower the cost of your rates, and excellent customer service.
You get the personalized attention you need that you can’t get with larger companies.
Their sign-up process is quick and easy. When you join the company, you are contacted the same day and can get coverage within 24 hours.
The reps are also friendly, prompt, and courteous, and because they treat you as human beings, you feel more at home with them.
And they will hold your hand as they guide you through your new policy, such as filing a claim.
In fact, after filing a claim, you can expect to get a check within a week.
Rockingham Insurance Homeowners Insurance Pros & Cons
- Best for those who prefer a smaller company with local roots.
- Receives very few complaints, a testament to their high level of customer support.
- Coverage can be tailor-made.
- Covers high-risk properties such as mobile homes, farms, and more.
- If invisible infrastructure (water pipes, electric lines, etc.) is damaged, insurer will give homeowners coverage they need.
- Policyholders argue they don’t receive full compensation for a claim.
- Not well-known outside the industry.
- Only available in two states.
- Being under-covered may happen due to a customizable policy.
|NAIC Complaint Index||0.96|
How We Ranked and Picked the Best Homeowners Insurance Companies in Virginia
Many homeowners insurance companies cater to Virginia residents, and it can be hard to differentiate which is best.
But we knew that the “best” homeowners insurance company had to have a high customer satisfaction rating, affordable pricing, many coverage options, and many discounts.
We looked at homeowners insurance policies based on how much coverage they offered.
Specifically, we considered a company with the most unique coverages that came standard in a basic policy and that you didn’t have to pay extra.
We looked out for the latter to ensure that the companies that made our list were the most affordable.
And if a company offered individualized coverage, like a decreasing deductible and full coverage for equipment breakdown rather than its depreciated value, we put that company on our list.
If a company didn’t have enough coverage, we looked at add-ons you had to buy separately.
We also turned to companies that offered no limits on personal property coverage.
We narrowed our focus on companies with the most unique or easy-to-qualify discounts that could bring down the price of your premium.
We also looked at companies that had affordable premiums. If the insurance company had a rate below the national average or the average cost of homeowners insurance in Virginia, we put that company on our list.
Discounts also played a huge part when we considered the price of a company.
We looked at many sites offering customer reviews to narrow down our options. The ones with the most positive reviews were included on our list.
Technology is a huge part of our lives.
Some technological advances, like Lemonade’s all-AI policy, were designed to save us time when filing a claim or purchasing an add-on because we could do those and much more at any time of the day or our convenience.
If a company’s website and the app allowed you to manage most of your insurance needs electronically or if both were easy to use even for the technophobe, we considered that company.
We surveyed insurance coverage prices in Virginia Beach, Chesapeake, Norfolk, Richmond, and Arlington.
Is It Mandatory to Buy Home Insurance in Virginia?
Homeowners insurance isn't mandatory by law.
However, if you have a home mortgage, the lender will likely require it to protect its investment.
Even if you own your home outright, homeowners insurance can spare you from spending a lot of money on out-of-pocket costs to rebuild your home if it gets damaged due to a covered peril.
What is Covered in Homeowners Insurance?
Here’s what Virginia home insurance typically covers for a basic insurance policy.
If your house is damaged or destroyed due to a fire, natural disaster, or a covered event you could not have predicted, your insurer will cover the cost of rebuilding your home.
If you cause bodily injury or property damage to another person unintentionally or through neglect, your insurance will pay for any medical bills the injured person needs and legal fees and legal representation if you’re sued.
This policy pays if someone is injured on your property and needs medical treatment, regardless of who’s at fault. Also, pay if you, a family member, or a pet like a dog injures someone elsewhere.
This pays to repair or replace personal belongings stolen or damaged in a covered peril, whether in your home or on a trip.
Loss of Use
If your home is destroyed and you can’t possibly live there due to health reasons, or because it’s simply inhabitable, loss of use pays for hotel stays and having meals at restaurants.
How Much Does Homeowners Insurance Cost in Virginia?
The average cost of homeowners insurance in the US is $117 a month.
The average cost of homeowners insurance in Virginia is $96 a month.
As you can see, coverage in Virginia is much lower than the national average.
What is the Cheapest Homeowners Insurance in Virginia?
In Virginia, home insurance is highly personalized and costs differently for each homeowner.
That’s because homeowners buy endorsements or separate policies to cover natural disasters that Virginia is known for: hurricanes and heavy wind.
This means your premium will rise for each add-on you buy, which is why there is no “one” cheapest home insurance.
But if you need facts, here they are:
The policy with the lowest rates is Nationwide, which charges a monthly premium of $103 in Virginia. It’s slightly higher than the US average, but the company has many discounts that can significantly lower your rate.
Following Nationwide, the two most affordable insurers are Progressive and State Farm. Both cost around $113 per month.
Despite being in the East Coast hurricane zone, Virginia home insurance rates are often below the national average.
Are There Ways to Reduce the Cost of Homeowners Insurance?
The biggest way to reduce the cost of your premium is to ask your insurer for discounts.
Discounts are things offered by an insurance company that you may or may not be able to fulfill.
For example, you can get a common discount if you are 55 or older and retired.
But many homeowners qualify for the multi-policy discount, also called bundling.
You can bundle your home insurance with your auto policy if the same insurer covers both, and you then qualify for a discount.
Keep in mind that you need to qualify for a discount. So. look for a company that offers discounts specific to your needs and which you can take advantage of.
So, if you had to be claims-free with a provider for six consecutive years and then moved to a new insurance company that would give you a discount for being clean, this is nearly impossible to achieve.
You had to have made a claim, even if it was only one time, if you are a human being.
Some other ways to save on homeowners insurance include:
- Shopping around.
- Choosing appropriate coverage types.
- Increasing your deductible.
- Increasing your credit score by paying down credit cards or reducing overall debt.
- Getting an agent.
- Making updates to your home that significantly alters it in a useful way, such as remodeling your kitchen.
How Do You Know Which Homeowners Insurance Company is Right for Me?
You should do your due diligence by getting as many quotes as you can from insurers.
To get a quote from an insurer, you supply your name, address, and phone number. But you also share your social security number, which bothers many people because it seems like an invasion of privacy.
To be prepared, here’s the info you need to provide to the insurance company:
- Your home’s value
- Your home’s age
- The size of your home
- The exact location of your home
- Details of security measures
- Any home additions and renos
- Details of the materials used to build your home
- Keep in mind that the following personal information will affect your premium
- Credit score
- Financial history and/or portfolio
- Your age
- Your income
Sharing this helps the insurer come up with a personalized quote for you.
Then, you can compare all the quotes to see which ones are the most affordable.
Next, research the companies you got quotes from.
Pay attention to companies that have many discounts to reduce your monthly premium.
Look at the company’s website to see if it is easy to navigate and to see if you can get important information about a policy.
See how easy it is to make a claim and how fast it is for a company to reimburse you.
What Coverage Should You Look For?
You should then look at what coverage the company has to offer.
You can do this if the company has a website, or you can call a rep.
Look at the coverage unique to the company and only offered by other insurers at a cost.
Look for the additional coverages you may need (and which will drive up your premium).
This is how to personalize a homeowners insurance policy.
Here are coverage examples and questions to ask:
- If standard insurance will only pay up to the policy limit, is it possible to increase your coverage at your own cost?
- If you were traumatized due to carjacking or home invasion, look for a company that covers related expenses.
- If a company offers individualized coverage, like decreasing deductible and equipment breakdown (your stove, sump pump, etc.).
- Can you get a discount if you use environmentally friendly materials when rebuilding or repairing your house?
- Does identity theft protection come standard in a basic policy, or do you have to buy it as an add-on?
- How easy is it to reach a customer service rep?
- Was the customer service rep accommodating, friendly, and useful?
Look at Ratings
Look at rating companies about home insurance that give you rankings of the best policies and why.
These are AM Best, NAIC, J.D. Power, and BBB.
- AM Best rates a company’s financial stability.
- JD Power and BBB both measure customer satisfaction.
- The NAIC complaint index compares the number of complaints an insurer has relative to its total annual premiums charged.
The national average is 1.0, and a lower score is the best.
You should be on the lookout for how many stars insurance was given or the number of positive reviews.
What’s Not Covered in Homeowners Insurance in Virginia?
A standard policy does not include property damage due to water damage caused by flooding from a hurricane.
A standard policy will only cover a limited expense, not up to the full value of your most prized possessions.
It also won’t cover termites, insect damage, bird or rodent damage, rust, rot, mold, or general wear and tear.
And if you neglect or fail to maintain your property, and it’s your fault that your property isn’t working properly, then you won’t be covered.
What Is an Add-On and an Endorsement and Do I Need Them?
Homeowners insurance protects us from emergencies we couldn’t have predicted, such as a covered peril.
A covered peril is an event that the insurer agrees to reimburse you after you file a claim.
Covered perils include fire, lightning strikes, windstorms and hail, the weight of snow and ice, theft, and vandalism.
Learn more about home fire insurance.
However, every policy has its limitations and exclusions.
That’s why you need to purchase add-ons.
Add-ons, also called endorsements, floaters, and riders, provide extra coverage that you pay, which can fill the gap between what the insurer will pay you after a claim and what the insurer won’t pay you due to your policy limit.
Add-ons also allow homeowners to expand the list of covered perils in their coverage.
As such, add-ons provide valuable protection and security to homeowners.
Endorsements allow homeowners to expand existing coverage where they need it most.
Endorsements can be expensive and will increase your premium. But just like add-ons, endorsements give you peace of mind that if disaster strikes, you’re covered.
What are Examples of Add-Ons?
With add-ons, homeowners can include benefits to their coverage that were previously excluded from the basic or standard policy.
For example, if you have expensive artwork and collectibles, a basic policy won’t be able to fully cover the cost if these were destroyed or damaged in a covered peril.
You’ll have to pay any remaining balance to replace your valuables.
But if you increase your personal property coverage, you’ll be fully protected.
Another example is that in Virginia, as well as in the entire US, a basic homeowner insurance policy will cover damage due to snow, high winds, and hurricanes, but it will not cover water damage from floods.
Sewer Backup Rider
Clogged or greasy drains are common home issues.
Sewage can cause a lot of damage to your home.
While some home insurance companies may include sewer backup protection in their basic policies, most don’t.
So, you have to get an endorsement that will protect your house from water damage due to sewage backup, septic systems, and drains.
Scheduled Personal Property
Usually, home insurance policies have limitations when it comes to expensive personal belongings. The amount that your policy can cover may not be enough to replace pricey artwork should a loss occur.
Remember, a standard policy will only cover a limited expense, not up to the full value of your most prized possessions.
So, if you own expensive artwork, you can schedule the item by adding it to your standard policy.
This will increase your premium but will fully cover the artwork.
Scheduling means you can enlarge your insurance coverage amounts for your artwork or other high-cost belongings.
A scheduled personal property endorsement can also reduce or even eliminate the deductible.
Home-Based Business Endorsement
Nowadays, working from home is what most employees desire. If you are lucky enough to work from home, you’ll have home office property like a computer, a copy machine, and a scanner.
You should consider purchasing a home-based business endorsement to protect your business property.
This endorsement covers personal property in your home office and can replace lost items in the event of a covered peril. Coverage also pays for medical bills resulting from accidents and injuries to business visitors.
Do You Need Additional Coverage for Natural Disasters in Virginia?
Homes in Virginia are more likely to get damaged by severe storms, hurricanes, and flooding than in other states.
This is due largely because Virginia is a state along the Atlantic Coast and is near several bodies of water.
Virginia is one of the top states in the nation that are most at risk of hurricanes and hurricane damage, hail, and heavy windstorms.
An insurer won’t cover flood damage from a hurricane. It also won’t cover earthquake and landslide damage.
While hail, wind, and windstorms are covered, the damage they may cause can be so catastrophic that it may be necessary or imperative to purchase a rider.
The added coverage you need in Virginia is a hurricane policy, hail insurance, and a windstorm policy.
That’s because insurers in coastal states like Virginia may make exclusions for damages resulting from heavy wind.
Purchasing a windstorm coverage endorsement can fully cover storm damage to your home.
So, if your roof blows off from the heavy wind, you should have enough coverage in your policy to replace it.
If a hurricane damages your home, the cost of rebuilding can be very high.
Hurricanes in Virginia are common, as hurricane season here lasts between June 1 and November 30.
The average reconstruction cost is $57,845 due to hurricane damage.
Hail, covered by a standard policy, also affects Virginia homes. The state is high in rank for hail events. So, it’s best to purchase additional coverage.
Here’s the takeaway:
Higher coverage limits provide more financial protection against disasters. And lower limits can leave you with more out-of-pocket expenses if something happens.