Best homeowners insurance in Virginia (2024)

State Farm home insurance is one of the best overall home insurance providers in Virginia thanks to statewide availability, large selection of policy options for most home types, high customer service marks, and industry-best financial stability ratings.

Pros

• Save up to $1,127 per year when you bundle your home and auto insurance

• Excellent line-up of policy add-ons, including extended replacement cost coverage

Cons

• No longer sells home insurance policies in California

• 20% more complaints filed with the NAIC than other companies of its size

Why we chose State Farm

At a time when lots of competitors are no longer insuring homes in areas prone to wildfires or hurricanes, State Farm continues to offer its relatively affordable and highly-rated home insurance to homeowners in most parts of the country, including Virginia.

While some of its competitors may not have the financial strength to pay out claims after several natural disasters in the same year, State Farm isn't one of them. It earns the highest rating possible from A.M. Best for financial strength and stability — only six insurance companies out of nearly 70 we reviewed hold this title.

How do State Farm home insurance rates compare to the Virginia average?

The average cost of State Farm home insurance in Virginia is $1,330 per year, which is slightly more expensive than the average state annual premium of $1,277.

How to get a quote

Online through State Farm

Nationwide is one of the best homeowners insurance companies in Virginia for people who want complete coverage. You can strengthen a basic Nationwide policy with the company's range of coverage add-ons. Nationwide also has high claims satisfaction ratings.

Pros

• Multiple high-quality coverage options

• Highly rated for claims satisfaction with J.D. Power

• Available in most states

Cons

• Below-average customer satisfaction and digital experience ratings

• Won’t cover Airbnbs or other short-term rentals

Why we chose Nationwide

Nationwide is the best homeowners insurance company for those who can take advantage of its large selection of coverage options. These include guaranteed and extended replacement cost coverage, better roof replacement, new belongings coverage, water backup protection, and equipment breakdown coverage.

Nationwide has also received high ratings from J.D. Power for claims satisfaction, and it ranks fifth on J.D. Power's Property Claims Satisfaction Study from 2022. The company also receives far fewer complaints than other insurers, according to the National Association of Insurance Commissioners.

Although we found that Nationwide's rates are slightly more expensive than average in Virginia, you might be able to lower your premiums with the company's discounts. These include discounts for bundling, renovating your home, buying a new home, and others.

How do Nationwide home insurance rates compare to the Virginia average?

The average cost of Nationwide home insurance in Virginia is $1,428 per year, which is 10% more expensive than the state average of $1,277 and 22% more expensive than the annual national average of $1,754.

How to get a quote

Online through Policygenius or Nationwide

Erie's wide range of coverage options, industry-best customer service ratings, and affordable rates make it one of the best home insurance companies in Virginia.

Pros

• Cheap rates

• Guaranteed replacement cost comes standard on Erie policies

• Excellent customer service and claims satisfaction ratings

Cons

• Only available in 12 states

• Just three available discounts

• Can’t get quotes or file claims online

Why we chose Erie

Erie is one of the best homeowners insurance companies in Virginia for residents who want to add more protection to a basic policy, get top-rated customer service, and pay cheaper-than-average premiums.

Home insurance policies from Erie come standard with guaranteed replacement cost coverage — which you often have to pay extra for at other companies. A basic policy also covers lost and misplaced items, jewelry, and gift cards to closed businesses.

Erie also offers a range of add-ons that you can purchase, like short-term rental coverage, equipment breakdown coverage, water backup protection, underground service line coverage, and more.

How do Erie home insurance rates compare to the average in Virginia?

The average cost of Erie home insurance in Virginia is $1,371 per year, which is 6% higher than the state average of $1,277 and 28% cheaper than the annual national average of $1,754.

How to get a quote

Online through Erie

Farmers is one of the best home insurance companies in Virginia for those who want to add coverage to their policies. Farmers also has a range of discounts and high claims satisfaction scores.

Pros

• Above-average property claims satisfaction rating with J.D. Power

• Extended and guaranteed replacement cost for your home

• Shave $50 off your deductible each year you’re with Farmers

Cons

• Below-average scores on J.D. Power’s digital experience survey

Why we chose Farmers

Farmers is one of the best home insurance companies in Virginia, especially if you want to add coverage to a basic policy. Optional coverages from Farmers include guaranteed or extended replacement cost coverage, water backup protection, and a personal articles floater.

Farmers also earned a high score in J.D. Power’s 2022 claims satisfaction study (though it scored below average on J.D. Power’s overall customer satisfaction and digital experience surveys). Plus, Farmers receives fewer complaints than average, according to the National Association of Insurance Commissioners.

Farmers is one of the best companies for bundling home and auto coverage (you could save up to 18% on your premiums by bundling). The company also offers more than a dozen other discounts, many of which are easy for most homeowners to qualify for.

How do Farmers home insurance rates compare to the average in Virginia?

The average cost of Farmers home insurance in Virginia is $1,064 per year, which is 20% less than the state average of $1,277 and 64% less expensive than the national average annual premium of $1,754.

How to get a quote

Online through Farmers