Virginia Beach summers can be about as ideal as anywhere in the state, but its close proximity to the Atlantic Coast makes it susceptible to inclement weather conditions like heavy winds, rain, and the occasional tropical storm. For that reason, it's important to make sure that your homeowners insurance has you fully covered should the weather turn ugly.
The average cost of homeowners insurance in Virginia Beach is $1,947 per year, or $162 a month. That’s around 52% higher than the Virginia statewide average of $1,277 per year, and about 11% higher than the national average.
Compare the best cheap homeowners insurance companies in Virginia Beach
To find the best cheap homeowners insurance in Virginia Beach, Policygenius rated over a dozen of the largest insurance companies in Virginia across several categories, such as average policy cost, financial strength ratings with AM Best, customer and claims satisfaction scores with J.D. Power, available policy options, and more.
Company | Average monthly cost | Policygenius rating |
|---|---|---|
$105 | 4.8 out of 5 | |
$214 | 4.5 out of 5 | |
$131 | 4.5 out of 5 | |
$132 | 4.5 out of 5 | |
$230 | 4.4 out of 5 |
2024 Policygenius award winner
State Farm
4.8
Bundle home & auto
Offers extended replacement cost
All 50 states
Why we chose it
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 and cons
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
More details
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 Beach average?
The average cost of State Farm home insurance in Virginia Beach is $1,257 per year, which is 54% cheaper than the average city rate of $1,947 and a few dollars cheaper than the average state annual premium of $1,277.
How to get a quote
Online through State Farm
2024 Policygenius award winner
Erie
4.5
Mobile app
Bundle home & auto
Why we chose it
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 and cons
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
More details
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 Beach?
The average cost of Erie home insurance in Virginia Beach is $2,562 per year, which is 24% higher than the city average of $1,947 and 46% more expensive than the annual national average of $1,754.
How to get a quote
Online through Erie
2024 Policygenius award winner
Farmers
4.5
Offers extended replacement cost
Bundle home & auto
Smart home discounts
Why we chose it
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 and cons
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
More details
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 Beach?
The average cost of Farmers home insurance in Virginia Beach is $1,577 per year, which is 23% more than the state average of $1,277 and 23% less expensive than the city's average annual premium of $1,947.
How to get a quote
Online through Farmers
2024 Policygenius award winner
Nationwide
4.5
Bundle home & auto
Mobile app
New homebuyer discount
Offers extended replacement cost
Why we chose it
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 and cons
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
More details
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 Beach average?
The average cost of Nationwide home insurance in Virginia Beach is $1,584 per year, which is 23% less expensive than the city average of $1,947 and 9% more expensive than the annual national average of $1,754.
How to get a quote
Online through Policygenius or Nationwide
2024 Policygenius award winner
Allstate
4.4
Bundle home & auto
Smart home discounts
Why we chose it
Whether you’re looking for basic or comprehensive home insurance coverage, Allstate is a standout option. Airbnb hosts may benefit from Allstate coverage thanks HostAdvantage — its affordable short-term rental coverage that can be added to any policy.
Pros and cons
Pros
High-quality and flexible policy options
Numerous discounts and features that help you save
Below-average customer complaints
Cons
No longer sells home insurance policies in California
Below-average digital experience rating with J.D. Power
More details
Why we chose Allstate
Allstate is a great all-around company for its robust coverage options, strong financial strength, and its often affordable coverage.
In Virginia, we found that Allstate may not be the cheapest homeowners insurance coverage, but its lower-than-average premiums, high customer satisfaction ratings, and excellent coverage options make it the top choice for homeowners in Virginia. The company also offers a few discounts that will be easy for many people to qualify for, including discounts for setting up automatic payments, bundling policies, and signing up for coverage before your current policy expires.
How do Allstate home insurance rates compare to the Virginia Beach average?
The average cost of an Allstate home insurance policy in Virginia Beach is $2,757 per year, which is 29% higher than the city average of $1,947 per year.
How to get a quote
Online through Policygenius or Allstate, or by contacting a local Allstate agent.
Methodology & why you can trust our rates
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
How much is homeowners insurance in Virginia Beach?
The average cost of home insurance in Virginia Beach is $1,947 per year, or $162 a month, for a policy with $300,000 in dwelling coverage. This is around 52% more expensive than the average annual cost of $1,277 for homeowners insurance in Virginia, and about 11% higher than the national average.
Virginia Beach home insurance rates by ZIP code
Home insurance rates can vary substantially depending on which ZIP code your home is located in, as homes in certain Virginia Beach neighborhoods may be more prone to extreme weather damage or property crime than others.
To help you find out how much home insurance costs where you live, we calculated average home insurance rates by ZIP code in Virginia Beach.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
23464 | $1,799 | 41% |
23462 | $1,850 | 45% |
23456 | $2,028 | 59% |
23454 | $1,995 | 56% |
23452 | $1,923 | 51% |
23455 | $1,898 | 49% |
23451 | $2,052 | 61% |
23453 | $1,925 | 51% |
23457 | $2,035 | 59% |
23460 | $1,937 | 52% |
Cheapest ZIP codes for home insurance in Virginia Beach
With an average home insurance rate of $1,799 per year, the 23464 ZIP code is the most affordable area for home insurance in Virginia Beach.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
23464 | $1,799 | 41% |
23462 | $1,850 | 45% |
23455 | $1,898 | 49% |
23452 | $1,923 | 51% |
23453 | $1,925 | 51% |
23460 | $1,937 | 52% |
Most expensive areas for homeowners insurance in Virginia Beach
With an average annual premium of $2,052, the 23451 ZIP code is the most expensive ZIP code in Virginia Beach for home insurance. If you live one of these ZIP codes, your rates might be among the highest in the city.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
23451 | $2,052 | 61% |
23457 | $2,035 | 59% |
23456 | $2,028 | 59% |
23454 | $1,995 | 56% |
23459 | $1,967 | 54% |
23461 | $1,957 | 53% |
Learn more >> Home insurance rates by ZIP code
Virginia Beach home insurance costs by coverage amount
Along with your home's location, your homeowners insurance premiums are primarily based on how much dwelling coverage is in your policy. This is the centerpiece of your home insurance coverage, covering the cost to repair or rebuild your home after a covered disaster. Here are the average rates for home insurance by coverage amount.
Dwelling coverage limit | Average annual cost |
|---|---|
$100,000 | $899 |
$200,000 | $1,420 |
$300,000 | $1,947 |
$400,000 | $2,495 |
$500,000 | $3,099 |
Virginia Beach home insurance costs by deductible amount
Your home insurance deductible is the amount you’re responsible for paying on each claim before insurance kicks in to help cover the cost of repairing or replacing your property. A higher deductible means lower insurance premiums, but it also means you're responsible for paying more out of pocket when you file a claim.
Here are the average rates for home insurance by deductible amount.
Deductible | Average annual cost |
|---|---|
$500 | $3,391 |
$1,000 | $1,232 |
$2,000 | $1,103 |
Cheapest homeowners insurance companies in Virginia Beach
Based on our analysis, State Farm, Cincinnati Insurance, and Foremost are the three cheapest home insurance companies in Virginia Beach, with average premiums citywide ranging from $1,257 to $1,547 per year.
Company | Average annual cost |
|---|---|
$1,257 | |
$1,502 | |
$1,547 | |
$1,577 | |
$1,584 | |
$1,621 | |
$1,751 | |
Universal Property | $1,854 |
$2,033 | |
$2,218 | |
Donegal Insurance Group | $2,347 |
$2,562 | |
IAT Insurance Group | $2,749 |
$2,757 |
Cheapest home insurance in Virginia Beach if you have poor credit
A bad credit score does more than just cost you a few dollars in late payment fees — it can also make your auto and home insurance rates thousands of dollars higher. Here are the average insurance rates for homeowners with poor credit.
Company | Average annual cost |
|---|---|
Universal Property | $1,854 |
Chubb | $2,033 |
State Farm | $2,157 |
Nationwide | $2,186 |
Cincinnati Insurance | $2,237 |
Progressive | $2,510 |
Donegal Insurance Group | $2,541 |
Foremost | $2,780 |
Farm Bureau Insurance | $3,248 |
Farmers | $3,550 |
Allstate | $3,774 |
Erie | $5,414 |
IAT Insurance Group | $7,097 |
Auto-Owners Insurance | $17,681 |
Cheapest home insurance in Virginia Beach if you have an older home
Insurance carriers consider older homes to have a higher risk of damage or loss compared to newer homes since they're constructed with older and more difficult to replace materials. Additionally, certain structural components in older homes, like the roof or plumbing systems, may not be up to code. Here are the average insurance rates for homeowners with older homes.
Company | Average annual cost |
|---|---|
State Farm | $1,300 |
Foremost | $1,419 |
Cincinnati Insurance | $1,502 |
Nationwide | $1,591 |
Farm Bureau Insurance | $1,621 |
Progressive | $1,694 |
Farmers | $1,777 |
Chubb | $1,857 |
Universal Property | $2,031 |
Auto-Owners Insurance | $2,242 |
Donegal Insurance Group | $2,516 |
Allstate | $2,740 |
Erie | $2,989 |
IAT Insurance Group | $3,358 |
Cheapest homeowners insurance in Virginia Beach if you have a history of claims
Claims history is one of the biggest factors that insurance companies use when calculating your home insurance premiums. If you have multiple claims on your record, your insurer will likely view you as a risk for filing future claims and may charge you higher rates as a result. Here are the average rates for homeowners who have filed multiple claims.
Company | Average annual cost |
|---|---|
State Farm | $1,479 |
Farm Bureau Insurance | $1,937 |
Auto-Owners Insurance | $2,275 |
Progressive | $2,389 |
Cincinnati Insurance | $2,789 |
Universal Property | $3,040 |
Donegal Insurance Group | $3,104 |
Nationwide | $3,162 |
Farmers | $3,180 |
Foremost | $3,418 |
Allstate | $3,693 |
Chubb | $3,949 |
Erie | $4,291 |
IAT Insurance Group | $5,556 |
How to get homeowners insurance quotes in Virginia Beach
Here are the steps to take as you shop for homeowners insurance in Virginia Beach:
Frequently asked questions
Is homeowners insurance based on the value of a home?
Your homeowners insurance should be based on your home’s replacement cost, or the cost to rebuild it from the ground up — not its market value or purchase price.
What is hurricane insurance?
Hurricane insurance isn’t one thing, but rather the combination of policies that protect your home. This generally includes standard homeowners insurance, flood insurance, and possibly windstorm insurance if wind is otherwise excluded from your standard homeowners insurance policy.
What is flood insurance?
Flood insurance covers water damage to your home caused by flooding due to high tides, hurricanes, rain, and other natural flooding. This is not covered as a part of a standard homeowners policy, but is instead an add-on that expands your coverage.
