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Mint Images/Getty Images May 10, 2022 Mandy Sleight has been a licensed insurance agent since 2005. She has three years of experience writing for insurance websites such as Bankrate, MoneyGeek and The Simple Dollar. Mandy writes about auto, homeowners, renters, life insurance, disability and supplemental insurance products. Angelica Leicht is an insurance editor on the Bankrate team. She is truly passionate about helping readers make well-informed decisions for their wallets, whether the goal is to find the right comprehensive auto policy or the best life insurance policy for their needs. Bankrate logo The Bankrate promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money. Our content is backed by LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you. We guide you throughout your search and help you understand your coverage options. We provide up-to-date, reliable market information to help you make confident decisions. We reduce industry jargon so you get the clearest form of information possible. All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first. Bankrate logo Editorial integrity
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Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate logo Insurance Disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. In Virginia Beach, VA, the average cost of home insurance is $1,700 annually for $250,000 in dwelling coverage. Home insurance costs are higher in the city than the , which is $924 per year for the same coverage. Being so close to the Atlantic Coast, Virginia Beach is , one factor that drives up homeowners insurance premiums in an area. Compare rates and save on home insurance today! Get quotes Close X This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare home insurance rates
Answer a few questions to see personalized rates from top carriers. Continue Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Quick Facts $382/year average savings through Bankrate 2 out of 3 homes are underinsured 1 out of every 20 insured homes makes a claim each year 100% of homes need insurance before getting a mortgage Bankrate See more providers in Choose from insurers in Show More Mortgage Leaving so soon Your custom quotes are just minutes away
Return to form This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare home insurance rates
Answer a few questions to see personalized rates from top carriers. Continue Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Quick Facts $382/year average savings through Bankrate 2 out of 3 homes are underinsured 1 out of every 20 insured homes makes a claim each year 100% of homes need insurance before getting a mortgage Bankrate See more providers in Choose from insurers in Show More Mortgage Leaving so soon Your custom quotes are just minutes away
Return to form In fact, Virginia is in the country. Wind and hail claims are also common after a hurricane and are the , followed by fire and lightning. To find the best home insurance companies in Virginia Beach, VA, we analyzed each company based on market share, financial strength, the average annual cost of home insurance and customer ratings based on third-party studies. Best home insurance companies in Virginia Beach
Below are the five of the best homeowners insurance companies in Virginia Beach. These rankings are based on the average cost of insurance, coverage and discount options, third-party rankings and financial strength, proving a company’s ability to pay out claims, even during a natural disaster like a hurricane. Home insurance company Bankrate Score Average annual premium for $250K dwelling coverage 4.7 $1,014 880/1,000 4.0 $1,067 892/1,000 4.3 $1,573 900/1,000 4.6 $1,664 869/1,000 3.9 $2,436 882/1,000 State Farm
Of the homeowners insurance companies on this list, State Farm offers the lowest average annual rates. This insurance company is also the largest home insurer in the nation, with 8.9% of direct premiums written, according to the Insurance Information Institute. While State Farm scored below the industry average in the J.D. Power 2021 U.S. Property Claims satisfaction survey, it has superior or better financial strength ratings to pay claims. With that include savings for bundling, home alert and impact-resistant roofing, State Farm may help Virginia Beach residents secure cheap homeowners insurance rates without sacrificing coverage. Learn more: Nationwide
Nationwide offers the second-lowest average premiums of the providers on this list, with the average rate just slightly higher than State Farm. In addition to standard coverage options, Nationwide offers replacement costs on the dwelling structure and personal belongings, plus coverage for high-value items and better roof replacement if the roof is damaged in a covered claim. Nationwide has above average ratings in two of the three J.D. Power studies, though it did come in a few points below average on the Home Insurance Study. The insurance company is also rated superior when it comes to financial strength to pay claims, but has a for 2021, which is slightly above average, according to the National Association of Insurance Commissioners (NAIC). Learn more: Auto-Owners
Though its name is Auto-Owners Insurance, this insurance company also offers home, life and business insurance products. Homeowners can build and customize their policies with , like homeowners plus and equipment breakdown coverage, which pays for electrical or mechanical failures of home appliances. Auto-Owners also ranked highly on the 2021 J.D.Power claims satisfaction study, with a score of 900 points out of 1,000. The insurance company is also rated as superior when it comes to financial strength to pay claims, and it has a when compared to similar-sized insurers, according to the NAIC. Learn more: Erie
Erie home insurance is only offered in 12 states and Washington, D.C., and Virginia is one of them. While a smaller insurance carrier, the company offers unique perks to customers. can take advantage of the true replacement cost coverage endorsement and higher limits on select coverages, like valuables and important documents. Identity recovery and service line protection is also available for underground service and utility lines that are not covered by the public utility. It’s worth noting, though, that Erie did not perform as well as the other insurers on this list when it comes to the J.D. Power Insurance Shopping Study, with a score of 869 out of 1,000 points for purchase experience. However, Erie earned a superior financial strength rating to pay claims, and has a with the NAIC. Learn more: Allstate
Allstate offers standard insurance coverage, specialty coverages, and numerous discount opportunities, like discounts for bundling homeowners insurance with auto and loyalty discounts. Homeowners who offer home-sharing services to renters may be able to take advantage of special coverage with Allstate. The company also offers an that may help keep home insurance rates low, even if you file a claim. Allstate’s financial strength ratings are stable, with superior or higher ratings to show the ability to pay future claims. However, the company was rated slightly below industry average on the 2021 J.D. Power Property Claims Satisfaction survey, scoring 882 out of 1,000 points. Learn more: Home insurance coverage options in Virginia Beach
Homeowners in Virginia Beach might want to consider the following coverage options when shopping for home insurance: Dwelling coverage: While standard dwelling coverage is included in all home policies, purchasing replacement cost coverage for your dwelling may be more expensive, but it ensures the cost to rebuild your home will be completely covered. Personal property: This coverage pays if your belongings are damaged or stolen. Some companies offer actual cash value, while others offer optional coverage for replacement cost. If you have valuable items, you may need to purchase additional coverage. Liability protection: Liability coverage protects you if you are sued for someone else’s injuries or property damage. Additional living expenses: If your home is damaged and you cannot live there while it is fixed, this coverage pays for living expenses like food, rent, laundry and other costs you may incur while staying elsewhere. Standard homeowners insurance does not cover floods. With a high likelihood of flooding from hurricanes and other storms, Virginia Beach residents may want to consider purchasing . Most offer flood insurance, or you can buy directly from the National Flood Insurance Program (NFIP). Home insurance discounts in Virginia Beach
Most home insurance companies offer discounts as a way to provide cheap insurance rates, which may help you get more affordable rates for home insurance in Virginia Beach. These are some of the more common discounts available: Claims-free: The longer you go without making a claim on your home insurance policy, the more you can potentially save each year at renewal. Home alert: A centrally-monitored burglar, fire or smoke alarm can keep your home protected and help reduce home insurance costs. Multi-policy: The home and auto bundle discount is often the most significant discount you can get on a homeowners insurance policy. It can also make things easier to have both policies with the same insurance company. New construction: If you purchase a new construction home or a home that was built within the last couple of years, you may qualify for a discount with your home insurance company. Gated community: If your property or neighborhood has a gated entrance, some insurance companies will offer discounts for homes in gated communities. Frequently asked questions
What is the best home insurance company
The is different for everyone and based on your unique needs. Consider shopping around to find the right coverage and discounts to get the best rates while still getting the coverage you need.
How much does home insurance in Virginia Beach cost
The in Virginia Beach is $1,700 per year for $250,000 in dwelling coverage. This is higher than the national average cost of home insurance, which is $1,383 per year. However, your home insurance costs will likely differ from the average, as there are numerous personal factors that may impact how much you pay for homeowners insurance, including the location, age of the home, condition, coverage amounts and types, and the discounts you qualify for. As such, your rates may be higher or lower depending on these factors.
How much home insurance do I need in Virginia Beach
Homeowners insurance is not a legal requirement in Virginia, but if you purchased your home with a mortgage loan, your lender will almost certainly require you to obtain a policy to protect your home. Generally speaking, the dwelling amount you purchase should cover the amount it would take to rebuild your home in today’s market, assuming it were a total loss. Insurance companies use tools to calculate the minimum amount you would need to rebuild in Virginia Beach, so consulting with a licensed insurance agent may be helpful for determining coverage needs. Methodology
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits: Coverage A, Dwelling: $250,000 Coverage B, Other Structures: $25,000 Coverage C, Personal Property: $125,000 Coverage D, Loss of Use: $50,000 Coverage E, Liability: $300,000 Coverage F, Medical Payments: $1,000 The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required). These are sample rates and should be used for comparative purposes only. Your quotes may be different. Rates are determined based on 2021 Quadrant Information Services data. SHARE: Mandy Sleight has been a licensed insurance agent since 2005. She has three years of experience writing for insurance websites such as Bankrate, MoneyGeek and The Simple Dollar. Mandy writes about auto, homeowners, renters, life insurance, disability and supplemental insurance products. Angelica Leicht is an insurance editor on the Bankrate team. She is truly passionate about helping readers make well-informed decisions for their wallets, whether the goal is to find the right comprehensive auto policy or the best life insurance policy for their needs. Related Articles