Homeowners Insurance In Virginia For 2024

Despite an A+ (Superior) financial strength rating from AM Best, Nationwide has a low customer satisfaction rating, with policyholders leaving numerous negative reviews online. However, the company has a strong network of local agents in Virginia.

With Nationwide’s standard policy, you’ll enjoy unique benefits, such as coverage for credit card fraud and rebuilding to meet stricter building codes—coverage that many other insurers don’t provide.

Your policy can be customized with upgrades like Better Roof Replacement, which will pay for higher-quality roofing materials if they need to be replaced following a qualifying event.

Brand New Belongings offers replacement cost coverage for personal belongings. If your items are lost or damaged, Nationwide will reimburse their depreciated value, and once you purchase replacements, you can send in receipts for reimbursement of the price difference.

Farmers is not only highly rated for the perks it offers, but also for its strong “online experience,” as it thoroughly explains these perks and discounts to its current and prospective insureds. These perks include:

• Guaranteed Replacement Cost: Farmers ensures your home will be rebuilt at full cost, regardless of the expense.
• Claim Forgiveness: Once you’ve been claim-free for five years, Farmers won’t increase your premiums after a claim.
• Declining Deductible: Each year your policy is in place, you’ll earn $50 to reduce your deductible.
• Claim-Free Discount: Enjoy a discount on home insurance after being claim-free for three years.
• Multi-Policy Savings: Get up to 34% savings on your Farmers home insurance by bundling other policies.

The 9.3/10 overall rating for Farmers is partly due to its lower J.D. Power scores for policyholder service satisfaction.

We selected State Farm as the best overall option, thanks to its strong agent presence in Virginia, excellent customer satisfaction scores, and competitive premiums. Its high policyholder service ratings from J.D. Power are crucial, particularly given the extensive agent support and claims adjusters available after severe weather events like tornadoes.

State Farm offers a standard homeowners policy, but you can enhance it with extra coverage options tailored to your needs. This can include protection for rebuilding under new legal standards, identity theft, and coverage for valuables like jewelry or collectibles. State Farm also holds an A++ rating from AM Best, the highest in financial strength.

Getting a quote from State Farm starts online, but purchasing a policy will require working with a local agent. Customers can access their accounts through the website or mobile app, where they can also file claims and go paperless. The site also has a helpful resource library for learning more about insurance.

The cheapest home insurance in Virginia comes from Chubb, with an average annual cost of $1,362, making it $1,170 more affordable than the statewide average.

Chubb’s home insurance in Virginia comes at a great price without sacrificing coverage quality. Their policies are built for high-value homes, and they are recognized for their financial stability and exceptional service. In addition to low premiums, Chubb offers extended replacement cost coverage to repair or replace items regardless of depreciation.

Allstate provides a total of 11 discounts on home insurance, which is much higher than the industry average of seven. As a home insurance analyst, I find several of these discounts to be especially unique.

Allstate has discounts such as:

Claims forgiveness: Protects your rate from going up after you make a claim.
Claims-free: Get 5% back when renewing if you don’t file any claims each year.
Deductible reward: Save $100 on your deductible when you sign up.
Bundle: Bundle home and car insurance to save up to 25%.
Automatic payment: Up to 5% savings with automatic payments.
Loyalty: Earn up to 10% off for sticking with Allstate.
Home buyer: Discount for new homeowners.
New home: Discount for insuring a new build.
Responsible payment: Extra savings for paying on time.
Early payment: Save up to 10% when you buy a policy at least seven days before your old one ends.
Protective device: Discount for adding theft or fire protection systems.

Allstate offers nine optional types of homeowners insurance coverage, nearly double the industry standard of five. In addition to typical options like ID theft and scheduled personal property coverage, they offer a unique yard and garden insurance option, expanding coverage for landscaping and riding mowers.