Whether you live in Richmond, Virginia Beach or elsewhere in the Old Dominion, purchasing insurance for your Virginia home is vital. Choosing the right home insurance provider involves balancing cost, coverage and customer satisfaction.
We at the Home Media reviews team have carefully researched and compared the best homeowners insurance companies. This guide covers our top picks for homeowners in Virginia, including the pros, cons, discounts, endorsements and ratings of each.
Homeowners insurance rates vary based on location, square footage and other factors. To get your personalized quote, use our free tool below.
Top 5 Homeowners Insurance Companies in Virginia of 2022
After in-depth research, we at the Home Media reviews team found these to be Virginia’s best homeowners insurance providers:
According to a 2022 survey by the National Association of Insurance Commissioners (NAIC), published by the Insurance Information Institute (III), the average cost of homeowners insurance in Virginia in 2019 was $1,080 a year ($90 a month), nearly $200 lower than the national average of $1,272.
Quotes found for standard coverage and a $5,000 deductible based on a family with kids living in a 2,200 square foot single-family home in Springfield, VA with fire and burglar alarms.
Lemonade Home Insurance
- Our rating: 4.39 out of 5
- AM Best rating: N/A
- J.D. Power score: N/A
Lemonade’s standout feature is its quick claims process. The Lemonade app uses AI technology to review claims; some are paid out seconds after filing. The company keeps a fixed percentage of its customers’ premiums as profit and donates the remainder to charity through its Giveback program.
Customers who prefer an all-digital experience will appreciate that Lemonade handles everything from quotes to claims via its mobile app. Other customers might miss the personal touch of working with an insurance agent. Lemonade’s extra coverage options are limited compared to those of other companies, and its home insurance is only available in 23 states.
Pros and Cons of Lemonade Home Insurance
Here’s what you can expect from Lemonade home insurance:
+ Quick claims process
+ Charitable business model
+ Robust mobile app
– Limited human customer service agents
– Few extra coverage options
Discounts
Lemonade offers discounts for bundling your home insurance with other Lemonade insurance products, paying your premium annually instead of monthly, and installing protective devices such as deadbolts and smoke alarms.
Endorsements
Homeowners can add the following endorsements to their policies: Extra Coverage (also known as scheduled property), Equipment Breakdown Coverage, water backup, buried utility, foundation water damage, extended reconstruction cost and swimming pool.
Get your personalized home insurance quote from Lemonade.
To learn more: Lemonade Home Insurance review
State Farm Home Insurance
Among the 21 home insurance companies ranked by J.D. Power in 2021, State Farm tied for third place with a score 10 points higher than the industry average. Other companies may offer more discounts, but State Farm’s rates often beat those of its competitors, and the discounts it does offer are generous. New homeowners who are unfamiliar with how home insurance works will appreciate State Farm’s friendly local agents and helpful online resources.
State Farm has agents across the country who operate as independent contractors, and customer service quality may vary. Many negative reviews come from customers who had a poor experience with a particular agent.
Pros and Cons of State Farm Home Insurance
Here are some positives and potential negatives of State Farm:
+ Personalized service through local agents
+ Competitive rates
+ User-friendly website packed with resources
– Limited discounts that vary by state
– Inconsistent customer service
Discounts
State Farm offers a discount for bundling your home and auto insurance, roofing discounts for certain impact-resistant materials, higher deductible savings and discounts for home security devices, such as fire, smoke and burglar alarms.
Endorsements
Homeowners can add the following endorsements to their State Farm policy, although availability may vary by state: HOA/condo loss assessment, identity restoration insurance, personal articles policy, flood or earthquake, full replacement cost coverage and home systems protection.
To get your personalized home insurance quote from State Farm, call 360-262-2561.
To learn more: State Farm Insurance review
Allstate Home Insurance
Customers who want to enhance their homeowners insurance with extended coverage endorsements will appreciate Allstate’s long list of options. Allstate also has nationwide availability and several ways to save on homeowners insurance.
Customer reviews on BBB, Trustpilot and similar sites give the impression that Allstate offers mediocre customer service. Although the company offers various discounts, its prices tend to be higher than those of its competitors.
*AM Best ratings are accurate as of September 2022.
Pros and Cons of Allstate Home Insurance
Here’s what homeowners can expect from Allstate:
+ Local agents across the nation
+ A variety of discounts
+ Extensive coverage options
– Higher-than-average prices, based on quotes we received from several providers
– Mediocre customer service as reported in online reviews
Discounts
Homeowners can save with multi-policy, responsible payment, claims-free, welcome, loyalty, new home buyer, Easy Pay Plan, protective device and early signing discounts.
Endorsements
You can add the following coverages to your homeowners insurance policy: identity theft restoration, water backup, scheduled personal property, yard and garden, business property, sports equipment, musical instruments, electronic data recovery and green improvement reimbursement.
Get your personalized home insurance quote from Allstate.
To learn more: Allstate Home Insurance review
Progressive Home Insurance
Progressive differs from other insurance providers on this list as it does not underwrite its home insurance policies. Instead, it allows you to bundle Progressive car insurance with homeowners insurance from one of its affiliates.
The upside to this model is that requesting a quote from Progressive allows you to easily compare rates from multiple companies. Progressive even offers a discount for bundling policies. The downside is that when you need to file a claim, you will have to do so through the company that underwrites your policy.
Pros and Cons of Progressive Home Insurance
Here’s what homeowners can expect from Progressive:
+ Option to bundle policies for a discount
+ Easy online quote comparison
+ Multiple home insurance partners to choose from
– Policies underwritten by third-party companies
– More complicated claims process
Discounts
Progressive offers discounts for bundling home and auto policies, getting a quote at least 10 days before the policy start date, purchasing a new home, switching from renters to homeowners insurance, insuring a brand new home, receiving documents by mail, paying in full up-front, and having safety features such as alarms, sprinklers and cameras.
Endorsements
Though they may vary by partner, available add-ons include water backup, personal injury and extra coverage for valuables.
Get your personalized home insurance quote from Progressive.
To learn more: Progressive Home Insurance review
Travelers Home Insurance
Travelers home insurance is our pick for deductible savings. It offers a decreasing deductible program that reduces your deductible by $100 each time you renew your policy, even if you filed a claim in the previous year. Further, customers can choose from nine deductible options ranging from $1,000 to $50,000, allowing them to tailor their policies to their budgets. Travelers is also a great pick for eco-friendly homeowners thanks to a green home endorsement and a green home discount.
Pros and Cons of Travelers Home Insurance
Here’s what homeowners can expect from Travelers:
+ Discount and add-on coverage for green home
+ Thorough online quoting system
+ Several deductible options
– No coverage for manufactured or mobile homes
– Below-average customer satisfaction ratings
Discounts
Homeowners can save on their Travelers insurance policy with multi-policy, protective device, early quote, home buyer, loss-free and green home discounts.
Endorsements
Travelers offers the following additional coverages: water backup and sump pump discharge/overflow, special personal property, jewelry and valuable items, identity fraud, green home, contents replacement, personal articles floater and additional replacement cost protection.
Get your personalized home insurance quote from Travelers.
To learn more: Travelers Insurance review
What Factors Affect Home Insurance Rates in Virginia?
Insurance companies base their rates on how likely you are to file a claim and how expensive that claim might be. Although companies may differ in how they weigh certain risks, they will generally take into account the following factors:
- Location: Because natural hazards and crime rates vary from one city or county to the next, so does risk. Similarly, the cost to repair or rebuild a home can vary drastically depending on where you live.
- Age: New or recently remodeled homes are generally less risky to insure due to better plumbing and electrical systems, construction materials and safety features. Older homes cost more to insure because they are more likely to sustain damage.
- Size and value: The bigger or more expensive your home, the more it will cost to repair or rebuild. Your insurance provider will charge a higher rate to compensate for this. Similarly, your rates may rise after a renovation or addition that changes your home’s value
- Roof condition: Not only are roofs expensive, but they also help protect the rest of your home from damage. Insurers will pay close attention to the age and condition of your roof when calculating your premium.
- Credit score: Customers with high credit scores generally receive better rates than customers with low credit scores. Like lenders, insurers use your credit history to get a sense of how high-risk you are.
- Claim history: Insurance companies look at how many previous claims you’ve filed to predict how likely you are to file a claim in the future. Fewer claims mean a lower rate. Some companies even offer a claim-free or loss-free discount for homeowners who have not filed a claim within the last few years.
- Safety features: Certain safety features can make your home a less attractive target for burglary or vandalism; they might also make it less likely to suffer fire, water or smoke damage. Many companies offer safety discounts for homes equipped with security systems, cameras, sprinklers, fire alarms, and gas or water leak detection devices.
- Discounts: Most home insurance companies offer discounts to help customers lower their insurance premiums. These can range from autopay and paperless discounts to multi-policy and loyalty discounts.
- Policy terms: The deductible, coverage limits and endorsements you choose will impact your annual premium. A higher deductible can lower your premium, and a lower deductible, higher limits and coverage add-ons will raise it.
Common Causes of Home Insurance Claims in Virginia
Virginia residents may experience several types of natural disasters, including floods, hurricanes, extreme temperatures and tornadoes. Many of these hazards correlate to the most common types of claims identified by the III.
With that in mind, here are a few common causes of home insurance claims in Virginia:
- Wind and hail: Homeowners in Virginia might experience this type of damage during a windstorm, severe thunderstorm, tornado or hurricane.
- Water damage and freezing: Floods, clogged drains, leaky pipes and septic tank overflow can all cause water damage. In the winter, extreme cold in Virginia can cause pipes to freeze and burst.
- Fire and lightning: In Virginia, severe thunderstorms, extreme heat and dry conditions contribute to the risk of fire and lightning damage.
The Bottom Line: Which Virginia Home Insurance Provider Is Best for You?
Our research ranks Allstate as Virginia’s top home insurance company, with State Farm as a close second. Both companies have a nationwide network of local agents. While Allstate offers more discounts and coverage options, State Farm’s prices are generally more competitive.
Lemonade, Travelers and Progressive are also great options. Finding the best homeowners insurance or the best renters insurance comes down to your personal needs and budget. We recommend getting quotes from at least three companies to compare your personal rates before making a decision.
Get instant insurance quotes by entering your ZIP code or calling 855-948-5219.
Methodology: Our System for Ranking the Best Home Insurance Companies
Our team surveyed dozens of home insurance providers and created a scoring system to judge each company’s quality and service. We reach out for sample quotes, both over the phone and on the internet, to simulate an authentic customer experience. Here are the factors that account for our provider reviews:
- Coverage (20%): We analyze each provider’s coverage options, policy endorsements and coverage limits to determine quality of coverage.
- Customer service (15%): We also evaluate each company’s customer service options such as live chat, a customer support phone line and access to agents.
- Technology (15%): Similarly, we score providers based on their digital resources, such as a mobile app, online comparison tools and quote process.
- Reputation (15%): We gauge reputation by evaluating consumer reviews and third-party financial strength and customer experience ratings.
- Additional benefits (15%): Additionally, we weighed each company’s added benefits, including discounts and policy endorsements.
- Cost (20%): Last, we compare cost data for homes across the nation to assess how competitively priced each provider is.
Companies with the best customer service exhibit 24/7 availability, educational resources on their website, useful digital tools and a seamless claims-filing process. Providers that offer extensive discount options, endorsements, customizable coverage options and unique features score significantly higher than those that don’t, putting them toward the top of our recommendations to readers.
AM Best Disclaimer
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.