Virginia home insurance

Every figure below is sourced and dated. Estimates only — not quotes, and not offers of coverage.

Home insurance premium estimator

What homeowners insurance costs in your state, and whether what you pay is out of line.

Is your dwelling coverage actually enough to rebuild — and what a shortfall costs at claim time.

What a higher deductible really saves, how long it takes to pay off, and what a storm deductible actually costs.

Did your renewal go up more than premiums did across your state — and what to do about it.

All six limits on your policy against what the standard form and regulators say to expect — including the liability limit nobody looks at.

Average premium: $1,858/ yr; At $300,000 of dwelling coverage.
Standard deductible: $1,000; Applies to everyday claims.
Storm deductible — separate, and much larger: $6,000(2% of coverage); What you would pay out of pocket on $300,000 of coverage before a storm claim pays anything — not the $1,000 above.
Insurer of last resort: Virginia Property Insurance Association; Virginia's FAIR plan, operating since 1968 for owners who cannot obtain coverage in the voluntary market. The state's own consumer guide describes it as limited insurance protection and a last resort, because the premium is generally higher and the coverage frequently narrower than a private policy. The base policy is named-peril: fire, lightning, removal, hail, explosion, riot, smoke, vandalism and malicious mischief, with glass breakage NOT included. A broader form covering additional causes of loss, including glass breakage, is available to eligible properties, and liability and theft coverage can be added only if the property qualifies. The property must be in Virginia, must meet minimum underwriting standards including a physical inspection, and must have been declined by private carriers. Flood is not covered and must be bought separately through the NFIP or a private carrier. When a Virginia insurer nonrenews a homeowners policy it is required by law to tell the policyholder both about the right to appeal to the Insurance Commissioner and about possible VPIA eligibility.