When buying a home, there are a lot of important things on your mind. But while you’re considering which neighborhood you desire, whether or not the kids should share a bedroom, and how ambitious your DIY renos should be, don’t forget about homeowner’s insurance.
Just like finding the best house on the market, you want to find the best homeowner’s insurance in Virginia too. Here is your guide to all things homeowner’s insurance in The Old Dominion.
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The standard homeowner’s insurance policy is consistent throughout all 50 states. But in case this is your first time purchasing home insurance, or if you just need a refresher, we’re going to walk you through the basics of how standard home insurance works.
Each and every homeowner’s insurance policy will cover these four buckets:
The most common home insurance policies are HO2 and HO3 and they are a little bit different from one another. Here’s how:
All home insurance policies are designed to protect your finances if the worst happens. This means that if a covered peril damages your home or renders it unlivable, insurance will cover the repair/replacement and you won’t be stuck with the entire bill.
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Just because the standard policies are the same, that doesn’t mean everyone pays the same price for homeowners’ insurance.
The actual cost of homeowner’s insurance is dependent on the following factors:
Bearing in mind these stipulations, we can look at average to get an idea of what homeowners in Virginia can expect to pay for home insurance.
The average home insurance cost in Virginia is $887 per year for $250,000 worth of dwelling coverage.
This is fairly affordable, especially when compared against the national average of $1,428 for the same amount of coverage. But if you’re worried about the cost, keep reading for handy ways to save on home insurance.
Just because Virginians are likely to pay less than the rest of the country on homeowners’ insurance, that doesn’t mean that you shouldn’t still find ways to put more money back in your wallet.
If you want to find the cheapest homeowners’ insurance in Virginia, then you should consider these steps:
Not only will following this advice help you find affordable home insurance in Virginia, but they’ll also ensure you pick a quality policy that encompasses all your needs.
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A home in Virginia comes with access to the state’s stunning coastline and gorgeous mountain ranges. But, when you combine this natural environment with the current climate crisis, Virginia is susceptible to a lot of major weather events.
Your Virginia home is particularly vulnerable to tropical cyclones and connectives storms, as well as flooding.
Virginia homeowners should strongly consider purchasing the following additional coverages on their home insurance policy:
Speak to your insurance provider if you are interested in purchasing any of these additional coverages for a new or existing policy. They will cost you more, but can end up saving you big in the long run if your house is impacted by any of these perils.
ConsumerCoverage is passionate about educating consumers so that they can make smart choices on their insurance. Your first step to finding affordable home insurance quotes in Virginia should be to get access to free quotes here.
You’ll be able to find the right policy for your budget and coverage needs, so you can spend less time shopping for home insurance and more time doing what you love.
When it matters, we’ve got you covered.
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