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Home Insurance and Car Insurance in Virginia
It’s important to know what to look for when shopping for home and auto insurance in Virginia. The best balance of coverage and affordability often comes from comparison shopping. SelectQuote helps Virginia homeowners and drivers find insurance coverage to meet their needs by comparing rates from several companies at once.And for those who choose to bundle their coverage? Their savings can be even higher.Homeowners Insurance in Virginia
Virginia home insurance rates are moderately lower compared to other states. For some homeowners, however, close proximity to the Chesapeake Bay and Atlantic Ocean—thus putting your home at risk of flooding and damage due to heavy winds and storm surges in hurricanes—may complicate the decisions around buying home insurance.
Homeowners Insurance Coverage Options in Virginia
When buying home insurance in Virginia, you’ll have access to many of the standard coverages available as part of a traditional homeowners insurance policy. One item you’ll want to pay close attention to is whether your policy provides full replacement value or actual cash value; the former ignores depreciation when it comes to rebuilding your home after a covered loss. Actual cash value claims include depreciation as part of the claim resolution process, meaning you may receive less than what it would take to fully replace everything.Common types of home insurance included in most policies in Virginia include:- Dwelling coverage that works to pay for the actual structure of your home, including walls and roof.
- Property damage coverage that can replace your personal property including furniture. Coverage may even extend to items stolen or damaged outside of your home.
- Liability protection offers you defense and protection against lawsuits if a person is injured on your property. It can also protect you in the event of property damage
- Other structures coverage can help pay for repairs or replacement for structural damage on your property that isn’t attached to your home, such as a detached garage or shed.
- Guest medical protection coverage can pay for qualified medical expenses if someone is injured on your property.
- Additional living expenses protection helps cover costs associated with daily living if your home is rendered uninhabitable by a covered loss. This includes meals, lodging and laundry services.
Common Causes of Loss in Virginia
Because Virginia is a coastal state, homes are particularly susceptible to damage from hurricanes, storm surges, and flooding. In fact, nearly 2.3 million acres of land in the state are declared Special Flood Zone Areas.Additional Coverage Options Recommended for Virginia Homeowners
In addition to the regular home insurance inclusions, Virginians might want to shop for additional coverage, including:- Flood insurance, which is not typically offered as a standard component of a homeowners policy. If you live in a flood-prone area, it may make sense to buy additional flood protection from either your insurance company or as part of the National Flood Insurance Program (NFIP).
- Mobile home coverage, which is different from traditional home insurance policies because these types of homes are at an increased risk for damage due to fire or severe weather.
- Windstorm insurance, which offers additional coverage in the event that your home is damaged by a hurricane. Windstorm deductibles are often separate from your dwelling deductible if the storm is named by the National Hurricane Center.
- Water backup damage, which can help pay for costs associated with backed up sewer and drain lines not commonly covered under regular home insurance policies.
- Extended replacement cost coverage, which can help pay for damage that may require repairs and reconstruction costs beyond what your regular insurance coverage offers. In most cases, this is a percentage above your dwelling coverage limit.
Our Home Insurance Partners in Virginia
SelectQuote partners with trusted home and auto insurance companies in several states, including Virginia, to provide you with quotes for coverage. Because we shop for insurance with several insurance carriers at once, we’re able to compare rates and discounts and find you affordable insurance coverage to meet your needs.What is the average home insurance cost in Virginia?
The average home insurance cost in Virginia depends on several factors like your credit score, claims history and the age and condition of your home. You may also pay more depending on your ZIP code. The average monthly home insurance rates in Virginia for SelectQuote customers are $107.42.+Homeowners Insurance Discounts in Virginia
Home insurance companies in Virginia offer discounts to their customers for a variety of reasons. You may be eligible for discounted home insurance coverage based on several factors, including the length of time you’ve been a policyholder, installation of a home security system, having a higher deductible, filing few to zero claims over the past few years, and—perhaps most importantly—bundling your home and auto coverage together for maximum savings.Bundle Your Home and Auto Insurance to Save Money
Bundling your home and auto insurance coverage is one of the smartest ways to receive discounts on your coverage. In addition to savings, you’ll often be able to combine your insurance coverage into one easy-to-manage bill and policy document.Average Home and Auto Insurance Rates in Virginia
The average home and auto insurance rates referenced below are calculated using the premiums paid by actual SelectQuote customers in select Virginia cities. Rates will vary based on location, age of your home or vehicle, and other factors.| City | Avg. Monthly Home Insurance Rate | Avg. Monthly Auto Insurance Rate | Avg. Monthly Rate of Bundled Policies |
| Alexandria | $109.95 | $112.87 | $189.41 |
| Arlington | $89.57 | $148.92 | $153.29 |
| Fredericksburg | $95.72 | $149.29 | $227.83 |
| Richmond | $85.12 | $183.89 | $191.99 |
| Woodbridge | $83.83 | $177.42 | $231.52 |
Average monthly rates are from effective SelectQuote customer policies between 4/1/2022 and 3/31/2023.
Auto Insurance in Virginia
Car and truck ownership in Virginia varies by locality, but in 2021, over 5.9 million drivers were licensed to drive in the commonwealth and over 2.9 million cars were on the road.1,2 Each one of those drivers and vehicles has something in common: a need to be insured. SelectQuote helps Virginia drivers find affordable auto insurance that meets minimum legal requirements and additional coverage for full vehicle protection.Virginia Auto Insurance Laws and Requirements
Virginia requires drivers to either carry a minimum legal amount of auto insurance coverage or pay a $500 fine each year for having a vehicle uninsured.3 By not having insurance, you open yourself up to the potential for costly lawsuits and financial hardship in the aftermath of an accident. Even if you’re not at fault in a car accident, the decision not to carry auto insurance could cost you tens of thousands of dollars.At a minimum, Virginia requires you to carry bodily injury liability coverage to help cover the costs of injuries or funeral expenses of people injured in an accident where you are at fault. It also requires you to have property damage liability coverage to help pay for damage to other people’s property. Finally, you must also have uninsured and underinsured motorist coverage, which can help pay for your expenses after an accident with a hit-and-run driver or a driver who does not have adequate insurance.All data on average expenditures is provided by the Insurance Information Institute.| Type of Insurance Coverage | Minimum Coverage Limit |
| Bodily injury liability coverage |
|
| Uninsured/underinsured motorist coverage |
|
| Collision coverage | Not required |
| Comprehensive coverage | Not required |
| Medical expense coverage | Not required |
| Loss of income benefits coverage | Not required |
| Rental coverage | Not required |
| Towing coverage | Not required |
Other types of insurance available for purchase include:
- Collision coverage, which pays for damage to your vehicle in a collision with another driver or object.
- Comprehensive coverage, which pays for damage to your vehicle when damaged by a falling object, storm, fire or when the vehicle is stolen.
- Medical expenses coverage helps pay for additional medical expenses incurred for you or others who are injured or killed in an accident while in your vehicle.
- Loss of income benefits coverage can help provide additional money if income is lost as a result of your car accident.
- Rental coverage helps pay the cost of a rental while your car is undergoing repairs.
- Towing insurance helps pay the cost of having your vehicle towed to a repair shop after an accident.
Virginia Teen Driving Laws
Virginia requires teen drivers under the age of 18 to hold a learner’s permit, which they can apply for at the age of 15, for nine months and complete a state-approved driver’s education program.4 Parents, guardians or foster parents must provide their driver’s license or ID number and sign the certificate attesting to completion of the program. Teen drivers must drive for 45 hours (25 of those hours occuring after sunset).Until the age of 18, Virginia licenses are provisional5 and allow the driver to drive unsupervised between the hours of 4 a.m. to midnight, with exceptions for work, school or religious activities. Teen drivers can only carry one passenger under 21 years of age for the first year. They must also abstain from mobile phone use.Virginia Car Registration Information
Virginia requires all vehicles used on the road to be registered. Registration requires proof of ownership and an annual safety inspection. All drivers must also prove that the vehicle is insured with the minimum legal coverage or pay the annual uninsured vehicle fee of $500.6What is the average car insurance cost in Virginia?
The average cost of car insurance in Virginia varies based on several factors, including ZIP code, make and model of vehicle, your driving history and your credit score. Car insurance rates for SelectQuote customers in Virginia average out to $153.45 per month.+Our Auto Insurance Partners in Virginia
SelectQuote partners with some of the most trusted home and auto insurance companies in Virginia to offer you affordable coverage. We compare quotes—including discounts—from several carriers at once and pass the savings along to you.Virginia Home and Auto Insurance Frequently Asked Questions
Some of the most common questions related to buying home and auto insurance in Virginia can be found below.How should I shop for insurance in Virginia?
How should I shop for homeowners insurance in Virginia?
- Shop for home insurance by taking an inventory of your home, including its current value and your personal property.
- Factor in what it would cost to replace everything and rebuild your home. If full replacement is a priority, look for quotes for insurance policies that offer total replacement value as opposed to cash value.
- Don’t forget to ask for discounts, including savings if you bundle your home and auto policies together.
How should I shop for auto insurance in Virginia?- When shopping for auto insurance in Virginia, consider that minimum coverage may not be enough to protect you from financial loss after an accident.
- The cheapest car insurance may not offer the best customer service, either.
- Compare rates from several insurance companies at one time and play with different limits to see how it impacts your rates and level of protection.
- Don’t forget to ask about available discounts for safe driving or for bundling your home and auto coverage together.
- When shopping for auto insurance in Virginia, consider that minimum coverage may not be enough to protect you from financial loss after an accident.
- The cheapest car insurance may not offer the best customer service, either.
- Compare rates from several insurance companies at one time and play with different limits to see how it impacts your rates and level of protection.
- Don’t forget to ask about available discounts for safe driving or for bundling your home and auto coverage together.
Do I need earthquake insurance in Virginia?
Standard homeowners insurance policies do not cover earthquakes as a named peril. Earthquakes aren’t a typical hazard in Virginia, although minor ones have been known to happen. The most recent major earthquake in Virginia occurred in 2011. If you’re worried about damage to your home from an earthquake, you may want to consider insurance coverage specific to earthquake damage.
Do I need motorcycle insurance in Virginia?
Motorcycle insurance in Virginia has minimum levels of coverage, but it’s not technically required that you purchase it. Instead, you may choose to pay an “uninsured motor vehicle fee” of $500 per year. Given that motorcycle insurance usually costs less than that per year—even for the minimum level of coverage—it makes sense to buy insurance to protect you from financial liabilities if you injure someone or damage their property in a bike crash.
Does Virginia require boat insurance?
While you’re not legally required to purchase boat insurance in Virginia, it’s a good idea to shop for a boat policy. In addition to protecting you from liability if you or your boat cause an injury or property damage, you can get affordable coverage that can help pay for damage to your own watercraft in the event of a storm or collision with a dock. In addition, many marinas require you to carry at least some form of insurance prior to storage.
SelectQuote Can Shop Virginia Home or Auto Insurance to Help Save You Time and Money
If you’ve a first-time insurance shopper or are simply looking for ways to save on your home and auto insurance coverage, contact SelectQuote today. We can help you save time and money by shopping with several insurance companies at once, comparing rates and coverage to find the right policies for your needs.Sources- https://www.statista.com
- https://www.statista.com
- https://www.scc.virginia.gov
- https://www.dmv.virginia.gov/drivers/#ed_reqs.asp
- https://www.drivinglaws.org/resources/virginia-teen-driving.html
- https://www.dmv.virginia.gov/vehicles/#vehiclereg.asp
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