Best homeowners insurance in West Virginia of 2022
If you own a home in West Virginia, protecting your finances with a homeowners insurance policy is considered a smart financial decision. The average cost of homeowners insurance in West Virginia is $1,124 per year, or about $94 per month, for $250,000 in dwelling coverage, according to Bankrate’s 2022 study of annual quoted premiums.
Finding the best West Virginia homeowners insurance can feel overwhelming with so many options to choose from, especially if you are a first-time homebuyer. Bankrate’s insurance editorial team has researched the largest home insurance carriers in the Mountain State and analyzed several facets of each company to help you find the best homeowners insurance in West Virginia.
Best homeowners insurance companies in West Virginia
Choosing a home insurance company is a significant decision and the company you select will ultimately depend on the type of home you have, the types and levels of coverage you need and your preferences for insurer qualities. To help give you an encompassing view of West Virginia home insurance companies, we took several factors into consideration, including customer satisfaction, rates, discounts, availability, coverage options and digital insurance experience. Any combination of these factors may help you find a policy that adequately protects your finances from home damage, while also fitting into your budget and lifestyle.
If you are in the market for a West Virginia home insurance policy, the following providers offer robust coverage at competitive prices, compared to other insurers in the state:
|Home insurance company||Average annual premium for $250K in dwelling coverage||J.D. Power score|
*Not officially ranked by J.D. Power due to eligibility restrictions
Allstate offers West Virginia homeowners insurance at well below-average rates. On top of that, the company has numerous optional forms of coverage you might find useful, like yard and garden coverage, electronic data recovery, sports equipment coverage and business property coverage. You might also be able to lower your premium with Allstate discounts, including savings for new homebuyers, responsible payers and loyal customers. Allstate received the lowest J.D. Power customer satisfaction score on our list, although the company is still rated above average for the industry. If customer service is your priority, another insurer may be worth considering.
Learn more: Allstate Insurance review
Erie may not be the most recognizable company on our list since it only offers coverage in 12 states, including West Virginia. However, the company has earned a positive reputation for its competitive rates and exceptional customer service. In fact, Erie has the highest official J.D. Power score on our list. Erie offers several optional endorsements, including water backup, service line coverage and identity recovery to help you tailor your coverage. The company has 13,000 agents in the states in which it operates, providing personalized, local service. Erie’s average premium is just above the state average rate for homeowners in West Virginia, so it may not be the cheapest option for you.
Learn more: Erie Insurance review
Founded in 1922, State Farm has helped American families with personal and business insurance for almost 100 years as one of the leading insurers in the nation, and is the top home insurance provider in West Virginia, based on our study. The company offers plenty of coverage options and a few discounts, but State Farm particularly stands out for its partnership with Ting. State Farm and Ting offer a free device to eligible homeowners that will monitor your electrical system and alert you to problems before they cause house fires. That said, State Farm does have the highest average annual premium on our list, so it may not be the best provider for homeowners on a tight budget.
Learn more: State Farm Insurance review
USAA could be one of the best home insurance options available if you are a military member, veteran or qualifying family member. Coverage isn’t available to everyone, but for those who do qualify, USAA could be worth the quote. The provider earns the highest customer satisfaction score in the J.D. Power study, although it is not eligible for official ranking due to its membership restrictions. USAA offers a few optional coverage types, including home sharing coverage, which may be helpful if you rent your home temporarily while you are deployed or in training. USAA does not advertise many discounts on its website, but if you remain claims-free or install a security system, you might save money on your home insurance.
Learn more: USAA Insurance review
Westfield is small compared to some of the others on the list, with personal insurance only offered in just 10 states. However, Westfield has received excellent financial strength ratings from AM Best since the company began in 1934. Although the company was not rated in the J.D. Power study, Westfield has a low customer complaint index with the National Association of Insurance Commissioners (NAIC), indicating that a lower-than-average number of complaints are filed about its service. Even with fewer discounts than the larger companies, Westfield still has the lowest average premium on our list.
Learn more: Westfield Insurance review
How much is homeowners insurance in West Virginia?
West Virginia homeowners pay an average of $1,124 per year for home for $250,000 in dwelling coverage, which is lower than the national average of $1,312 per year. The average cost for home insurance is a bit higher in West Virginia than it is in neighboring states. For example, homeowners in Virginia pay an average of $1,013 per year and Ohio’s average premium is $1,111 annually for the same levels of coverage.
West Virginia’s slightly higher rates may be partly due to the state’s weather. West Virginia is prone to severe weather in all seasons. Weather events such as lightning, wind, hail and freezing temperatures continue to be some of the biggest causes of damage, which can drive up insurance costs for the area.
Home insurance in West Virginia
When shopping for the best homeowners insurance in West Virginia, it can be beneficial to understand the common cause of losses in the state and choose coverage to protect your finances against these threats.
Common causes of loss in West Virginia
Understanding the common causes of damage in West Virginia can help you choose appropriate coverage when speaking with an agent or obtaining a quote, and provide peace of mind knowing your policy will be tailored to risks in your area. Some common causes of loss in West Virginia include:
- Wind and hail damage: Although tornadoes are relatively uncommon in West Virginia, strong summer storms happen frequently. Wind and hail can damage your roof, siding and windows, which can lead to interior damage. Lightning that comes with severe storms can cause power outages and lead to food spoilage.
- Water damage: Water can damage your home in a number of ways, including leaks from damaged roofs, leaks from burst pipes or water backup into a sewer or drain line. Water damage can rapidly become very expensive, so preparing for the ways it can damage your home is important for your financial wellbeing.
- Fire damage: It may surprise you to learn that wildfires in West Virginia are not uncommon. The state recorded 1,230 wildfires, which burned over 8,000 acres, in 2020 (the most recent year with available data). In addition to wildfires, fires from electrical systems, cooking and accidents can all damage or destroy your home.
- Flooding: West Virginia homeowners should be aware that many counties in the state are at a higher-than-average risk for flood damage. Flood damage can be catastrophic. In fact, just one inch of floodwater in your home can cause $25,000 in damage, according to the Federal Emergency Management Agency (FEMA). The agency’s cost of flooding tool can help you determine how much a flood event could cost you and help you make an informed decision about purchasing flood insurance (commonly excluded from standard homeowners policies).
Although understanding the common causes of damage in your state is helpful, you should know that these risks can vary even by ZIP code. Knowing the common causes of loss in your specific area might help you choose appropriate coverage for your home.
Home insurance coverage options in West Virginia
Homeowner insurance policies consist of several different coverage types. Some are included in a basic policy — like dwelling, personal property and liability coverage — while others are considered optional or add-on coverage. To make sure your property is protected, you may want to consider these coverage types if you own a home in West Virginia:
- Roof replacement cost: With wind and hail so common in West Virginia, roof structure can become compromised. If you qualify for it, roof replacement cost coverage is designed to pay out for the cost to replace your damaged or destroyed roof, rather than having depreciation removed from your settlement.
- Water backup coverage: This is a relatively common endorsement that is designed to pay for the damage to your home and property when water backs up in a sewer or drain line. This is most likely to occur in below-grade areas like basements or crawl spaces, but can happen from any drain line.
- Wildfire coverage: Most homeowners policies cover damage caused by wildfires automatically. However, if you are in a particularly high-risk area, you may need a separate policy.
- Flood insurance: Flood damage is not covered by standard homeowners policies. Knowing how expensive floods can be and how high-risk many areas of West Virginia are, considering a flood insurance policy might be a good idea.
Working with a licensed West Virginia insurance agent might be helpful. An agent can listen to your specific situation and help you choose coverage that is right for you, your area and your budget.
Frequently asked questions
Do I need home insurance in West Virginia?
West Virginia does not legally mandate that you buy home insurance, but if you have a mortgage or home loan, your lender likely requires you to carry a policy as part of your financing agreement. If you own your home outright, you may not be required to carry a policy. However, most financial planning experts and insurance agents recommend that you buy a policy to protect your finances from a catastrophic loss. Unless you have enough money to comfortably afford to repair or rebuild your home after damage, a home insurance policy is an recommended financial safeguard.
What is the cheapest homeowners insurance in West Virginia?
The cheapest home insurance for you will depend on your individual rating factors. Your policy cost depends on a variety of factors such as the age of your dwelling, where you live in the state and how much coverage you require. Getting quotes from several companies for the same coverage can be a good way to find the coverage you need at a lower price.
How do I get homeowners insurance in West Virginia?
You can visit a carrier’s website to begin the quoting process or you might need to call a company or visit a local agency. You will need some information about your home, like the year it was built, how old the roof is and any information about updates or custom features. Once you have decided to buy a policy from a company, you may need to sign an application and make a payment.
Does my home insurance cover landslides, mudflows and mudslides?
Landslides or similar occurrences are typically not covered automatically by homeowners insurance. It is important to understand that these are all separate perils, although they can be similar in nature. Landslides happen when the ground is destabilized and shifts. Landslides are considered “earth movement,” which is excluded by standard homeowners insurance policies, but may be covered by purchasing a type of policy called “Difference in Conditions” (DIC).
Mudflows are essentially a flowing river of mixed earth and water, and may be covered by flood insurance or by a DIC policy. Mudslides, on the other hand, happen when earth and rock shift downhill due to gravity and are not generally covered by any insurance policy.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.