Best home insurance company for customer satisfaction
Erie
3.1 Bankrate ScoreExplore Bankrate's review
- J.D. Power:
- 827 /1,000
- AM Best:
- A +
- Avg. annual premium for 250k dwelling
- $ 790
Explore Bankrate's review
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation of . Our content is backed by Coverage.com LLC, a licensed entity (NPN: 19966249). For more information, please see our
Virginia homeowners have a number of options when it comes to purchasing home insurance. But there isn’t one home insurance provider that is the best for everyone. For some, the best homeowners insurance in Virginia has the cheapest rates, and for others, the best carrier has the most coverage options. To help you choose a Virginia home insurance carrier that meets your needs, Bankrate compared some of the largest providers in the state by market share and analyzed average rate data to find well-rounded providers with affordable premiums.
Based on Bankrate's review of average annual premiums, third-party scores from the J.D. Power 2022 U.S. Home Study and other important metrics, the best Virginia homeowners insurance companies are Erie, Chubb and Mercury. These companies stand out for their excellent financial strength, good coverage options and generous discounts. In addition, Erie and Mercury have average rates below the statewide average premium of $924 per year for a policy with $250,000 in dwelling coverage.
In the table below, you can see which providers stand out as some of the best Virginia home insurance companies, as well as their Bankrate Scores, third-party ratings and average annual premiums:
Insurance company | J.D. Power | AM Best | Average monthly premium | Average annual premium | |
---|---|---|---|---|---|
Erie
3.1
Bankrate Score
|
J.D. Power
827
/1,000 |
AM Best
A+
(Superior)
|
Average monthly premium
$66
|
Average annual premium
$790
|
Get a quote |
Chubb
3.5
Bankrate Score
|
J.D. Power
809
/1,000 |
AM Best
A++
(Superior)
|
Average monthly premium
$94
|
Average annual premium
$1,128
|
Get a quote |
Mercury
2.6
Bankrate Score
|
J.D. Power
Not rated |
AM Best
A
(Excellent)
|
Average monthly premium
$50
|
Average annual premium
$600
|
Get a quote |
ASI Progressive
2.8
Bankrate Score
|
J.D. Power
801
/1,000 |
AM Best
A+
(Superior)
|
Average monthly premium
$64
|
Average annual premium
$767
|
Get a quote |
Travelers
3.3
Bankrate Score
|
J.D. Power
794
/1,000 |
AM Best
A++
(Superior)
|
Average monthly premium
$53
|
Average annual premium
$637
|
Get a quote |
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
*Average rates are for annual policies with $250,000 in dwelling coverage
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Although average insurance rates in Virginia land on the lower end of the spectrum compared to the rest of the country, homeowners have several considerations to make when purchasing coverage. One significant factor is Virginia’s proximity to numerous bodies of water, including the Atlantic Ocean, Chesapeake Bay and several rivers across the commonwealth, making certain types of property claims more likely.
Homes in Virginia are more likely to get damaged from severe weather events, including tropical cyclones and convective storms, and flooding, than many other states. The state is also prone to significant winter weather hazards, including ice storms.
Outside of the standard home insurance coverage types, Virginia homeowners may particularly benefit from endorsements or separate policies that account for the state’s storm-prone damages.