HomeInsuranceQts

Home Insurance in Virginia

Virginia's median home value is $383,700.

The typical home in Virginia was built around 1984. About 19% of homes were built before 1960. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.

In Virginia, the housing stock is 73% single-family homes, 19% apartments in buildings with 5+ units and 4% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.

About 67% of owner-occupied homes in Virginia have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.

About 67% of occupied homes in Virginia are owner-occupied. The vacancy rate is 9%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.

57% of homes in Virginia are primarily heated with electricity.

In Virginia, the statewide average premium for a standard HO-3 homeowners policy is $1,537 per year (NAIC, 2023 data).

Key figures

Median home value$383,700
Median year built1984
Owner-occupied share67%
Share of owner-occupied homes with a mortgage67%
Home insurance premium$1,537 - statewide average (NAIC, 2023 data)

Counties

Sources