Home Insurance in Wachapreague, Virginia
Homes in Wachapreague carry a median value of $205,800 - close to the Accomack County median.
The typical home in Wachapreague was built around 1944. About 75% of homes were built before 1960, about 47 points above Accomack County's 28%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
The housing stock in Wachapreague is 98% single-family homes and 2% mobile or manufactured homes.
About 33% of owner-occupied homes in Wachapreague have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 34%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 79% of occupied homes in Wachapreague are owner-occupied.
56% of homes in Wachapreague are primarily heated with electricity. Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Accomack County's overall risk as Relatively Moderate, led by coastal flooding (Very High). Accomack County had 2,847 active NFIP flood policies as of September 2026. See the full Accomack County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Virginia carries a statewide average premium of $1,537 per year.
Key figures
| Median home value | $205,800 |
|---|---|
| Median year built | 1944 |
| Owner-occupied share | 79% |
| Share of owner-occupied homes with a mortgage | 33% |
| Top county hazard | Coastal Flooding (Very High) |
| Active NFIP policies in Accomack County | 2,847 |
| Home insurance premium | $1,537 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)