Home Insurance in Chesapeake, Virginia
With a median home value of $378,400, Chesapeake is close to the Chesapeake city median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Chesapeake was built around 1989. About 10% of homes were built before 1960, in line with Chesapeake city (10%).
The housing stock in Chesapeake is 81% single-family homes, 12% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
75% of owner-occupied homes in Chesapeake carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 74% of occupied homes in Chesapeake are owner-occupied. The vacancy rate is 3%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Chesapeake - 54% - are primarily heated with electricity.
What's the biggest home insurance risk near Chesapeake? FEMA's National Risk Index points to hurricane (Relatively Moderate) in Chesapeake city and Chesapeake city had 7,158 active NFIP flood policies as of September 2026. See the full Chesapeake city home insurance overview for all FEMA hazard ratings and flood coverage details.
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 | $378,400 |
|---|---|
| Median year built | 1989 |
| Owner-occupied share | 74% |
| Share of owner-occupied homes with a mortgage | 75% |
| Top county hazard | Hurricane (Relatively Moderate) |
| Active NFIP policies in Chesapeake city | 7,158 |
| 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)