Home Insurance in Covington city, Virginia
With a median home value of $83,500, Covington city is 78% lower than the Virginia median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Covington city was built around 1951. About 63% of homes were built before 1960, about 44 points above Virginia's 19%.
In Covington city, the housing stock is 83% single-family homes, 4% apartments in buildings with 5+ units and 6% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
44% of owner-occupied homes in Covington city carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 70% of occupied homes in Covington city are owner-occupied. The vacancy rate is 15%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
54% of homes in Covington city are primarily heated with electricity.
FEMA's National Risk Index lists strong wind (Relatively Moderate), hurricane (Very Low) and earthquake (Very Low) as the leading hazards for Covington city. Standard homeowners policies exclude earthquake, so separate coverage is usually needed.
Covington city had 66 active National Flood Insurance Program policies as of September 2026. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood 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 | $83,500 |
|---|---|
| Median year built | 1951 |
| Owner-occupied share | 70% |
| Share of owner-occupied homes with a mortgage | 44% |
| Top hazards (FEMA National Risk Index) | Strong Wind (Relatively Moderate), Hurricane (Very Low), Earthquake (Very Low) |
| Active NFIP flood policies (county) | 66 |
| Home insurance premium | $1,537 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- 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)