Home Insurance in Hopewell, Virginia
With a median home value of $181,600, Hopewell is close to the Hopewell city median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Hopewell was built around 1972. About 33% of homes were built before 1960, in line with Hopewell city (33%).
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Hopewell is 74% single-family homes, 14% apartments in buildings with 5+ units and 3% mobile or manufactured homes.
In Hopewell, about 65% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 11%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 58% of occupied homes in Hopewell are owner-occupied.
74% of homes in Hopewell are primarily heated with electricity.
What's the biggest home insurance risk near Hopewell? FEMA's National Risk Index points to hurricane (Relatively Low) in Hopewell city and Hopewell city had 28 active NFIP flood policies as of September 2026. See the full Hopewell 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 | $181,600 |
|---|---|
| Median year built | 1972 |
| Owner-occupied share | 58% |
| Share of owner-occupied homes with a mortgage | 65% |
| Top county hazard | Hurricane (Relatively Low) |
| Active NFIP policies in Hopewell city | 28 |
| 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)