Home Insurance in Petersburg city, Virginia
With a median home value of $189,000, Petersburg city is 51% 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 Petersburg city was built around 1970. About 38% of homes were built before 1960, about 19 points above Virginia's 19%.
In Petersburg city, the housing stock is 54% single-family homes, 26% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
In Petersburg city, about 65% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Petersburg city has an owner-occupancy rate of 39% and a vacancy rate of 16%; unoccupied homes typically need a different coverage form.
67% of homes in Petersburg city are primarily heated with electricity.
The top hazards for Petersburg city, per FEMA's National Risk Index, are hurricane (Relatively Low), earthquake (Relatively Low) and winter weather (Relatively Low). Standard homeowners policies exclude earthquake, so separate coverage is usually needed.
As of September 2026, Petersburg city has 139 active NFIP flood insurance policies. 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 | $189,000 |
|---|---|
| Median year built | 1970 |
| Owner-occupied share | 39% |
| Share of owner-occupied homes with a mortgage | 65% |
| Top hazards (FEMA National Risk Index) | Hurricane (Relatively Low), Earthquake (Relatively Low), Winter Weather (Relatively Low) |
| Active NFIP flood policies (county) | 139 |
| Home insurance premium | $1,537 - statewide average (NAIC, 2023 data) |
Towns and cities
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)