Home Insurance in Richmond County, Virginia
Homes in Richmond County carry a median value of $231,500 - 40% lower than the Virginia median.
The typical home in Richmond County was built around 1978. About 23% of homes were built before 1960, about 4 points above Virginia's 19%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Richmond County is 80% single-family homes, 7% apartments in buildings with 5+ units and 10% mobile or manufactured homes.
In Richmond County, about 57% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 75% of occupied homes in Richmond County are owner-occupied. The vacancy rate is 20%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Richmond County - 84% - are primarily heated with electricity. Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
The top hazards for Richmond County, per FEMA's National Risk Index, are hurricane (Relatively Low), coastal flooding (Relatively Low) and earthquake (Very Low). Standard homeowners policies exclude earthquake, so separate coverage is usually needed.
Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy. As of September 2026, Richmond County has 59 active NFIP flood policies on file.
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 | $231,500 |
|---|---|
| Median year built | 1978 |
| Owner-occupied share | 75% |
| Share of owner-occupied homes with a mortgage | 57% |
| Top hazards (FEMA National Risk Index) | Hurricane (Relatively Low), Coastal Flooding (Relatively Low), Earthquake (Very Low) |
| Active NFIP flood policies (county) | 59 |
| 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)