Home Insurance in Cleveland, Virginia
Homes in Cleveland carry a median value of $61,800 - 49% lower than the Russell County median.
The typical home in Cleveland was built around 1966. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 38% of homes were built before 1960, about 18 points above Russell County's 19%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Cleveland is 65% single-family homes, 1% apartments in buildings with 5+ units and 6% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
In Cleveland, about 19% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 18%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 36% of occupied homes in Cleveland are owner-occupied.
Most homes in Cleveland - 96% - are primarily heated with electricity.
Russell County's top FEMA-rated hazard is earthquake (Very Low), per FEMA's National Risk Index. Russell County had 46 active NFIP flood policies as of September 2026. See the full Russell County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners 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 | $61,800 |
|---|---|
| Median year built | 1966 |
| Owner-occupied share | 36% |
| Share of owner-occupied homes with a mortgage | 19% |
| Top county hazard | Earthquake (Very Low) |
| Active NFIP policies in Russell County | 46 |
| 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)