Home Insurance in Big Stone Gap, Virginia
Homes in Big Stone Gap carry a median value of $163,000 - 37% higher than the Wise County median.
The typical home in Big Stone Gap was built around 1968. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 42% of homes were built before 1960, about 17 points above Wise County's 25%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Big Stone Gap is 75% single-family homes, 2% apartments in buildings with 5+ units and 17% mobile or manufactured homes.
About 60% of owner-occupied homes in Big Stone Gap have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 19%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 63% of occupied homes in Big Stone Gap are owner-occupied.
In Big Stone Gap, 91% of homes are primarily heated with electricity.
FEMA rates Wise County's overall risk as Relatively Low, led by wildfire (Relatively Low). Wise County had 166 active NFIP flood policies as of September 2026. See the full Wise County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Virginia is $1,537 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $163,000 |
|---|---|
| Median year built | 1968 |
| Owner-occupied share | 63% |
| Share of owner-occupied homes with a mortgage | 60% |
| Top county hazard | Wildfire (Relatively Low) |
| Active NFIP policies in Wise County | 166 |
| 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)