Chubb, Allstate and Nationwide are Virginia's best affordable renters insurance companies. Allstate offers the lowest rates at $23 monthly. Chubb leads in customer satisfaction, while Nationwide provides the most comprehensive coverage options.
Cheap Renters Insurance in Virginia
Updated: May 5, 2025
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Key Takeaways
Allstate offers the cheapest renters insurance in Virginia at $275 annually, while Chubb provides the best overall coverage.
Virginia renters insurance costs about $24 monthly, ranging from $23 to $38.
To find affordable renters insurance, determine your needs first, research costs and compare multiple quotes.
Virginia Renters Insurance Quote Estimates
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Rates updated:
May 09, 2025
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Best Cheap Renters Insurance Companies in Virginia
| Chubb | 97 | $23 | $280 |
| State Farm | 93 | $29 | $348 |
| Nationwide | 93 | $28 | $334 |
| Allstate | 86 | $23 | $275 |
| Main Street America | 75 | $38 | $458 |
*Rates based on good credit, no claims history, $50K property damage, $100K liability coverage, $1,000 deductible and guaranteed replacement.
Compare Personalized Best Cheap Renters Insurance in Virginia
Our list covers most renters, but your ideal options may differ. Use this filterable table to find the best option for your profile in Virginia.
Data filtered by:Results filtered by:
Select
Coverage Level:$50K Personal Property / $100K Liability
Select
Deductible:1000
Select
Claims History:Claim free for 5+ years
Select
Contents Replacement:Yes
Select
Credit Tier:Good
| Chubb | 95 | $17 | $205 |
| Nationwide | 91 | $19 | $227 |
| Auto-Owners | 90 | $15 | $178 |
| State Farm | 89 | $20 | $245 |
| Allstate | 82 | $19 | $225 |
Best Virginia Renters Insurance Review
The section below details our top pick for affordability, customer service and coverage options for Virginia renters insurance.
Chubb: Best Cheap Overall
pros
Very high claims satisfaction ratings
Great included coverages
Lowest average rates
cons
Expensive for higher coverage
COMPANY HIGHLIGHTS
Chubb provides the best balance of affordability, coverage and customer service in Virginia. At about $23 monthly, its rates are 4% below the state average. The company includes identity protection coverage and a home safety monitoring service. Chubb also has the best claims satisfaction, according to J.D. Power.
Average Cost of Renters Insurance in Virginia
Renters insurance costs $24 monthly in Virginia, $4 higher than the national average of $20. These rates reflect a policy with $50K personal property coverage, $100K liability limits and a $1,000 deductible, though your rates may vary based on your profile.
Use the table below to filter factors affecting renters insurance rates and find average rates for your profile.
Data filtered by:Results filtered by:
Select
Coverage Level:$50K Personal Property / $100K Liability
Select
Deductible:1000
Select
Claims History:Claim free for 5+ years
Select
Credit Tier:Good
Select
Contents Replacement:Covered
| $50K Personal Property / $100K Liability | $24 | $285 |
Average Virginia Renters Insurance Cost by City
Renters insurance costs vary by city. The average annual premium in Alexandria is $194; in Virginia Beach, it's $295 for a policy with $50K personal property coverage and $100K liability coverage. Check the table for the average cost in your city.
| Alexandria | $194 |
| Arlington | $193 |
| Chesapeake | $265 |
| Hampton | $279 |
| Newport News | $264 |
| Norfolk | $284 |
| Richmond | $233 |
| Virginia Beach | $295 |
*Rates based on good credit, no claims history, $50K property damage, $100K liability coverage, $1,000 deductible and guaranteed replacement.
Virginia Renters Insurance: Buyer's Guide
Finding the best and cheapest renters insurance in Virginia can be challenging with many options available. This guide helps you select appropriate coverage based on clear information to make your decision easier.
How to Find the Best Cheap Renters Insurance in Virginia
Follow these steps to find the best coverage for your needs:
- 1
Determine the right coverage level
List the value of your belongings and consider local risks like weather damage and crime rates. This helps you set a clear coverage level for better rate comparisons.
- 2
Research costs and discounts
Research average prices for someone with your profile and coverage needs. Look into discounts you might qualify for to reduce your premiums.
- 3
Compare providers
Research companies based on their reputation, typical costs and coverage options. This narrows your list to the most promising providers for quotes.
- 4
Consider bundling
Check if combining renters insurance with your current auto policy saves money. The car insurance discount can often offset most of your renters insurance cost.
- 5
Compare multiple quotes through different channels
Get at least five quotes with matching coverage levels. Try various sources, including comparison sites, provider websites, brokers and phone calls with agents, as prices vary.
- 6
Compare rates annually
Insurance prices change frequently. Compare rates yearly to ensure you still have the most affordable coverage.
How Much Renters Insurance Do I Need in Virginia?
Virginia law doesn't require renters insurance, but most landlords will likely require at least $100K in liability coverage. Requirements may vary based on your rental history, credit and pets. Consider how much property you want covered, weather risks, local crime rates and pet ownership.
Use our calculator below to determine your ideal personal property limits so you know how much renters insurance you need.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Virginia Renter Risk Considerations
Here are risks specific to Virginia renters and additional coverage considerations:
- Weather risks: Virginia has a high risk of hurricanes and landslides in certain areas. Standard coverage may not include protection for these threats, requiring a separate purchase.
- Crime risks: Virginia ranks 30th for property crime and 23rd for identity theft and fraud nationwide. Consider add-ons and supplemental property damage coverage.
- Pet ownership: Depending on your pet, consider pet liability coverage. Check how pet coverage works with different providers and whether it's included in standard policies.
- Property types: If you have special tools, valuables, electronics or other structures like a pool that need coverage, standard policies may not suffice. Look for companies with specific add-ons for additional protection.
How Does Renters Insurance Coverage Work?
Renters insurance typically covers property damage, liability and loss of use related to your rental. Add-on coverages can make protection more comprehensive. Common coverage types include:
Coverage Type | Standard or Add-on | Coverage Details |
|---|---|---|
Standard | Reimburses and replaces personal property within your rental up to specified limits. Standard coverage reimburses actual cash value rather than purchase price, unless you have replacement cost coverage. | |
Standard | Covers you if someone gets injured on your property, including medical and legal costs, and is often required by landlords. | |
Additional living expenses | Standard | Covers expenses due to rental home loss, such as meals, lodging and transportation. Coverage is either a percentage of your personal property limits or a flat amount. |
Natural disasters | Add-on | Separate policies for earthquake and flood coverage available with select providers |
Parts/Equipment | Add-on | Separate policies for tools, appliances and utilities in your rental |
Scheduled property | Add-on | Insures specific valuable items up to certain amounts |
Identity theft | Add-on | Protects financially against identity theft, covering stolen funds and legal costs. May include monitoring services. |
Pet liability | Add-on | Protects against injuries caused by your pet on rental property. May be covered in standard policies. |
Modifications | Add-on | Covers non-original rental property parts, including custom additions and modifications |
Food loss | Add-on | Reimburses food lost due to covered incidents |
Best Renters Insurance in Virginia: Bottom Line
Chubb, Allstate and Nationwide offer Virginia's best affordable renters insurance. These companies provide good value with reasonable rates and quality service. Compare quotes from each to find the best option for your needs.
Renters Insurance in Virginia: FAQ
Here are answers from our experts to common questions:
What is the cheapest renters insurance company in Virginia?
Allstate offers the cheapest renters insurance in Virginia, with an average annual premium of $275 or $23 per month.
What is the best renters insurance company in Virginia?
Chubb is Virginia's best renters insurance company, with a MoneyGeek score of 97 out of 100 due to its strong combination of affordable rates, customer satisfaction and comprehensive coverage.
How much does renters insurance cost in Virginia?
The average cost of renters insurance in Virginia is $285 per year or $24 per month, 18% more than the national average. Annual premiums range from $275 to $458.
Is renters insurance required in Virginia?
Virginia doesn't legally mandate renters insurance, but your landlord may require it. Evaluate your needs and circumstances to determine whether buying a policy is right for you. Reasons to get renters insurance include financial protection against common perils and liability costs of third-party injuries.
How We Found the Best Cheap Renters Insurance Companies
To determine the cheapest renters insurance in Virginia, we used this base profile:
- $50K personal property coverage
- $100K liability coverage
- $1,000 deductible
- Property replacement coverage
- Good credit score
This determined our affordability score (60% of the total score). Other factors included company size and add-on coverage selections (10%), customer satisfaction score from industry research (25%) and financial strength ratings (5%).
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- American Red Cross. "Which Natural Disasters Should You Prepare For?." Accessed May 5, 2025.
- Insurance Information Institute. "Facts + Statistics: Identity Theft and Cybercrime." Accessed May 5, 2025.
- U.S. News. "Property Crime Rate." Accessed May 5, 2025.