Best and Cheapest Renters Insurance in Virginia for 2024 (10 Affordable Companies)
The best and cheapest renters insurance in Virginia, starting at $18 per month, comes from USAA, Progressive, and State Farm, offering a solid blend of affordability, comprehensive coverage, and tailored benefits designed to meet the unique needs of Virginia residents.
These top providers offer excellent value through affordable rates, and unique benefits like USAA’s military perks, earning recognition as the best and cheapest renters insurance as rated by customers.
| Company | Rank | Monthly Rates | A.M. Best | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
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#1 | $18 | A++ | Military Benefits | USAA |
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#2 | $26 | A+ | Competitive Rates | Progressive |
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#3 | $27 | B | Reliable Coverage | State Farm |
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#4 | $29 | A++ | Affordable Premiums | Geico |
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#5 | $31 | A++ | Discount Options | Travelers |
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#6 | $35 | A | Flexible Policies | American Family |
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#7 | $36 | A+ | Comprehensive Protection | Nationwide |
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#8 | $42 | A | Customizable Plans | Farmers |
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#9 | $43 | A+ | Claim Assistance | Allstate |
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#10 | $54 | A | Bundle Savings | Liberty Mutual |
Virginia renters can find tailored options for personal property and liability protection. Compare these insurers to secure the best coverage for your needs.
In search of lower premiums? Find the right provider for you and your budget by entering your ZIP code above.
What You Should Know
- Get the best and cheapest renters insurance in Virginia, tailored to local needs
- Compare affordable options from top providers for ideal coverage
- USAA offers top value for military families, starting at $18 monthly
#1 – USAA: Top Pick Overall
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Pros
- Military-Focused Coverage: USAA's renters insurance in Virginia is based on benefits for military families, such as deployment and shared housing. Learn more in our USAA review.
- Affordable Costs: Known for budget-friendly renters insurance in Virginia, USAA keeps premiums low for cost-conscious military members.
- Reliable Customer Support: USAA provides excellent customer support for those military renters in Virginia who require a personal approach.
Cons
- Membership Limits: USAA’s renters insurance in Virginia is exclusive to military families, limiting access for other renters.
- Limited Local Branches: Mostly digital, USAA’s renters insurance in Virginia offers fewer in-person service options.
#2 – Progressive: Best for Competitive Rates
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Pros
- Flexible Policy Options: Progressive lets renters in Virginia customize policies for valuables and identity theft coverage.
- Bundling Discounts: Virginia renters save by bundling renters insurance with Progressive’s other policies, like auto insurance. Get a complete view in our Progressive review.
- User-Friendly Online Tools: Progressive’s digital tools simplify managing renters insurance for Virginia customers.
Cons
- Inconsistent Service Quality: Progressive’s renters insurance in Virginia has mixed service reviews, affecting support reliability.
- Not Renters-Focused: Progressive’s broad offerings mean their renters insurance in Virginia may feel less specialized.
#3 – State Farm: Best for Reliable Coverage
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Pros
- Strong Local Agent Network: Virginia renters get personalized support with State Farm’s extensive agent network.
- Good Liability Coverage: State Farm’s renters insurance in Virginia offers solid liability protection for renters.
- Customizable Policies: Virginia renters enjoy options to add coverage for valuables with State Farm renters insurance. Read our State Farm review for more.
Cons
- Less Digital-Friendly: State Farm’s digital features may not suit tech-savvy renters in Virginia seeking online services.
- Higher Add-On Costs: Customizing renters insurance in Virginia with State Farm can be pricier for budget renters.
#4 – Geico: Best for Affordable Premiums
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Pros
- Affordable Premiums: With minimal coverage changes, Geico offers affordable renters insurance in Virginia.
- Easy Online Access: Virginia renters can take advantage of Geico's quick online tools to manage the policy and claims process.
- Safety Discounts: Geico, for example, offers safety discounts that allow Virginia renters to lower their premium costs. Read our Geico Renters Insurance Review.
Cons
- Limited Customization: Geico offers limited additional options for renters with specific issues in Virginia.
- Mixed Claims Feedback: Virginia renters report varying experiences with Geico’s claims support and response times.
#5 – Travelers: Best for Discount Optionss
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Pros
- Wide Coverage Options: Travelers provides Virginia renters with broad policy options for comprehensive renters insurance. Find the full list in our Travelers review.
- Safety Discounts Available: Virginia renters with fire alarms and security features get extra savings on Travelers premiums.
- Financial Stability: Supported by substantial capital, Travelers renters insurance in Virginia provides reliable coverage.
Cons
- Complex Pricing Structure: The stacked savings can with layered discounts may complicate Virginia renters insurance pricing for Travelers.
- Less Intuitive Online Tools: Virginia renters may find Travelers’ digital tools less user-friendly for policy management.
#6 – American Family: Best for Flexible Policies
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Pros
- Flexible Policy Terms: American Family’s renters insurance in Virginia suits seasonal and short-term renters.
- Responsive Customer Service: Virginia renters find American Family’s customer support attentive and helpful. Explore our American Family review.
- Good Discounts for Savings: Safety and bundling discounts on American Family renters insurance help Virginia renters save.
Cons
- Limited Virginia Locations: American Family’s renters insurance has limited availability in some Virginia areas.
- Pricier Add-Ons: Extra coverage options with American Family renters insurance in Virginia can drive up costs.
#7 – Nationwide: Best for Comprehensive Protection
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Pros
- Comprehensive Coverage Options: Nationwide offers renters in Virginia well-rounded renters insurance for various needs.
- Bundling Savings: Virginia renters with Nationwide can save on premiums by bundling renters insurance with other policies.
- Resourceful Online Tools: Nationwide provides Virginia renters with informative tools for understanding coverage. Learn more in our Nationwide review.
Cons
- Higher Average Premiums: Virginia renters might find Nationwide’s renters insurance prices higher than some competitors.
- Variable Service Quality: Nationwide’s renters insurance in Virginia may offer differing levels of support by location.
#8 – Farmers: Best for Customizable Plans
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Pros
- Customizable Policies: Virginia renters can tailor Farmers renters insurance to fit unique needs, like covering valuables. Find more in our Farmers review.
- Educational Resources: Farmers offers renters in Virginia resources to understand renters insurance coverage options.
- Discount Opportunities: Farmers has a number of discounts, including credits for smoke alarms that help renters in Virginia save money on their premiums.
Cons
- Higher Premiums for Options: Farmers is more customizable than the average renters insurance in Virginia, which makes it a more expensive option.
- Limited Discounts: Farmers may offer fewer discounts compared to others, which means that renters in Virginia are not able to save a lot.
#9 – Allstate: Best for Claim Assistance
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Pros
- Hands-On Claims Assistance: Virginia renters benefit from Allstate’s dedicated support for renters insurance claims.
- Flexible Support Options: Allstate provides Virginia renters both digital and in-person support for policy management. Discover details in our Allstate review.
- Specialized Coverage Add-Ons: Virginia renters can add protections like natural disaster or identity theft coverage.
Cons
- Higher Premiums for Extra Coverage: Allstate’s renters insurance in Virginia can be costly for extended add-ons.
- Inconsistent Claims Experiences: Virginia renters report varying satisfaction levels with Allstate’s claims process.
#10 – Liberty Mutual: Best for Bundle Savings
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Pros
- Flexible Payment Options: Liberty Mutual’s renters insurance in Virginia offers multiple payment plans for budgeting ease.
- Comprehensive Bundle Discounts: Renters in Virginia benefit from Liberty Mutual’s savings when bundling with auto policies. See our Liberty Mutual review for more.
- Well-Rounded Coverage: Liberty Mutual’s renters insurance in Virginia includes protection for personal property and liability.
Cons
- Higher Base Premiums: Liberty Mutual’s renters insurance in Virginia starts at a higher price point than some others.
- Limited Discounts: Liberty Mutual’s renters insurance offers fewer discounts, impacting potential savings for Virginia renters.
Affordable Renters Insurance Choices in Virginia for Comprehensive and Basic Coverage
Here’s a quick look at monthly rates for renters insurance in Virginia, starting as low as $18 for minimum coverage and $43 for full coverage with USAA. With options from top providers, you’ll find a range of plans that balance protection and affordability to suit your needs.
| Insurance Company | Minimum Coverage | Full Coverage |
|---|---|---|
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$43 | $103 |
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$35 | $83 |
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$42 | $100 |
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$29 | $69 |
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$54 | $129 |
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$36 | $86 |
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$26 | $61 |
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$27 | $63 |
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$31 | $73 |
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$18 | $43 |
With these monthly rates in mind, you can now see affordable renters insurance options in Virginia. Whether you’re looking for basic coverage or asking yourself, What is comprehensive insurance coverage, comparing these providers can help you find the best value for peace of mind and budget.
Affordable Renters Insurance Choices in Virginia for Comprehensive and Basic Coverage
If you’re looking to trim your monthly renters insurance costs in Virginia, there are plenty of discount options to explore. Many top providers offer savings for bundling policies, going claim-free, or adding security devices to your home. For more insights, check out our guide, Things to Know About Home Insurance. Here’s a closer look at some of the best ways to keep your coverage affordable each month.
| Insurance Company | Available Discount |
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Multi-policy discount, Auto-pay discount, Safe home discount (security devices), Claim-free discount |
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Bundle discount, Auto-pay discount, Loyalty discount, Paperless billing discount |
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Multi-policy discount, Security systems discount, Claims-free discount, Occupation discount (teachers, doctors, etc.) |
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Multi-policy discount, Smoke alarm discount, Sprinkler system discount, Auto-pay discount |
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Multi-policy discount, New/Renovated home discount, Claim-free discount, Safety devices discount |
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Bundle discount, Protective device discount, Claims-free discount, Auto-pay discount |
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Multi-policy discount, Safety device discount, Quote in advance discount, New tenant discount |
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Multi-policy discount, Home alert protection discount, Claim-free discount |
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Multi-policy discount, Home security discount, Green home discount, Loss-free discount |
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Multi-policy discount, Home security discount, Claims-free discount, Loyalty discount |
Those are monthly rebates that help make renters insurance more affordable while still providing coverage. You can stay well-protected and keep your costs down by grouping policies or incorporating protective features. Take a look at these to find the ideal mix of savings and protection for your home in Virginia.
Understanding the Real Costs of Common Car Insurance Claims
Ever wonder how much different car insurance claims actually cost? From Collision vs. Comprehensive coverage to more rare cases like uninsured motorist claims, each type varies in both frequency and price. Here’s a breakdown to give you a better sense of what you might expect.
| Claim Type | Portion of Claims | Cost per Claim |
|---|---|---|
| Collision | 57% | $3144 |
| Comprehensive | 23% | $1621 |
| Personal Injury | 12% | $15000 |
| Uninsured Motorist | 5% | $20000 |
| Property Damage | 3% | $2500 |
Seeing these average costs can be eye-opening. It highlights why certain coverage options are essential, and it helps you plan for the unexpected. Knowing what’s typical can make all the difference in making sure you’re well-covered on the road.
Whether you’re driving in Richmond or relaxing by the beach in Virginia Beach, each city has its own trends in accidents and insurance claims. Take a look to see how your area compares.
| City | Accidents per Year | Claims per Year |
|---|---|---|
| Alexandria | 2,900 | 2,700 |
| Norfolk | 4,500 | 4,200 |
| Richmond | 5,200 | 4,800 |
| Roanoke | 2,100 | 1,900 |
| Virginia Beach | 3,800 | 3,500 |
Seeing these numbers gives a better picture of driving risks across Virginia. Whether you’re a local or planning a move, understanding these trends can help you stay prepared on the road.
Affordable Renters Insurance Choices in Virginia for Comprehensive and Basic Coverage
Your landlord’s insurance and a renters insurance policy serve different purposes. While your landlord’s policy covers the building’s structure and their property, renters insurance protects your personal belongings and offers liability coverage, including What is property damage liability insurance and what does it cover?
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Without renters insurance, your items aren’t covered in case of damage or theft, much like your landlord’s auto insurance wouldn’t cover your car. To find the best renters insurance in Virginia, check the rankings on Clearsurance, where companies are rated based on customer reviews. You can visit each profile for details and to read real policyholder experiences.
On this page:
- Virginia renters insurance rates
- Average cost of renting in Virginia Beach
- Average cost of renting in Richmond
- Renters insurance for Virginia college students
- Virginia property crime statistics
Exploring Coverage Options in a Renters Insurance Policy
Just like any other policy, you can usually customize your renters insurance coverage to get exactly what you need. A standard policy contains some form of the following types of renters coverage:
Personal Property Coverage: This type of coverage pays the replacement cost for the personal items you keep in your apartment should they be damaged or destroyed. The policy will usually have a list of covered losses or perils, so make sure to look this over closely.
Liability Coverage: Liability insurance pays for medical expenses if someone is injured in your apartment.
Loss of Use Coverage:Loss of use pays for your hotel and food expenditures when you are unable to stay in your apartment because of damages. This may also be called additional living expense coverage or temporary living expenses coverage.
Beyond these basic coverage options, which address questions like "Does Renters Insurance Cover Theft?", you may also be able to purchase additional coverage such as identity theft protection, guest medical payments coverage, and other optional coverages.
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People who keep expensive items in their rental unit, like musical instruments, jewelry, or sports equipment, may wish to increase their coverage limits for additional peace of mind.
The cost of renters insurance can vary widely based on your zip code, credit score, and many other factors. We used sample information to generate quotes, but your individual circumstances may make another company cheaper for personal property coverage. Out of the most popular companies in Virginia, Erie offered us the cheapest Virginia renters insurance premium, on average.
| Company | Average renters insurance rates |
|---|---|
| Erie Insurance | $88.89 |
| Auto-Owners | $98.88 |
| Safeco | $104.04 |
| Allstate | $117.90 |
| State Farm | $120.90 |
| Travelers | $125.11 |
| Encompass | $132.33 |
| Nationwide | $166.59 |
| Farmers | $175.47 |
These average renters insurance rates are based on a policy with $30,000 in personal property coverage (with a $500 deductible), $100,000 in personal liability and $1,000 in medical payments to others. The rates displayed should only be used for comparative purposes as individual rates in Virginia will differ. Rate data is provided by Quadrant Information Services.
Renters Insurance for College Students in Virginia: Why It Matters
You may be renting an apartment located off-campus if you're attending one of the many colleges or universities in Virginia. There are a few things for college students renting housing in Virginia to consider in order to protect their personal belongings. Typically, college students who live in dorms located on the college campus are covered by their parents' homeowners insurance policy.
That's usually only the case for students who live on campus, though. College students in Virginia who rent apartments off-campus should consider a renters insurance policy because their items won't be covered under their parents' policy. Without renters insurance coverage, they won't have any protection against theft, water damage, and other property loss or damage.
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College students will likely have roommates in the apartments they rent. A practical guide for understanding renters insurance advises that students avoid sharing renters insurance policies with roommates. Instead, each student should secure their own policy to protect their personal belongings.
Car Insurance Discounts to Help You Save
Looking to save on car insurance? Check out some of the most popular discounts offered by top providers. Whether you’re a safe driver, a student with good grades, or someone who drives less, these discounts can make a real difference in your premium.
| Discount Name | Grade | Savings | Participating Providers |
|---|---|---|---|
| Safe Driver | A | 20% | Geico, State Farm, Allstate |
| Multi-Policy | A- | 15% | Progressive, Nationwide, USAA |
| Good Student | B+ | 10% | State Farm, Geico, Allstate |
| Anti-Theft Device | B | 5% | Progressive, Farmers, Geico |
| Low Mileage | B- | 5% | Nationwide, State Farm, Geico |
These discounts are a great way to keep more money in your pocket. A Practical Guide For Understanding Car Insurance suggests reaching out to your provider to see which ones you might qualify for—it’s a quick step that could lead to substantial savings on your car insurance.
Essential Car Insurance Coverage Explained
Choosing car insurance can be complex, however each type of coverage is there for a reason which offers protection when you are behind the wheel.
| Category | Grade | Explanation |
|---|---|---|
| Medical Payments | A | Covers medical expenses regardless of fault; essential for comprehensive protection. |
| Collision Coverage | A | Provides robust coverage for vehicle damage from collisions. |
| Comprehensive | A- | Covers non-collision incidents like theft and natural disasters. |
| Liability Coverage | B+ | Meets state minimum requirements; higher limits recommended for better protection. |
| Uninsured Motorist | B | Offers protection against uninsured drivers; important due to moderate rates of uninsured motorists. |
These can range from covering medical bills in the event of an accident to ensuring you are protected against uninsured drivers, giving you peace of mind when unexpected events occur. Steps to handling an accident with an uninsured driver can guide you through understanding the right coverage.
Clearsurance's Approach to Ranking Virginia's Best Renters Insurance Companies
Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:
- Price
- Customer Service
- Claim service
- Likelihood to renew
The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.
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We also consider average rates on standard policies, and if you want more coverage for high-value items or add-ons, such as when to file a car insurance claim, renters insurance costs can vary.
Virginia’s Best Renters Insurance: USAA, Progressive & State Farm
For affordable, reliable renters insurance in Virginia USAA, Progressive, and State Farm top the list. USAA has military family perks, Progressive has competitive rates and State Farm is known for reliable coverage. For an exhaustive review, check out our in-depth report titled "Best Military Car Insurance: Companies and Discounts".
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Balance protection with affordability by comparing quotes from these top-rated companies. A deeper dive into what they offer can help you lock down the coverage that best suits your needs and wallet, providing tremendous peace of mind.
You can find the cheapest insurance coverage tailored to your needs by entering your ZIP code below.
Frequently Asked Questions
Who has the cheapest and best renters insurance?
Companies like Lemonade and State Farm are frequently considered the cheapest and best renters insurance providers, depending on coverage needs and location.
How much does renter's insurance cost in Virginia, and what is the most common renter's insurance?
Renters insurance in Virginia typically costs between $15 and $20 per month. The most common renters insurance includes personal property, liability, and additional living expenses coverage.
How much renters insurance should a landlord require in Virginia?
Landlords in Virginia often require at least $100,000 in liability coverage for renters insurance, though this amount can vary based on specific rental agreements. What is liability car insurance? Liability car insurance covers costs related to bodily injury or property damage that the policyholder is legally responsible for in an accident.
How much is renters insurance in DC, and why is Lemonade insurance so cheap?
Renters insurance in DC averages $18 to $25 per month. Lemonade insurance is often cheaper because it relies on a tech-driven, low-cost model.
What does renters insurance cover in Virginia, and how much is landlord insurance in Virginia?
Renters insurance in Virginia generally covers personal belongings, liability, and additional living expenses. Landlord insurance in Virginia costs around $50 to $80 monthly and provides property and liability protection for rental properties.
What are the most common insurances, and what is renters insurance also known as?
The most common insurances include health, auto, and renters insurance. Renters insurance is also known as tenants insurance. For a deeper dive, refer to our extensive handbook titled "What to Know About Buying Auto Insurance Online."
What is my renter's insurance, and what is the average renter's insurance in the US?
My renters insurance refers to the personal policy that protects your belongings and liability. The average renters insurance in the US costs about $15 per month.
What is the average price of renters insurance in Virginia, and what are the new rental laws in Virginia?
The average price of renters insurance in Virginia is between $15 and $20 per month. Recent rental laws in Virginia enhance tenant protections but do not require renters insurance. For a complete breakdown, consult our detailed guide named "Landlord Insurance vs. Renters Insurance".
What is the most common amount for renters insurance, and is renters insurance mandatory in DC?
The most common amount for renters insurance includes $100,000 in liability coverage, typically costing around $15 per month. Renters insurance is not mandatory in DC, though many landlords require it.
How much is renters insurance in Maryland, and what are the downsides of Lemonade insurance?
Renters insurance in Maryland generally costs between $12 and $18 per month. Some downsides of Lemonade insurance include limited coverage options and fewer customer service channels compared to traditional providers.