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 providing Virginia residents with the best and cheapest renters insurance available, combining affordability with solid coverage and tailored benefits often crafted to suit the unique needs of the state.
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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 .
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: In Virginia, Geico has available options to cover specific issues but only for renters.
- 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 sample of monthly rates for renters insurance in Virginia with coverage, starting at $18 for minimum coverage and $43 for full coverage, USAA. We only work with the best providers so you’ll find a suite 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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Bundling, Auto-Pay, Safe Home (security devices), Claim-Free |
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Bundling, Auto-Pay, Loyalty, Paperless Billing |
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Bundling, Security Systems, Claims-Free, Occupation (teachers, doctors, etc.) |
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Bundling, Smoke Alarm, Sprinkler System, Auto-Pay |
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Bundling, New/Renovated Home, Claim-free, Safety Devices |
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Bundling, Protective Device, Claims-Free discount, Auto-pay discount |
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Bundling, Safety Device, Quote in Advance, New Tenant |
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Bundling, Home Alert Protection, Claim-Free |
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Bundling, Home Security, Green Homet, Loss-Free |
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Bundling, Home Security, Claims-Free, Loyalty |
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.
Analyzing Insurance Claims: Costs and Trends Across Virginia Cities
However, knowing how much you can expect to pay, as well as how often certain types of claims are filed, can help with making coverage decisions. This table lists frequent types of claims, such as fire, water damage and theft, and the average price per claim.
A breakdown of claims for major Virginia cities, including Richmond and Virginia Beach, also shows differences in the volume of claims and costs. But dive into the details for how these insights can assist you to better control your protection in needs.
| Claim Type | Portion of Claims | Cost per Claim |
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| Fire and Smoke Damage | 25% | $10000 |
| Water Damage | 20% | $5000 |
| Theft | 18% | $3500 |
| Wind or Hail Damage | 15% | $6500 |
| Liability Claims | 12% | $7000 |
When we take a look at types of claims and regional data, along with homeowners insurance reviews, it gives us an idea of what risks homeowners are exposed to and how much claims could cost in the event they do have one.
| City | Accidents per Year | Claims per Year |
|---|---|---|
| Alexandria | 9,000 | 4,300 |
| Norfolk | 10,500 | 5,100 |
| Richmond | 15,000 | 7,500 |
| Roanoke | 8,500 | 4,000 |
| Virginia Beach | 12,000 | 6,200 |
Fire and water damage are among the costliest losses, and you should adjust your coverage to local trends and prevalent risks. Use this data to make sure your policy offers you the protection you desire in the event of unexpected circumstances.
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.
Exploring Coverage Options in a Renters Insurance Policy
Also like any other policy, you can often personalize the coverage in your renters insurance policy so that you get exactly what you need. Some form of the following types of renters coverage exist in a standard policy:
Personal Property Coverage: This type of coverage helps pay for the replacement cost for your personal belongings that you store in your apartment in the event that they are damaged or destroyed. The policy will almost always contain a listing of covered losses, or perils, so read this carefully.
Liability Coverage: Liability insurance will pay medical expenses if someone gets hurt in your apartment.
Loss of Use Coverage:Loss of use covers the cost of your hotel and food bills when you are unable to stay in your apartment due to damages. Also known as 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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Those who keep valuable property in their rental unit, such as musical instruments, jewelry, or sports equipment, may want to raise their coverage limits to have extra peace of mind. Renters insurance can be very cheap or quite expensive, depending on your zip code, your credit score, and dozens of other factors.
We generated quotes based on sample information, but the cost of personal property coverage may be lower with another company in your particular situation. Of the Virginia companies most likely to get picked by renters, Erie gave us the cheapest Virginia renters insurance estimate, on average.
Renters Insurance for College Students in Virginia: Why It Matters
If you’re a student at one of Virginia’s many colleges or universities, you may be renting an apartment that’s off-campus. If you’re a college student renting housing in Virginia, here are some things you need to consider to help protect your personal belongings. On the whole, college students living in campus dorms are under their parents’ homeowners insurance policy.
That is not typically true for students who live off-campus, however. Virginia college students who rent off-campus apartments should secure a renters insurance policy because their property will not be covered under their parents’ policy. Without renters insurance coverage, they will have zero protection against theft, water damage, and other property loss or damage of any kind.
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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.
Smart Ways to Save With Renters Insurance Company Discounts
Many offer low premiums without sacrificing coverage. This analysis presents popular discounts such as multi-policy and safety devices, as well as average savings and top providers like Safety Insurance Company offering these benefits. Take this information and use it to determine the best ways to save money with companies you can trust.
| Discount Name | Grade | Savings | Participating Providers |
|---|---|---|---|
| Multi-Policy Discount | A+ | 25% | State Farm, Allstate |
| Safety Devices Discount | A | 15% | Geico, Liberty Mutual |
| Claims-Free Discount | A | 12% | USAA, Farmers |
| Paperless Billing Discount | B | 10% | Progressive, Nationwide |
| Full Payment Discount | B- | 8% | Travelers, The Hartford |
Taking advantage of discounts you may qualify for, such as multi-policy discounts or claims-free discounts, can lead to substantial savings as well. Whether it is bundling your policies together or going through paperless billing, these are all options and make it easier for you to save and keep yourself insured at the same time.
That means shopping around for providers, which will help you to use these discounts to your benefit to get the most out of your policy.
Essential Renters Insurance Coverage Explained
To ensure you pick the right insurance provider, you need to know the pros and cons. The assessment looks into the service you will get in six important categories such as claims handling and monthly costs.
Like a suffix on a rental application, thankfully only the third recommendation behind affordability and discounts — Renters Insurance Company performs best on price and price breaks, but there are areas such as policy customization that could use more effort shaped with ribbons and bows.
| Category | Grade | Explanation |
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| Monthly Costs | A+ | Low premiums nationwide |
| Claims Handling | A | Fast, few complaints |
| Discounts Availability | A | Many savings options |
| Customer Service | B | Reliable, provider-dependent |
| Policy Customization | B- | Moderate add-on flexibility |
Use this overview to figure out whether this is right for you. This analysis shows that Renters Insurance Company is relatively low-cost and capable in the claims department, making it a strong choice for anyone looking to find the best renters insurance near me.
The limited customer service and policy personalization could definitely be better, but we think the wide array of discounts and low monthly premiums are more than enough to counterbalance those downsides for most. Read through these insights and determine if it’s right for you.
Clearsurance's Approach to Ranking Virginia's Best Renters Insurance Companies
If your personal belongings or liability is not protected, renters insurance in Virginia is a smart buy. Even though Virginia does not require legal renters insurance, it’s often a must if you’re renting in Virginia Beach or Newport News, VA.
That’s why it may be something landlords will put in the conditions of your lease, giving you the reason to find renters insurance in Virginia Beach or Newport News, VA. Plans for renters insurance can start as low as $15 to $30 a month, making them budget-friendly. Shopping around for the best renters insurance quotes is the key to getting an affordable renters insurance or a custom plan.
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When it comes to Virginia renters insurance, you can find a variety of options, whether you need the basics or something more comprehensive. Virginia renters insurance that offers a good balance between affordable prices and reliable protection can help you put your mind at ease. Policies will differ, but specialized coverage for higher value items is essential for making the most of your Virginia renters insurance.
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 .
Frequently Asked Questions
What is the average cost of renters insurance in Virginia?
The average cost of renters insurance in Virginia ranges from $15 to $30 monthly, based on the provider and coverage level.
How much is renters insurance in VA?
Renters insurance in VA generally costs around $15 to $30 per month for standard coverage.
What are the benefits of having renters insurance in Richmond, VA?
Renters insurance in Richmond, VA, can help protect your belongings financially, with liability coverage — including property damage liability insurance. To learn more, What is Property Damage Liability Insurance? It also provides assistance with living expenses if you’re displaced as a result of a covered incident.
How do I find affordable renters insurance in Richmond?
You can find renters insurance in Richmond by comparing monthly quotes from local providers and choosing policies that match your budget and coverage requirements.
Where can I find cheap renters insurance in Virginia?
Cheap renters insurance in Virginia can be found by comparing quotes from providers like Geico, Allstate, and Lemonade, with plans starting at $15 per month.
Why should you have renters insurance?
Renters insurance protects your personal belongings, provides liability coverage, and ensures you’re covered for unforeseen events, offering peace of mind to tenants. A common question is, "Does renters insurance cover water damage?" The answer depends on the policy, but many plans include coverage for certain types of water damage, adding another layer of protection for renters.
How do I compare renters insurance quotes in Virginia?
To compare renters insurance quotes in Virginia, use online tools or consult with local insurance agents to evaluate policies based on price and coverage.
What is the cheapest renters insurance available in Virginia Beach, VA?
The cheapest renters insurance in Virginia Beach, VA, starts at $15 per month, offered by providers like USAA, State Farm, and Progressive.
Where can I get cheap renters insurance in Richmond, VA?
Cheap renters insurance in Richmond, VA, is available from companies like Progressive and State Farm, with monthly premiums starting at $15. But what is an insurance deductible? It’s the amount you pay out of pocket before your coverage applies, helping you balance affordable premiums with manageable claim costs
What is the average cost of renters insurance in Virginia?
The average cost of renters insurance in Virginia typically ranges from $15 to $30 per month, depending on factors such as coverage limits, location, and deductible amounts. Shopping around and comparing quotes can help you find the best policy for your needs and budget.