Cheapest and Best Renters Insurance Virginia Has to Offer as Rated by Customers in 2024

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#1
/45
4.84 ★★★★★
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Excellent
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#2
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USAA
4.76 ★★★★★
4.76 ★★★★★
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#3
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Grange Insurance
4.70 ★★★★★
4.70 ★★★★★
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#4
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the hartford
4.60 ★★★★★
4.60 ★★★★★
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#5
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4.31 ★★★★★
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#6
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4.30 ★★★★★
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#7
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4.24 ★★★★★
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#8
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4.22 ★★★★★
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#9
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4.19 ★★★★★
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#10
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4.19 ★★★★★
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#11
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4.13 ★★★★★
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#12
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allstate
4.11 ★★★★★
4.11 ★★★★★
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#13
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Nationwide
4.08 ★★★★★
4.08 ★★★★★
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#14
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4.05 ★★★★★
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#15
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4.01 ★★★★★
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#16
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4.01 ★★★★★
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#17
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4.00 ★★★★★
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#18
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3.96 ★★★★★
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#19
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3.96 ★★★★★
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#20
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Esurance, Inc.
3.81 ★★★★★
3.81 ★★★★★
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#21
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3.72 ★★★★★
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#22
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3.70 ★★★★★
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#23
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MetLife, Inc.
3.69 ★★★★★
3.69 ★★★★★
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#24
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Allied Insurance
3.60 ★★★★★
3.60 ★★★★★
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#25
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3.54 ★★★★★
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#26
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Jetty
3.54 ★★★★★
3.54 ★★★★★
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#27
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3.50 ★★★★★
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#28
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Assurant
3.25 ★★★★★
3.25 ★★★★★
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#29
/45
3.15 ★★★★★
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#30
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3.14 ★★★★★
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#31
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Toggle
2.87 ★★★★★
2.87 ★★★★★
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#32
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5.00 ★★★★★
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#33
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4.67 ★★★★★
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#34
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Property Protect
4.19 ★★★★★
4.19 ★★★★★
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#35
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3.83 ★★★★★
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#36
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3.10 ★★★★★
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#37
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2.43 ★★★★★
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#38
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1.97 ★★★★★
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#39
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0.90 ★★★★★
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#40
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0.00 ★★★★★
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#41
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0.00 ★★★★★
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#42
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0.00 ★★★★★
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#43
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0.00 ★★★★★
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#44
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Inland Mutual
0.00 ★★★★★
0.00 ★★★★★
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#45
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0.00 ★★★★★
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Your landlord's insurance policy and a renters insurance policy are two different policies with different but important purposes. A renters policy focuses a lot on the cost of renters damaged property, but it can provide liability coverage and more. A homeowners policy is meant to be comprehensive covering the many risks of owning a home.

The difference between renters insurance and the insurance your landlord has isn't always understood by renters. While the structure of your apartment or building and the owner's personal property is covered by your landlord's insurance policy, renters insurance covers your personal belongings and liability. Your own personal belongings aren't covered without your own renters insurance policy in Virginia just as your car wouldn't be covered by your landlord's auto insurance.

So if you want to ensure you're properly covered while renting, it's important to find one of the best Virginia renters insurance companies. But where do you start? In the table above, you can sort through all the renters insurance companies ranked on Clearsurance. The rating next to each company the insurer's Clearsurance score is based exclusively on the thousands of ratings provided by customers. Note: Only those companies with at least 25 renters insurance reviews are eligible to appear in the best Virginia renters insurance rankings.

Interested in learning more about one of the companies on the list of the best renters insurance companies in Virginia? You can visit the company's profile page to find more information about the company and read reviews to learn from the experiences of other policyholders.

On this page:

What are your coverage options on 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, you may also be able to purchase additional coverage like identity theft protection, guest medical payments coverage, and other optional coverages.

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.

Who offers the best Virginia renters insurance rates?

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.

How much does rent cost in Virginia Beach?

In Virginia Beach, rent costs an average of $1,140 per month. The cost of rent in Virginia Beach can vary based on factors including your apartment's location and size. If your apartment has extra amenities in the apartment or common areas, you could also pay more. Unless it reduces or increases your property risk, things built into the property won't affect cheap renters insurance rates.

While many people may be attracted to Virginia Beach for a vacation, the southeastern coastal city in Virginia is also a popular place to live as it’s the most populous city in the state. While the average cost of rent in Virginia Beach is $1,140 per month, the cost slightly varies by location. For example, the average cost of rent in Bay Colony is $1,233 per month while the average cost of rent in Forest Hills is $1,074.

Like location, the size of the apartment may also affect the cost of rent per month for an apartment in Virginia Beach. On average, a studio apartment costs $950 per month, a one-bedroom apartment costs $1,026 per month and a three-bedroom apartment costs $1,369 per month. People renting in Virginia Beach may want to consider purchasing a renters insurance policy to cover their personal belongings from disasters such as hurricanes, fire or theft. Keep in mind that a standard renters insurance policy usually doesn’t include flood insurance coverage.

Planning to rent out your home on Airbnb? Here’s what you need to know about Airbnb’s insurance policy.

How much does rent cost in Richmond?

In Richmond, Virginia, rent costs an average of $1,016 per month. The cost of rent in Richmond can vary based on factors including your apartment's location and size.

Richmond, Virginia’s state capital, is also one of the most populous cities in the state with about a quarter of a million people. So what is the average rent in the city? Even though renters pay an average of $1,016 a month in Richmond, rental cost varies by a few factors.

For instance, rent in the Capitol District and Richmond City Center goes for an average of $1,374 while rent is much cheaper in the areas of Ginter Park and Wildwood. The cheapest renters insurance can vary widely as well. Property crime rates are one of the most important factors to consider.

In terms of apartment size, a studio apartment in Richmond costs an average of $933 per month, a one-bedroom apartment costs $950 per month, and a three-bedroom apartment costs $1,316 per month.

Do college students in Virginia need renters coverage?

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.

College students will most likely have roommates in the apartment they rent. It's not advised that students share renters insurance policies with roommates. Rather, each student should have their own renters insurance policy to protect their own belongings.

How does theft affect renters insurance?

Theft and vandalism or malicious mischief are among the 16 perils a standard renters insurance policy protects you from. So, how does crime in Virginia compare to other states around the country? The FBI published the following statistics on crime in Virginia for 2016: The FBI published the following statistics on crime in Virginia for 2016:

  • Property crime - 156,412
  • Burglary - 20,018
  • Larceny theft - 126,606

When compared to the national average rate per 100,000 inhabitants, all three crime statistics in Virginia rank below the national average.

How Can You Save Money on Your Renters Insurance in Virginia?

While renters insurance may be more affordable than other types of insurance, no one wants to pay more for renters insurance coverages than they have to. So what are the different ways that you can lower your Virginia renters insurance premiums and have some extra spending money?

Here are the top 5 ways to save on your renters insurance:

  • Raise your deductible
  • Ask about potential discounts
  • Bundle your policies
  • Determine the value of your personal property
  • Pay in full by check
  • Look at coverage. Do you want to cover additional living expenses, and how much coverage do you need?

Since some renters insurance policies in Virginia do not cover damages to personal property due to floods and earthquake, it's important to check with your insurance agent if you can receive flood and earthquake insurance coverages. Also, it's a good idea to ask if they have an identity theft insurance package that you can add to your regular renters insurance policy.

If you bundle your auto policy with a homeowners or renters insurance policy with the same insurance provider, you will usually receive a multi-policy discount (this might also be available for bundling with other insurance products, such as a life insurance policy or boat insurance policy). Some insurance carriers also reduce your monthly premium for safety devices in your apartment, such as a smoke detector, protective devices like burglar alarms, or for setting up automatic payments.

A wide range of discount options may be available, so make sure to ask renters insurance providers about your options when you're shopping around for quotes. If you're looking for the most affordable rate, get an online quote for a renters policy from at least three companies before making a decision.

How does Clearsurance rate and rank the best renters insurance companies in Virginia?

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. We also take into account average rates on standard policies. If you want more coverage for higher dollar items or other add-ons, renters insurance cost changes.

Do you need a renters insurance guide?

As we mentioned above, there's common misconceptions regarding what is and isn't covered by a renters insurance policy. Before you purchase a policy from one of these best renters insurance companies in Virginia, it's important to understand what your policy covers.

For example, did you know that many renters insurance policies include liability protection in the event a non-resident is injured on the rental property. Plus, if your apartment becomes uninhabitable from an incident, some policies may cover your expenses as you find temporary housing.

To help you find the most affordable renters insurance among the best renters insurance providers, we've outlined the average prices, useful features, and customer rankings. Before choosing a policy, make sure to get renters insurance quotes from several providers to see which one is the best for you.

We want to make sure you’re equipped with a proper knowledge of renters insurance, so check out our renters insurance guide. Looking for more educational information about renters insurance? Check out our renters insurance blog for more information and topics related to renters insurance.

Frequently Asked Questions

#1 – Who offers the best Virginia renters insurance rates?

Out of the most popular companies in Virginia, Erie offers the cheapest Virginia renters insurance rates, on average.

#2 – How much does rent cost in Virginia Beach?

In Virginia Beach, rent costs an average of $1,140 per month. The cost of rent in Virginia Beach can vary based on factors including your apartment's location and size.

#3 – How much does rent cost in Richmond?

In Richmond, Virginia, rent costs an average of $1,016 per month. The cost of rent in Richmond can vary based on factors including your apartment's location and size.

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