Best condo insurance companies in Virginia
In Virginia, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, scores, and ratings from sources like the National Association of Insurance Commissioners (NAIC) and AM Best for major insurance companies in Virginia. Below are the best condo insurance companies in Virginia based on Insurance.com’s analysis.
| Company | Annual premium | AM Best rating | NAIC | Insurance.com rating |
|---|---|---|---|---|
| Nationwide | $518 | A+ | 0.87 | |
| American Family | $333 | A | 0.37 | |
| State Farm | $433 | A++ | 0.95 | |
| Universal Insurance Holding | $309 | A | 2.01 | |
| Erie Insurance | $548 | A+ | 0.38 | |
| Allstate | $623 | A+ | 0.90 | |
| IAT Insurance Group | $388 | B++ | 2.52 | |
| Farmers | $689 | A | 0.54 | |
| Travelers | $1,107 | A++ | 0.54 | |
| Progressive | $535 | A+ | 8.45 |
Average cost of condo insurance in Virginia
The average cost of condo insurance in Virginia is $548 a year or $46 a month with $1,000 as deductible, $60,000 in personal property coverage, and liability coverage of $300,000. Your average annual premium will vary depending on your location, the coverage limits you select, and the deductible amount among other factors.
To find the most affordable policy for your situation, compare quotes from multiple providers based on the coverage you need.
| Average annual premium | Average monthly premium |
|---|---|
| $548 | $46 |
Condo insurance calculator
Average condo insurance rates in VirginiaMost & least expensive ZIP codes for condo insurance in Virginia
Most expensive
| ZIP code | City | Highest rate |
|---|---|---|
| 23459 | Virginia Beach | $904 |
| 23451 | Virginia Beach | $858 |
| 23461 | Virginia Beach | $850 |
| 23310 | Cape Charles | $817 |
Least expensive
| ZIP code | City | Lowest rate |
|---|---|---|
| 24066 | Buchanan | $429 |
| 24131 | Paint Bank | $431 |
| 24162 | Shawsville | $431 |
| 24085 | Eagle Rock | $432 |
Condo insurance rates in Virginia by coverage level
Based on a rate study by Insurance.com, Universal Insurance Holding provides the lowest condo insurance rates in Virginia based on our standard coverage sample of $60,000 for personal property coverage, $300,000 for liability coverage and a $1,000 deductible.
American Family is the next cheapest option, offering low-cost condo insurance in Virginia at $333 per year. However, rates vary by coverage level.
The table below shows condo insurance rates from several top companies at various coverage levels.
| Company | $40,000 contents/$100,000 liability | $40,000 contents/$300,000 liability | $60,000 contents/$100,000 liability | $60,000 contents/$300,000 liability | $80,000 contents/$100,000 liability | $80,000 contents/$300,000 liability | $100,000 contents/$100,000 liability | $100,000 contents/$300,000 liability |
|---|---|---|---|---|---|---|---|---|
| Universal Insurance Holding | $237 | $261 | $285 | $309 | $323 | $347 | $361 | $385 |
| American Family | $240 | $242 | $330 | $333 | $427 | $431 | $525 | $529 |
| IAT Insurance Group | $304 | $309 | $383 | $388 | $460 | $465 | $526 | $531 |
| State Farm | $346 | $378 | $401 | $433 | $445 | $477 | $486 | $518 |
| Nationwide | $496 | $499 | $515 | $518 | $535 | $538 | $559 | $562 |
| Progressive | $457 | $462 | $530 | $535 | $584 | $589 | $637 | $642 |
| Erie Insurance | $365 | $418 | $480 | $548 | $570 | $658 | $658 | $757 |
| Allstate | $515 | $537 | $601 | $623 | $674 | $696 | $736 | $758 |
| Farmers | $581 | $591 | $679 | $689 | $793 | $803 | $908 | $918 |
| Travelers | $913 | $950 | $1,064 | $1,107 | $1,196 | $1,246 | $1,374 | $1,434 |
Condo insurance rates by company in Virginia
Rates for condo insurance by company in Virginia vary. It’s important to shop around and compare quotes to find the best price.
In the table given below, you’ll see condo insurance rates for major companies in Virginia. The cheapest company for condo insurance in Virginia is Universal Insurance Holding. American Family, and IAT Insurance Group, are the second and third cheapest options.
| Company | Average annual rate | Average monthly rate |
|---|---|---|
| Universal Insurance Holding | $309 | $26 |
| American Family | $333 | $28 |
| IAT Insurance Group | $388 | $32 |
| State Farm | $433 | $36 |
| Nationwide | $518 | $43 |
| Progressive | $535 | $45 |
| Erie Insurance | $548 | $46 |
| Allstate | $623 | $52 |
| Farmers | $689 | $57 |
| Travelers | $1,107 | $92 |
Compare condo insurance rates by city in Virginia
Condo insurance rates vary significantly across cities, influenced by various factors, including weather patterns, crime rates, and property values. You must consider these factors and compare quotes from different insurers to get the best deal on condo insurance for your specific city in Virginia.
City Annual insurance premium
Methodology
Insurance.com compared condo insurance rates provided by Quadrant Data Solutions in 2023 for $60,000 of personal property coverage with a $1,000 deductible and $300,000 of liability coverage for all available ZIP codes and with a good credit score. The content was updated in 2024.
Compare Virginia condo insurance rates with other states
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