Best Renters Insurance in Virginia

Getting the best renters insurance for your needs might be easier said than done with the seemingly countless options available that you see on television and billboards.

This guide aims to help you make informed decisions and get the best renters insurance in Virginia by breaking down what you need to know.

Renters insurance in Virginia costs about $181 annually or about $15 per month. Rates from select carriers ranged from $13 to $21 per month.

When it comes to the average cost of renters insurance, Virginia rates vary based on coverage amounts, location, and more. Nevertheless, renters insurance is always cheaper than homeowners insurance or landlord insurance for the same properties because renters insurance doesn’t cover the structure of a home at all.

Take a look at rates of average renters insurance in Virginia from some large providers in the state.

State Farm and Allstate offer cheap renters insurance in Virginia, according to our findings. Farmers and Travelers had annual rates of over $200 annually, making them notably more costly on average.

It’s always a good idea to obtain multiple quotes when looking for cheap renters insurance in Virginia since premiums will vary. You may experience rates lower than the averages in our table depending on your location, personal factors, and company situation at that time.

For instance, renters in areas with high crime rates may pay more for coverage to offset increased chances of theft and vandalism. Also, homes on Virginia’s coast are prone to hurricane damage, which could also raise premiums for renters living near the beach.

Virginia has over 180 active home insurers in the state, many of which will write renters insurance coverage. Consult family and friends for suggestions on where to begin your search. You can also look online to see which companies have good reviews.

Regardless of your chosen company, every provider has similar coverages in their plans.

Renters insurance in Virginia covers you and your family from various damage sources insurance companies refer to as perils. The most frequent perils include theft, vandalism, fire, and wind damage. Your policy is divided into sections that cover different areas of your life from these perils.

You’ll need to compare quotes from a few different providers to get the best renters insurance in Virginia. There’s no other way to know you’re getting the best deal.

 You may also need to alter your policy slightly to suit your needs, such as establishing coverage limits that differ from the default.

To get the best renters insurance in Virginia, consider the following:

Adjusting personal property coverage limits: you should have enough personal property coverage to reimburse you for all your items in a worst-case scenario. But, getting too much personal property coverage means you’re overpaying for protection you’d never use. Make a home inventory to determine exactly what to make your personal property limit and get the amount that covers the value of your belongings to the tee.

Raising liability limits above the minimum: the best rental insurance in Virginia will have more than $100,000 in liability coverage. Carriers often recommend between $300,000 and $500,000 limits since medical expenses can rack up quickly after a serious injury. 

Someone pursuing you for damages likely wants as much as they can get, so don’t leave yourself on the hook by skimping on liability coverage. Have enough to safely cover your assets so you’d never have to pay out of pocket for someone else’s accidental injury.

Considering endorsements: many carriers offer endorsements to make up for common coverage gaps that sometimes plague renters, such as water backup or equipment breakdown coverage. Additionally, think about a permitted incidental occupancies endorsement if you conduct business out of your rental.

You should also consider scheduling any especially valuable items you may own, such as art, jewelry, and memorabilia since these are subject to sub-limits and not fully insured by default.

Alexandria is the sixth-largest Virginia city and a popular place to rent. Roughly half of the housing units in the town are tenant-occupied. All renters need renters insurance in Alexandria to protect their belongings and liability.

Due to its proximity to Washington, D.C., many residents of Alexandria are professionals working for the federal government. People with valuable possessions should get enough renters insurance to protect them sufficiently. Renters in homes with more space for their stuff may need higher personal property limits and have higher premiums than those in apartments.

Alexandria is relatively safe from tornadoes and hurricanes, but it’s prone to flooding due to its low elevation and proximity to the Potomac River. Renters insurance won’t cover damage directly caused by flooding. Still, you may pay higher premiums for coverage if renting in a flood zone due to the increased chances of property loss.

No, renters insurance isn’t mandatory in Virginia, according to the law. However, some landlords will require tenants to get renters insurance as part of lease agreements.

It’s becoming more common for landlords and property management companies to require renters insurance in their lease agreements, especially in apartment complexes. In apartments with common areas and many other residents, the odds of a liability claim are greater than at a single-family home with the same residents occupying and visiting the space.

Having every tenant maintain personal renters insurance eases the property owner’s and other tenants’ liability. Some landlords may even want to be an additional interest in your policy.

An additional interest on an insurance plan will be notified if the policyholder cancels or changes the plan. This is a way for your landlord to verify that you’re keeping your coverage for the life of your lease. They can’t file claims and don’t receive any coverage under your policy.

Get the power of an independent insurance agency at your fingertips when you get renters insurance quotes in Virginia with Clovered. Use our online quoting tool to compare multiple renters insurance policies in your area at once.

Clovered was founded with the goal of simplifying the insurance buying process. If you want to speak with someone for help with your quote, one of our licensed agents would be happy to help you find the right plan. Call us at 833-255-4117, or email us at [email protected] with any questions.