Virginia variant. This is a Virginia-specific version of the Homeowners Insurance Estimator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Homeowners Insurance Estimator.
Homeowners insurance in Virginia typically runs about 0.30%–0.40% of home value per year. On the $395,000 median home, that's roughly $1,383 annually.
What Virginia homeowners insurance covers
Premiums fund dwelling coverage, personal property, liability, and loss of use. Virginia's $395,000 median home value sets the baseline dwelling coverage and therefore the premium.
Local risk - wildfire, hurricane, hail, flood - drives big swings. Flood is separately insured. Use the estimator to refine the Virginia average for your build cost and deductible.
About taxes and housing in Virginia
Virginia levies a graduated income tax with a top marginal rate of about 5.75%.
Virginia's effective property tax rate is moderate near 0.75%, with median home values around $395,000.
Virginia's economy is heavily influenced by the federal government, military installations, and a large defense and technology sector in Northern Virginia.
Worked example: $395,000 home
$395,000 × 0.35% ≈ $1,383/year ($115/month). Replacement-cost coverage, not market value, ultimately sets the premium - land value is excluded.
Quick reference
- State income tax: 2-5.75% across 4 brackets
- State sales tax: 5.3% (plus 0.47% avg local)
- Median home value: $395,000
- Median household income: $87,249
- Effective property tax rate: 0.75%
- Avg auto insurance: $1,310/yr
Frequently Asked Questions
How much is homeowners insurance in Virginia?
Roughly $1,383/year on the $395,000 median home, varying with local catastrophe risk.
Does homeowners insurance cover floods in Virginia?
No - flood coverage is purchased separately through the NFIP or private insurers.