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How to find affordable home insurance in Chesapeake

 

Among the most important aspects of owning a home is homeowners insurance. Fire, vandalism, theft and wind damage are only a few of the perils from which homeowners insurance can protect your dwelling and other personal belongings. Incidents like this occur often. When compared to the high cost of repairing or rebuilding a house, investing in a homeowners policy is a wise choice.

The cost of home insurance depends on many factors. This can include the overall value of your house, the value of your personal belongings, and the materials that were used when building your home. The location of your dwelling can also play a large role in how much you pay for home insurance. Some geographic areas are susceptible to perils such as hail, wildfires, pipe freezes, volcanoes, and other hazards. These perils can lead to more expensive homeowners insurance rates. Learn more info about what your homeowners insurance policy covers.

Finding affordable home insurance in Chesapeake starts with shopping around and comparing policies. Take a look at the summary below showing average Chesapeake homeowners insurance costs to ensure you start your search with as much background info as possible. Remember: your homeowners insurance costs may vary based on your coverage limits and other factors.

 
Chesapeake, Virginia, homeowners insurance — table of contents:
  1. Rates by company
  2. Rates by coverage amount
  3. Rates by ZIP code
  4. Rates by deductible amount
  5. Insurance bundle discounts
 

 

Homeowners insurance in Chesapeake by insurance company

Homeowners insurance rates in Chesapeake vary from one insurance company to another. The most inexpensive home insurance in Chesapeake comes from Nationwide, which offers average annual rates of just $1,007 per year. This is less than the city’s average homeowners premium of $1,673.

Take a look at the cheapest insurance companies in Chesapeake, Virginia to find the right home policy for you.

 
CHEAP HOMEOWNERS INSURERS IN CHESAPEAKE
Company Average Annual Rate
Nationwide $1,007
State Farm $1,016
Safeco $1,373
Erie $1,572
Allstate $1,752
 

 

Average homeowners insurance prices in Chesapeake by coverage limit

Your chosen level of homeowners coverage impacts the insurance premiums you pay. In Chesapeake, carrying $200K dwelling coverage costs an average of $1,160, while carrying additional coverage up to $400K costs $2,134/year.

 
HOMEOWNERS INSURANCE RATES IN CHESAPEAKE — POPULAR COVERAGE LIMITS
Coverage Level Average Annual Rate
$100K Dwelling $742
$200K Dwelling $1,160
$250K Dwelling $1,413
$400K Dwelling $2,134

 

Chesapeake homeowners insurance prices by ZIP code

Depending on the part of Chesapeake you live in, you might see vastly different home insurance costs. The number of claims filed in your local area can be a factor in determining the price of your policy. Put simply, the location of your home could have a huge impact on how much you pay for insurance.

To find the most affordable home insurance rates in Chesapeake, look no further than 23320. In the 23320 ZIP, homeowners coverage usually costs just $1,608 per year: $64 less than the Chesapeake average. If you’re looking for the areas with the most affordable homeowners insurance in Chesapeake, reference the table below.

 
AFFORDABLE AREAS FOR HOMEOWNERS INSURANCE IN CHESAPEAKE
ZIP Code Average Annual Home Insurance Rate
23320 $1,608
23321 $1,630
23322 $1,674

Other areas of Chesapeake, it should be noted, face homeowners rates that are higher than the city average. Property crime rates, fire risk, and even your proximity to emergency services such as fire and police stations could impact rates the risk level of certain parts of the city, which has the potential to drive up area rates. With an annual average premium of $1,720, 23325 comes in as the priciest ZIP code in Chesapeake for homeowners insurance.

 
EXPENSIVE AREAS FOR HOMEOWNERS INSURANCE IN CHESAPEAKE
ZIP Code Average Annual Home Insurance Rate
23325 $1,720
23323 $1,707
23324 $1,697

 

Home insurance deductibles in Chesapeake

Among the many choices faced by homeowners when shopping for homeowners insurance is how high to set the deductible. A deductible is an amount for which a homeowner is responsible before the insurer will cover a claim. Where you choose to set your homeowners deductible is directly related to the overall cost of your coverage.

Put simply, a higher deductible translates to lower insurance rates. As such, if you want your insurance rates to stay low, aim for a higher deductible. Bear in mind that your deductible should not be so high that you would struggle to pay it in the event of a loss.

Below you'll find some common deductibles offered by most home insurance companies as well as with related average insurance premiums.

 
HOMEOWNERS INSURANCE COSTS BY DEDUCTIBLE LEVEL IN CHESAPEAKE
Deductible Level Average Annual Home Insurance Rate
$500 $1,507
$1,000 $1,413
$1,500 $1,341
$2,000 $1,276
$5,000 $1,113

 

Money-saving tip for home and auto insurance in Chesapeake: bundling

To save a little money, you might consider bundling your homeowners and auto insurance policies through the same company. Bundling your homeowners and auto insurance can save you a substantial sum each month on your auto insurance bill. Bundling policies in Chesapeake could lead to average annual savings of 7%.

 
CHEAPEST CAR INSURANCE WITH A POLICY BUNDLE IN CHESAPEAKE
Company Avg. Annual Auto Insurance Rate (With Bundle)
GEICO $760
USAA $788
State Farm $817
Erie $822
Progressive $905

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Ross Martin
Ross MartinManager, Content Quality

As a licensed insurance agent, Ross researches and writes insurance content intended to help users make informed decisions.

Ross's background is in writing and education. He holds a master's degree from Royal Holloway, University of London.

Ross's work has been cited by The New York Times, Investopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance

About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.

  • The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.

  • The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.

  • The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.

  • The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.