Find affordable homeowners insurance in Richmond
Home insurance should be a critical consideration for every homeowner. Along with your personal property, homeowners insurance covers your dwelling against many different perils, including fire, wind damage, vandalism, and theft. Incidents like this occur frequently. When paired with the high cost of repairing or rebuilding a house, purchasing a far-reaching homeowners policy can seem like a great idea.
What you pay for homeowners insurance depends on myriad factors, including the value of the dwelling, the value of your personal items, and the materials used to construct the home. Location also plays a role in determining the price of your homeowners insurance policy. In areas prone to perils likewindstorms, hail, fire, or even theft , home insurance policies may be more expensive to account for the extra risk. Find out more info about the specifics of home insurance coverage.
If you want to find inexpensive home insurance coverage in Richmond, start with shopping around and comparing policies. Take a look at the summary below showing average Richmond homeowners insurance costs to ensure you start your search with as much background info as possible. It's important to remember that the cost of your homeowners insurance is often based on the coverage limits you choose as well as a variety of other factors.
Richmond, Virginia, homeowners insurance:
Home insurance in Richmond by insurance company
What you pay for homeowners insurance in Richmond will depend on the insurance company you get your policy through. The most affordable home insurance in Richmond is Travco offering average annual rates at just $736 per year. This is considerably cheaper than the city’s average homeowners premium of $1,011.
Below you'll find a list of the cheapest homeowners insurance companies in Richmond, Virginia to help you start your search.
CHEAP HOMEOWNERS INSURANCE COMPANIES IN RICHMOND
| Company | Average Annual Rate |
| Travco | $736 |
| Safeco | $777 |
| Nationwide | $954 |
| State Farm | $1,076 |
| Erie | $1,077 |
Average homeowners insurance costs in Richmond by coverage level
How much you spend on home insurance coverage is greatly affected by the level of coverage you choose. In Richmond, carrying $200K dwelling coverage costs an average of $727, while carrying additional coverage up to $400K costs $1,296 per year.
HOMEOWNERS INSURANCE RATES IN RICHMOND — POPULAR COVERAGE LIMITS
| Coverage Level | Average Annual Rate |
| $200K Dwelling | $727 |
| $400K Dwelling | $1,296 |
Richmond home insurance rates by ZIP code
Depending on which part of Richmond you live in, you could see a big difference in your home insurance costs. One of the factors that insurers use when pricing your coverage is the number of claims filed in your surrounding area. As such, your neighborhood's location can dramatically influence your home insurance rates.
The cheapest home insurance rates in Richmond are available in 23227. In 23227, the typical home insurance policy costs $989 per year — $22 less than the citywide average in Richmond. If you’re looking for the areas with the least costly homeowners insurance rates in Richmond, have a look at the table below.
AFFORDABLE AREAS FOR HOMEOWNERS INSURANCE IN RICHMOND
| ZIP Code | Average Annual Home Insurance Rate |
| 23227 | $989 |
| 23230 | $994 |
| 23236 | $999 |
On the other hand, some areas of Richmond face higher homeowners insurance costs, on average. Crime rates, fire risk, and even your how close you are to emergency services could lead insurance companies to see certain neighborhoods as higher risk, which could drive up area rates. An average annual rate of $1,069 makes 23298 the most expensive ZIP code in Richmond for homeowners insurance.
EXPENSIVE AREAS FOR HOMEOWNERS INSURANCE IN RICHMOND
| ZIP Code | Average Annual Home Insurance Rate |
| 23298 | $1,069 |
| 23232 | $1,050 |
| 23219 | $1,022 |
Money-saving tip: bundle home and auto insurance in Richmond
If you’re seeking ways to save on your overall insurance costs, consider purchasing your home and auto policies from the same insurance company. Bundling your homeowners and auto insurance can save you a substantial sum each month on your auto insurance bill. In fact, bundling policies in Richmond leads to average annual savings of 7%.
CHEAPEST AUTO INSURANCE RATES WITH HOME BUNDLE IN RICHMOND
| Company | Avg. Annual Auto Insurance Rate (Bundle) |
| USAA | $775 |
| Erie | $855 |
| State Farm | $870 |
| GEICO | $877 |
| Progressive | $949 |
It's definitely worth considering bundling both your auto and home policies as a potential way of saving money. Call 855-493-9728 to speak with an insurance specialist today.