Virginia is not only for lovers; it’s also a great place for renters. College towns like Blacksburg, Va., Charlottesville, Va. and the Washington, D.C., metro area are full of renters. Whether you’re renting as a college student or federal government employee, renters insurance offers critical protection for your belongings and more.
Some big names in insurance offer renters insurance at rates below the state average. We at the MarketWatch Guides team examined the best renters insurance options in the Old Dominion to help you find the provider that best meets your needs.
Best Renters Insurance in Virginia
After in-depth research, we found that Virginia’s best renters insurance providers are:
- Lemonade Our Top Pick
- State Farm Best Customer Experience
- Nationwide Best for Customizable Coverage
- Progressive Best for Bundling
- Erie Best for In-Person Experience
Cheapest Renters Insurance in Virginia
The following chart shows the cheapest renters insurance providers in Virginia based on our research. Just remember that price, while important, shouldn’t be the only consideration when choosing your insurer. We recommend considering whether the provider offers the right mix of basic coverage options, add-on protections and pricing to match your specific needs.
| Insurance Company | Average Monthly Premium |
|---|---|
| Chubb | $7 |
| Lemonade | $10.24 |
| State Farm | $11 |
| American Family | $12 |
| Progressive | $12 |
The Best Virginia Renters Insurance in Detail
Let’s dive into the details of each of our recommended Virginia renters insurance options.
Lemonade is a digital-first insurer that leverages AI to offer estimates in just a few minutes, making it ideal for Virginia renters looking for a simple signup process. AI helps the company maintain its reputation for providing fast claims settlements. Lemonade also performed well in J.D. Power’s renters insurance customer satisfaction study.
The insurer offers only a few discounts, but its basic coverage is competitively priced at just over $10 per month — this is lower than many of the other providers we reviewed.
Offers a straightforward and quick digital quote process using AI
Received one of the highest scores in J.D. Power’s renters insurance customer satisfaction study
Donates a portion of excess premiums to a charity of your choosing through its give-back program
Is not rated by AM Best, although it has an A rating from competitor Demotech*
*We reached out to Lemonade about not being rated by AM Best but did not receive a response
Lemonade only offers two discounts for renters insurance, but it compensates for this by offering a low base price. Virginia renters might be able to save on their policies by qualifying for these discounts:
- Bundling (with auto insurance, for example)
- Protective devices
The insurer offers a solid menu of endorsements, which includes:
- Equipment breakdown
- Lost or stolen expensive property
- Pet damage to belongings
- Water backup damage
- Water damage
State Farm is a strong option for those seeking budget-friendly premiums from a trusted name. It also offers a strong customer experience, based on its strong results in our February 2025 survey and the J.D. Power Home Insurance Study. Based on our research, the company offers Virginia renters coverage at an average of $11 per month. However, your estimate can vary as it will depend on your specific situation.
Charges affordable rates compared to other providers we reviewed and the state average of $15 per month
Received an above-average score in J.D. Power’s renters insurance customer satisfaction study
Provides prospective customers with online quotes within minutes
Has only a limited number of additional coverage options available*
*We reached out to State Farm about their limited number of additional coverage options but did not receive a response.
You can generally qualify for these discounts with State Farm:
- Bundling
- Home protection
Those looking for extra coverage can purchase these endorsements:
- Earthquake damage
- Identity restoration
- Personal liability umbrella policy
- Pet medical insurance
Nationwide may be a good fit for Virginia renters who want extra protection and customizable plans through endorsements. It offers some of the most useful add-on coverages for Virginia residents, including new belongings coverage — more commonly known as RCV coverage — which values your items based on the price to buy them new rather than their depreciated value.
To help protect renters from flood damage, which is common during Virginia summers, policyholders can purchase a separate flood insurance policy through State Farm.
Offers more valuable additional coverages than many of the competitors that we’ve reviewed
Lets you purchase a separate flood insurance policy
Charges rates below the Virginia average, according to our cost data
Ranked fourth-lowest in the 2024 J.D. Power customer satisfaction study for renters insurance, well below the average
Has the highest average monthly premium on this list despite still being below the state average of $15, according to our cost data
*We reached out to Nationwide for comment regarding its J.D. Power score and high monthly premium but we did not receive a response.
You may be able to lower your Nationwide renters insurance premiums with these discounts:
- Claims-free
- Multiple policies
- Protective devices
The insurer’s valuable additional coverage options include:
- Brand-new belongings
- Earthquake
- Theft extension
- Valuables plus
- Water backup
With rates below the Virginia average and discounts for bundling other types of coverage, Progressive is a fine option for budget-conscious Old Dominion renters. If you bundle auto and renters policies with Progressive, you may benefit from a feature that charges you just one deductible for claims that affect both policies.
Progressive received an overall satisfaction score of 99% in our 2025 renters insurance survey. However, like Nationwide, the provider didn’t fare well in the J.D. Power renters insurance study, ranking No. 14 out of 15 with a below-average score.
Offers rates below the Virginia state average
Provides 24/7 customer support
Offers a single-deductible benefit, saving bundlers money for claims that affect multiple Progressive policies
Doesn’t provide an identity theft protection add-on, unlike State Farm and Nationwide, although it’s available as a separate policy
Ranked next to last in the 2024 J.D. Power renters insurance study
*We reached out to Progressive for comment regarding its J.D. Power score and lack of identity theft protection add-on but we did not receive a response.
Progressive helps renters save with these discounts:
- Advance quote
- Multi-policy
- Pay in full
- Secured or gated community
The company also lets you purchase these endorsements:
- Personal injury
- Scheduled personal property
- Sewer and drain backup
Erie can suit Virginia renters who prefer working with an agent in person to find the right policy instead of getting an online estimate. The company has a vast network of local agents, and its website can help you locate your nearest one by filling out a short form that asks for your address and preferred language. Its agents can help you understand your specific risks and purchase a policy that fits your needs.
In our 2025 renters insurance survey, Erie policyholders nationwide gave the provider a perfect 100% for overall satisfaction. The company also ranked No. 1 in the 2024 J.D. Power customer satisfaction study for renters insurance, which is a sign that current policyholders are happy with their coverage.
Offers rates below the Virginia state average, according to our cost data
Boasts a vast network of local agents, making it easy to connect with an agent by phone or in person who understands your unique insurance needs
Provides many valuable discounts
Does not offer online estimates, which delays coverage signup until you can talk to an agent
Provides limited information on its website, requiring that you work with an agent to get coverage
You can save on your policy with the company by earning these discounts:
- Advance quote
- Age of insured
- Multi-policy
- Safety
The company also lets you purchase these endorsements:
- Earthquake
- Home sharing
- Sewer and drain backup
We reached out to Erie for comment regarding these negative reviews. Rob Lee, spokesperson for Erie responded,
“Erie Insurance has been committed to the local, independent agent service model for over 100 years because it offers the best value to policyholders. Working with a trusted local agent in Virginia allows customers to receive personalized advice on the right coverage at the right price. Our agents are a key reason why Erie Insurance consistently ranks highest in customer satisfaction and maintains one of the strongest customer retention rates in the insurance industry — each year, more than 91% of our policyholders choose to stay with Erie Insurance because we consistently deliver the coverage and personalized service they expect.”
How Much Does Renters Insurance Cost in Virginia?
Renters insurance costs $14.71 monthly on average in Virginia, but coverage is available for as little as $7.18 from Chubb. The price you pay for renters insurance will depend on a variety of factors that insurance companies analyze to determine how risky it will be for them to insure you and your rental unit. Discounts also affect your pricing. Make sure to get quotes from at least three insurance companies to ensure you’re paying a fair price for coverage. Keep in mind that the cheapest coverage isn’t always the best, so it’s a good idea to thoroughly research providers.
| Personal Property Amount | Average Renters Premium |
|---|---|
| $15,000 | $12.85 |
| $25,000 | $14.71 |
| $50,000 | $19.65 |
| $75,000 | $21.45 |
Cheapest Renters Insurance in Virginia Cities
The cost of coverage varies greatly depending on the city you reside in due to factors including crime rates and distance from the coastline. To get a better picture of what you can expect to pay in your area, the following chart shows average renters insurance costs and the cheapest provider in 15 of Virginia’s most populous cities (based on population data analyzed by Stanford University researchers):
| City | Average Premium | Cheapest Provider | Cheapest Provider Premium | Difference from City Average |
|---|---|---|---|---|
| Alexandria | $13.51 | Chubb | $7.00 | -$7 |
| Arlington | $13.46 | Chubb | $7.50 | -$6 |
| Centreville | $13.62 | State Farm | $7.50 | -$6 |
| Chesapeake | $17.57 | Chubb | $8.17 | -$9 |
| Dale City | $14.38 | Chubb | $6.92 | -$7 |
| Hampton | $18.03 | Chubb | $8.17 | -$10 |
| Lynchburg | $14.36 | Chubb | $6.83 | -$8 |
| Newport News | $17.03 | Chubb | $7.83 | -$9 |
| Norfolk | $18.24 | Chubb | $8.67 | -$10 |
| Portsmouth | $18.16 | Chubb | $8.17 | -$10 |
| Reston | $13.61 | State Farm | $7.50 | -$6 |
| Richmond | $16.03 | Chubb | $7.95 | -$8 |
| Roanoke | $13.71 | Chubb | $6.83 | -$7 |
| Suffolk | $16.30 | Chubb | $7.00 | -$9 |
| Virginia Beach | $18.18 | Chubb | $9.00 | -$9 |
How To Save on Renters Insurance
You could save on renters insurance in Virginia by adjusting your deductible, taking steps to protect your property and shopping around. Here are some more detailed tips:
- Modify your deductible: You can lower your monthly renters insurance rate by choosing a higher-deductible policy. Your premiums will go down, but be prepared to pay more when you file a claim. We recommend choosing a deductible amount that won’t burn a hole in your pocket if any damage occurs.
- Improve your home security: Some insurers, such as Lemonade, provide discounts for having devices that deter burglary. These features include burglar alarms, surveillance cameras, deadbolt locks and smart home devices.
- Compare rates: One of the most straightforward ways to get a fair renters insurance rate is to compare rates from several insurance providers. Because each insurer underwrites its policies using different methodologies, you might end up with vastly different quotes.
Common Renters Insurance Claims in Virginia
Damage from severe weather, property crimes and personal liability are three reasons that renters in Virginia file renters insurance claims.
Severe Weather
Virginia homes are susceptible to flash flooding, tail ends of hurricanes traveling up the coast and snowstorms, all of which can cause damage to your personal belongings and even make your residence unlivable. When you file a claim for a covered loss, your renters insurance provider will help you recoup the cost of replacing your belongings and additional living expenses if you are temporarily displaced. Note that not all renters insurance plans cover all extreme weather events, so check your renters insurance coverage before enrolling or filing a claim.
Property Crimes
Burglaries in Virginia have been trending lower over the past several years, according to the state’s most recent annual crime report. Still, home burglaries accounted for 65% of the 10,501 burglaries reported in the Old Dominion in 2023.
Although property crime is relatively low throughout the state, theft is still a common occurrence, and renters insurance can cover the cost of replacing your stolen items. However, these lower-than-average numbers of property crimes also mean that Virginians enjoy, on average, lower renters insurance rates than residents of states with more crime.
Personal Liability
Renters insurance provides personal liability protection, covering costs associated with a covered incident. This coverage may be triggered if someone is injured while on your rental property and you are found responsible. In this case, your renters insurance can help cover the legal fees associated with defending yourself in court and the payment of damages awarded to the injured party.
Interestingly, Virginia’s contributory negligence law indicates that, in order for you to be legally responsible for someone else’s injuries while in your home or apartment, you must be 100% at fault for the accident.
Is Renters Insurance in Virginia Worth It?
Although it’s not mandatory, we found that purchasing renters insurance is often worth it for Virginia renters. Policies are generally affordable and provide broad protection for your personal property, giving you peace of mind that your belongings will be repaired or replaced if a covered peril strikes.
Frequently Asked Questions About Virginia Renters Insurance
It’s common for a renters insurance policy to provide at least $25,000 in personal property coverage and $100,000 in liability coverage. However, what constitutes sufficient coverage for you depends on the value of your rental property.
Renters insurance is not mandatory in Virginia, but your landlord can require it. Regardless of whether it’s required, we recommend purchasing a policy to gain affordable financial protection from covered losses to your personal property.
Based on our research, the average cost of renters insurance in Virginia is $14.71 per month. How much you’ll pay for renters insurance depends on your unique situation, as the insurer considers several factors to determine your price.
