Chesapeake ,VA Home Insurance - The cost of homeowners insurance is influenced by a range of factors, including the value of your coverage, deductible, and the construction materials used in your home.
VHome Insurance conducted a thorough analysis of the Chesapeake, VA homeowners insurance market, taking into account factors like average costs, range of coverages, deductibles and customer satisfaction ratings to determine the best providers. The Average home insurance cost in Chesapeake, VA is $1460. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Chesapeake, VA. VHome Insurance will help you navigate the world of homeowners insurance coverages in Chesapeake, VA.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $584 |
| $200,000 | $993 |
| $300,000 | $1,226 |
| $400,000 | $1,869 |
| $500,000 | $2,351 |
Home insurance costs in Chesapeake can vary greatly based on location. The frequency of claims in your area can affect the cost of your policy. Simply put, the location of your home can significantly impact your homeowners insurance premium.
| Zipcode | Average Insurance Premium |
|---|---|
| 023320 | $1,378 |
| 23323 | $1,378 |
| 23325 | $1,354 |
| 23324 | $1,337 |
One key aspect of your policy is the deductible, which is the amount you pay out of pocket before your insurance kicks in. Choosing the right deductible can have a major impact on your insurance premiums and overall savings. In this guide, we'll help you understand the options available for homeowners insurance deductibles in Chesapeake, VA, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $1,497 |
| $1000 Deductible | $1,339 |
| $1500 Deductible | $1,263 |
| $2500 Deductible | $1,139 |
| $5000 Deductible | $964 |
| Home Insurance Company Near Chesapeake, VA | Homeowners Insurance Agency Near Chesapeake, VA | Address |
|---|---|---|
| State Farm | B J Willie | 816 W Constance Rd, Suffolk, VA, 23434-5642 |
| Liberty Mutual | Blair James | 5330 Discovery Park Blvd Suite 100, Williamsburg, VA, 23188 |
| State Farm | Jenel Smith | 1428 Kempsville Rd Ste B, Chesapeake, VA, 23320-1418 |
| Travelers | Salzberg Insurance Agency Inc | 249 E LITTLE CREEK RD, NORFOLK, VA, 23505 |
| Travelers | Towne-Lackey-Sauders Insurance Agency | 20 S KING ST, HAMPTON, VA, 23669 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Portsmouth city, Virginia | $108 | $144 | $216 |
| South Mills township, Camden County, North Carolina | $93 | $124 | $186 |
| Moyock township, Currituck County, North Carolina | $95 | $126 | $189 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Chesapeake, VA | 3.3% | 11.7% |
| Portsmouth | 4.0% | 11.65% |
| South Mills | 2.68% | 12.89% |
| Moyock | 2.97% | 15.56% |
| Chesapeake Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| Less than $200 | 375 | 1.0% | $331 |
| $200 to $299 | 413 | 1.0% | $781 |
| $300 to $499 | 652 | 3.0% | $1231 |
| $500 to $749 | 1,781 | 8.0% | $1906 |
| $750 to $999 | 4,914 | 23.0% | $2656 |
| $1,000 to $1,499 | 8,057 | 38.0% | $3781 |
| $1,500 or more | 4,513 | 21.0% | $5431 |
| Streets in Chesapeake Area | Homeowners Insurance Cost |
|---|---|
| Luxford Ct, Bridge Dr, Freemas St, Watercrest Pl, Steeton Ct, Monaco Cir, Sir Tristram Ct, Omar St, Autumn Oaks Dr, Weatherby Ct | $760 |
| Gainsborough Sq, Heathway Trl, Byrd Ct, Butternut St, White Cedar Dr, Kirkwall Ct, Deans Ct, Contrell Ct, Devonshire Dr, Callison Dr | $728 |
| Edgewood Ave, Morningside Dr, Edgewood Arch, Tanglewood Trl, Pepper Tree Ln, Holly Ridge Dr, Bayberry Pl, Paddington Ct, Candlelight Dr, Martin Johnson Rd | $765 |
| Thomas Ln, Decatur St, River Birch Run S, Rice St, Lords Landing Ct, Albemarie Ct, Hagenspring Rd, Ferryman Quay, Virginia Ave, Meadowhill Ct | $764 |
| Epping Ct, Fernwood Farms Ct, Quaker Pl, N Bugle Dr, Kegman Rd E, Gratton St, Saint Andrews Reach, Tangerine Trl, Tournament Dr, Causeway Dr | $769 |
| Coachman Dr, Heritage Cir, Kenny Ln, Jefferson St, Fenway Ave, Gauntlet Ct, Becca Anne Ct, Wisecamp Ct, Red Cedar Ct, Woodards Ford Rd | $727 |
| Challis Dr, Sweet Leaf Pl, Madrid Pl, Water View Cir, Hathaway Ct, Pelham St, Tamer Ave, King Arthur Ct, Pine Grove Ln, Hempstead Ct | $729 |
| Washington Dr, Bishop St, Springdale Rd, Piney Point Way, Royal Ct, Askew Rd, Volvo Penta Dr, Old Dock Landing Rd, Eider Ct, Knells Ridge Dr | $771 |
| Maple Forest Ct, Wildwood Rd, Rystrom Run, Habitat Xing, Fisher Ave, King Richard Way, Larkspur Ln, Waverton Ct, Saint Lawrence Dr, Marsh Island Dr | $760 |
| Hinksley Ct, Harbor Watch Dr, Sawtooth Cir, Ridge Cir, Channing Way, Monroe Ct, Rhodes St, Mathews Ct, Hilltop Ct, Twin Cedar Trl | $765 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Chesapeake | $112 to $114 |
| Portsmouth | $108 |
| South Mills | $93 |
| Moyock | $94 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $500 | $3,500 |
| Yearly Chesapeake Homeowner Insurance Premium Example | $1,300 | $800 |
| Out of Pocket Expense During Claim | $500 | $3,500 |
| Total Home Insurance Premium for 7 years + Out of Pocket Expense for Claim | $9,600 | $9,100 |
| Net Savings to Chesapeake Home Owner from High Deductible Plan | $500 | |
| Scenario | Chesapeake, VA Home Replacement Value MORE than Home Value | Chesapeake, VA Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $325,000 | $230,500 |
| Insurance Premium based on Replacement Value | $1,875 | $1,325 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $25,500 | Risk Exposure from Under Insuring Coverage is $69,000 |
| Premium Impact | Insurance cheaper by $400/year | Insurance costlier by $150/year |
| Insurance Company | State Farm | Allstate | Erie Insurance |
| Monthly Premium | 38 | 90 | 153 |
| Year Built | 2003 | 1999 | 2012 |
| Home Details | 3 Beds, 2 Baths | 4 Beds, 1 Baths | 5 Beds, 3 Baths |
| Coverage Amount | $200000-$250000 | $250000-$300000 | $400000-$500000 |
| Deductible | > $10,000 Deductible | $500- $1000 Deductible | $500 Deductible |