Norfolk ,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 Norfolk, 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 Norfolk, VA is $1428. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Norfolk, VA. VHome Insurance will help you navigate the world of homeowners insurance coverages in Norfolk, VA.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $571 |
| $200,000 | $971 |
| $300,000 | $1,200 |
| $400,000 | $1,828 |
| $500,000 | $2,299 |
Home insurance costs in Norfolk 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 |
|---|---|
| 023507 | $1,453 |
| 23510 | $1,403 |
| 23508 | $1,404 |
| 23517 | $1,409 |
| 23505 | $1,379 |
| 23518 | $1,359 |
| 23503 | $1,352 |
| 23502 | $1,346 |
| 23509 | $1,340 |
| 23504 | $1,345 |
| 23523 | $1,336 |
| 23513 | $1,332 |
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 Norfolk, VA, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $1,464 |
| $1000 Deductible | $1,309 |
| $1500 Deductible | $1,235 |
| $2500 Deductible | $1,114 |
| $5000 Deductible | $942 |
| Home Insurance Company Near Norfolk, VA | Homeowners Insurance Agency Near Norfolk, VA | Address |
|---|---|---|
| Liberty Mutual Independent | Bell Insurance Agency Corporation | 3213 VIRGINIA BEACH BLVD, VIRGINIA BEACH, VA, 23452 |
| Travelers | Beskin & Associates Inc | 300 Southport Circle Virginia Beach, Virginia Beach, VA, 23452 |
| Farmers | Krystal Jones-Dent | 5900 E Virginia Beach Blvd Ste 204, Norfolk, VA, 23502 |
| Nationwide | Robertson Insurance Agency Co. | 5441 Virginia Beach Blvd STE 108, Virginia Beach, VA, 23462 |
| Farmers | Travis Mansell | 4968 Euclid Rd Ste E, Virginia Beach, VA, 23462 |
| 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 |
| Hampton city, Virginia | $109 | $145 | $218 |
| Poquoson city, Virginia | $115 | $153 | $230 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Norfolk, VA | 3.7% | 11.6% |
| Portsmouth | 4.0% | 11.65% |
| Hampton | 3.94% | 12.88% |
| Poquoson | 3.26% | 10.53% |
| Norfolk Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| Less than $200 | 1,376 | 3.0% | $340 |
| $200 to $299 | 1,370 | 3.0% | $790 |
| $300 to $499 | 1,941 | 4.0% | $1240 |
| $500 to $749 | 7,223 | 15.0% | $1915 |
| $750 to $999 | 14,904 | 32.0% | $2665 |
| $1,000 to $1,499 | 13,469 | 29.0% | $3790 |
| $1,500 or more | 5,040 | 11.0% | $5440 |
| Streets in Norfolk Area | Homeowners Insurance Cost |
|---|---|
| E 18th St, Bridle Way, Woronoca Ave, Hyde Park Rd, Alma Dr, Prince Edward Way, Rosmar Ct, Rialto Pl, Graydon Ave, Malmgren Ct | $798 |
| Hartwick Dr, Yorktown Dr, Spaulding Dr, Hanson Ave, Beach View St, Bellevue Ave, Eltham Ave, Charlney Ave, Cape Henry Ave, Suburban Pkwy | $718 |
| Nathan Ct, Enfield Ave, Warwick Ave, Paul St, May Ave, E Lorengo Ave, E Liberty St, Woodall Rd, Merritt St, Chapel St | $724 |
| Chryslon Ln, Murray Ct, W 48th St, Vaiden St, Caliente St, Frank St, New Jersey Ave, Cross St, 5th Bay St, Flowerfield Ct | $747 |
| Botetourt St, Miller Store Rd, Mayfield Ave, Nancy Ct, Chambers St, Meadowlawn Dr, Croft St, Quarantine Rd, Aspin St, Lowery Ct | $725 |
| Doris Dr, Santos St, Lucas Ave, Coventry Ln, Beamon Rd, Ridgeley Rd, Toam St, W 44th St, Burleigh Ave, Rhode Island Ave | $773 |
| Cedar Ln, Walters Ct, Paddock Rd, Mount Vernon Ave, Broadway St, W Tanners Creek Dr, Bowwood Ln, Woodland Ave, Raleigh Ave, Catherine St | $782 |
| Pickett Rd, Jarrett Rd, Forsythe St, W 37th St, S Military Hwy, Garrett Ave, Cougar Ct, Waukesha Ave, Lucas Ave, Matoaka St | $766 |
| Chapin St, Rose Ave, Hartford Dr, Hacienda St, Poplar Hall Dr, Childrens Ln, Forbes St, Harvey Ct, A View Ave, Walters Dr | $733 |
| Midfield Rd, Columbia Ave, Orleans St, W 42nd St, Isaac St, Meads Rd, Bartin St, W 50th St, Bellinger Blvd, Nipsic Arch | $788 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Norfolk | $109 to $111 |
| Portsmouth | $108 |
| Hampton | $109 |
| Poquoson | $114 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $1,100 | $2,100 |
| Yearly Norfolk Homeowner Insurance Premium Example | $900 | $700 |
| Out of Pocket Expense During Claim | $1,100 | $2,100 |
| Total Home Insurance Premium for 8 years + Out of Pocket Expense for Claim | $8,300 | $7,700 |
| Net Savings to Norfolk Home Owner from High Deductible Plan | $600 | |
| Scenario | Norfolk, VA Home Replacement Value MORE than Home Value | Norfolk, VA Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $236,500 | $153,500 |
| Insurance Premium based on Replacement Value | $1,325 | $850 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $54,000 | Risk Exposure from Under Insuring Coverage is $29,000 |
| Premium Impact | Insurance cheaper by $175/year | Insurance costlier by $300/year |
| Insurance Company | State Farm | Nationwide Insurance | Allstate |
| Monthly Premium | 79 | 58 | 93 |
| Year Built | 1994 | 1960 | 1940 |
| Home Details | 4 Beds, 3 Baths | 2 Beds, 1 Baths | 5 Beds, 3 Baths |
| Coverage Amount | $200000-$250000 | $175000-$200000 | $250000-$300000 |
| Deductible | $2500-$5000 Deductible | $5000 to $10,000 Deductible | $500 Deductible |