You are not required to carry renters insurance per Virginia state law. However, before letting you move in, your landlord or the property management company can insist that you purchase renters insurance. Even if it’s not necessary, having coverage to protect your belongings may be a good argument for getting rental insurance. Policies for Virginia renters insurance are frequently affordable and can shield you from covered risks that could cause financial loss.
Coverages for renters’ insurance in Virginia
View the four standard protections that almost all Virginia renters insurance policies include:
- Your personal items, such as furniture, clothing, and electronics, are protected by personal property.
- If you are unable to live in your home while it is being repaired or rebuilt because of a covered loss, loss of use coverage helps pay costs associated with an increase in living expenditures, up to your policy’s limit.
- In the event that you are found legally liable for the injuries or property damage of another person, personal liability insurance will cover you financially.
- Medical payments to others compensate for medical costs resulting from an insured event.
The finest renters insurance in Virginia is always a plan with personalized coverage limitations for tenants renting apartments, condominiums, or homes. When you require more options for protection, consider these:
- Your renter’s insurance may have particular exclusions for some pricey goods, such as jewelry, fine art, and collectibles. If your possessions go over the limit, you might be able to “install a rider”—a policy endorsement—to cover the item for its full replacement cost.
- If you are responsible for slander or defamation, you may be required to pay legal fees and damages.
- Water backup: Your regular renter’s policy could not provide coverage for water that backs up through drains, sewers, or sump pumps. Your possessions’ damage and the costs associated with water removal may be covered by water backup insurance.
- Find out more about the insurance options for renters.
Common claims in Virginia
In a state like Virginia, which has a sizable portion of the Atlantic Ocean shoreline, weather-related disasters are frequent. Hard rain and hurricanes can affect several areas of the state. Up to the policy’s limitations, your Virginia renters insurance policy may cover damaged personal property as a result of a covered risk (minus your deductible).
Cheap renters insurance quotes in Virginia
The most economical renters insurance in Virginia is provided by Lemonade. On average, a Lemonade policy costs $9 per month or $106 annually. That is 43 percent less expensive than the state average.
In Virginia, renters insurance typically costs $15 a month or $185 a year.
In Virginia, Lemonade offers the best renters insurance for the majority of consumers. It has excellent customer service ratings and provides the state’s lowest renters insurance rates. Lemonade renters insurance typically costs $9 per month or $106 annually. The average cost of coverage in the state is $6 a month more expensive than this.
Despite being the cheapest insurer, Lemonade only provides Virginia tenants with two discounts. Paying your annual premium upfront or setting up a security system in your house could both help you save money.
Renters cannot benefit from a multipolicy discount because Lemonade does not currently provide auto insurance in Virginia. For combining plans, other insurance providers typically give a sizable discount on both your auto and renters insurance.
In general, tenants are pleased with Lemonade’s customer service. In the customer satisfaction study conducted by J.D. Power, it received the second-highest rating. In addition, according to the National Association of Insurance Commissioners, Lemonade receives fewer complaints than one might anticipate given its size (NAIC).
For renters who prefer to deal with just one firm for all of their insurance requirements, State Farm is the ideal insurer. The organization provides a variety of insurance products in addition to renters insurance, including auto, life, health, and business insurance.
In Virginia, State Farm renters insurance costs roughly $11 monthly, which is $4 less than the state average.
Renters who also get auto insurance can reduce the cost of their renter’s insurance by about 4.7%. Combining renters’ and auto insurance is eligible for one of the biggest savings available.
Additionally, State Farm will guarantee a stress-free claims process for Virginia renters. Based on its size, the company receives fewer complaints than its rivals, according to the NAIC. The customer satisfaction study conducted by J.D. Power likewise gave it an above-average rating.
The same protection generally provided by other carriers is also covered by State Farm renters insurance.
Renters can enhance their liability insurance and add identity theft protection. State Farm, nevertheless, does not provide well-liked additions like water backup coverage, which guards your possessions against water damage brought on by backed-up plumbing.
Despite not being the most affordable carrier in Virginia, Nationwide offers a large variety of coverage alternatives. Replacement-cost coverage and water-backup protections are two useful add-ons that renters can increase their coverage with. Additionally, Nationwide provides standard add-ons like insurance, enhanced covering for valuables, and increased liability protection.
Nationwide renters insurance typically costs $14 monthly or $167 annually.
The difference between that and the typical cost of renters insurance in Virginia is $1 per month. By combining insurance, adding security features to your house, and avoiding claims, Nationwide gives you a few options to reduce your premiums.
Customer service at Nationwide has received mixed reviews. According to the NAIC, it receives fewer complaints than is typical for a company of its size. In contrast, it received a below-average rating on the J.D. Power customer satisfaction survey. Renters in Virginia who use Nationwide insurance may find it more challenging to replace damaged belongings than those who select a different provider.
Amica offers tenants in Virginia a stress-free claims process. Compared to other insurers of comparable size, it receives remarkably few complaints, according to the NAIC.
Amica also received top marks from ValuePenguin editors for its coverage options, cost of coverage, and rave customer service evaluations. Renters should anticipate Amica to assist in promptly returning their lives to normal in the event of an emergency.
Amica’s renter’s insurance is reasonably priced, while it isn’t the state’s cheapest provider. The cost of insurance is roughly $15 per month, which is the same as the state average for Virginia. Amica does provide a number of discounts, though, to assist renters in reducing their insurance costs. You can cut costs by:
- Choosing Amica for vehicle insurance
- enrolling in automatic payments
- obtaining invoices and paperwork by email
- remaining three years or longer without filing a claim
- Amica’s loyalty discount is one of its most distinctive special offers. Amica will automatically apply a discount when you switch insurance providers if you have had coverage with your present provider for two years or more.
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