How to find affordable homeowners insurance in Chesapeake
Among the most important aspects of owning a home is homeowners insurance. Fire, vandalism, theft and wind damage are only a few of the perils from which homeowners insurance can protect your dwelling and other personal belongings. Incidents like this occur often. When compared to the high cost of repairing or rebuilding a house, investing in a homeowners policy is a wise choice. Homeowners insurance costs an average of $139 per month in Chesapeake, Virginia. This is more than the national average monthly home insurance payment.
The price of home insurance depends on many factors. This can include the overall value of your house, the value of your personal belongings, and the materials that were used when building your home. The location of your dwelling can also play a large role in how much you pay for home insurance. Some geographic areas are susceptible to perils such as hail, wildfires, pipe freezes, volcanoes, and other hazards. These perils can lead to more expensive homeowners insurance rates. Learn more info about what your homeowners insurance policy covers.
Finding affordable home insurance in Chesapeake starts with shopping around and comparing policies. Take a look at the summary below showing average Chesapeake homeowners insurance costs to ensure you start your search with as much background info as possible. Remember: your homeowners insurance costs may vary based on your coverage limits and other factors.
Table of contents:
- Rates by insurer
- Rates by coverage amount
- Rates by ZIP code
- Rates by deductible amount
- Policy bundling savings
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Chesapeake home insurance by company
Homeowners insurance rates in Chesapeake vary from one insurance company to another. The most inexpensive home insurance in Chesapeake comes from Nationwide, which offers average annual rates of just $1,007 per year. This is less than the city’s average homeowners premium of $1,673.
Take a look at the cheapest homeowners insurance carriers in Chesapeake, Virginia, below. You can also check out our guide to the best home insurance companies based on the results of The Zebra's Customer Satisfaction Survey.
AFFORDABLE HOME INSURERS IN CHESAPEAKE
| Company | Average Annual Rate |
| Nationwide | $1,007 |
| State Farm | $1,016 |
| Safeco | $1,373 |
| Erie | $1,572 |
| Allstate | $1,752 |
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Chesapeake homeowners insurance prices by coverage level
Your chosen level of homeowners coverage impacts the insurance premiums you pay. In Chesapeake, carrying $200K dwelling coverage costs an average of $1,160, while carrying additional coverage up to $400K costs $2,134/year.
POPULAR COVERAGE LIMITS IN CHESAPEAKE
| Coverage Level | Average Annual Rate |
| $100K Dwelling | $742 |
| $200K Dwelling | $1,160 |
| $250K Dwelling | $1,413 |
| $400K Dwelling | $2,134 |
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Chesapeake home insurance rates by ZIP code
Depending on the part of Chesapeake you live in, you might see vastly different home insurance costs. The number of claims filed in your local area can be a factor in determining the price of your policy. Put simply, the location of your home could have a huge impact on how much you pay for insurance.
To find the most affordable home insurance rates in Chesapeake, look no further than 23320. In the 23320 ZIP, homeowners coverage usually costs just $1,608 per year: $64 less than the Chesapeake average. If you’re looking for the areas with the most affordable homeowners insurance in Chesapeake, reference the table below.
AFFORDABLE HOME INSURANCE AREAS IN CHESAPEAKE
| ZIP Code | Average Annual Home Insurance Rate |
| 23320 | $1,608 |
| 23321 | $1,630 |
| 23322 | $1,674 |
Other areas of Chesapeake, it should be noted, face homeowners rates that are higher than the city average. Property crime rates, fire risk, and even your proximity to emergency services such as fire and police stations could impact rates the risk level of certain parts of the city, which has the potential to drive up area rates. With an annual average premium of $1,720, 23325 comes in as the priciest ZIP code in Chesapeake for homeowners insurance.
EXPENSIVE HOME INSURANCE AREAS IN CHESAPEAKE
| ZIP Code | Average Annual Home Insurance Rate |
| 23325 | $1,720 |
| 23323 | $1,707 |
| 23324 | $1,697 |
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Chesapeake homeowners insurance deductibles
Among the many choices faced by homeowners when shopping for homeowners insurance is how high to set the deductible. A deductible is an amount for which a homeowner is responsible before the insurer will cover a claim. Where you choose to set your homeowners deductible is directly related to the overall cost of your coverage.
Put simply, a higher deductible translates to lower insurance rates. As such, if you want your insurance rates to stay low, aim for a higher deductible. Bear in mind that your deductible should not be so high that you would struggle to pay it in the event of a loss.
Below you'll find some common deductibles offered by most home insurance companies as well as with related average insurance premiums.
HOME INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN CHESAPEAKE
| Deductible Level | Average Annual Home Insurance Rate |
| $500 | $1,507 |
| $1,000 | $1,413 |
| $1,500 | $1,341 |
| $2,000 | $1,276 |
| $5,000 | $1,113 |
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Home and auto insurance bundling in Chesapeake
To save a little money, you might consider bundling your homeowners and auto insurance policies through the same company. Bundling your homeowners and auto insurance can save you a substantial sum each month on your auto insurance bill. Bundling policies in Chesapeake could lead to average annual savings of 7%.
CHEAPEST CAR INSURANCE RATES WITH HOME BUNDLE IN CHESAPEAKE
| Company | Avg. Annual Auto Insurance Rate (With Bundle) |
| GEICO | $760 |
| USAA | $788 |
| State Farm | $817 |
| Erie | $822 |
| Progressive | $905 |
Compare quotes on Chesapeake, VA home insurance today!
About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.