Newport News, VA Homeowners Insurance Rate Quotes!
There are currently 180,719 people live in the city of Newport News and the average family size is around 3 people per home. The total number of housing units in need of an affordable homeowners insurance policy is around 76198 and the number of occupied households is roughly 70664. Homeowners of Newport News want to easily compare rates and coverage options with affordable prices and outstanding coverage. At GetHomeInsuranceQuotes.com, we shop up to 12 rates and coverages to help you review which insurance carrier and home insurance policy is best fit for you and your family.
Within the city of Newport News, the median household income is $51,652 it is below the national average of $68,703. Buying a new home in Newport News, you might be inclined to know that the average home costs around $178,360.
| Demographic | Values |
|---|---|
| Population | 180,719 |
| Total Occupied Households | 70664 |
| Family Households (families) | 44887 |
| Average Owner Occupied Household Size | 2.52 |
| Average Family Size | 3.02 |
| Total Housing Units | 76198 |
Average Home Insurance Rates in Newport News
Homeowners insurance is affordable in the city of Newport News costing homeowners around $821 per year, that's only $68 a month for great coverage you can depend on. Most Newport News homeowners pay around $571 per year on the lower-end on up to $1,121 per year for larger homes that cost more to replace in value. This also depends on your dwelling coverage, deductible and discounts that we can help apply to save you more on your home insurance premium. Let us help you shop the best rates and coverages today!
| Location | Premium | Per Month | Shop Rates |
|---|---|---|---|
| Newport News | $821 /yr. | $68 /mo. |
Different Types of Newport News Homeowners Insurance Coverages
Homeowners insurance is seperated into several different types and each one is specifically designed for a certain type of housing. Here is a brief overview of a few of the more common homeowner insurance types that consumers can purchase in Newport News.
- HO-3 Policy: For most home buyers, they will get an HO-3 policy for a single family home. This is the most common homeowners insurance policy available. It will cover all perils, except for the ones mentioned, like flooding or earthquake damage. The exclusions will be listed in your policy. You will need to purchase a seperate policy to cover your home from flooding or an earthquake.
- HO-2 Policy: An HO-2 policy is every basic, it covers damages from certain perlis that are listed in the policy. If the peril is not listed, it will not be covered. Your personal property is also covered. Most experts don't recommend these policies except for the most basic coverage needs.
- HO-4 Policy: The HO-4 policy covers residents who are renting a home or apartment. It will protect all of the personal property in your apartment, up to your policy limits, as well as offering liability coverage. The liability portion of the policy will protect your financial assets if someone is injured in your apartment. It will pay for any medical costs as well as defend you in a lawsuit if you happen to be sued. These polices are very affordable and should definitely be considered if you currently live in an apartment.
Compare Homeowners Insurance Rates in Newport News, VA!
Get up to 12 competitive Newport News, VA homeowners insurance rates all in one place! |
Newport News, VA Home Insurance Companies
With over 20+ years of Virginia homeowners insurance coverage and quoting experience, we enjoy helping customer find the best price and coverage options for your home in Newport News, VA. Our new carrier platform includes quick rates from the very best insurance companies, like Liberty Mutual, Safeco Insurance, Tower Hill, ShoreOne, Kind Group Underwriting, AIG, Chubb, Travelers, National General and Heritage Insurance. Getting the best insurance rates with the right insurance company is key to protecing your Newport News home. Let us help you shop the best rates and coverages today!
Review the Best Virginia Home Insurance Rates Today!
Average Rates Nearby Newport News
Are you looking for homeowners insurance in a city near Newport News? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
Home Insurance Rates by Zipcode in Newport News, VA
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Newport News.
Newport News, VA Home Insurance Average Premiums
$571 /yr.
For the city of Newport News, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $571 /yr. |
| Average Coverage: | $821 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1121 /yr. |
What is the average home insurance cost for a home in Newport News, VA?
- • The average homeowners insurance premium paid annually for a home in Newport News is around $821 per year.
What does it cost on average per month for home insurance in Newport News, VA?
- • Homeowners in Newport News pay an average cost per month around $68.00 for insurance coverage.
Newport News, VA Coastal Wind, Hail & Flood Information
Newport News is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.
Flood Zone Notice: The beautiful coastal city of Newport News is know for it's beautiful beaches and waterways. Because Newport News city (FIPS: 51700) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Newport News, VA.
Newport News, VA - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $259,589 | $237,735 |
| February | $260,031 | $241,305 |
| March | $260,500 | $244,826 |
| April | $260,815 | $248,024 |
Homeowners insurance will help cover the cost to repair or replace your Newport News home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Newport News
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Get up to 12 competitive Newport News, VA homeowners insurance rates all in one place! |
Saving Money Tips on Newport News Home Insurance
A great way to save money on Newport News homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Newport News area? Check out what homeowners are paying on average for Virginia homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 18 ft. | This is the average home elevation in Newport News, VA | » Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Newport News, Virginia. A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home. Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy. It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas. |
To get online quotes on your home and compare rates on home insurance premiums in Newport News, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Newport News City County.
Virginia Homeowners Insurance News & Information
-
Texas is Seeing Major Increases in the Cost of Homeowners Insurance Posted on Tuesday 7th May, 2024
Like much of the rest of the country, Texas is seeing major increases in the cost of homeowners insurance. According to an article in Austin American-Stateman, residents of Texas have seen their insurance rates go up 50.9% on average which is the largest increase in the country for that time period. Unfortunately, experts are predicting […]
-
Homeowners Below a 580 Credit Score Pay 35% More for Home Insurance Posted on Monday 15th April, 2024
While the odds of a major disaster hitting a specific home is the same regardless of whether the owner has a great credit score or one that puts them in a subprime category, their credit score will impact their rate in many states. In most states, insurers are allowed to consider credit scores when setting […]
-
The Best Way to Check the Financial Strength of Home Insurance Companies Posted on Wednesday 3rd April, 2024
If you are switching insurance companies, you should always check the financial strength of any insurer you are seriously considering. While an affordable premium is always a plus, if your insurance company cannot afford to pay when you file a claim, the savings will certainly not be worth it. A.M. Best is a credit rating […]
-
Florida’s Broward Commissioner is Asking Congress to Lower Insurance Rates Posted on Monday 1st April, 2024
A bill in the U.S. House called the Natural Disaster Reinsurance Plan, hopes to lower insurance costs for policyholders in states that opt-in to the program which will scale back the requirements regarding the amount of reinsurance that insurance companies need to purchase. Currently, a Broward commissioner is asking Congress to pass legislation he claims […]
-
North Carolina Coastal Home Insurance Rates Posted on Friday 29th March, 2024
North Carolina is a fantastic place to live with plenty of cultural activities, beautiful beaches, world-class cities as well as great restaurants and shopping. The only disadvantage to living in North Carolina, particularly if your home is located in coastal area is the cost of homeowners insurance. The average premium for a standard homeowners insurance […]
Newport News, VA Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Newport News so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Newport News, VA?
- The average square footage in Newport News is around 1,094 Sq. Ft. which would cost you around $178,360 to replace the home if you base the home on the price to build per square foot of $163.
Minimum Replacement Cost Total: $178,360
Location: Newport News, Virginia (Newport News City County)
Average Building Cost Per Square Foot in Newport News: $163 (low end)
Average Square Footage in Newport News: 1,094 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $163 | $178,360 |
| Some Additional Upgrades | $204 | $222,950 |
| Major Home Updates or Advancements | $245 | $267,540 |
The dwelling coverage is calculated by the average cost per square foot ($163) in Newport News, Virginia times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $509,375 (Media price to build of $204 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.