West Virginia Homeowners Insurance

West Virginia state law does not require homeowners to buy home insurance policies. However, the average cost of home insurance in West Virginia is only $86 per month, which is less than the national average. 

With affordable home insurance rates, buying a policy to protect your home and personal property is a wise investment. If not, you risk paying for home repairs out of pocket. 

Keep reading to find out where you can find the best homeowners insurance companies in West Virginia. Since West Virginia homeowners insurance rates vary based on where you are in the state, we found companies with the right home insurance discounts to help save you money no matter where you live.

How much is homeowners insurance per month in West Virginia?

Home insurance rates depend on the coverage level you carry. The average home price in West Virginia is $133,000, which a $200,000 home insurance policy would adequately cover.

On average, you can expect to pay $86 per month for $200,000 of homeowners insurance in West Virginia.

However, if there were recent renovations and upgrades to your home, your insurance rates will reflect the higher coverage levels. Your rates will also increase if you reduce your deductible. For example, lowering your deductible by $1,000 could add $150 or more to your annual West Virginia homeowners insurance rates.

Compare different deductibles and coverage levels with different companies to find the most affordable homeowners insurance. You’ll find the best rates when comparing home insurance quotes from at least three local companies.

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What are the best homeowners insurance companies in West Virginia?

The best WV homeowners insurance companies are Nationwide and Safeco when it comes to rates. Take a look at the table below to see how the top five insurers in the state compare:

West Virginia Homeowners Insurance Company	Monthly West Virginia Homeowners Insurance Rates	A.M. Best Rating	J.D. Power Rating
Erie	$1,178	A+	835
Nationwide	$985	A+	812
Safeco	$914	A	810
State Farm	$1,023	A++	835
USAA	$1,128	A++	N/A

While Nationwide and Safeco are the cheapest options for homeowners insurance in West Virginia, both companies have lower customer satisfaction scores. Shopping for home insurance comes down to more than just rates, so consider both financial and customer service ratings before deciding.

A.M. Best is an excellent free resource that annually ranks insurance companies’ financial stability. We used J.D. Power’s Home Insurance Study to rank each company’s customer satisfaction on a scale of 0 to 1,000.

State Farm has the highest customer service and financial rankings. It is more expensive than Nationwide and Safeco, but State Farm home insurance rates are right around the state average. If you can’t decide, compare your insurance quotes from all three companies and ask about discounts before you buy.

How to Save on West Virginia Homeowners Insurance

The easiest way to save on home insurance rates is by asking about insurance discounts. Simply buying your home and auto policies from the same company can save you 10% or more with a bundling discount.

West Virginia homeowners can also earn:

• New home discounts. New homeowners can usually earn a percentage off their annual rates if they bought their home within the past five years.

• Home security discounts. Installing additional fire alarms, video surveillance, or other security equipment can take 15% off your rates with some companies.
• Loyalty discounts. Staying with the same insurance company for three years or more can earn you an average of 10% off your rates.

Which discounts do the top five home insurance companies offer? Unfortunately, none of the companies on our list offer new home discounts. Allstate offers a small discount for new home buyers, but its rates are more expensive than the companies listed here.

USAA boasts the most home insurance discounts, offering 10% off or more for policy bundling, additional home security, and customer loyalty. However, USAA is only available to military members and their families.

Both Nationwide and Safeco offer bundling and home security discounts. Discount amounts will vary depending on the kind of policy you have and the security systems you’ve installed, but Nationwide offers an additional discount for homes with smart equipment.

Do I need to buy homeowners insurance in West Virginia?

No, West Virginia state laws don’t require homeowners to have insurance on their property. However, if you decide not to buy homeowners insurance, you risk losing your home after a natural disaster or liability case.

A standard West Virginia homeowners insurance provides coverage for:

• Dwelling and other structures. This coverage includes your home’s main structure, any additions, and artificial constructions on the property not connected to your primary dwelling.
• Personal property. Part of your standard policy will protect your personal property, including jewelry, art, electronics, furniture, and appliances.
• Loss of use. Loss of use covers accommodation costs while you are out of your home or part of your home after filing a claim.
• Liability. Your policy covers medical costs for those injured or killed on your property.

You may also want to add additional coverages that extend to events beyond your control. For example, umbrella insurance can provide additional home insurance coverage if you get sued by someone injured on your property.

Any additional types of coverage will raise your home insurance rates, but you’ll be better protected and pay less out of pocket if you ever file a claim. 

What are the most common home insurance perils in West Virginia?

Homeowners in West Virginia face the same risks as homeowners across the country, and standard homeowners insurance in WV protects against fire, liability, theft, freezing, and wind damages.

Homeowners insurance never covers flood damage. If you live in West Virginia, you’ll need to buy a separate flood insurance policy, and you may qualify for a discount if you live in a high-risk area.

West Virginia homeowners are also at high risk of sinkholes and shifting earth. The state’s history of coal mining has left some parts of the state unstable, and a standard home insurance policy will not cover damages caused by earthquakes or shifting earth. If you live in an at-risk area, you may be eligible for coal mine subsidence insurance that costs as low as $35 per year.

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West Virginia Homeowners Insurance: What You Need to Know

West Virginia homeowners insurance rates are cheaper than the national average at only $86 per month. These rates reflect a $200,000 policy with a $2,000 deductible. If you need more coverage or decide to lower your deductibles, your home insurance rates will be higher.

Nationwide and Safeco are the cheapest home insurance companies in West Virginia, but State Farm has better customer service ratings while still offering competitive rates. Try comparing these companies against other local insurers in your area to find the most affordable homeowners insurance.

If you would like to contact the West Virginia Department of Insurance, you can reach them toll-free at 1-866-445-8491 or by mail at P.O. Box 50540, Charleston, West Virginia, 25305. The state insurance office is at 900 Pennsylvania Ave, Charleston, West Virginia, 25302.

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