Get multiple home insurance quotes in 23503. Our licensed 23503, VA agents are ready to serve you.

23503 Home Insurance Rates

Getting multiple homeowners insurance rates in 23503 is the best way to review and compare all the coverage options available for you, your home and your family. Our homeowners rates are very competitive for homeowners living in the great city of Norfolk, VA. Many homeowners based out of the 23503 zip code have found it very easy to shop with GetHomeInsuranceQuotes.com. The reason is because we clearly showcase the carriers that we will shop for you. We can compare up to 12 competitive home insurance rates for you all in one place. Plus, our home insurance quotes are free and our Virginia licensed home insurance professionals can provide a free consultation service to you that allows you to ask questions about which policy and coverage package is best for you. To get free home insurance quotes, simply click the "Get Multiple Quotes Now" button. Your 23503 should appear in the zip code field ready to go. For Norfolk, VA Home Insurance Quotes, Click to easily get started!

23503 Homeowners Insurance Rates, Average Rating: Medium!

Your homeowners insurance policy in 23503 consists of both property and casualty insurance coverage. This type of policy will insure your home against a variety of risks, including fire, theft and windstorm damage. Additional protection is also included in most policies that offer liability coverage against accidents that may injure other people on your property in Norfolk. For a basic HO-3, standard homeowners policy, the average premium per year in Virginia is around $813. By shopping your home insurance with us at GetHomeInsuranceQuotes.com, we can help you compare the most affordable rates and enhanced coverage options. Please enter your 23503 zip code today and let us help you save time and money on your homeowners insurance premium.

Get 23503 Home Insurance Rates Today and Save!

23503 Home Insurance Average Premiums

Local 23503 homeowners insurance quotes comparison

$563 /yr.

Shows Zip Code: 23503 lowest rates with discounts applied on average.

For the 23503, 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)
$563 /yr.
Average Coverage:$813 /yr.
2600 sq. ft. or higher
(all discounts applied)
$1113 /yr.

What is the average home insurance cost for a home in 23503?

  • • The average homeowners insurance premium paid annually for a home in 23503 is around $813 per year.

What does it cost on average per month for home insurance in 23503?

  • • Homeowners in 23503 pay a monthly average cost per month around $68.00.

What kind of discount could I get if I combine my home and auto insurance together in 23503?

  • • Autoowners in 23503 can receive a 20% to 25% discount if they own a home and would like to group or bundle their car and home insurance together with one insurance company.

For shopping home insurance rates within the Norfolk area, check out other zip codes nearby 23503.
Review average rates in another zip code:
23518 homeowners insurance rates
23507 homeowners insurance rates
23517 homeowners insurance rates
23523 homeowners insurance rates
23508 homeowners insurance rates
23502 homeowners insurance rates
23504 homeowners insurance rates
23551 homeowners insurance rates
23513 homeowners insurance rates
23503 homeowners insurance rates

Home Replacement Cost Coverage in 23503

Average Building Cost Per Square Foot in 23503: $163

Location: Norfolk, Virginia (Norfolk City County)

Average Square Footage in 23503: 1,355 Sq. Ft.

When building or updating a home, it's always good to review the average cost per square foot to build in 23503 before you start any project. Norfolk homeowners pay on average around $163 per square foot to build a home. Another great reason to know the average cost to build is for your homeowners insurance policy. A standard homeowners policy will help you cover the replacement cost of your home due a fire or any other named perils on your policy. Calculating your dwelling coverage for your home in 23503 is extremely helpful when estimating how much replacement cost coverage you need. We highly recommend that you have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Here is how you determine your replacement cost. If we take an average home in 23503 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 1,355 sq. ft. and the average cost to rebuild the home in this area is around $163 per square foot would be considered a base estimate cost. These two numbers would allow us to generate the replacement cost needed for an average size home in the Norfolk area. If the home is new or has been upgraded, you will want to add $50 to $100 or more per square foot to equally cover the replacement cost to restore a home back to it's original condition.

Home Improvement StatusPrice per Sq. Ft.Square FeetDwelling Coverage
Basic Home Features$1631,355$220,900
Additional Upgrades & Added Features$2041,355$276,125
Major Home Updates or Advancements$2451,355$331,350

It's important to understand that when you estimate your replacement cost of your home in the 23503 zip code area, it will be the cost to replace the structure of your home, not the additional value of the property that is factored in when purchasing a new home.

Best Homeowners Insurance Agencies in 23503

Best Home & Auto Insurance Agencies in 23503

Larry R Spencer Ins Agency Inc - State Farm Insurance Agent

Address: 1507 E Bayview Blvd Norfolk, VA 23503
Phone:
Website: http://www.statefarm.com
Info: State Farm - Car Insurance Quotes - Save on Auto Insurance
State Farm offers more discounts to more drivers than any other insurance company. Get a free quote today and see how you can save on auto, home, life and more. State Farm, auto insurance, car insurance, home insurance, homeowners insurance, renters insurance, life insurance, health insurance, annuities, mutual funds, banking, car loans, credit cards, Visa gift cards

Housing Demographics for 23503

Population Review for 23503 Zip Code

For the city of Norfolk, the population within 23503 has increased to over 32,419 residents in population size. The current population total is 31,932. We have broken down the population based on race below. In 23503, there are over 15975 in male population and 15957 females.

PopulationValues
Total Population31,932
White Population18354
Black Population7352
Hispanic Population4035
Asian Population937
Hawaiian Population101
Indian Population212
Other Population1696
Male Population15975
Female Population15957
Population Estimate32419

Household Data for 23503

The average number of homes in 23503 is around 14,001, there are an average of 2.26 per household. The average house value according to local real estate values is around $220,900. Please review the following demographics below for average income and media age.

Housing / Income DataValues
Households Per Zipcode14,001
Persons Per Household2.26
Average House Value$220,900
Income Per Household$56433
Median Age34.0
Median Age Male32.9
Median Age Female35.0
23503 DetailsValues
StateVA
State Full NameVirginia
City TypeP
City Alias Abbreviation
Area Code757
CityNorfolk
City Alias NameNORFOLK
CountyNorfolk City
County FIPS710
State FIPS51
Time Zone5
Day Light SavingY
MSA5720
PMSA
CSA545
CBSA47260
CBSA_DIV
CBSA_TypeMetro
CBSA_NameVirginia Beach-Chesapeake-Norfolk, VA-NC
MSA_NameNorfolk-Virginia Beach-Newport News, VA-NC
PMSA_Name
RegionSouth
DivisionSouth Atlantic
MailingNameY
Economic & Growth ReviewValues
Number Of Businesses253
Number Of Employees1651
Business First Quarter Payroll8587
Business Annual Payroll38219
Business Employment Flag
Growth Rank0
Growth Housing Units 2003
Growth Housing Units 2004
Growth Increase Number0
Growth Increase Percentage0.0
Metropolitan DetailsValues
CBSA Population1671683
CBSA Division Population0
Congressional District03
Congressional LandArea947.1
Delivery Residential14345
Delivery Business213
Delivery Total16060
Preferred Last Line KeyX27304
Classification Code
Multi-County
CSA NameVirginia Beach-Chesapeake, VA-NC
CBSA_DIV_Name
City State KeyX27304
Land Area5.046000
Water Area2.629000
City Alias Code
City Mixed CaseNorfolk
City Alias Mixed CaseNorfolk
Box Count244
SFDU9775
MFDU1942
State ANSI51
County ANSI710
ZIP Intro
Alias Intro
Facility CodeP
City Delivery IndicatorY
Carrier Route Rate SortationD
Finance Number516522
Unique ZIP Name
SSA State County Code49641
Medicare CBSA Code47260
Medicare CBSA NameVirginia Beach-Norfolk-Newport News, VA-NC
Medicare CBSA TypeMetro
Market Rating Area ID9
County Mixed CaseNorfolk City

Virginia Homeowners Insurance News & Information

  • Economists Top 5 Housing Predictions for 2025 Posted on Monday 6th January, 2025

    Housing costs are currently sky-high, regardless of whether you are renting or in the market to buy a home. According to the latest data from the U.S Cenus, the median sales price for a single-family home was $437,300, which is up from $426,800 a month prior. On the rental front, the median price for rent […]

  • Do homeowners insurance policies have loopholes? Posted on Monday 30th December, 2024

    Homeowners insurance is a necessity to help protect your home, but there can be coverage gaps that you may not be aware of which can leave you unprotected. Flood and earthquake damage along with mold and other issues are excluded from most standard homeowners insurance policies.  Here are some common exclusions that could leave you […]

  • 2025 – Study Shows Home Insurance Market Stabilizing Posted on Wednesday 11th December, 2024

    According to a new report from Matic, the homeowner’s insurance market has shown signs of stabilizing roughly two years after major premium hikes and coverage challenges.  Even though premiums are high, trends in the insurance industry show that a slowdown in premium growth may be coming. Here is a brief overview of the report and […]