Chincoteague Island, VA Homeowners Insurance Rate Quotes!

Great Chincoteague Island homeowners insurance rates come to those that don't wait around, but for those that shop around find better rates with great coverage! Our online quoting system allows us to shop up to 12 or more competitive home insurance rates all at once, making it easy for you to shop and compare the best policy option. Chincoteague Island has over 1,417 homes in a population density of about 5,882.

Average Home Insurance Rates in Chincoteague Island

Most of the homes are covered under a standard homeowners insurance policy to protect the home against fire damage, theft or wind and hail. Let us help you make the best insurance choice by exploring competitive options that help provide better coverage from carriers you trust. Homeowners living in Chincoteague Island are paying around $64 per month on average or about $772 per year. Smaller homes with less dwelling or replacement cost coverage cost around $522 per year which is really cheap! Rates for larger more expensive homes to rebuild or replace are around $1,072 per year. Our job at GetHomeInsuranceQuotes.com is to review and compare the best rate and coverage option so you know that your home is protect when you need insurance coverage the most. Let us help you shop multiple Chincoteague Island, VA home insurance rates today!

Compare Homeowners Insurance Rates in Chincoteague Island, VA!

Get up to 12 competitive Chincoteague Island, VA homeowners insurance rates all in one place!

Chincoteague Island, 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 Chincoteague Island, 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 Chincoteague Island home. Let us help you shop the best rates and coverages today!

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Average Rates Nearby Chincoteague Island

Are you looking for homeowners insurance in a city near Chincoteague Island? 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 Chincoteague Island, VA

Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Chincoteague Island.

23336,

Chincoteague Island, VA Home Insurance Average Premiums

Local Chincoteague Island, VA home insurance quotes comparison

$522 /yr.

Shows Chincoteague Island's lowest average rates with discounts applied.

For the city of Chincoteague Island, 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)	$522 /yr.
Average Coverage:	$772 /yr.
2600 sq. ft. or higher (all discounts applied)	$1072 /yr.

What is the average home insurance cost for a home in Chincoteague Island, VA?

• The average homeowners insurance premium paid annually for a home in Chincoteague Island is around $772 per year.

What does it cost on average per month for home insurance in Chincoteague Island, VA?

• Homeowners in Chincoteague Island pay an average cost per month around $64.00 for insurance coverage.

Chincoteague Island, VA Coastal Wind, Hail & Flood Information

Chincoteague Island 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 Chincoteague Island is know for it's beautiful beaches and waterways. Because Accomack County (FIPS: 51001) 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 Chincoteague Island, VA.

Chincoteague Island, VA - 2023 Housing Information

Month	Current Home Value (2023)	Last Year Home Value (2022)
January	$0	$0
February	$0	$0
March	$0	$0
April	$0	$0

Homeowners insurance will help cover the cost to repair or replace your Chincoteague Island 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 Chincoteague Island
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 Chincoteague Island, VA homeowners insurance rates all in one place!

Saving Money Tips on Chincoteague Island Home Insurance

A great way to save money on Chincoteague Island 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 Chincoteague Island 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
-4 ft.	This is the average home elevation in Chincoteague Island, 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 Chincoteague Island, 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. Call Now for Flood Insurance Quotes: 888-620-1954! 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.

Elevation

Details

Homeowners Tips

-4 ft.

This is the average home elevation in Chincoteague Island, 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 Chincoteague Island, 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.

Call Now for Flood Insurance Quotes: 888-620-1954!

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 Chincoteague Island, 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 Accomack County.

Virginia Homeowners Insurance News & Information

2025 Spring Cleaning Insurance Tips for Homeowners Posted on Monday 31st March, 2025
Spring is here, the days are getting longer, the weather is warming up and the trees are starting to bud. All of this makes it a great time for homeowners to knock out some spring cleaning and home maintenance. We thought it might be a good idea to look at some spring cleaning and maintenance […]
Homeowners Now Use This Strategy To Save Money on Home Insurance. Is It a Good Idea? Posted on Wednesday 26th March, 2025
According to a new Market Watch article, homeowners who are struggling with the cost of higher homeowner insurance premiums are making the move to policies with higher deductibles to help lower their costs. While this strategy may work for some, it is not the best idea for everyone. Data from the Intercontinental Exchange (ICE) showed […]
Florida Homeowners With Insurance Are Struggling to Get Claims Paid – Why? Posted on Wednesday 19th March, 2025
According to a recent Moneywise article, homeowners with insurance coverage in Florida are struggling to get claims paid. Chad Zalva, a single dad in Riverview, Florida, was cited as an example in the article as a homeowner who is carrying homeowners insurance but was recently surprised to learn that the damage to his home from […]
2025 List of States Where Finding Home Insurance Is Most Difficult and Why Posted on Tuesday 11th March, 2025
Homeowners insurance is a necessity if you own a home, particularly if you are currently carrying a mortgage. Mortgage lenders require homeowners insurance to protect their investment in your home by always carrying homeowners insurance. If your insurance is cancelled or you are non-renewed it can be a huge problem. As wildfires and major windstorms […]
Will Citizens Policyholders See a Home Insurance Rate Decrease? Posted on Tuesday 11th March, 2025
Recently, Gov. Ron DeSantis announced that over 20% of Citizens property insurance policyholders will see a premium decrease of roughly 5.6%. DeSantis also claimed that almost 73% of homeowners who have a policy with Citizens in Miami-Dade County will see a rate reduction of 6.3% on average. The state-run insurer, Citizens Property is finally shedding […]

Chincoteague Island, VA Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in Chincoteague Island 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 Chincoteague Island, VA?

- The average square footage in Chincoteague Island is around 1,716 Sq. Ft. which would cost you around $279,700 to replace the home if you base the home on the price to build per square foot of $163.

Minimum Replacement Cost Total: $279,700

Location: Chincoteague Island, Virginia (Accomack County)

Average Building Cost Per Square Foot in Chincoteague Island: $163 (low end)

Average Square Footage in Chincoteague Island: 1,716 Sq. Ft.

Home Improvement Status	Price per Sq. Ft.	Dwelling Coverage
None or Very Minor Improvements	$163	$279,700
Some Additional Upgrades	$204	$349,625
Major Home Updates or Advancements	$245	$419,550

Calculate Your Chincoteague Island, VA Dwelling Coverage

The dwelling coverage is calculated by the average cost per square foot ($163) in Chincoteague Island, 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.