Montpelier, VA Home Insurance Quotes!
Homeowners, make sure your home insurance policy for your home in Montpelier, VA protects you from financial loss that could occur if your home was damaged. Did you know that homeowners are protected with a standard home insurance policy for fires, hurricane, lightning, wind, theft, vandalism, and even falling objects like tree limbs or power lines. Most home insurance policies provide liability coverage if you were found responsible for someone's injury.
It is important to understand that your standard home insurance policy is not covered for floods, this is a separate policy and can be purchased through your insurance carrier or through the National Flood Insurance Program. If your home is located in a flood zone, you will need to request a flood insurance policy from us. We can help you with this service and once you complete a Montpelier, VA home insurance quotes request online, our system will know if your home is in a flood zone. We look forward to help you!
For more information about your Montpelier home insurance protection, please review some of the most recent home insurance questions from our customers. For an online homeowners insurance quote, simply enter your zip code for the property that you would like to insure in Virginia.
Montpelier, VA Homeowners Insurance Quotes
On average, homeowners within the Montpelier limits are paying around $819 per year for a standard HO-3 policy which is basic coverage for a single-family home. Rates in this Montpelier can be as low as $569 per year for homes in the 1,500 square footage size. We can help you save more money on your policy when we apply home insurance discounts and possibly a home and auto insurance package. Larger homes in this area pay around $1,119 per year due to the replacement cost coverage being higher because the home is bigger in square footage size around 2,300 square feet or more. Don't worry! We can help you shop the best rates and coverage options and work with you to show you which policy is best for your Montpelier home.
The national average premium for homeowners in the United States is $1311. This usually helps when you want to compare your current annual premium payment against a local Montpelier policy or an overall countrywide average premium. These average homeowners insurance rates reflect the cost of a standard home insurance policy which includes the coverage of your home, your contents, loss of use, medical payments and homeowner liability coverage.
Save time by taking advantage of our quoting and shopping service and let our licensed agent in Virginia compare multiple coverage options for you. With our easy online shopping process, you can get quotes from up to 12 different home insurance companies. Local Montpelier agents advise shopping your policy twice a year so you can keep your coverage options aligned with your needs and recent upgrades. It's important to keep your homeowners insurance coverage up to date if you make any additional home improvements to your Montpelier home.
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Montpelier, 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 Montpelier, 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 Montpelier home. Let us help you shop the best rates and coverages today!
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Average Rates Nearby Montpelier
Are you looking for homeowners insurance in a city near Montpelier? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
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Home Insurance Rates by Zipcode in Montpelier, VA
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Montpelier.
Montpelier, VA Home Insurance Average Premiums
$569 /yr.
For the city of Montpelier, 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) | $569 /yr. |
| Average Coverage: | $819 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1119 /yr. |
What is the average home insurance cost for a home in Montpelier, VA?
- • The average homeowners insurance premium paid annually for a home in Montpelier is around $819 per year.
What does it cost on average per month for home insurance in Montpelier, VA?
- • Homeowners in Montpelier pay an average cost per month around $68.00 for insurance coverage.
Montpelier, VA Coastal Wind, Hail & Flood Information
Montpelier 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 Montpelier is know for it's beautiful beaches and waterways. Because Hanover County (FIPS: 51085) 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 Montpelier, VA.
Montpelier, VA - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $367,887 | $345,350 |
| February | $369,900 | $350,910 |
| March | $374,017 | $357,222 |
| April | $377,985 | $362,457 |
Homeowners insurance will help cover the cost to repair or replace your Montpelier 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 Montpelier
- 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 Montpelier, VA homeowners insurance rates all in one place! |
Saving Money Tips on Montpelier Home Insurance
A great way to save money on Montpelier 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 Montpelier 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 |
|---|---|---|
| 262 ft. | This is the average home elevation in Montpelier, 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 Montpelier, 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 Montpelier, 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 Hanover County.
Virginia Homeowners Insurance News & Information
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$4.5B Estimated In Insured Losses After 2024 Florida Hurricanes Posted on Wednesday 13th November, 2024
According to the Florida Office of Insurance Regulation, the three hurricanes that made landfall this year have caused more than $4.5 billion in estimated insured losses. Hurricane Debby, Helene and Milton all hit the state within two months of each other Helene and Milton struck just two weeks apart. State data show that over 269,000 […]
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I can’t afford my home insurance, what do I do? Posted on Saturday 9th November, 2024
According to data from the National Association of Realtors (NAR), the average U.S. insurance rate is $2,377 a year. The data also suggest that homeowners could see a 6% rise in rates by the end of the year which is in addition to the 20% increase over the two previous years. As climate change pushes […]
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How to Get the Best Homeowners Insurance Policy for Your Needs Posted on Wednesday 6th November, 2024
Having the proper insurance coverages in place is a critical part of owning a home, it protects your investment and finances in the event your home is destroyed by an unexpected disaster such as a fire, flood or severe storm. Understanding the different coverages that are available to homeowners is key to making sure you […]
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Homeowners Shopping Rates Due to Rise in Premiums Posted on Monday 23rd September, 2024
According to the recently released J.D. Power 2024 U.S. Home Insurance Study a nationwide rise in premiums has driven many customers to shop for new policies as their rates are now too high. “’The average shopping rate among home insurance customers has climbed to a record high of 6.8% through the second quarter of 2024, […]
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Where is it cheaper to rent than to buy a home in the United States? Posted on Thursday 5th September, 2024
According to a new study from Clever Real Estate, a St. Louis-based real estate company, monthly rent costs are actually cheaper than a monthly mortgage payment in 48 of the 50 most populous cities in the United States. Their analysis looked at mortgage principals, interest, taxes as well as homeowners insurance and they found that […]
Montpelier, VA Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Montpelier 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 Montpelier, VA?
- The average square footage in Montpelier is around 1,821 Sq. Ft. which would cost you around $296,800 to replace the home if you base the home on the price to build per square foot of $163.
Minimum Replacement Cost Total: $296,800
Location: Montpelier, Virginia (Hanover County)
Average Building Cost Per Square Foot in Montpelier: $163 (low end)
Average Square Footage in Montpelier: 1,821 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $163 | $296,800 |
| Some Additional Upgrades | $204 | $371,000 |
| Major Home Updates or Advancements | $245 | $445,200 |
The dwelling coverage is calculated by the average cost per square foot ($163) in Montpelier, 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.