Get New Castle, VA Home Insurance Rates!

Are you moving to New Castle, VA? You will join the already 4,261 people that call this beautiful city home. Families in New Castle have a figured out how to save time and money by letting us shop the best New Castle home insurance rates and coverage options. For only $71.00 a month, you can find great coverage at an affordable price!

New Castle Homeowners Insurance is Very Affordable

Once you have purchased your home, you will need to protect it with a homeowners policy. Usually before closing, your loan provider will require you to purchase a homeowners policy. Lucky for you, New Castle is a very affordable town with an average home insurance cost of $1,107. New Castle, Virginia is ranked 33 in the country for homeowners insurance rate prices.

You will need a certain type of homeowners policy when purchasing your new home. There are different policy types that are each designed for the specific type of housing that you may own. Here is a brief description of each of the different homeowner policy types that are available to you:

(HO-3): The most common of all homeowner insurance types is the HO-3 or "Homeowners Three" policy. The majority of homeowners in New Castle have most like purchased this type of standard or basic homeowners policy. It protects your home against every peril except ones that are excluded specifically in the policy. Perils may include fire, theft, liability.
It should be noted that all HO-3 policies exclude earthquake and flooding damage.
(HO-4): This type is called a renters insurance coverage type for renting a home, condo or apartment. This will cover the personal property in the home as well as offering liability coverage for you in the event that someone trips or fall and is otherwise injured in your apartment. This policy is for renters or tenants only, this does not cover you if you own the property and want to rent it, you will need a landlord policy for that type of coverage.
(HO-5): If you want to upgrade your HO-3 standard homeowners policy, this is the next level type of enhanced coverage. While more expensive than an HO-3 policy it also offers more coverage protection. These policies are not available on all homes, they are usually reserved for newer homes that fall in higher price brackets.

One of the major differences with this policy type is that your personal property is covered by all perils that are not named as exclusions. An HO-3 policy on the other hand only protects your personal property against a certain list of perils.

The majority of these policies also offer replacement value as standard coverage on personal property compared to fair market value which takes deprecation into account when calculating the value of your damaged or destroyed property.

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New Castle, 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 New Castle, 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 New Castle home. Let us help you shop the best rates and coverages today!

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Average Rates Nearby New Castle

Are you looking for homeowners insurance in a city near New Castle? 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 New Castle, VA

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

24127,

New Castle, VA Home Insurance Average Premiums

Local New Castle, VA home insurance quotes comparison

$596 /yr.

Shows New Castle's lowest average rates with discounts applied.

For the city of New Castle, 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)	$596 /yr.
Average Coverage:	$846 /yr.
2600 sq. ft. or higher (all discounts applied)	$1146 /yr.

What is the average home insurance cost for a home in New Castle, VA?

• The average homeowners insurance premium paid annually for a home in New Castle is around $846 per year.

What does it cost on average per month for home insurance in New Castle, VA?

• Homeowners in New Castle pay an average cost per month around $71.00 for insurance coverage.

New Castle, VA - 2023 Housing Information

Month	Current Home Value (2023)	Last Year Home Value (2022)
January	$163,033	$167,077
February	$163,871	$166,328
March	$165,292	$163,645
April	$165,643	$161,489

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

Saving Money Tips on New Castle Home Insurance

A great way to save money on New Castle 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 New Castle 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
1985 ft.	This is the average home elevation in New Castle, VA	Did you know that the elevation in which your home resides is crucial to a home insurance policy because it determines the risk factor related to your home being in a flood zone. It is important to understand that your home is not covered for floods under a standard homeowners policy. You will need to speak with a local Virginia flood insurance agent about a flood insurance policy, please give us a call now at 888-620-1954.

To get online quotes on your home and compare rates on home insurance premiums in New Castle, 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 Craig 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 […]

New Castle, VA Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in New Castle 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 New Castle, VA?

- The average square footage in New Castle is around 940 Sq. Ft. which would cost you around $153,300 to replace the home if you base the home on the price to build per square foot of $163.

Minimum Replacement Cost Total: $153,300

Location: New Castle, Virginia (Craig County)

Average Building Cost Per Square Foot in New Castle: $163 (low end)

Average Square Footage in New Castle: 940 Sq. Ft.

Home Improvement Status	Price per Sq. Ft.	Dwelling Coverage
None or Very Minor Improvements	$163	$153,300
Some Additional Upgrades	$204	$191,625
Major Home Updates or Advancements	$245	$229,950

Calculate Your New Castle, VA Dwelling Coverage

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