Norfolk is located along Virginia’s coast, which means homeowners face higher risks of flooding and wind damage from hurricanes and tropical storms.1 Those risks make home insurance in Norfolk more expensive than Virginia’s annual average of $1,717. For this reason, it’s wise to compare home insurance quotes to ensure you get the best rate for the coverage you need.

Norfolk homeowners pay an average of $2,678 annually for a policy with $300,000 in dwelling coverage and a $1,000 deductible. If you’re considering buying a home in Norfolk (or looking for coverage on the home you already own), remember that standard home insurance typically doesn’t cover flood damage.2 You may want to add flood insurance or extended windstorm coverage for better protection.

Best home insurance companies in Norfolk

Norfolk homeowners have access to many reputable insurance companies offering a variety of policies to suit different needs. While rates and coverage options vary, each company has benefits, whether it’s strong customer service, local expertise, or customizable coverage and discounts.

The best homeowners insurance company depends on your property type, location, risk factors, and budget. That said, these are some of the top home insurers serving the Norfolk area.

Best company for cheap coverage: Narragansett Bay Insurance

Best company for customer service: Chubb

Best company for customizable coverage: State Farm

Cheapest home insurance companies in Norfolk

Narragansett Bay Insurance Company offers some of the lowest average home insurance premiums in Norfolk, making it a top choice for cost-conscious homeowners. The table below shows other affordable insurers in the city for policies with $300,000 in coverage and a $1,000 deductible.

How much is home insurance in Norfolk?

Homeowners in Norfolk pay an average of $2,678 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible. Several factors influence your premium, including the home’s age and construction type, proximity to the coast, your claims history and credit history, and the type of coverage you choose.5 

Homes in flood-prone or wind-exposed areas usually cost more to insure due to increased risk.

Cost of home insurance by dwelling coverage in Virginia

As your dwelling coverage increases, so does the cost of your homeowners insurance. That’s because higher coverage limits mean your insurance company would have to pay more to rebuild your home after a total loss.

The table below shows the average cost of home insurance for different levels of dwelling coverage in Virginia. This can give you an idea of how much your insurance might cost based on your home’s replacement cost.

Cost of homeowners insurance by deductible amount

Your deductible is the amount you agree to pay out of pocket before your insurance coverage kicks in after a claim.6 Choosing a lower deductible means paying a higher premium in exchange for your insurance company covering more. 

On the other hand, opting for a higher deductible lowers your premium but increases your out-of-pocket costs if you file a claim. It’s a trade-off between up-front cost and financial risk.

The following table shows the averages for different deductibles for a $300,000 dwelling coverage policy in Norfolk, Virginia.

Average cost of home insurance in other cities in Virginia

Home insurance rates vary by city — and even by ZIP code within the same city — due to factors like home construction type, proximity to hydrants and fire stations, and storm exposure. In Virginia, homeowners in coastal cities like Norfolk and Virginia Beach tend to pay more for home insurance than those in inland areas like Charlottesville and Fredericksburg due to the increased threat of hurricanes.

The table below shows average annual premiums for $300,000 in dwelling coverage with a $1,000 deductible in several Virginia cities.

What to know about owning a home in Norfolk

Owning a home in Norfolk comes with both charms and challenges. With its waterfront views and historic neighborhoods, the city’s desirable location is a major draw. But it can also mean higher property values, which can drive up home insurance premiums. Also, Norfolk’s proximity to the coast makes it especially vulnerable to flooding and wind damage from hurricanes and tropical storms.

Standard homeowners insurance policies don’t cover flood damage. To protect your property, you’ll need to purchase a separate flood insurance policy. Flood insurance may be available from your existing home insurance company, from another private insurer, or through the National Flood Insurance Program (NFIP).

Remember, some home insurance policies include a separate hurricane or wind deductible. Rather than a flat dollar amount, this deductible may be a percentage of your dwelling limit. For example, if your home is insured for $300,000 and you have a 2% wind deductible, you’d need to pay $6,000 out of pocket for wind-related damage before your insurance kicks in.