Do I really need insurance on my house?

Will all the money and care you've invested in your home—and life—it's advisable to guard against financial risk and always keep a homeowners policy in force. Next steps: Learn how much homeowners insurance you need.

Is homeowners insurance required in Virginia?

No, homeowners insurance isn't required by law in Virginia, but your mortgage company will most likely require it in order to get a loan.

What’s the average cost of home insurance in Virginia?

How much is homeowners insurance in Virginia? In Virginia, the average home insurance premium is $924 per year for a policy with $250,000 in dwelling coverage.

Does a house need to be insured?

Legally, you can own a home without homeowners insurance. However, in most cases, those who have a financial interest in your home—such as a mortgage or home equity loan holder—will require that it be insured.

What are three things that are not covered by homeowners insurance?

Termites and insect damage, bird or rodent damage, rust, rot, mold, and general wear and tear are not covered. Damage caused by smog or smoke from industrial or agricultural operations is also not covered. If something is poorly made or has a hidden defect, this is generally excluded and won't be covered.

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