Average Cost of Homeowners Insurance in West Virginia (2024)

The average cost of homeowners insurance in West Virginia in 2024 is $1,646. This figure is $777 less than the national average of $2,423.

Aside from the amount of coverage you get, credit rating has the largest impact on premiums in West Virginia. The difference between the lowest and highest premium amounts due to credit rating is $2,902 on average. Your choice of insurance provider can also impact your premiums. If your rates have recently increased, we've also analyzed the cheapest home insurance in West Virginia.

In West Virginia, homeowners pay an average annual premium of $1,646 for insurance policies with $250K in dwelling coverage, $125K in personal property coverage and $200K liability coverage. This annual average is less than the national average home insurance rate of $2,423.

Determining how much coverage you need involves assessing the cost of rebuilding your home and replacing your belongings after a loss. For instance, a policy with $100K in dwelling coverage averages $944 annually in West Virginia. When opting for $500K in dwelling coverage, the average premium increases to $2,849 per year.

Homeowners insurance premiums in West Virginia can vary significantly among providers, even for similar levels of coverage. This reflects the diverse approaches and risk assessments each insurer applies to their underwriting process.

For those shopping for coverage, there are plenty of great West Virginia home insurance providers. Differences in underwriting can lead to a substantial range in annual premiums, emphasizing the value of comparing quotes.

Homeowners in West Virginia with poor credit pay an average annual premium of $4,206 for homeowners insurance, which is $2,560 more than the state average of $1,646. This stark contrast exemplifies the impact credit scores have on insurance rates. Conversely, those with excellent credit see their rates drop significantly, paying about $1,304 annually, which is $342 less than the state average.

While you may not be able to improve your credit score immediately, you can enhance it over time to reduce your insurance costs. In the short term, comparing insurers can be a savvy move to find more favorable rates. Homeowners can check out the most affordable home insurance providers in West Virginia in less than 15 minutes.

The type of roof on your home has a notable influence on your homeowners insurance premiums. Materials such as tile, which are more resilient, can lead to reduced insurance costs. In contrast, homes with shake-treated roofs might see higher premiums due to the material's susceptibility to damage from severe weather.

Construction materials also play a role in determining insurance rates. Durable materials that are more resistant to common perils could result in lower premiums. For example, insurance companies may favor homes built with superior construction methods, which is reflected in the cost of coverage.

Explore the tables below to see how different materials used in your home's construction and roof can affect your insurance premiums.

Typically, insuring a new construction home in West Virginia costs less than an older home due to modern materials and adherence to current building codes. The average annual premium for new construction is $931, which is $715 less than the average for existing homes. The table below displays the premium differences for varying coverage levels in new versus existing homes.

In West Virginia, homeowners who have been claim-free for more than five years can expect to pay an average annual premium of $1,646 for their insurance. However, if you've filed one claim within the past five years, your average premium jumps to $2,228. For those with two claims in the same time frame, the average cost escalates to $2,656 annually. These figures highlight the financial benefit of maintaining a claim-free record, as premiums can increase by $582 to $1,010 above the average for those with claims.

Shopping for home insurance in West Virginia doesn't have to be a mountain of a task. With the right approach, you can find a plan that keeps your home safe without breaking the bank. Here's how to find the best deal for you.

In West Virginia, homeowners can unlock savings by bundling their home and auto insurance policies. On average, bundling reduce the combined cost of auto and home insurance premiums by 17%, ranging from $232 to $596 annually. Remember that a multipolicy bundle could lead to substantial savings, so it's worth reviewing the best West Virginia home and auto bundles.

West Virginians can benefit from various homeowners insurance discounts.

• Protective devices discount for installed security systems
• Loyalty discount for long-term policyholders
• Claims-free discount for a history without claims

Remember, to maximize your savings, inquire about all applicable discounts when requesting a quote.

For homeowners in West Virginia seeking further information on insurance policies and regulations, a variety of resources are readily available. These resources can provide deeper insights into cost-effective coverage, estimated insurance costs and details on high-risk area insurance options. Here's a list of additional resources:

• West Virginia Offices of the Insurance Commissioner: Official state resource for insurance regulations.
• Affordable Home Insurance in West Virginia: Find cost-effective options for your home.
• West Virginia Homeowners Insurance Calculator: Estimate your potential insurance costs.
• High-Risk Home Insurance Coverage: Understand insurance for homes in high-risk areas.
• Top Home Insurance Options in West Virginia: Compare the best insurance providers.
• Personal Property Coverage Essentials: Guide to personal property insurance needs.
• Report Insurance Fraud: Online system for reporting insurance fraud.