Published April 18, 2023
West Virginians pay over $1,400 per year for homeowners insurance on average. But it's possible to score a much more affordable rate by seeking out the best homeowners insurance in West Virginia. Below, we'll take a closer look at which companies offer the lowest rates for several common scenarios, along with some other key information homeowners should know.
- Cheapest overall for the state: American Select Insurance
- Cheapest for new home construction: American Strategic Insurance
- Cheapest for older homes: American Select Insurance
- Cheapest for homeowners who have filed a claim: American Select Insurance
Cheapest overall for the state
The typical West Virginian homeowner pays about $1,440 per year. But those who go with American Select only pay about $1,083 per year on average.
The following companies also make the list of the best homeowners insurance companies in West Virginia:
- Nationwide, where the typical homeowner pays about $1,274 per year
- AAA, which charges the average West Virginia homeowner about $1,384 annually
Cheapest for new home construction
American Strategic Insurance offers some of the most affordable West Virginia home insurance rates for new construction. Its average annual premium is just $557, while the state average for these homes is $754.
These companies also offer great rates for new homes:
- Nationwide, which charges about $657 per year to insure a new West Virginia home
- Allstate, where homeowners pay about $725 per year to insure a new home
Cheapest for older homes
Older homes cost about $1,376 per year to insure on average in West Virginia. But those who work with American Select Insurance only pay about $1,198 annually. This is based on a 50-year-old home with no claims history.
These companies also offer reasonable rates for older homes:
- AAA, where a 50-year-old home costs about $1,225 to insure
- Nationwide, which charges older home owners about $1,259 annually
Cheapest for homeowners who have filed a claim
Filing a single claim raises the average West Virginia home insurance premium to $1,770 per year. But those insured by American Select only see their rates climb to about $1,131 annually.
These companies also offer cheap homeowners insurance in West Virginia for those who have filed claims before:
- State Farm, where homeowners who have filed one claim pay about $1,569 per year on average
- Erie Insurance, which charges these homeowners about $1,736 per year on average
Average homeowners cost in West Virginia compared to the national average
Overall, West Virginia homeowners insurance is a little cheaper than the national average. In particular, older homeowners pay quite a bit less per year. But home insurance rates depend on many factors, including the cost and construction of the home, the homeowners insurance claims history, and more. So the only way to know how much a company will charge a particular person is to get a quote online.
| Average Rate Category | West Virginia | National Average |
|---|---|---|
| Overall | $1,440 | $1,787 |
| New home construction | $754 | $984 |
| Older homes | $1,376 | $1,755 |
| When making a claim | $1,770 | $1,971 |
Data source: Quadrant Information Services data
West Virginia homeowners insurance overview
Here are a few things West Virginia homeowners should know when shopping for insurance.
Cost varies widely by location
Residents of north central West Virginia typically pay the lowest homeowners insurance rates in the state. By contrast, those who live close to the Kentucky border typically pay the most overall. But there are many factors that influence homeowners insurance rates apart from location.
Cheap homes in West Virginia could contribute to lower rates
The typical home in West Virginia only costs about $137,268, according to The Ascent's research on average home price by state. That's much lower than the national average. This could explain why the state's average annual homeowners insurance premium is so low. Cheaper homes are generally less expensive to insure. But this also means that more expensive West Virginia homes may see higher premium prices than those reflected above.
What are the most common homeowners insurance claims in West Virginia?
Here's a look at some of the most common homeowners insurance claims in West Virginia.
Wind damage
Thunderstorms and tornadoes can both cause high winds that can do a lot of damage to a house. They can rip shingles off roofs and bring nearby trees down on homes. That's part of what makes wind claims so expensive for homeowners. Many insurance companies now require policyholders to pay a separate, higher wind/hail deductible when filing a wind damage claim to help cover some of these costs.
Flood damage
Floods are one of the most common and costly natural disasters. They can happen in all 50 states and in all seasons. It's especially common in the southern and western parts of West Virginia, which are also the areas that have the highest average homeowners insurance premiums. Unfortunately, a typical homeowners insurance policy doesn't cover flooding. Homeowners will need to buy a separate flood insurance policy to ensure they're fully protected.
Winter storm damage
Winter storms can freeze pipes, causing them to burst, and cave in roofs if there's enough snow. When snow melts in spring, that can also trigger flooding. Homeowners can take steps to reduce the likelihood of a winter storm claim by insulating pipes and shoveling roofs. But having adequate homeowners insurance is also key.
Homeowners insurance coverage options and discounts in West Virginia
The following homeowners insurance discounts can help West Virginia homeowners save big on their policies.
Bundling is the best way to save
Homeowners who bundled their home and auto insurance with the same company dropped their average homeowners insurance policy to $1,112 per year. That's a savings of over $300 annually.
A new roof could save homeowners $200 annually
West Virginia homeowners who have recently replaced their roof should shop around for new homeowners insurance as they could save about $200 per year compared to the state average.
Sprinklers save homeowners money as well as protecting their home
Those looking to reduce their risk of fire damage could consider installing sprinklers in their homes. Again, there's an upfront cost associated with this, but it reduces the average West Virginia homeowners insurance premium by over $100. That's more than the average discount for having smoke alarms or monitored fire alarms.
Five cheapest cities in West Virginia for homeowners insurance
The following five cities have the cheapest West Virginia homeowners insurance premiums on average:
| City Name | Average Home Insurance Rate |
|---|---|
| Morgantown | $1,129 |
| Clarksburg | $1,145 |
| Granville | $1,145 |
| Osage | $1,172 |
| Keyser | $1,172 |
Data source: Quadrant Information Services data
Five most expensive cities in West Virginia for homeowners insurance
Residents of these five cities pay the most for their West Virginia homeowners insurance:
| City Name | Average Home Insurance Rate |
|---|---|
| Breeden | $2,051 |
| Dunlow | $1,995 |
| Kermit | $1,990 |
| Crum | $1,975 |
| Lenore | $1,938 |
Data source: Quadrant Information Services data
Our Insurance Expert
Kailey Hagen has been writing about small businesses and finance for almost 10 years, with her work appearing on USA Today, CNN Money, Fox Business, and MSN Money. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.
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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
The data found on this page is a combination of publicly available quote data obtained directly from the carrier as well as insurance rate data from Quadrant Information Services. These rates were publicly sourced from the top ten (10) to fifteen (15) carrier markets, within each state, based on annual written premium and should be used for comparative purposes only -- your own quotes may be different.
Citigroup is an advertising partner of The Ascent, a Motley Fool company. Kailey Hagen has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.