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:
