How Much Does Renters Insurance Cost in Richmond, VA?
Richmond pricing is near the national average. Updated for 2026.
Based on local labor rates, varied climate conditions, and Richmond's diversified economy.See our methodology
Renters Insurance Pricing in Richmond, VA
Richmond offers near-average pricing for renters insurance, making it a reasonable market for this service. The local diversified economy supports a balanced labor pool, and the city's 230K population base ensures you can find multiple qualified providers to compare quotes.
Local climate plays a direct role in renters insurance costs here. Four seasons mean year-round maintenance needs; coastal areas face flood and moisture risks.
Market-specific factors matter in Richmond: moderate to high cost of living depending on proximity to major cities.
Richmond has moderate permitting requirements. Depending on the scope of your renters insurance project, you may need local permits. A licensed contractor will handle the permitting process as part of the job in most cases.
Richmond vs National Average
What Affects Renters Insurance Cost in Richmond?
Coverage
$20K: $10-$15/mo; $50K: $20-$35/mo
Location
High-crime adds 50-100%
Deductible
$500 vs $1,000 saves $3-$8/mo
Richmond Market Conditions
moderate to high cost of living depending on proximity to major cities
Local Climate Impact
four seasons mean year-round maintenance needs; coastal areas face flood and moisture risks
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Top-Rated Renters Insurance Pros in Richmond, VA
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Tips to Save on Renters Insurance in Richmond
- 1.Bundle with auto for 10-20% discount
- 2.Increase deductible to $1,000
- 3.Create home inventory
- 4.Actual cash value is cheaper
📈 Renters Insurance in Richmond Cost Trends (2020–2024)
Prices have increased +25.0% over the last 5 years
| Year | National Avg | YoY Change |
|---|---|---|
| 2020 | $16 | — |
| 2021 | $17 | +6.3% |
| 2022 | $18 | +5.9% |
| 2023 | $19 | +5.6% |
| 2024 | $20 | +5.3% |
Based on national averages adjusted for annual inflation. Actual costs vary by location and project scope.
💬 What Did You Pay?
Real costs reported by homeowners for Renters Insurance in Richmond
Recent Reports
Frequently Asked Questions
How much?
$15-$30/month on average.
What is covered?
Personal property, liability, additional living expenses.
Why does renters insurance cost different in Richmond than other cities?
Richmond's costs reflect local labor rates driven by the diversified economy, varied climate conditions that affect materials and scheduling, and moderate permitting requirements. The balanced labor market also influences competitive pricing.
Renters Insurance Cost in Nearby Cities
Popular Services in Richmond
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