Hurricane Season Threatens Billions in Damage in Virginia

Mutual Assurance Society
Jun 12
3 min read

Downed tree from strong winds lands in homeowner's yard.

As this year’s hurricane season ramps up, insurance experts are warning that the cost of storm-related damage could once again reach into the billions. While the focus often falls on states like Florida and Texas, homeowners in Virginia should not let their guard down.

According to catastrophe modeling firm Cotality, more than 33 million homes nationwide face moderate or greater risk from hurricane-force winds this season, and over 6 million homes—many along the Atlantic—are at risk of storm surge flooding.

Virginia sits squarely within this zone of concern, especially for homes near the coast, rivers, or low-lying areas. The report concludes that over 1.23 million homes in the Commonwealth are at risk, with an estimated reconstruction cost value of $415.4 billion.

“It may not take a record number of storms to cause record-level damage,” said Tom Larsen, Cotality’s assistant VP of product marketing for insurance. "Even one major hurricane can leave a long trail of costly destruction.”

Why This Matters for Virginia

The 2025 hurricane season, which runs through November 30, is projected by NOAA to be above-normal, with up to 19 named storms, as many as 10 hurricanes, and several major hurricanes expected. While this year’s forecast is slightly calmer than 2024, the reality is clear: it only takes one.

Just last year, hurricanes like Helene and Milton caused over $100 billion in damage. Virginia was spared the worst, but it doesn't mean we always will be. With changing storm tracks and rising sea levels, even inland Virginia homeowners now face higher flood and wind risks.

Are You Properly Covered?

Most standard homeowners insurance policies in Virginia (HO-3 & HO-5) do cover wind damage, but that doesn’t mean you’re fully protected. Hurricane or wind deductibles often apply in high-risk areas, meaning you could face out-of-pocket costs before insurance kicks in.

In addition, many Virginians may not realize that flood damage is excluded from standard homeowners insurance. You must buy a separate flood policy, either through the National Flood Insurance Program (NFIP) or a private insurer.

"Lack of flood insurance is the largest gap in coverage we see across the country," said Mark Friedlander of the Insurance Information Institute. "Inland flooding, like what we saw last year, can be catastrophic and is becoming more common — even outside designated flood zones."

A Costly Gamble

Living in harm’s way is becoming more expensive. Rising insurance premiums, higher deductibles, and inflation-driven repair costs mean that homeowners with inadequate coverage could suffer devastating financial consequences.

Many try to cut costs by increasing their deductibles or dropping optional protections — but that can backfire during a major storm.

"If you have a 10% hurricane deductible on a $400,000 home, that’s a $40,000 bill before insurance even helps,” said Julia Talieson of Insurify. “And without flood coverage, your home could be a total loss with no reimbursement.”

What All Virginia Homeowners Should Do Now

1. Review Your Policy - Ensure your home insurance policy includes windstorm coverage and understand if a hurricane deductible applies. Know the percentage and how much you'd owe out of pocket after a storm.

2. Purchase Flood Insurance - Regardless of whether you live in a FEMA flood zone, consider buying flood coverage. With 90% of U.S. catastrophes involving flooding, this extra layer of protection is increasingly essential, especially in Virginia, where storm runoff and river flooding can affect even inland areas.

3. Document and Prepare - Take photos of your home, roof, and property. Inventory valuables. Store these records safely or digitally. Keep gutters clean, secure loose items, and have your roof inspected if it’s aging or damaged.

4. Build an Emergency Fund and Kit - Storms can delay claim payouts. Having cash on hand and a basic disaster supply kit — water, medications, flashlights, documents, and backup power — can make a major difference.

5. Make a Plan - If evacuation becomes necessary, don’t wait. Know your route and have essentials ready. If you can afford to leave early, do so. Don’t rely on FEMA or state aid as your only backup.