Microporous polyolefin and microporous polydicyclopentadiene (polyDCPD) based aerogels and methods for preparing and using the same are provided. The aerogels are produced by forming a polymer gel structure within a solvent from a olefin or dicyclopentadiene monomer via Ring Opening Metathesis Polymerization (ROMP) reactions, followed by supercritical drying to remove the solvent from the aerogel. Other aerogels are prepared by sequentially (1) mixing at least one dicyclopentadiene monomer, at least one solvent at least one catalyst and at least one inorganic and/or organic reinforcing material, (2) gelling the mixture, (3) aging, and (4) supercritical drying. Aerogels provided herein are inexpensive to prepare, possess desirable thermal, mechanical, acoustic, chemical, and physical properties and are hydrophobic. The aerogels provided herein are suitable for use in various applications, including but not limited to thermal and acoustic insulation, radiation shielding, and vibrational damping applications.