Condo Insurance in Tennessee

Find the right condo insurance policy for you.

Ann Herro, Insurance Expert Written by Ann Herro
Ann Herro, Insurance Expert
Written by Ann Herro

Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.


Cooperative living is an ideal housing alternative for many residents of Tennessee. Condominium and townhome owners can benefit from close proximity to shopping and dining, hassle-free maintenance of common areas, shared amenities such as swimming pools, clubhouses, and fitness centers and affordable condo insurance policies. Whether you own a condominium in downtown Memphis for its convenient location near your work or have chosen to spend your retirement years in a townhouse near Douglas Lake in Sevierville, comparing condominium insurance quotes in Tennessee can help you find a policy that is both inclusive and affordable.

Contact an independent insurance agent to find the best insurance plan in your area. You tell us what you’re looking for, and our technology will recommend the best agents for you. Any information you provide will be sent to only the agents you pick. We do not sell to third parties.

Median Condo and Townhome Prices in TN

  • Memphis: $148,500
  • Nashville: $189,500
  • Knoxville: $149,900
  • Chattanooga: $79,900
  • Murfreesboro: $121,000
  • Johnson City: $105,000

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What Is Condo (or H06) Insurance?

Condo insurance is a very specific type of homeowners insurance that is designed specifically to meet the unique needs of those who live in cooperative living arrangements, such as condo and townhouse owners. These policies are sometimes referred to as H06 policies because they use the standardized H06 Unit-Owners Form, which provides coverage of your personal property, walls, floors, and ceilings against all listed perils.

Your condo association will have a master policy that covers the physical structure of your building as well as all of the common areas, including the walkway just outside your front door. However, these policies do not provide coverage for damages within your unit. For walls-in coverage, you will rely on your condo insurance.

Condo Insurance Can Shield You from Liability Expenses

Many homeowners rely on their home insurance policies to provide them with liability protection, and condo insurance policies are no different. Liability claims are not filed very often, but if you find yourself in a situation where you need this coverage, you will be glad you have it as it can save you thousands of dollars. Your liability protection may be able to cover damages related to:

  • Third-party personal injuries that occur within your home, if they can be shown to have been the result of negligence on your part
  • Third-party property damage that occurs within your home as a result of your own negligence
  • Some instances of personal injury caused by you outside your home, such as while skiing or engaging in other leisure activities
  • Property damage or injuries caused by your pets, regardless of where it took place
  • Property damage or injuries caused by your children, regardless of where it took place
  • Charges of libel or slander

In addition to covering the compensation owed to injured third parties, your liability coverage can also cover any related legal defense fees and court costs up to the limit of your coverage amount.

Condo Insurance Covers Personal Property

Your condominium insurance policy can protect you from the financial burdens associated with replacing lost or damaged items due to disasters such as fire, severe weather, and property crimes. Be sure to purchase enough coverage to adequately cover all your personal belongings, including clothing, cookware, furniture, carpeting, and appliances, so that you can easily recover financially if you should suffer a total loss—as might happen in the case of a fire. Policies sometimes have limits for how much coverage can be included under certain categories such as electronics, jewelry, and artwork, so if the value of your property greatly exceeds these limits, you may want to purchase additional riders so that you are fully covered.

Though uncontrolled residential fires are relatively rare, condo owners have an elevated risk of experiencing fire damage. This is because they live in very close proximity to their neighbors. If a fire starts in one unit, it can easily spread to neighboring ones. If there is a fire in your complex, the most important thing to do is to get yourself and your family safely out of the building. Your condo insurance policy can help you replace your belongings, but it cannot replace those you care about.


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Recent Tennessee Inclement Weather Statistics

  • Residents of TN filed 41,192 hail claims, the 7th highest in the nation.
  • On average, 12 tornadoes touch down in this state each year.
  • That equates to 2.91 tornadoes per every 10,000 sq. ft. of land.

Weather conditions in Tennessee can play a significant role in causing damage to your personal property. Although most weather-related property damage is limited to the structure of the building and is therefore covered by your master policy, you will need the coverage afforded by your condo insurance if damage occurs within your home. This may happen if heavy winds cause windows to break or if roof damage leads to an influx of water into your condo. 

It is important that you are aware that, like most home insurance policies, condo insurance does not provide coverage against flood damage. If your unit is on the ground or below-ground floor, you may want to consider supplementing your policy with flood insurance. Most Tennessee residents qualify for flood insurance through the National Flood Insurance Program.

Tennessee Property Crime Statistics

According to Neighborhood Scout:

  • The per capita property crime rate in TN is higher than the U.S. average.
  • On average, 8.70 out of 1,000 Tennessee residences are burglarized each year.
  • By comparison, 6.70 out of 1,000 U.S. residences are burglarized annually.
  • Approximately 56,000 burglaries are reported in this state each year.
  • Collierville, TN has the lowest burglary rate with just 1.81 burglaries per 1,000 residences.
  • Memphis has the highest burglary rate in the state with 19.2 burglaries per 1,000 residences, nearly three times the national average.

Because most condominium complexes are gated or include some type of secure entry system, condo owners are afforded a measure of security. However, any time you have a lot of people living in close proximity, burglars can find a way in. Because of their decreased risks, condo owners in safer areas such as Collierville and Spring Hill will likely pay lower insurance rates than those in areas such as Memphis and Jackson, where burglary rates are elevated.

If your condo or townhome is burglarized, you should first secure your own safety and then call the police to file a report. Next, contact your insurance company or agent with an inventory of any lost or damaged property. You will need a copy of the police report when you file your claim. Being the victim of a burglary can be very stressful, but knowing that your insurance company is there to back you up may provide some relief.

Compare Quotes for Policies to Cover Your Tennessee Condo

When you are shopping for the right condo insurance policy, an independent agent in our network may be able to provide assistance. These agents can help you review your master policy to ensure that the condo policy you select is right for you. They can also use their relationships with a variety of insurance providers to provide you with several competitively-priced policies from which to choose.

Contact an independent insurance agent with an office near you in Tennessee and you can start comparing condo insurance quotes today.

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