Insurance companies calculate home insurance costs by asking, "How likely is it that something bad will happen?" The more likely it is that a damaging event can happen to your house, the more expensive your home insurance policy will be. We call these potential disasters "risks” or “exposures.” Let’s take a look at how risky Tennessee is compared to the rest of the US.
The burglary rate in Tennessee is higher than the national average. Be sure to protect your property by keeping doors and windows securely locked, keeping entryways well-lit and unobstructed from view, and putting lights on timers when you are out of town. Installing a burglar alarm can earn you a discount on your home insurance costs.
- Average number of burglaries per 1,000 homes in TN: 6.06
- Average number of burglaries per 1,000 homes in the US: 4.69
Severe weather, including hailstorms and tornadoes, can wreak havoc on residential properties in this state. Be sure that your home insurance provides all the coverage you need before disaster strikes.
- Number of federally declared disasters since 1953: 68
- Most common cause of disasters in the state: Severe Storms
- Average number of tornadoes per year in the state: 29.1
- Amount paid in home insurance claims in 2016: $1,153,112,000
- Average home value in TN: $157,700
- Average home value in the US: $188,900