Chattanooga is the fourth-largest city in Tennessee with a population of nearly 180,000 residents. The city of Chattanooga has faced some tough times in its storied history, but in recent years its image has undergone a transformation. While numerous neighborhoods and buildings appear on the National Register of Historic Places, this modern city is also recognized for its affordable housing, ample recreational opportunities, and low cost of living—making it a great place to live and work.
Homeowners in Chattanooga, however, are not immune to break-ins, fires, and severe weather that can easily damage or destroy their homes and personal property. If you own a home in Chattanooga, you need affordable homeowners insurance that covers your risks. Having reliable, responsive homeowners insurance means having peace of mind in the face of unpleasant events. Local independent insurance agents can help you find the best and most affordable insurance coverage for your home.
Liability Insurance for Chattanooga, TN Homeowners
Your home insurance policy covers your home’s structure and your belongings. It also includes liability coverage, which is designed to help you pay for a variety of expenses if you are sued for negligence. If someone is injured on your property, your liability coverage will pay for their medical expenses related to the accident. If they sue you for additional damages, your liability coverage pays for attorney fees, court costs, and any settlements or judgments that you are required to pay to the injured party. Consider these examples of when your homeowners liability coverage is invaluable:
- A guest in your home trips on loose carpeting and breaks her ankle.
- Your child hits a baseball through a neighbor’s window.
- Your dog bites a passerby.
- You are accused of libel or slander because of something you posted on social media.
Learn more about liability insurance from a local independent insurance agent. You might find that you need more coverage than your home insurance policy allows. In this case, you can purchase a personal umbrella policy, which offers liability coverage beyond what is provided in your home or auto insurance policy.
Burglary Rate in Chattanooga, TN
The home burglary rate in Chattanooga is higher than both the state and national averages. This means that residents of neighborhoods where property crime is more prevalent may pay more than average for home insurance.
- Number of burglaries per 1,000 homes in the US: 4.69
- Number of burglaries per 1,000 homes in Tennessee: 6.06
- Number of burglaries per 1,000 homes in Chattanooga: 8.83
No matter where you live, you can be the victim of a home burglary, break-in, or vandalism. Your home insurance is designed to reimburse you for loss or damage following such an event. But remember, you have to pay your deductible first, and your insurance company will handle the rest. Don’t wait until it’s too late. Take precautions to protect your home from burglaries, and remember that having a home security system is one of the best ways to keep burglars out. What’s more, homes with burglar alarms often qualify for extra discounts on home insurance.
Catastrophic Events in Tennessee
- Number of declared disasters in Tennessee: 69
- Most common reasons for disasters in the state: Severe Storms and Floods
- Average number of tornadoes per year in Tennessee: 29.1
- Average amount of property damage per year in Tennessee: $1,153,112,000
- 1 in 15 insured homes has a claim each year
Homeowners insurance is designed to cover a variety of hazards you face as a homeowner. Fires, severe weather, and break-ins can cause significant damage to your home, and without home insurance, you’d have to pay for repairs on your own. There is a real threat of severe weather and flooding in Tennessee. Tornadoes can occur anywhere across the state and can wipe out your entire property.
An insurance agent can help you review your structure and contents coverage limits so you can be sure that they are high enough to enable you to rebuild, repair, or replace if necessary. Be sure to ask your insurance agent if you need flood insurance. Flood damage is not covered by your standard home insurance policy; it must be purchased through the National Flood Insurance Program (NFIP).
Cost of Homeowners Insurance in Chattanooga, TN
Tennessee is the 22nd most expensive state for home insurance in the US, and the average cost of homeowners coverage in Chattanooga is lower than both the state and national averages.
- National average yearly premium: $1,173
- Tennessee average yearly premium: $1,149
- Chattanooga average yearly premium: $1,075
Your home insurance rates may be higher or lower than average, depending on your home’s unique characteristics (size, location, age, value, etc.) and other risk factors (crime rate, severe weather risk) in your neighborhood. If your property’s location comes with more hazards than most, expect to pay more. You will also pay more if your home will cost more to repair or rebuild than others. If you own a home in one of Chattanooga’s many historic districts, you may have special coverage needs and may have to pay more than average to cover your very special residence.
Comparing quotes from multiple insurance companies and making sure you are maximizing your discounts is the best way to make sure you’re getting the best rate on your home insurance, no matter where you live in Chattanooga. A local independent insurance agent can help you do just that and can guide you through the process to ensure you are getting the coverage you need.
Second Home and Vacation Home Insurance
Tennessee offers a wide variety of recreation opportunities across the entire state. Perhaps you are lucky enough to own a hunting cabin or a home on one of the state’s many beautiful lakes. If you own a second home, vacation home, or rental property, you need to ensure that you have appropriate coverage for how each property is used.
- Hunting cabins and lake homes may only be occupied seasonally or on weekends. These properties are often targets for thieves, and property damage that occurs while you are gone can go unnoticed for long periods and get worse. Vacant home insurance may be needed in these situations.
- If you own a rental property or a vacation home that you rent out to tenants, landlord insurance can help cover the specific risks you face as a landlord.
An independent insurance agent can help you review the unique coverage needs for all of your residential properties. You can evaluate competitive quotes to make sure you’re getting the best price.
Why Work with an Independent Insurance Agent?
Independent insurance agents in your city can help you find a reliable and affordable home insurance policy. Independent agents aren’t tied to one company, so you can be sure you are getting honest, unbiased advice.
Contact an agent in Chattanooga to start comparing customized home insurance quotes.
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