Morristown Homeowners Insurance

Your Complete Guide to Morristown, TN Homeowners Insurance

Find the right homeowners insurance policy for you.

Morristown, Tennessee has a population of around 30,000 residents. While the downtown district and several buildings in Morristown are listed on the National Register of Historic Places, other areas in town are undergoing an important revitalization in an effort to draw new residents and visitors to the city. Homes anywhere can be impacted by fire, severe weather, and even break-ins or vandalism—and homes in Morristown are no different. 

If you are a homeowner in Morristown, the best way to protect your home from these types of unforeseen events is to purchase a responsive and reliable home insurance policy. Where can you find an affordable policy with the coverage you need? An independent insurance agent can help you obtain the best and most affordable insurance coverage for your Morristown home. 

Average Cost of Homeowners Insurance in Morristown, TN

Tennessee is the 22nd most expensive state for home insurance in the US. The average cost of homeowners coverage in Morristown is lower than both the state and national averages. 

  • National average yearly premium: $1,173
  • Tennessee average yearly premium: $1,149
  • Morristown average yearly premium: $819

When you receive quotes for homeowners insurance, expect your premiums to be more or less than the average for your city. Everyone’s insurance rates are a little different because they are based on your individual home’s characteristics, the risk factors in your neighborhood, and the amount of coverage you need. Some of the factors used to calculate homeowners insurance rates include:

  • The type of home you are insuring (e.g., single-family detached home, multi-family home, mobile home, townhome, etc.)
  • Whether the house you are insuring is your primary residence
  • The size, age, and value of your house 
  • The materials used in your home’s construction
  • Your claims history and credit score
  • Your coverage limits and the deductible that you choose
  • The crime rate and weather risks in your city or ZIP code
  • Whether you are bundling your coverage with other policies like car insurance

The best way to make sure that you are getting the best price is to shop around. A local independent insurance agent can get quotes from multiple insurance companies, so you can compare costs and coverage and make the best choice for your needs and budget. 

What Is the Burglary Rate in Morristown, TN?

The home burglary rate in Tennessee is quite high compared to the national average. In Morristown, your chance of experiencing a home burglary is even higher. 

  • 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 Morristown: 6.91

If you live in Morristown or anywhere else, it’s important to protect your home from break-ins. And should the worst happen, you need home insurance to reimburse you for your losses as well as for any damage the burglar may have caused. A local independent insurance agent can help you be certain that your home and your possessions are properly insured. If you have items like expensive jewelry, special collections, or family heirlooms, ask your agent about adding special endorsements or riders to ensure these items have appropriate coverage. 

Be sure to tell your insurance agent if you have a home security system. While security systems are among the best deterrents for burglars, having one will also help you save some money on your home insurance. Most insurance companies offer discounts to homeowners with burglar alarms.

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

Tennessee homeowners insurance protects you from the financial consequences of most property losses you could experience. From a small kitchen fire to a devastating tornado, a reliable home insurance policy will help reimburse you for repair costs, lost and damaged possessions, and even living expenses if you can’t live at home while you make repairs. 

Severe storms and floods are a real threat in Tennessee. It’s important to keep in mind that flood damage is not covered by your homeowners insurance policy. Tennessee residents should consider purchasing separate flood insurance from the National Flood Insurance Program (NFIP). Your independent insurance agent can help guide you. 

Liability Insurance for Morristown Homeowners

Liability insurance is one of the most important parts of any homeowners insurance policy. It is designed to protect you when someone claims you have caused an injury or property damage. In these cases, it’s not unlikely that you could be sued for negligence. Without insurance protection, a lawsuit could be financially devastating. 

But the liability insurance portion of your homeowners policy takes the worry away. It covers court costs, legal fees, and even settlements or judgments levied against you if you are sued. Talk to your independent insurance agent to learn how an umbrella policy can offer even more liability coverage than your home insurance policy will allow. An umbrella policy supplements the liability coverage in both your home and auto insurance policies. 

Second Home and Vacation Home Insurance

If your primary residence is in Morristown and you own a second home, vacation home, or rental property, you have special insurance considerations. It’s important to talk to your insurance agent about how to sufficiently insure all of your residential properties. Because second homes often have different risks than primary residences, you might need insurance coverage that is different from a standard home insurance policy. 

  • Rental property owners have high liability risks. Landlord insurance can help protect you from the costs of liability claims and lawsuits.
  • Thieves and vandals often target homes that are empty for long periods. What’s more, water damage, ice damage, and fires are more common in homes that are only occupied seasonally. Talk to an independent agent to see if vacant home insurance can help in your situation. 

Why Work with an Independent Insurance Agent?

The easiest way to find a reliable and affordable homeowners insurance policy is by contacting a local independent insurance agent. These agents work for you, not for a particular insurance company, so you can be sure that you are receiving trustworthy guidance and the coverage you need. 

Contact an agent in or near Morristown to start comparing customized, competitively priced home insurance quotes. 

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