Find the Best Homeowners Insurance Rates & Companies in Tennessee
The average cost of homeowners insurance in Tennessee is slightly below the national average. While US homeowners overall pay about $1,211 annually for coverage, Tennessee residents pay just $1,196 for theirs. Home insurance rates in Tennessee rank 22 for the most expensive in the country.
Average new home prices in Tennessee are currently about $303,453. Your home is a pricey investment, so it deserves the right protection in case of disaster. That's why it's critical to get equipped with a home insurance policy ASAP.
An independent insurance agent can help you find the right home insurance policy for you. But for starters, here's a behind-the-scenes look at homeowners insurance in Tennessee.
Best Homeowners Insurance Companies in Tennessee
Home insurance can be purchased from many different carriers, no matter where you live. But you want to skip the hassle of browsing endless companies that won't deliver what you want. That's why we've gone ahead and compiled a list of our top choices for the best home insurance companies in Tennessee. Start with these gems:
- Stillwater: Stillwater offers home insurance along with many other types of personal property coverages. Excellent ratings for financial strength and overall by the Better Business Bureau (BBB), as well as 24/7 claims reporting make Stillwater a fantastic choice.
- Nationwide: Nationwide offers home insurance and numerous other products for individuals. Excellent ratings by both AM Best and the BBB, and 24/7 claims reporting make Nationwide a great option.
- Encova: Encova offers home insurance along with many other coverage options. Numerous discount options and high ratings by AM Best and the BBB, along with 24/7 claims reporting, all make Encova a carrier you can't go wrong with.
- Travelers: Travelers also offers home insurance as just one piece of its extensive catalog. A history of excellent financial strength and customer feedback, multiple discount options, and 24/7 claims reporting make Travelers a top-notch choice.
A Tennessee independent insurance agent can help you decide if any of these top carriers offer the home insurance policy that fits you best.
What Homeowners Insurance in Tennessee Can Cover
Certain coverages come standard in homeowners insurance policies across the map, including in Tennessee. These basic coverages are:
- Liability coverage: This coverage can pay for your legal fee if you get sued by a third party for claims of personal property damage or bodily injury.
- Contents coverage: This coverage can reimburse for damage or destruction to your personal belongings like furniture and clothing after theft, fire damage, and more.
- Dwelling coverage: This coverage can reimburse for damage or destruction of the home's structure after a disaster like lightning strikes, fire damage, vandalism, etc.
- Loss of use coverage: This coverage can reimburse for unexpected costs after a major disaster like a fire displaces you from your home temporarily, forcing you to have to stay somewhere like a hotel.
Tennessee is also prone to a few natural disasters, which may or may not be covered by home insurance. First, it's necessary to become familiar with your state's most common natural disasters, which are:
- Earthquakes
- Wildfires
- Floods
- Severe storms
- Tornadoes
Home insurance can reimburse for costs of wind damage to your home by severe storms and tornadoes, but it can't reimburse for costs of earthquake damage or natural flood damage. You'll need a flood insurance policy to recover the costs of damage caused by flooding from severe storms, hurricanes, and more.
What Homeowners Insurance in Tennesse Will Not Cover
Home insurance, like any other coverage, comes with a list of common exclusions. Don't look to your home insurance to cover any of the following costs:
- Home wear and tear
- Your or your family's malicious or intentional acts against others
- Sewer backup damage to your home
- Business-related losses in your home
- Maintenance-related losses in your home
Flood damage in Tennessee
Flooding and severe storms are a couple of the top natural disasters in Tennessee, so it's a good idea to talk to your independent insurance agent about adding flood coverage. A sewer backup endorsement might also be a good option. If a sewer line or sump pump fails, backs up, or breaks, having this endorsement can help you recover the costs of damage to your home that would otherwise have been excluded by a standard home insurance policy.
Average Cost of Homeowners Insurance in Tennessee
The rates of home insurance in Tennessee are about neck and neck with the current national average of $1,211 per year. Residents in Tennessee pay about $1,196 for home insurance each year. Tennessee falls in just about the middle of the pack, at number 22, for overall home insurance costs in the country. Tennessee's property values, low crime rates, lower risk of natural disasters than those of other states, and more all contribute to more affordable home insurance costs.
Average Tennessee Home Insurance Costs by City
Each city has its own average home insurance rates, as well. More expensive home insurance rates can be found in cities with higher property values, crime rates, and frequency of natural disasters. In Tennessee, residents in the city of Brentwood pay the highest average home insurance rates for the state, of $2,721 per year. Contrastingly, the city with the best and cheapest homeowners insurance rates in Tennessee overall is Tullahoma, where residents only pay about $716 annually.
Average Tennessee Home Insurance Costs by City
National average burglary rate 3.76 per 1,000 people
National average home value $269,000
National average home insurance cost $1,428 year
| City | Annual insurance cost | Avg. home value | Burglaries / 1,000 homes |
| Brentwood | $2,721 | $645,942 | 2.34 |
| Chattanooga | $1,075 | $164,400 | 8.83 |
| Clarksville | $866 | $150,100 | 4.66 |
| Cleveland | $1,032 | $157,464 | 9.14 |
| Collierville | $1,569 | $297,567 | 1.8 |
| Columbia | $794 | $137,349 | 5.51 |
| Cookeville | $1,083 | $164,426 | 9.14 |
| Dyersburg | $867 | $112,226 | 15.74 |
| Franklin | $1,951 | $391,000 | 1.85 |
| Jackson | $907 | $138,400 | 9.7 |
| Johnson City | $1,053 | $171,500 | 5.89 |
| Kingsport | $840 | $138,245 | 7.05 |
| Knoxville | $835 | $128,000 | 9.86 |
| Memphis | $720 | $96,800 | 13.94 |
| Murfreesboro | $1,314 | $211,000 | 4.83 |
| Nashville | $1,298 | $210,600 | 4.29 |
| Tullahoma | $716 | $124,108 | 5.04 |
Popular Questions about Tennessee Home Insurance
Tennessee's average home insurance rates are about $1,196 annually or $99.67 monthly. The overall US average rate is $1,211 annually or $100.92 monthly.
Home insurance in Tennessee covers your home's dwelling as well as your personal property, other structures, liability, medical payments to others, and additional living expenses. You can customize your home insurance policy and add extra coverages like sewer backup endorsements, however.
Home insurance isn't required by state law in Tennessee. However, if you take out a mortgage on your home, your lender will most likely require you to provide proof of home insurance.
The coverages you select, as well as your personal claims history, both influence the cost of your home insurance premiums. Other factors that go into calculating home insurance rates are property values, local crime rates, local natural disaster risks, and more.
You have many options for home insurance in Tennessee, but our research found that Stillwater, Nationwide, Encova, and Travelers are the best picks. These companies ranked above other home insurance companies in Tennessee thanks to their high official ratings, customer reviews, coverage options, and more.
Homeowners insurance rates in Tennessee actually aren't high or expensive when compared to the rest of the nation. In fact, they're just under the national average cost of home insurance. Residents in Tennessee enjoy more affordable home insurance coverage than most others in the US.
Since there's no one-size-fits-all home insurance policy, it's best to work with a trusted expert along your coverage journey. An independent insurance agent in Tennessee will be familiar not only with the area, but with the best options for home insurance. Together, they'll help you find the right policy for you at the best possible rate, by comparing quotes from several different carriers together in one place. Now that's convenient.
Do You Know What Your Home Insurance Covers in Tennessee?
Average Cost of Home Insurance Near You
The average monthly cost of home insurance in Chattanooga, TN is $90. Your actual quoted rates will be based on the crime and weather risks in your neighborhood, the size and value of your home, the age of your roof, your claims history and credit score, and other considerations. Your monthly rate for Chattanooga homeowners insurance may therefore be higher or lower than this average.
One of the most devastating things that can happen to a homeowner is an accidental house fire. In addition to severely damaging your house, a fire can lead to a total loss of your personal belongings including furniture, electronics, clothing, and more. That is why it is important for your structural coverage to be high enough to enable you to rebuild your home and that you have sufficient contents coverage to let you replace your lost or damaged property without experiencing a large financial loss. Your insurance agent can help you make sure that the coverage levels in your Chattanooga homeowners insurance policy are high enough.
The average monthly cost of home insurance in Knoxville, TN is $70. Of course, what you will be asked to pay may differ from this average amount depending on the specific risks associated with your home. Your rate will be calculated according to factors like the size of your home, the crime rate and weather risks in your ZIP Code, the age of your roof, your credit rating, and more.
Hailstorms can be a problem in Knoxville. Large hailstones can occur without warning, causing devastating damage to your property. If hail causes damage to your roof, siding, shed, or other parts of your home, how will you pay for repairs? With Knoxville homeowners insurance, you can have peace of mind knowing that if hail damages your home, it can be returned to normal without you facing a large personal expense.
The average monthly cost of home insurance in Memphis, TN is $60. Because your homeowners insurance is completely customized to your home and other considerations, your monthly premium may be more or less than average. Insurance companies consider your home’s size, value, location, and other factors to determine your monthly rate.
Memphis has a relatively high crime rate when compared with the rest of the state and the nation overall. It is therefore important that you take precautions like having and using deadbolt locks to help secure your home. Fortunately, your Memphis homeowners insurance covers you against property loss and damage to your home if you are the victim of a burglary. If you install a burglar alarm in your home, many insurance companies will reward you with policy discounts.
The average monthly cost of home insurance in Murfreesboro, TN is $110. Not all Murfreesboro homeowners will pay the same for home insurance. Your monthly rate is based on the crime and weather risks in your ZIP Code, the size of your home, the building materials used in your home’s construction, your claims history, and more.
Severe weather can seriously damage the structure of your home, especially if it spawns a tornado. The tornado risk in this city is higher than the state average and is 74% higher than the national average. One of the worst tornadoes to hit the Murfreesboro metropolitan area was an F4 twister in 1997 that caused more than $5 million in damage. The good news is that a solid Murfreesboro homeowners insurance policy can cover the costs associated with a disaster of this magnitude.
The average monthly cost of home insurance in Nashville, TN is $108. Home insurance rates in Nashville can vary from one homeowner to the next. Your rate will be based on factors like the size, value, and location of your home, the age of your roof, the materials used in your home’s construction, and even your credit score.
One of the most expensive hazards faced by homeowners in Nashville is severe weather, including tornadoes. While not very common in this city, when they strike they can be devastating. A tornado that touched down in downtown Nashville in 1998 caused more than $100 million in damage. Homeowners insurance can help you repair and replace your home and belongings, and can even help you pay for a hotel if you are temporarily displaced while your home is being repaired.