Nashville Homeowners Insurance

Your Complete Guide to Nashville, TN Homeowners Insurance

Find the right homeowners insurance policy for you.

Nashville, Tennessee is the 24th most populous city in the US and the most populous city in the state of Tennessee. It is the center of the country music industry, and the rest of the city’s economy is booming, as well. Nashville had the third-fastest growing economy in the US, and it has been named the “hottest housing market” in the US by both Freddie Mac and Zillow. Whether you’ve lived in Nashville all your life or you're one of the city’s many new residents, you need to protect your investment in your home with a reliable home insurance policy. When you're shopping for Nashville home insurance, ask a local independent insurance agent for help. 

Average Cost of Homeowners Insurance in Nashville, TN

Tennessee is the 22nd most expensive state for home insurance in the US. The average cost of homeowners coverage in Nashville is slightly higher than the state average. 

  • National average yearly premium: $1,173
  • Tennessee average yearly premium: $1,149
  • Nashville average yearly premium: $1,298

Your homeowners insurance premiums may vary from the average cost in your city. That’s because rates are determined according to your unique home and coverage needs. Insurance companies calculate individual home insurance rates based on a variety of risk factors, such as:

  • The age, size, value, and building materials of your home
  • Whether the property is your primary residence or a second home
  • The type of home you are insuring (e.g., detached single-family house, townhouse or condo, mobile home, etc.)
  • The crime rate and weather hazards in your city or ZIP code
  • Your claims history and credit score
  • The amount of coverage and deductible that you choose

Many policyholders qualify for discounts if they bundle multiple insurance policies with the same insurance company. Consider bundling your car insurance or life insurance with your home insurance in order to get the best rates. 

What Is the Burglary Rate in Nashville, TN?

The home burglary rate in Nashville is similar to the national average and lower than the average for the state of Tennessee.

  • 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 Nashville: 4.29

It’s important for Nashville residents to protect their homes from burglaries, break-ins, and vandalism. And if you experience a home burglary, a reliable homeowners insurance policy can help you get back on your feet quickly. Home insurance helps you pay for damage to your home, as well as repairing or replacing stolen or damaged possessions. Consider installing a home security system, too. Not only are burglar alarms the best deterrents for thieves, but having one may also earn you a discount on your homeowners policy. 

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

The most common causes of natural disasters in Tennessee are severe storms and floods. In Nashville, rain, wind, hail, lightning, and even occasional snow or ice can cause costly damage to your home. While your homeowners insurance will cover you for property damage related to most of these weather events, you need separate flood insurance to reimburse you for any damage caused by flooding. Ask an independent insurance agent about flood insurance. If you need coverage, flood insurance can be purchased from the National Flood Insurance Program (NFIP) with the help of your local agent. 

Liability Insurance for Nashville Homeowners

Homeowners insurance provides policyholders with liability insurance. It is designed to cover you for claims of negligence and lawsuits that you may face as a property owner. If your dog bites a neighbor, or a guest trips inside your home and is injured, you're likely to be expected to pay for medical bills or other expenses related to the incident. What’s more, these types of incidents often lead to lawsuits. 

Your liability insurance pays for the injured party’s medical expenses, as well as court costs, attorney fees, and any settlements or judgments that you have to pay. If you have liability risks beyond what your home insurance policy can cover, talk to an independent insurance agent about how a personal umbrella policy can supplement your other coverage and offer extensive protection of your assets if you are sued. 

Second Home and Vacation Home Insurance

Tennessee has abundant recreational opportunities. Not only is Nashville a popular tourist destination, but also the city is home to five universities, including Tennessee State University and Vanderbilt University. Many Nashville residents take advantage of the local attractions by owning second homes, vacation homes, or even rental properties for college students. Properties that do not serve as a primary residence have additional risk factors that may make a traditional homeowners insurance policy insufficient. 

Special policies like landlord insurance for rental properties and vacant home insurance for unoccupied or seasonal homes offer better protection. But because of the varied and increased risks of second homes, this coverage may actually cost more than the coverage for your primary residence. If you are a Nashville resident who owns a second home or a vacation home, a local independent insurance agent can help you find the customized coverage you need. 

Why Work with an Independent Insurance Agent?

Independent insurance agents are available to help you with your personal insurance needs. A local agent can answer questions about coverage, get competitive quotes, and help you make an educated choice for the policy that meets your needs and budget.  

Contact an agent in Nashville to learn more. 

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http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
http://www.city-data.com