Powered by Coverage.com (NPN: 19966249)
Advertising disclosure
This advertisem*nt is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisem*nt are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisem*nt. All offers are subject to additional terms and conditions.
Insurance disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Mary Van Keuren
Written by
Mariah Posey
Edited by
Mark Friedlander
Reviewed by
Mariah PoseyEdited by
Mark FriedlanderReviewed by
Updated May 01, 2024
USAA, Allstate, Travelers, State Farm and Auto-Owners are writing some of the best homeowners insurance in Tennessee.
Explore offers from trusted carriers
+ MORE
+ MORE
Powered by Coverage.com (NPN: 19966249)
Advertising disclosure
This advertisem*nt is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisem*nt are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisem*nt. All offers are subject to additional terms and conditions.
Insurance disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
The Bankrate Promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict, this post may contain references to products from our partners. Here’s an explanation of. Our content is backed byCoverage.com LLC, a licensed entity (NPN: 19966249). For more information, please see our
On this page
Bankrate's insurance editorial team, which includes licensed agents, dove deep when looking into the companies writing homeowners insurance policies in Tennessee to identify those offering the best value. Our intent is to help homeowners make the best choice for their property. Tennesseans pay an average of $2,370 annually for $300,000 worth of dwelling coverage — but your own rate is likely to be different.
When researching insurers, we focused on the needs of consumers. We looked at multiple factors, including average cost, third-party customer service rankings, financial strength ratings and more. Based on our analysis, these companies offer the best homeowners insurance in Tennessee:
Insurance Disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Insurance Disclosure
This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Editorial integrity
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Editorial Independence
Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a stricteditorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
On This Page
On This Page
- Compare the best home insurance companies in Tennessee for 2024
- Additional Tennessee home insurance companies to consider
- Cheapest home insurance companies in Tennessee
- Best home insurance discounts in Tennessee
- How much is home insurance in Tennessee?
- What does home insurance cover in Tennessee?
- Additional home insurance coverage types in Tennessee
- Frequently asked questions
- Methodology
Compare the best homeowners insurance companies in Tennessee
Tennessee homeowners pay an average of $2,370 annually for home insurance with $300,000 dwelling coverage, or $197 a month. This is higher than the national average of $2,153. Your own rate is likely to vary based on the specifics of your property (your home's age and condition, for example), as well as the part of the state you live in.
By analyzing average annual rates gathered by Quadrant Information Services, Bankrate chose USAA, Auto-Owners, Allstate, State Farm and Travelers as the companies providing the best Tennessee homeowners insurance. Our editorial team also assigned a Bankrate Score, out of a possible five points, based on average rates and other factors, including each company’s score in J.D. Power's 2023 U.S. Home Insurance Study, its AM Best financial strength ratings, its coverage options and more. Our Bankrate Scores might help you make a more informed decision about which insurance company is right for you.
| Insurance company | J.D. Power | Average monthly premium | Average annual premium | |
|---|---|---|---|---|
USAA | 881 /1,000 | $91 | $1,087 | |
Auto-Owners | 834 /1,000 | $159 | $1,905 | |
Allstate | 809 /1,000 | $114 | $1,364 | |
State Farm | 829 /1,000 | $163 | $1,952 | Read ReviewArrow Right |
Travelers | 790 /1,000 | N/A | N/A |
*Premiums are for $300K in dwelling coverage **USAA not officially ranked by J.D. Power due to eligibility restrictions
Home insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.
Rates refreshed as of May 2024
Read our full methodology
Powered by Coverage.com (NPN: 19966249)
Advertising disclosure
This advertisem*nt is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisem*nt are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisem*nt. All offers are subject to additional terms and conditions.
Insurance disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Bankrate's trusted insurance industry expertise
The home insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers information they need to make educated decisions when shopping for home insurance.
46
years of industry expertise
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
Compare home insurance rates
Answer a few questions to see personalized rates from top carriers.
Your information is kept secure
Powered by Coverage.com (NPN: 19966249)
Advertising disclosure
This advertisem*nt is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisem*nt are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisem*nt. All offers are subject to additional terms and conditions.
Insurance disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Leaving so soon? Your custom quotes are just minutes away.
The top 5 home insurance companies in Tennessee
Best for military-focused coverage
4.7
4.7
Rating: 4.7 stars out of 5 Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings. Bankrate Score
USAA ReviewGet a personalized quote
Avg. premium for $300K dwelling
$91/mo
Avg. premium for $300K dwelling
$1,087/yr
Customer satisfaction
881/1,000
Why USAA made our list:USAA has the highest Bankrate Score on our list, but there is one catch: its policies are only available to active-duty military, veterans and their eligible family members. If you are stationed at the Mid-South Naval Base or Arnold Air Force Base, or you are closely related to someone who is, you could qualify for membership. Discounts are also tailored to military needs, such as those on deployment who store their vehicles or those who garage their cars on a military base. Although USAA does not qualify for official ranking with J.D. Power because of its eligibility restrictions, it did receive a high score for customer satisfaction in the 2023 Home Insurance Study.
Who USAA may be good for:USAA might be a cost-effective choice for anyone who needs coverage that is geared toward the military. The company's homeowner policies, for example, feature coverage for uniforms.
Pros
- Special discounts based on military needs
- Excellent J.D. Power customer service scores
Cons
- Few local agents for in-person service
- Availability limited to military personnel and qualifying family members
USAA offers some types of insurance, such as replacement cost coverage, standard with its policies, unlike many other carriers. It does have some optional endorsem*nts, however, including the following:
- Flood insurance:This is sold as a separate policy and may be good to consider even if you don't live in a flood plain.
- Earthquake insurance:Earthquake insurance can cover your home and property if you live in an area that sees frequent tremors.
- Valuable personal property coverage:Provides a higher level of protection for property such as jewelry, smart watches, guns, cameras and more.
Best for optional coverages
4.6
4.6
Rating: 4.6 stars out of 5 Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings. Bankrate Score
Auto-Owners ReviewGet a personalized quote
Avg. premium for $300K dwelling
$159/mo
Avg. premium for $300K dwelling
$1,905/yr
Customer satisfaction
834/1,000
Why Auto-Owners made our list: Auto-Owners is a large regional provider of homeowners insurance. The company stands out for its impressive list of optional coverage types, including guaranteed replacement cost coverage, ordinance/law coverage, home cyber protection coverage, identity theft coverage and several others. The biggest disadvantage with Auto-Owners is that you must work with an independent agent to get a quote and purchase a policy, which may be convenient for homeowners who are used to shopping for coverage online.
Who Auto-Owners may be good for:If you like to have the ability to customize your policy to meet your own unique needs, you may want to look at Auto-Owners. The company's long list of endorsem*nts, or add-ons, allows you to personalize your policy in multiple ways.
Pros
- Long list of optional coverage types
- Superior financial strength rating from AM Best
Cons
- Digital policy management tools may not be as robust as competitors
- Policy quoting unavailable online
Auto-Owners is one of our top choices for add-ons and may be a good option for those who wish to customize their policy to suit their circ*mstances. Here are a few of their available endorsem*nts:
- Guaranteed home replacement cost:If your coverage limits aren't high enough to pay for all costs after a covered loss, this add-on will provide full replacement value coverage.
- Special personal property coverage:Provides broader coverage for personal items, including loss or misplacement, staining or defacing and more.
- Homeowners Plus:This endorsem*nt provides several coverage types, including damage to your property caused by an appliance leak, food spoilage from power failures and more.
- Identity theft:Provides up to $15,000 for expenses incurred when working to restore your identity.
- Equipment breakdown:Covers electrical and mechanical failures of equipment such as air conditioners and heating elements, computers and major appliances.
- Home cyber protection:Pays the costs to hire professional help to recover stolen or corrupted data and restore your device's functionality, as well as legal counsel if necessary.
Tennessee city Auto-Owners avg. annual premium for $300K dwelling Chattanooga
Auto-Owners avg. annual premium for $300K dwelling
$2,008
Clarksville
Auto-Owners avg. annual premium for $300K dwelling
$1,851
Knoxville
Auto-Owners avg. annual premium for $300K dwelling
$1,612
Memphis
Auto-Owners avg. annual premium for $300K dwelling
$2,122
Nashville
Auto-Owners avg. annual premium for $300K dwelling
$1,760
Best for low average rates
4.2
4.2
Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings. Bankrate Score
Allstate ReviewGet a personalized quote
Avg. premium for $300K dwelling
$114/mo
Avg. premium for $300K dwelling
$1,364/yr
Customer satisfaction
809/1,000
Why Allstate made our list:Allstate stands out as one of the best cheap home insurance companies in Tennessee because of its robust coverage options like yard and garden, electronic data recovery and sports equipment coverage, along with extras likeClaim Rateguard, which helps keep your costs low even if you file a claim. The company also offers a mobile app and digital tools like the Digital Locker, which is designed to help you gauge how much home insurance you might need. Although Allstate is typically regarded as a reputable provider overall, it scored below the industry average in J.D. Power’s customer satisfaction study and2023 U.S. Property Claims Satisfaction Study.
Who Allstate may be good for:Allstate had the lowest average rates of any of the companies we analyzed, so people on a strict budget may want to consider getting a home insurance quote from the company.
Pros
- Variety of digital tools available to help understand how home insurance works
- In-person agencies offer tailored, local service
Cons
- Ranked below average in J.D. Power’s 2023 Property Claims Satisfaction Study
- Ranked below average in J.D. Power’s 2023 Home Insurance Study
Allstate has an extensive list of endorsem*nts that allow you to customize your policy to suit your circ*mstances, including the following:
- Identity theft:Covers legal fees, lost wages and other costs you may incur if your identity is stolen.
- Water backup:This would help pay for damage caused by a drain or sump pump overflowing.
- Scheduled personal property:Covers valuable items, such as jewelry or antiques.
- Green improvement reimbursem*nt:If you wish to rebuild or repair your property using environmentally friendly products, this coverage will help pay for the increased cost.
- Yard and garden:Provides an increased level of coverage for trees, landscaping and lawn equipment, such as mowers.
- Electronic data recovery:Helps pay to recover lost personal computer data, including photos or videos.
Tennessee city Allstate avg. annual premium for $300K dwelling Chattanooga
Allstate avg. annual premium for $300K dwelling
$1,109
Clarksville
Allstate avg. annual premium for $300K dwelling
$1,289
Knoxville
Allstate avg. annual premium for $300K dwelling
$1,020
Memphis
Allstate avg. annual premium for $300K dwelling
$1,300
Nashville
Allstate avg. annual premium for $300K dwelling
$1,195
Best for ease of doing business
4.2
4.2
Rating: 4.2 stars out of 5 Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings. Bankrate Score
State Farm ReviewGet a personalized quote
Avg. premium for $300K dwelling
$163/mo
Avg. premium for $300K dwelling
$1,952/yr
Customer satisfaction
829/1,000
Why State Farm made our list:State Farm is known for its statewide network of exclusive local agents, but it also offers robust digital options, ranking fifth for service inJ.D. Power’s 2023 U.S. Insurance Digital Experience Study. The company also offers a handful of potential home insurance discounts, with savings for bundling a home and auto insurance policy, installing a home security system or fire alarm system and having an impact-resistant roof. However, State Farm has limited add-on coverage options, so it’s probably not the best provider if you want to customize your policy.
Who State Farm may be good for:If your primary consideration is the ease with which you can do business, you may find a good fit in State Farm since it offers plenty of in-person options, as well as a highly-ranked digital platform.
Pros
- Potential discounts available based on safety and upkeep of your home like a home security and fire alarm discount and a roof discount
- Superior financial strength rating from AM Best
Cons
- Limited add-on coverage options to tailor your policy
- Highest average rates on our list
As the largest writer of personal insurance policies in the U.S. by market share, State Farm offers a broad range of coverage types, including the following:
- Identity restoration:Provides up to $50,000 for legal costs, lost wages and other expenses caused by identity theft.
- Flood insurance:Offered as a separate policy underwritten by the National Flood Insurance Program, this insurance will pay for damage caused by flooding, which is not covered by a basic home policy.
- Earthquake insurance:Every state in the U.S. has experienced tremors at some point, and there is the potential for damage no matter where you live.
- Boat insurance:Covers your watercraft from common perils such as sinking, fire and theft.
Tennessee city State Farm avg. annual premium for $300K dwelling Chattanooga
State Farm avg. annual premium for $300K dwelling
$1,795
Clarksville
State Farm avg. annual premium for $300K dwelling
$1,841
Knoxville
State Farm avg. annual premium for $300K dwelling
$1,668
Memphis
State Farm avg. annual premium for $300K dwelling
$2,163
Nashville
State Farm avg. annual premium for $300K dwelling
$1,825
Best for discount opportunities
4.1
4.1
Rating: 4.1 stars out of 5 Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings. Bankrate Score
Travelers ReviewGet a personalized quote
Avg. premium for $300K dwelling
Not available
Avg. premium for $300K dwelling
Not available
Customer satisfaction
790/1,000
Why Travelers made our list:If you are looking for a home insurance company in Tennessee that offers excellent discount opportunities, Travelers may be worth considering. Travelers offers potential savings for having a LEED-certified home, equipping your house with security and fire protection devices, insuring a newly purchased home, bundling your policies and more. In addition, Travelers offers a variety of endorsem*nts for customized coverage. However, the company is rated lower than many other providers by J.D. Power for overall customer satisfaction.
Who Travelers may be good for:Although Travelers’ average rates are on the high side for Tennessee, homeowners who qualify for one or more of the several discounts the company offers might want to consider getting a quote.
Pros
- Numerous discount opportunities for savings on home insurance
- Optional coverage available for customized home insurance policies
Cons
- Ranked below average in J.D. Power’s 2023 Home Insurance Study
- Mobile app functionality for Android devices may not be as robust as its competitors based on Google Play ratings
Travelers offers a robust assortment of endorsem*nts to allow homeowners to customize their policies. A few of them, such as the green home endorsem*nt, are not common for Tennessee insurers.
- Contents replacement cost coverage:Pays the replacement value on property damaged in a covered loss with no deductible for depreciation.
- Additional replacement cost coverage:If the limit on your policy is too low to cover a total loss, this coverage kicks in.
- Valuable items plus:Provides higher limits and expanded protection for items such as jewelry.
- Water backup:Provides coverage if you have water backup in a sump pump or drain.
- Identity fraud coverage:Provides up to $25,000 to help cover costs to restore your identity.
- Green home coverage:Will help repair, replace or rebuild with green materials after a covered loss.
Tennessee city Travelers avg. annual premium for $300K dwelling Chattanooga
Travelers avg. annual premium for $300K dwelling
N/A
Clarksville
Travelers avg. annual premium for $300K dwelling
N/A
Knoxville
Travelers avg. annual premium for $300K dwelling
N/A
Memphis
Travelers avg. annual premium for $300K dwelling
N/A
Nashville
Travelers avg. annual premium for $300K dwelling
N/A
Additional Tennessee home insurance companies to consider
Erie
Who this may be best for
Homeowners looking for affordable rates
Erie review
Erie is a regional insurer that offers robust coverage for both vehicles and homes. It earned a place on Bankrate's list of cheapest homeowners insurance companies for its reasonable average rates and offers 24/7 customer service, so you can file a claim or manage your policy whenever it is convenient for you. Guaranteed replacement cost coverage is standard on its homeowner policies — not something you'll find with many insurers. The company also has some nice perks, such as $500 in coverage for animals, birds and fish.
Foremost Insurance
Who this may be best for
Homeowners looking for unusual policies
Foremost Insurance review
Foremost Insurance has all the usual coverage types you would expect from a home insurer, but its strength is in its endorsem*nts that are geared toward those with unusual situations or the need to customize their policies. They have several options for replacement cost coverage, for example, including actual cash value insurance, which has less allowance for depreciation or deterioration, and guaranteed rebuild, which will repair or rebuild your home even if the costs are greater than your policy limits.
Grange
Who this may be best for
Homeowners who wish to work with local agents
Grange review
Grange is another company, like Foremost, that is known for unusual policy endorsem*nts that provide added functionality and may be a good option if you want to customize your insurance coverage. Some of its add-ons include one for concealed water damage, a matching materials endorsem*nt that pays for full replacement of roofing or siding materials and an assisted living care add-on that offers protection for a loved one's personal belongings while they're in an assisted living facility. There are also several unusual discount options, including one if you complete an inspection using the company's do-it-yourself home inspection smartphone app.
How Bankrate chose the best home insurance companies in Tennessee
To find the best homeowners insurance companies, Bankrate analyzed average rate data from Quadrant Information Services for each Tennessee provider. We also looked at third-party scores from J.D. Power and financial strength ratings from AM Best. We used these factors to award each company a Bankrate Score with a maximum of five points.
Bankrate Scores are calculated based on criteria like affordability, third-party ratings, online/mobile tools and coverage options. If you are looking for the best Tennessee homeowners insurance companies, Bankrate Scores can be a valuable comparison tool to help you determine whether a company provides a well-rounded customer experience in multiple categories, rather than excelling in just one area.
Cheapest home insurance companies in Tennessee
The average home insurance cost in Tennessee is $2,370 annually for $300k of dwelling coverage. All of our chosen companies offer average rates that are below this. Your own rate will depend on circ*mstances unique to you, such as your age, credit rating and your home's location. Asking one or more of Bankrate's chosen companies for a quote may help you find the most affordable coverage for your home.
| Carrier | Monthly premium for $300k coverage | Annual premium for $300k coverage | Savings vs state avg. for $300k coverage |
|---|---|---|---|
USAA | $91 | $1,087 | - $1,283 |
Allstate | $114 | $1,364 | - $1,006 |
Erie | $137 | $1,646 | - $724 |
Auto-Owners | $159 | $1,905 | - $465 |
State Farm | $163 | $1,952 | - $418 |
Home insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.
Rates refreshed as of May 2024
Read our full methodology
How to get cheap Tennessee home insurance
No one wants to pay more than they need to for Tennessee homeowners insurance, so it pays to shop around. Cost, however, is only one of the factors you should consider. A cheap policy, for example, is less desirable if poor customer service might mean delayed claims payments or difficulties in managing your policy. It's important to do your homework and determine the company that has the best options for your needs.
Consider the following steps when shopping for cheap homeowners insurance in Tennessee:
- Assess your situation: How old is your house? Is your roof fairly new? Are you near a fire station? Take a realistic look at your home and property so you’re prepared to answer questions the insurer asks.
- Do some research: Take a look at the websites of companies that interest you. Is it easy to find information? Do they list discounts and coverage options? Is there an easy-to-use mobile app? Consider how you like to do business — online or in-person — and ensure that the company is well-suited to meet your needs. One tip that may be helpful: see how easy it is to find the answers to your questions online to get a sense of how the company works with its customers.
- Ask for quotes: Many insurers will give you an online quote just for answering a few questions on the website. Others require you to talk to an agent. It's a good idea to get several quotes so you can compare the prices, but be sure you're asking for the exact same coverage for each quote.
- Make your choice: Experts recommend basing your decision on the quotes, as well as any other factors that are important to you. If you have questions, ask an agent before you sign up for your policy. A response to your application may come in a few hours, or it may be several days before you are approved. In some cases — for example, if you've had multiple claims in the past — it may take longer. Pay your first month's premium and you should be all set.
Best home insurance discounts in Tennessee
A homeowner's greatest ally when it comes to finding the lowest premium is the list of potential discounts that almost all insurers offer. Many of them are easily earned and could shave a significant amount off your monthly costs. Here are a few of the more common Tennessee discounts.
By purchasing more than one policy from the same insurance provider, you may be able to earn a bundling or multi-policy discount. The most common types of insurance policies to bundle are auto and home.
Sometimes, you can earn a discount if you've just purchased your home, whether it's a new build or a hundred-year-old farmhouse.
Sign up for your policy online rather than through an agent and you could save at some insurance companies.
Installing safety features like smoke detectors, security alarms and safety locks can help protect your property, making it less likely for you to file a claim. Some insurance companies offer discounts for adding certain protective devices.
Since smoking increases the risk of fire, some insurers will offer a discount if no one in the home smokes.
How to save on home insurance policy renewals in Tennessee
Policyholders looking to save money on insurance may want to consider the following strategies.
- Improve your credit: Your credit history is one of the factors insurers take into consideration when determining your rates. Why? Because good credit implies you are able to pay bills on time, in full. A low credit rating may mean you struggle to pay your bills and may have difficulty making premium payments. Your home insurance premium may go down if you can significantly improve your credit.
- Increase your deductible: In general, a higher deductible means a lower premium payment. Be careful, however, that you don't increase your deductible to an amount that you'd have difficulty paying in the event that you need to file a claim.
- Be careful about claims: Insurers tend to increase premiums for homeowners who file multiple claims. If you have a smaller loss that you can afford to fix on your own, it may benefit you in the long term to do so, rather than filing a claim against your policy.
- Keep your roof in good repair: An aging or damaged roof can lead to a costly claim, which is why your insurer is likely to ask how old your roof is when you apply for coverage. If your roof is on the older side, replacing or repairing it could equate to lower rates.
How much is home insurance in Tennessee?
Tennessee homeowners insurance averages $2,370 annually for $300K in dwelling coverage, which is $197 above the national average of $2,153. Compared to its neighbors, though, Tennessee homeowners may pay less. Kentucky's average is $3,049, while Mississippi homeowners pay an average of $2,820.
Why the higher rates? Tennessee is in a part of the country that experiences heavy storms, which can cause flooding and wind-related damage to homes. In some of the more rural parts of the state, wildfires are a concern, while tornadoes have been known to hit the region, as well. Some parts of the state are also prone to severe and/or unpredictable winter weather.
Your exact homeowners insurance rate will vary based on multiple factors, including the amount of coverage you need, as illustrated in the chart below.
| Insurance company | $150K | $300K | $350K | $450K | $750K |
|---|---|---|---|---|---|
Allstate | $1,070 | $1,364 | $1,475 | $1,683 | $2,507 |
Travelers | N/A | N/A | N/A | N/A | N/A |
State Farm | $1,259 | $1,952 | $2,166 | $2,678 | $3,976 |
Auto-Owners | $1,395 | $1,905 | $2,093 | $2,493 | $3,752 |
Tennessee homeowners insurance rates by city
Even within a state, rates vary from place to place due to local factors like claim frequency, weather-related events, the prevalence of fire stations and more. Here are some of the cheapest and most expensive cities in the Volunteer State.
- Kingsport: $1,772 per year — 25 percent below state average
- Piney Flats: $1,792 per year — 24 percent below state average
- Blountville: $1,793 per year — 24 percent below state average
- Bluff City: $1,794 per year — 24 percent below state average
- Bristol: $1,795 per year — 24 percent below state average
- Memphis: $3,183 per year — 34 percent above state average
- Ridgely: $3,106 per year — 31 percent above state average
- Rutherford: $3,047 per year — 29 percent above state average
- Tiptonville: $3,042 per year — 28 percent above state average
- Cedar Grove: $3,030 per year — 28 percent above state average
*Rates are for $300,000 in dwelling coverage.
What does home insurance cover in Tennessee?
There are several types of home insurance policies, but standard policies typically cover your dwelling and other structures on your property, as well as your personal belongings. Should you face losses from a covered peril, homeowners insurance will kick in to help repair or replace your property, minus your deductible (if any). Homeowners insurance may also help cover another party’s damage or injury for which you are liable.
Additional home insurance coverage types in Tennessee
In addition to the standard coverage included in most home insurance policies, Tennessee homeowners might also want to be aware of the possible need to explore additional coverage like:
- Sinkhole insurance: A sinkhole can literally swallow up all or part of your property, and Tennessee is one of the most likely states to experience damage from sinkholes. Sinkholes are not covered in a standard policy, but a separate sinkhole insurance policy could protect your property if your area is at risk.
- Flood insurance: Flood insurance is another common insurance expense in Tennessee, although it does not come standard on policies. One great resource to check out is the Federal Emergency Management Agency (FEMA) Flood Map Service Center to see what the risk is near you. You can also purchase coverage through FEMA’s National Flood Insurance Plan (NFIP), although many private insurance companies also sell flood coverage.
- Wildfire insurance: Although Tennessee is not one of the top states for wildfires, they are becoming more common. In 2021, there were 550 wildfires reported in Tennessee, resulting in 4,937 acres burned.
Related content:
Guide to flood insurancePreviously Read
The best home and auto insurance bundlesPreviously Read
Home insurance claims statistics and factsPreviously Read
Common Tennessee home insurance problems
Rapidly increasing rates are only one of the challenges homeowners may have to deal with when it comes to finding the best Tennessee homeowners insurance. The insurance industry, like many other sectors, has seen a great deal of turmoil in the past decade for a variety of reasons, and these may impact you as a homeowner. Consider the following:
- Supply chain issues: Supply chains throughout the U.S. proved unexpectedly fragile during the pandemic, making it difficult and more expensive to source raw materials like lumber. This made rebuilding or repairing damaged property far more expensive than it had been previously.
- Climate change challenges: Few would argue that severe weather is becoming more common in the U.S. Violent storms and other natural phenomena often lead to an increased number of claims. Insurers may account for the rising cost of claims by passing on premium increases to their policyholders.
- Insurance availability: Because of the previous reasons and more, some insurers are reluctant to write policies in some parts of the country that are more prone to home and property damage. This is most commonly seen in coastal states like Florida and California but may impact inland states, as well.
- Claim history: Another reason it may be hard to find coverage is if you have had to file multiple claims in the past, even if they are justified. Insurers are becoming more selective in what they are willing to cover. So if you have an older house that needs occasional repairs, you may find that your insurer will be less likely to want to renew your policy.
New
Recent news in the Tennessee homeowners insurance market
The latest issues of Premium News, the newsletter of the Tennessee Department of Commerce and Insurance, shared the following information that may be of benefit to Tennessee homeowners:
- The Department recently produced a short informative video for homeowners on how to handle insurance issues related to winter weather in the state. It includes information on what you should do to prepare seasonal housing when you leave for the winter and covers what damage may or may not be covered by your policy.
- If your Tennessee home was impacted by tornadoes or severe storms in Spring 2023, you should know that 10 counties in the state qualify to receive federal aid from FEMA. Individuals who were impacted can apply for direct assistance online or by phone at 1-800-621-3362. This applies to residents of Cannon, Hardeman, Hardin, Haywood, Lewis, Macon, McNairy, Rutherford, Tipton and Wayne counties.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze May 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $150,000, $300,000, $350,000, $450,000, $750,000
- Coverage B, Other Structures: $15,000, $30,000, $35,000, $45,000, $75,000
- Coverage C, Personal Property: $75,000, $150,000, $175,000, $225,000, $375,000
- Coverage D, Loss of Use: $30,000, $60,000, $70,000, $90,000, $150,000
- Coverage E, Liability: $500,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply.
These are sample rates and should be used for comparative purposes only. Your quotes will differ.
Bankrate Scores
Our Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
5
Rating: 5 stars out of 5
Overall Score
Cost & ratings50%
Coverage & savings30%
Support20%
Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.
Mary Van Keuren has written for insurance domains such as Bankrate, Coverage.com, and The Simple Dollar for the past five years, specializing in home and auto insurance. She has also written extensively for consumer websites including Reviews.com and Slumber Yard. Prior to that, she worked as a writer in academia for several decades.
