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Best homeowners insurance in Tennessee for 2023

Based on Bankrate's research, USAA, Allstate, Travelers, State Farm and Auto-Owners might be good choices for Tennessee homeowners.

Updated Sep 01, 2023
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Quick Facts
Moneybag
$382/year
average savings through Bankrate
Two Thirds
2 out of 3 homes
are underinsured
Insurance Home
1 out of every 20
insured homes makes a claim each year
Circle Check
100% of homes
need insurance before getting a mortgage
Mortgage

Leaving so soon? Your custom quotes are just minutes away.

Compare the best homeowners insurance companies in Tennessee

Tennessee homeowners pay an average of $1,755 annually for home insurance with $250,000 dwelling coverage, or $146 a month. This is higher than the national average of $1,428. 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, Allstate, Travelers, State Farm and Auto-Owners 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 2022 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.

USAA
Rating: 3.7 stars out of 5
3.7
Bankrate Score
Info
AM Best
A++
J.D. Power score
884
/1,000
Average monthly premium
$103
Average annual premium
$1,237
Get a quote
Allstate
Rating: 3.5 stars out of 5
3.5
Bankrate Score
Info
AM Best
A+
J.D. Power score
815
/1,000
Average monthly premium
$87
Average annual premium
$1,045
Get a quote
Travelers
Rating: 3.3 stars out of 5
3.3
Bankrate Score
Info
AM Best
A++
J.D. Power score
794
/1,000
Average monthly premium
$163
Average annual premium
$1,955
Get a quote
State Farm
Rating: 3.2 stars out of 5
3.2
Bankrate Score
Info
AM Best
A++
J.D. Power score
829
/1,000
Average monthly premium
$172
Average annual premium
$2,065
Read review
Auto-Owners
Rating: 3.2 stars out of 5
3.2
Bankrate Score
Info
AM Best
A++
J.D. Power score
825
/1,000
Average monthly premium
$105
Average annual premium
$1,261
Get a quote
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This advertisement 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 advertisement 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 advertisement. All offers are subject to additional terms and conditions.

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.

*USAA not officially ranked by J.D. Power due to eligibility restrictions

The top 5 home insurance companies in Tennessee

USAA

Best for military-specific coverage

Rating: 3.7 stars out of 5
3.7 Bankrate Score
JD Power: 884/1,000 AM Best: A++

Average annual premium

$ 1,237 for $250k dwelling coverage
USAA Review Get a personalized quote

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 2022 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.

Allstate

Best for low average rates

Rating: 3.5 stars out of 5
3.5 Bankrate Score
JD Power: 815/1,000 AM Best: A+

Average annual premium

$ 1,045 for $250k dwelling coverage
Allstate Review Get a personalized quote

Why Allstate made our list: Allstate stands out for its competitive average home insurance rates in Tennessee. In addition, Allstate has robust coverage options, like yard and garden, electronic data recovery and sports equipment coverage, along with extras like Claim Rateguard that help to keep your cost 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 and 2023 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.

Travelers

Best for discount opportunities

Rating: 3.3 stars out of 5
3.3 Bankrate Score
JD Power: 794/1,000 AM Best: A++

Average annual premium

$ 1,955 for $250k dwelling coverage
Travelers Review Get a personalized quote

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 endorsements 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.

State Farm

Best for ease of doing business

Rating: 3.2 stars out of 5
3.2 Bankrate Score
JD Power: 829/1,000 AM Best: A++

Average annual premium

$ 2,065 for $250k dwelling coverage
State Farm Review Get a personalized quote

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 fourth for service in J.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.

Auto-Owners

Best for optional coverages

Rating: 3.2 stars out of 5
3.2 Bankrate Score
JD Power: 825/1,000 AM Best: A++

Average annual premium

$ 1,261 for $250k dwelling coverage
Auto-Owners Review Get a personalized quote

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 coverages, 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 is an additional step some may not prefer to take.

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 endorsements, or add-ons, allows you to personalize your policy in multiple ways.

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.

Clock Wait
46
years of industry expertise
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122
carriers reviewed
Location
20.7K
ZIP codes examined
Dollar Coin
1.2M
quotes analyzed

How much is home insurance in Tennessee?

Tennessee homeowners insurance averages $1,755 annually for $250K in dwelling coverage, which is $327 above the national average of $1,428. Compared to its neighbors, though, Tennessee homeowners may pay less. Kentucky's average is $2,009, while Mississippi homeowners pay an average of $1,900. 

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.

Average annual premium by dwelling coverage level in Tennessee

$150K
$887
$250K
$1,237
$350K
$1,556
$450K
$1,864
$750K
$2,745
$150K
$882
$250K
$1,045
$350K
$1,236
$450K
$1,430
$750K
$2,168
$150K
$1,419
$250K
$1,955
$350K
$2,648
$450K
$3,202
$750K
$4,661
$150K
$1,462
$250K
$2,065
$350K
$2,520
$450K
$3,117
$750K
$4,863
$150K
$1,012
$250K
$1,261
$350K
$1,531
$450K
$1,829
$750K
$3,124
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This advertisement 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 advertisement 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 advertisement. All offers are subject to additional terms and conditions.

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.

One of the factors that determines your home insurance premium is where in the state you are located. If your home is located in a low-crime neighborhood, for example, you are likely to pay less than a home in a neighborhood that sees frequent thefts or other crimes. Below is a list of the five cheapest cities for Tennessee home insurance, with average rates for $250K in dwelling coverage coming in below the state average by 10 percent.

  • Rutledge: $1,575 
  • Chattanooga: $1,576 
  • College Grove: $1,578
  • Newcomb: $1,580
  • Kingston: $1,581

Some Tennessee cities have average rates well above the state's average. This is likely due to several factors — again, local crime rates and the likelihood of natural disasters play a role. Keep in mind that insurers are in the business of risk. The more likely it is that you will file a claim, the more they will have to charge you for your policy. As far as insurance companies are concerned, the best policyholders are the ones who never or rarely make a claim against their policy. These five cities are the most expensive for $250K in dwelling coverage in Tennessee, and each has average annual rates 15 percent higher than the state average.

  • Brownsville: $2,020
  • Lavinia: $2,020
  • Bethel Springs: $2,019
  • Halls: $2,019
  • Milledgeville: $2,018

How to find the best cheap home insurance in Tennessee

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:

  1. 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.
  2. 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.
  3. 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.
  4. 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.

Common 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.

Advertising Disclosure
This advertisement 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 advertisement 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 advertisement. All offers are subject to additional terms and conditions.
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Quick Facts
Moneybag
$382/year
average savings through Bankrate
Two Thirds
2 out of 3 homes
are underinsured
Insurance Home
1 out of every 20
insured homes makes a claim each year
Circle Check
100% of homes
need insurance before getting a mortgage
Mortgage

Leaving so soon? Your custom quotes are just minutes away.

Home insurance coverage options 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.

Frequently asked questions

Written by
Mary Van Keuren
Contributor, Insurance

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.

Edited by Editor, Insurance
Reviewed by Director of corporate communications, Insurance Information Institute