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Best homeowners insurance in Tennessee for 2024

USAA, Allstate, Travelers, State Farm and Auto-Owners are writing some of the best homeowners insurance in Tennessee.

Updated Feb 13, 2024
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Compare the best homeowners insurance companies in Tennessee

Tennessee homeowners pay an average of $2,176 annually for home insurance with $250,000 dwelling coverage, or $181 a month. This is higher than the national average of $1,759. 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
881
/1,000
N/A
N/A
Get a quote
834
/1,000
$146
$1,749
Get a quote
809
/1,000
$106
$1,277
Get a quote
829
/1,000
$154
$1,848
Read review
790
/1,000
$187
$2,245
Get a quote
*Premiums are for $250K in dwelling coverage **USAA not officially ranked by J.D. Power due to eligibility restrictions
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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.

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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
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The top 5 home insurance companies in Tennessee

Best for military-focused coverage

4.7

Rating: 4.7 stars out of 5

Avg. premium for $250K dwelling

Not available

Avg. premium for $250K dwelling

Not available

Customer satisfaction

881/1,000

Best for optional coverages

4.6

Rating: 4.6 stars out of 5

Avg. premium for $250K dwelling

$146/mo

Avg. premium for $250K dwelling

$1,749/yr

Customer satisfaction

834/1,000

Best for low average rates

4.2

Rating: 4.2 stars out of 5

Avg. premium for $250K dwelling

$106/mo

Avg. premium for $250K dwelling

$1,277/yr

Customer satisfaction

809/1,000

Best for ease of doing business

4.2

Rating: 4.2 stars out of 5

Avg. premium for $250K dwelling

$154/mo

Avg. premium for $250K dwelling

$1,848/yr

Customer satisfaction

829/1,000

Best for discount opportunities

4.1

Rating: 4.1 stars out of 5

Avg. premium for $250K dwelling

$187/mo

Avg. premium for $250K dwelling

$2,245/yr

Customer satisfaction

790/1,000

Additional Tennessee home insurance companies to consider

Erie

Erie

Who this may be best for

Homeowners looking for affordable rates

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

Foremost Insurance

Who this may be best for

Homeowners looking for unusual policies

Foremost Insurance has all the usual coverage types you would expect from a home insurer, but its strength is in its endorsements 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

Grange

Who this may be best for

Homeowners who wish to work with local agents

Grange is another company, like Foremost, that is known for unusual policy endorsements 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 endorsement 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.

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Finding cheap home insurance in Tennessee

It's not hard to find good homeowners insurance in Tennessee, but you'll get the best rates by shopping around and looking for carriers that offer discounts to help lower your costs. Bankrate's research can help you keep your Tennessee home insurance premiums affordable while making sure you get the coverage that's right for you. Back to top Caret Up

Cheapest home insurance companies in Tennessee

The average home insurance cost in Tennessee is $2,176 annually for $250k of dwelling coverage. All of our chosen companies offer average rates that are below this. Your own rate will depend on circumstances 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 $250k coverage Annual premium for $250k coverage Savings vs state avg. for $250k coverage
$106
$1,277
- $899
$123
$1,478
- $698
$146
$1,749
- $427
Tennessee Farmers Mutual
$151
$1,810
- $366
$154
$1,848
- $328
*based on $250K dwelling coverage

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:

  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.

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.
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Understanding home insurance costs in Tennessee

The majority of claims filed by Tennesseans are related to wind and hail damage, followed by fire, water and mold damage. At the same time, climate change may be contributing to more frequent and intense weather events that could amount to a higher frequency of claims today and in the future. Because of this, residents of Tennessee may already be seeing their home insurance premiums increasing. Back to top Caret Up

How much is home insurance in Tennessee?

Tennessee homeowners insurance averages $2,176 annually for $250K in dwelling coverage, which is $181 above the national average of $1,759. Compared to its neighbors, though, Tennessee homeowners may pay less. Kentucky's average is $2,282, while Mississippi homeowners pay an average of $2,028.

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 $250K $350K $450K $750K
$1,078
$1,277
$1,500
$1,718
$2,592
$1,627
$2,245
$3,043
$3,673
$5,317
$1,310
$1,848
$2,257
$2,792
$4,153
$1,408
$1,749
$2,113
$2,515
$3,804

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.

  • Rutledge: $1,925 per year — 12 percent below state average
  • Tellico Plains: $1,934 per year — 11 percent below state average
  • Kingston: $1,942 per year — 11 percent below state average
  • Newcomb: $1,942 per year — 11 percent below state average
  • Lake City: $1,946 per year — 11 percent below state average
  • Arlington: $2,553 per year — 17 percent above state average
  • Lenox: $2,552 per year — 17 percent above state average
  • Halls: $2,545 per year — 17 percent above state average
  • Westport: $2,543 per year — 17 percent above state average
  • Brownsville: $2,541 per year — 17 percent above state average

*Rates are for $250,000 in dwelling coverage.

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Insuring your Tennessee home

Severe weather is impacting the insurance market across the country, including in Tennessee. Protecting your home from natural disasters can help keep your rates reasonable. Reviewing your insurer's coverage options may be a good idea to see if the added functionality of endorsements would provide more robust protection for your home and property. Back to top Caret Up

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:

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.

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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