Finding the Best Homeowners Insurance in Tennessee
The state of Tennessee, known for tornadoes raptures, is located in a Dixie Alley, as meteorologist will suggest. This location has made it very susceptible to tornadoes. Also, being situated in two seismic zones, it is very prone to an earthquake and the New Madrid and East Tennessee seismic fault lines, which are sources of earthquakes in the US. Staying true to these climatic realities, living in Volunteer State requires coverage for such natural disasters as tornadoes, earthquakes, floods, fires and, hail storms. Consequently, the struggle to find the premium and cheapest insurers are imperative for homeowners searching for coverage. In finding the best homeowners insurance in Tennessee, the following considerations are helpful: simplicity in reaching an agent to handle claims, prompt response in handling the claim, ease of the claims process, and timely payment. After proper consideration and assessment, you can make informed choices as to which insurer to use. Based on factors such as coverage policies, discount opportunities, and market share, some of the best homeowners insurance company in Tennessee are Auto-Owners Insurance, Erie Insurance, Shelter, Foremost, Allstate, Tennessee Farmers Mutual, Traveler, and State Farm. Notwithstanding the disasters in recent years and the current COVID-19 pandemic, the status of real estate in Tennessee is burgeoning.
| Tennessee Homeowners Insurance Cost Broken Down | Rates |
|---|---|
| Yearly Cost of Homeowners Insurance in Tennessee | $1,446.00 |
| Costs Per Month for Homeowners Insurance in Tennessee | $120.50 |
How Much is Homeowners Insurance in Tennessee
The average cost of home insurance in Tennessee is $1,196, making it the 21st most expensive state for homeowners insurance. This is marginally lower than the national average, currently around $1,211 for the coverage level of $300,000 for dwelling coverage, $1,000 for deductible, and $300,000 for liability. Many factors influence the price you pay for insurance in Tennessee. Among others, the following are contributive: location, your home's square footage, size and age of your home, your deductible, the value of your property, the building costs in your area, and your own home's construction materials and features, the local crime rates, and the likelihood of certain types of disasters. When considering the state's cost distribution, the cheapest cities for homeowners insurance in Tennessee are Johnson City, Kingsport and Blountville. In contrast, the most expensive cities are Memphis, Tiptonville and Selmer.
| City in Tennessee | Monthly Costs | Yearly Costs |
|---|---|---|
| Arlington, TN | $111.00 | $1,332.00 |
| Athens, TN | $100.25 | $1,203.00 |
| Bartlett, TN | $107.17 | $1,286.00 |
| Brentwood, TN | $86.75 | $1,041.00 |
| Bristol, TN | $77.33 | $928.00 |
| Brownsville, TN | $120.08 | $1,441.00 |
| Chattanooga, TN | $89.50 | $1,074.00 |
| Clarksville, TN | $95.00 | $1,140.00 |
| Cleveland, TN | $89.92 | $1,079.00 |
| Collierville, TN | $112.58 | $1,351.00 |
| Columbia, TN | $99.25 | $1,191.00 |
| Cookeville, TN | $92.92 | $1,115.00 |
| Crossville, TN | $102.17 | $1,226.00 |
| Dickson, TN | $96.08 | $1,153.00 |
| Dyersburg, TN | $122.25 | $1,467.00 |
| East Ridge, TN | $88.33 | $1,060.00 |
| Elizabethton, TN | $79.08 | $949.00 |
| Farragut, TN | $81.08 | $973.00 |
| Franklin, TN | $89.50 | $1,074.00 |
| Gallatin, TN | $94.42 | $1,133.00 |
| Germantown, TN | $109.33 | $1,312.00 |
| Goodlettsville, TN | $97.33 | $1,168.00 |
| Greeneville, TN | $85.67 | $1,028.00 |
| Hendersonville, TN | $91.67 | $1,100.00 |
| Jackson, TN | $115.17 | $1,382.00 |
| Johnson City, TN | $78.67 | $944.00 |
| Kingsport, TN | $77.75 | $933.00 |
| Knoxville, TN | $83.92 | $1,007.00 |
| La Vergne, TN | $104.33 | $1,252.00 |
| Lakeland, TN | $110.50 | $1,326.00 |
| Lawrenceburg, TN | $116.00 | $1,392.00 |
| Lebanon, TN | $99.67 | $1,196.00 |
| Lewisburg, TN | $106.17 | $1,274.00 |
| Manchester, TN | $108.50 | $1,302.00 |
| Martin, TN | $115.67 | $1,388.00 |
| Maryville, TN | $84.33 | $1,012.00 |
| McMinnville, TN | $113.42 | $1,361.00 |
| Memphis, TN | $113.08 | $1,357.00 |
| Millington, TN | $111.33 | $1,336.00 |
| Morristown, TN | $82.67 | $992.00 |
| Mount Juliet, TN | $97.33 | $1,168.00 |
| Murfreesboro, TN | $107.83 | $1,294.00 |
| Nashville, TN | $94.42 | $1,133.00 |
| Oak Ridge, TN | $86.58 | $1,039.00 |
| Paris, TN | $114.50 | $1,374.00 |
| Portland, TN | $104.50 | $1,254.00 |
| Red Bank, TN | $87.25 | $1,047.00 |
| Sevierville, TN | $86.33 | $1,036.00 |
| Shelbyville, TN | $106.17 | $1,274.00 |
| Smyrna, TN | $102.33 | $1,228.00 |
| Soddy-Daisy, TN | $88.83 | $1,066.00 |
| Spring Hill, TN | $93.42 | $1,121.00 |
| Springfield, TN | $98.00 | $1,176.00 |
| Tullahoma, TN | $108.17 | $1,298.00 |
| Union City, TN | $118.42 | $1,421.00 |
| White House, TN | $96.92 | $1,163.00 |
Tennessee Homeowners Insurance Laws
Tennessee law requires that within a reasonable time after you have filed for a loss with your insurance company, they must promptly acknowledge, examine and payout all covered claims moderately or deny your claim as the case may be. Also, specific rules on how a Tennessee homeowner insurance company can revoke your policy in the state. Few instances that can warrant this include: deliberate alterations to your house to make it unsafe, failure to pay premiums, involvement in insurance fraud, and criminal conviction. In these cases, an insurer, after providing adequate notice and a legal reason for their action, may out rightly cancel or refuse your policy renewal. In the Volunteer State, private adjusters are not licensed; this feature is a peculiar Tennessee homeowners insurance requirement. The benefit of using a public adjuster is that their fees are capped at 15% of the loss amount for residential losses. Another insurance laws Tennessee homeowners should be aware of is the state law passed in 2014 that requires home insurers in Tennessee to offer sinkholes coverage. According to Tennessee Code 56-7-130(b), this stipulates that providers are required to provide coverage for sinkhole losses. This doesn’t state that sinkhole loss coverage is included in every policy; however, it is expected that insurance providers have to make the coverage available.
What Does Homeowners Insurance Cover in Tennessee
When choosing an insurance cover from your insurer, you’d like to ask, “What is covered by homeowners insurance?” The homeowner's policy contains two sections. Section I provides property coverages (A, B, C and D), while Section II provides liability coverages (E and F). A brief description of the individual coverages follows Coverage A — Dwelling (house and attached structures), Coverage B — Other Structures (other structures on the residence premises that are not attached to the dwelling), Coverage C — Personal Property (the contents of your home and other personal belongings owned by you and other family members who live with you), Coverage D — Loss of Use (additional living expenses incurred if your home is damaged), Coverage E — Personal Liability (the event you or a resident of your household are legally responsible for injury to others), Coverage F — Medical Payments to Others (pays for reasonable medical expenses for persons accidentally injured on your property). Some mortgage lenders require borrowers' homeowner's insurance to be enough to cover the replacement cost of their dwellings. However, the minimum homeowner's insurance coverage mortgage lenders require borrowers to possess unpaid mortgage balance amount. Other home insurance add-ons that will further protect you include flood insurance and coverages for earthquake, tornado and sinkhole.
| Costs of Home Insurance in Tennessee by County | Monthly Average Costs | Yearly Average Costs |
|---|---|---|
| Anderson County, TN | $92.17 | $1,106.00 |
| Bedford County, TN | $107.33 | $1,288.00 |
| Benton County, TN | $121.17 | $1,454.00 |
| Bledsoe County, TN | $105.83 | $1,270.00 |
| Blount County, TN | $86.08 | $1,033.00 |
| Bradley County, TN | $90.75 | $1,089.00 |
| Campbell County, TN | $98.08 | $1,177.00 |
| Cannon County, TN | $114.33 | $1,372.00 |
| Carroll County, TN | $120.08 | $1,441.00 |
| Carter County, TN | $84.08 | $1,009.00 |
| Cheatham County, TN | $97.75 | $1,173.00 |
| Chester County, TN | $122.67 | $1,472.00 |
| Claiborne County, TN | $95.33 | $1,144.00 |
| Clay County, TN | $107.83 | $1,294.00 |
| Cocke County, TN | $96.42 | $1,157.00 |
| Coffee County, TN | $110.08 | $1,321.00 |
| Crockett County, TN | $125.08 | $1,501.00 |
| Cumberland County, TN | $102.42 | $1,229.00 |
| Davidson County, TN | $93.17 | $1,118.00 |
| Decatur County, TN | $121.00 | $1,452.00 |
| DeKalb County, TN | $105.08 | $1,261.00 |
| Dickson County, TN | $97.00 | $1,164.00 |
| Dyer County, TN | $124.67 | $1,496.00 |
| Fayette County, TN | $114.17 | $1,370.00 |
| Fentress County, TN | $113.50 | $1,362.00 |
| Franklin County, TN | $109.42 | $1,313.00 |
| Gibson County, TN | $124.58 | $1,495.00 |
| Giles County, TN | $111.08 | $1,333.00 |
| Grainger County, TN | $94.58 | $1,135.00 |
| Greene County, TN | $88.58 | $1,063.00 |
| Grundy County, TN | $111.75 | $1,341.00 |
| Hamblen County, TN | $87.25 | $1,047.00 |
| Hamilton County, TN | $90.08 | $1,081.00 |
| Hancock County, TN | $91.17 | $1,094.00 |
| Hardeman County, TN | $119.58 | $1,435.00 |
| Hardin County, TN | $121.42 | $1,457.00 |
| Hawkins County, TN | $85.33 | $1,024.00 |
| Haywood County, TN | $122.50 | $1,470.00 |
| Henderson County, TN | $124.50 | $1,494.00 |
| Henry County, TN | $118.25 | $1,419.00 |
| Hickman County, TN | $106.67 | $1,280.00 |
| Houston County, TN | $101.00 | $1,212.00 |
| Humphreys County, TN | $106.17 | $1,274.00 |
| Jackson County, TN | $103.08 | $1,237.00 |
| Jefferson County, TN | $91.83 | $1,102.00 |
| Johnson County, TN | $87.58 | $1,051.00 |
| Knox County, TN | $85.33 | $1,024.00 |
| Lake County, TN | $127.83 | $1,534.00 |
| Lauderdale County, TN | $123.17 | $1,478.00 |
| Lawrence County, TN | $118.33 | $1,420.00 |
| Lewis County, TN | $120.58 | $1,447.00 |
| Lincoln County, TN | $108.33 | $1,300.00 |
| Loudon County, TN | $87.50 | $1,050.00 |
| Macon County, TN | $112.42 | $1,349.00 |
| Madison County, TN | $120.50 | $1,446.00 |
| Marion County, TN | $103.25 | $1,239.00 |
| Marshall County, TN | $106.33 | $1,276.00 |
| Maury County, TN | $101.83 | $1,222.00 |
| McMinn County, TN | $103.58 | $1,243.00 |
| McNairy County, TN | $118.33 | $1,420.00 |
| Meigs County, TN | $102.83 | $1,234.00 |
| Monroe County, TN | $101.42 | $1,217.00 |
| Montgomery County, TN | $93.17 | $1,118.00 |
| Lynchburg County, TN | $108.00 | $1,296.00 |
| Morgan County, TN | $106.17 | $1,274.00 |
| Obion County, TN | $123.75 | $1,485.00 |
| Overton County, TN | $99.17 | $1,190.00 |
| Perry County, TN | $113.17 | $1,358.00 |
| Pickett County, TN | $106.33 | $1,276.00 |
| Polk County, TN | $99.58 | $1,195.00 |
| Putnam County, TN | $94.08 | $1,129.00 |
| Rhea County, TN | $103.00 | $1,236.00 |
| Roane County, TN | $94.75 | $1,137.00 |
| Robertson County, TN | $98.42 | $1,181.00 |
| Rutherford County, TN | $108.92 | $1,307.00 |
| Scott County, TN | $113.17 | $1,358.00 |
| Sequatchie County, TN | $103.67 | $1,244.00 |
| Sevier County, TN | $87.67 | $1,052.00 |
| Shelby County, TN | $110.25 | $1,323.00 |
| Smith County, TN | $108.25 | $1,299.00 |
| Stewart County, TN | $103.25 | $1,239.00 |
| Sullivan County, TN | $81.92 | $983.00 |
| Sumner County, TN | $99.67 | $1,196.00 |
| Tipton County, TN | $110.83 | $1,330.00 |
| Trousdale County, TN | $111.25 | $1,335.00 |
| Unicoi County, TN | $84.67 | $1,016.00 |
| Union County, TN | $93.58 | $1,123.00 |
| Van Buren County, TN | $110.33 | $1,324.00 |
| Warren County, TN | $111.33 | $1,336.00 |
| Washington County, TN | $83.00 | $996.00 |
| Wayne County, TN | $119.92 | $1,439.00 |
| Weakley County, TN | $118.67 | $1,424.00 |
| White County, TN | $102.58 | $1,231.00 |
| Williamson County, TN | $92.25 | $1,107.00 |
| Wilson County, TN | #VALUE! | 1,,182 |
Top Rated Homeowners Insurance Companies in Tennessee Based on Ratings
Some of the top-rated homeowner's insurance company in Tennessee include Tennessee Farmers Mutual, State Farm, Travelers, USAA, Foremost Insurance and Allstate. They are considered the best homeowners insurance companies in Tennessee due to the premium rates, enjoyable discount and available coverage options. Other factors that contribute to their rating are availability, ability to pay out claims, and the number of available resources to their customers. Additionally, customer service ratings, financial strength analyses, and affordability give credence to their high rating. According to research, there are many highly regarded insurers. For the best customer service, State Farm is the top-rated. Liberty mutual, for their robust and user-friendly mobile app. The most highly rated by current and retired military personnel and their families is USAA, while Allstate has the best comprehensive option. Ranking as the cheapest homeowners insurance companies in Tennessee are Erie Insurance, Allstate and USAA. In contrast, the most expensive companies are Celina Mutual Insurance, State Farm and Tennessee Farmers Mutual Insurance Company. We used general profiles to get our average annual premiums.
How to Lower Homeowners Insurance in Tennessee
The price you pay for your homeowner's insurance can differ by hundreds of dollars, depending on the insurance company you buy your policy from. However, to enjoy Tennessee homeowners insurance discounts, you can: shop around, raise your deductible, fix your plumbing, roof, or wiring, buy your home and auto policies from the same insurer, make your home more disaster-resistant, improve your home security, review the limits in your policy and the value of your possessions at least once a year, look for private insurance if you are in a government plan, and then be on the lookout for other discounts. As outlined, many of these factors are in your control; hence effectively adopting them will immensely increase your discount profile and lower your homeowner insurance cost in the Volunteer State. In 2020, there's an anticipated decrease in Tennessee homeowners insurance rates. According to rate filings from the past five years, 31 states have seen home insurance rates outpace the cumulative rate of inflation (9.14%). One of the states with the least increase in rate filings for 2020 include Tennessee; however, it is expected that the COVID-19 may not affect this trend in 2021.
Compare Homeowners Insurance in Tennessee Before Buying
It is important to note that one of the best ways to save is to compare home insurance quotes among a few insurance companies. Therefore, while shopping for an affordable rate, naturally, you’ll want the best price — but you also want the right mix of coverage from a company that can afford to pay your claim if disaster strikes. Here are some factors to be considered as you choose the best insurance for your home. First, decide how much cover you need, your deductible amount, and any need for extra insurance for valuable items. After making all necessary decisions, go ahead and compare home insurance quotes from at least three companies to ensure you’re getting the cheapest policy you can. To evaluate customer satisfaction and complaints, you can look at studies on home insurance and property claims satisfaction from J.D. Power or Consumer Reports, which surveys thousands of homeowners annually since you’ll want to buy homeowners insurance from a stable company with enough money to pay claims. Financial strength is one way to evaluate whether an insurer meets that standard. Finally, you must avoid putting just the minimum coverage on your home. You can always contact your agent or carrier to be sure you have the right amount of coverage.