Homeowners insurance in Tennessee

Homeowners insurance is a crucial form of financial protection for Tennessee homeowners. With homeowners insurance, your home is covered in the event it’s burglarized or damaged by bad weather or any of the common natural disasters in the Volunteer State, like hail storms, tornadoes, and wildfires.

Homeowners insurance also covers other dwellings on your property, additional living expenses, and legal expenses if you accidentally injure someone or damage their property and they decide to pursue a legal reward.

The statewide average cost of homeowners insurance in Tennessee is $1,669, slightly higher than the national average of $1,633, according to Policygenius quote data. But bear in mind that premiums for Tennessee residents will vary based on specific factors related to your home and policy. Your rates will be directly impacted by your home’s condition and style of build, its location, your credit and claims history, and your policy deductible amount. Rates will also be different from company to company for the same level of coverage, which is why it’s so important to compare policies from different companies — that’s where we come in.

To help simplify your shopping experience, Policygenius reviewed the five best homeowners insurance companies in Tennessee offered through our website. We also calculated the average rate for several companies offered through Policygenius, the cheapest and most expensive cities in Tennessee for home insurance, and the average cost for each level of coverage based on hundreds of submitted quotes.

The 5 best homeowners insurance companies in Tennessee

Before deciding on a homeowners insurance policy, it’s smart to do some research on the company that will be insuring your house and all of your assets. A great homeowners insurance company is financially stable, has a good track record when it comes to handling claims, and offers affordable coverage and flexible policy options.

Using that criteria, we determined the following five companies were the best homeowners insurance companies in Tennessee. Read about our methodology here.

Best company for a cheap quote: Stillwater

Stillwater provides the cheapest Tennessee home insurance quote of any Policygenius partnering carrier. The average quote with Stillwater is $1,334, which is more than $300 dollars cheaper than the statewide annual average of $1,669, according to Policygenius quote data. Tennessee residents looking for coverage at a relatively low cost should consider homeowners insurance with Stillwater.

Read our full review of Stillwater here

Best replacement cost policy: Safeco

Due to the risk of tornadoes, wildfires, and hailstorms in Tennessee, homeowners may want to consider maximizing coverage for their home, and a robust replacement cost policy is a smart way to do so. Safeco has four comprehensive tiers of coverage, and all include the option to add extended replacement cost, a policy add-on that increases your home’s coverage limits an additional 25% or 50% if rebuild costs exceed your dwelling coverage amount. Safeco’s “Premier Plan”, its highest level of coverage, includes guaranteed replacement cost, which pays for a rebuild of your home regardless of the price.

Read our full review of Safeco here

Best company for older or historic homes: Chubb

Older and historic homes tend to be more difficult and expensive to insure due to their high rebuild costs. If you own a historic or older home in Tennessee, you may want to consider insuring with a premier carrier like Chubb. Chubb’s homeowners policies are designed for high-value homes and their standard policies offer extended replacement cost coverage for your home, replacement cost coverage for personal property, and higher coverage limits than a typical carrier.

Read our full review of Chubb here

Best company for policy discounts: State Auto

If you’re a Tennessee resident looking to save money on your homeowners insurance premiums, State Auto may be your best bet. State Auto offers numerous discounts for everything from installing smart devices in your home to bundling your home and auto policy to fortifying your home with strong materials that can withstand Tennessee’s severe weather.

Read our full review of State Auto here

Best company for a fast quote: Hippo

If you're a Tennessee homeowner looking to get a quote quickly and easily, Hippo may be the right choice for you. Hippo promises a quote in 60 seconds, but depending on your home’s details it may be even faster. Many carriers require you to provide information about your home’s building materials and age when you apply for a quote, but with Hippo all you need to do is type in your address and you’ll almost instantly receive an estimate along with information about your home’s specs.

Read our full review of Hippo here

Average cost of homeowners insurance in Tennessee by company

When comparing insurance companies, Tennessee residents may find that rates differ greatly from company to company for the same level of coverage. Higher-priced policies may include coverage add-ons or have higher limits than other plans, or they may cost more simply because that insurer charges more for coverage in that particular location.

After reviewing hundreds of quotes submitted with Policygenius, we found that Stillwater is the cheapest insurance company in Tennessee with an average annual premium of $1,669 for $100,000–500,000 in coverage. MetLife has the most expensive coverage with an average annual premium of $2,451 for the same amount of coverage, according to Policygenius data.

Average cost of home insurance in Tennessee by coverage amount

The average cost of homeowners insurance in Tennessee will also differ considerably based on the amount of insurance you have for your home. Below are the average homeowners insurance quotes for five different levels of coverage, according to Policygenius quotes.

Average cost of home insurance in Tennessee by city

Insurance companies will also price policies differently based on where in Tennessee you live. We found that the city of Jackson has the highest rates in the state with an average annual premium of $2,401 for $100,000-500,000 in coverage. The city with the cheapest rates in the Volunteer State is Chattanooga, with an average annual premium of $960 for the same amount of coverage.

The cheapest cities for homeowners insurance in Tennessee

The most expensive cities for homeowners insurance in Tennessee

Guide to homeowners insurance in Tennessee

Common causes of home insurance loss in Tennessee

Most of Tennessee falls within Dixie Alley, an area stretching from East Texas to Georgia that is particularly susceptible to violent tornadoes from October through December. Tornadoes are the most expensive natural hazard in the Volunteer State, costing Tennesseans $48.2 million per year in annualized property losses. Hail storms are also an expensive problem for homeowners in Tennessee — as severe hailstorms have the power to tear through roofing and smash windows. Sinkholes are another common threat. In fact, sinkholes are so common in Tennessee that homeowners insurance companies are legally required to offer optional sinkhole coverage, according to the III.

Additionally, Tennessee homeowners should ensure their homes are well protected against potential wildfire damage. According to States at Risk, a project aimed at measuring the impact of climate change in all 50 states, 2.3 million people in Tennessee — or 37% of the state’s population — are living in areas at an elevated risk of wildfires.

While homeowners insurance covers tornadoes, hail, and wildfires, Tennessee homeowners should make sure they’re fully covered in the event of a large-scale disaster. That means adding additional dwelling coverage protection like extended replacement cost (increases your dwelling limit 25–50% if rebuild costs go up after a disaster) and guaranteed replacement cost (reimburses you for a full rebuild regardless of the cost).

Does homeowners insurance cover flooding in Tennessee?

Homeowners insurance does not cover flood damage in Tennessee or any of the other 49 states. Tennessee residents can supplement that gap in coverage by purchasing a flood insurance policy. Flood insurance can typically be provided through the same insurance company that insures your home.

Most flood policies are sold by private companies but administered by the federal government’s National Flood Insurance Program (NFIP). An NFIP flood policy can cover up to $250,00 for the structure of your home and up to $100,000 for personal belongings.

Tennessee Department of Commerce and Insurance

The Tennessee Department of Commerce and Insurance is a valuable resource for Tennessee homeowners purchasing coverage for the first time and those who are already insured. The department website has helpful information about what to prioritize when selecting your coverage, comparing rates, preparing your home for natural disasters, and filing complaints.

What if I can’t get homeowners insurance?

Homeowners insurance companies can cancel your insurance for a number of reasons — maybe you filed too many claims in a short period of time or maybe they determined your home was too risky to insure after a recent inspection.

Unlike other states, Tennessee doesn’t offer a Fair Access to Insurance Requirements Plan (FAIR Plan). If you’re in Tennessee and you’re unable to get homeowners insurance with a standard carrier, look into coverage with a surplus or excess lines insurer. Surplus carriers specialize in risks that are typically rejected by traditional insurance companies. Keep in mind surplus carriers are typically more expensive and the companies aren’t admitted with the state, meaning they aren’t subject to the same rules and regulations as traditional insurance companies. But surplus lines coverage is a solid option if you’re a Tennessee resident looking for last minute coverage.

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