Best homeowners insurance in Tennessee for 2022

We looked at average costs, coverage availability, and customer satisfaction ratings to find the best homeowners insurance companies in Tennessee.

Gianetta Palmer

By

Gianetta Palmer

Gianetta Palmer

Freelance contributor

Gianetta Palmer is a freelance writer who lives in the Georgia mountains. Her writing on health and car insurance, has appeared on numerous sites.

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This article has been reviewed by a licensed Policygenius expert to ensure that sources, statistics, and claims meet our standard for accurate and unbiased advice.

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By

Kristi Sullivan, CFP®

Kristi Sullivan, CFP®

Certified Financial Planner

Kristi Sullivan, CFP®, is a certified financial planner and a member of the Financial Review Council at Policygenius. Previously, she was a regional consultant at Fidelity Investments for nine years.

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Homeowners in the eastern parts of Tennessee have access to one of the most diverse ecological climate sites on the planet in Great Smoky Mountain National Park. But from Tennessee's tornado season in the spring and fall and heavy rainstorms in the summer months, the weather can also be unpredictable. 

The average cost of homeowners insurance in Tennessee is $2,526 per year or $211 a month. This is around 25% higher than the national average of $1,899. 

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However, the cost isn’t the only factor to consider when choosing a home insurance company. Not sure what to look for? Policygenius can help you figure out your coverage needs and compare quotes from multiple top companies in Tennessee.  

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UPDATE: Home insurance premiums up 10% in Tennessee

Home insurance premiums in Tennessee increased 10% from May 2021 to May 2022, according to our latest analysis of internal policyholder data. This is due to a mix of rising inflation, labor shortages, and severe natural disasters that have caused insurance companies to increase rates and establish stricter underwriting rules to offset the risks.

You can find all of the details in our Policygenius Home Insurance Pricing Report.

Best homeowners insurance companies in Tennessee

Of the companies we looked at, Allstate has the lowest home insurance rates in Tennessee with an average annual policy cost of $1,613 per year — over $900 less than the state average. USAA's average rate of $1,650 per year isn't far behind, making either company a great choice for Tennessee homeowners looking for affordable coverage.

Policygenius analyzed thousands of quotes from the 5 largest Tennessee insurers to find the average cost of homeowners insurance with each company in 2022. We then looked at 2021 J.D. Power customer satisfaction scores and compared that with the coverage needs of Tennessee residents to find the best homeowners insurance in Tennessee.

Company

Average yearly cost

J.D. Power Rating

State Farm

$2,766

835

Farm Bureau Insurance of Tennessee

$2,047

--

Allstate

$1,613

829

USAA

$1,650

882

Travelers

$7,522

800

State Farm

State Farm logo

There's a reason State Farm is one of the top-rated insurance companies in the U.S. — its customer satisfaction ratings are through the roof, it offers a slew of coverage add-ons for full protection, and makes filing claims through its mobile app a breeze.

Pros

  • Top-tier coverage add-ons, including equipment breakdown, water backup, and service line coverage

  • Get up to $1 million in personal liability coverage

  • Score discounts for bundling, installing security devices, and choosing a high deductible

  • File and track claims online, over the phone, in person, or through its mobile app

  • High customer satisfaction and financial strength ratings

Cons

  • No discounts for first-time homebuyers or going a year without a claim

Why State Farm tops our best list

State Farm scored an impressive customer satisfaction rating of 835 out of 1,000 with J.D. Power. This means State Farm excels when it comes to pricing, policy options, claims handling, and more.

With Tennessee weather consisting of severe spring weather and an extended dry season in the summer, claims for tornado damage and wildfires have been common across the state. State Farm’s easy-to-use claims system means customers can easily file and track claims online and through the mobile app.

How to get a quote

Online through State Farm

Tennessee Farm Bureau Insurance

Tennessee Farm Bureau Insurance logo

Tennessee Farm Bureau Insurance offers home, auto, life, and farm insurance — allowing you to keep all of your policies under one roof.

Pros

  • Offers a slew of insurance products on top of home insurance — including auto, life, and farm insurance — to keep all of your policies with one company

  • Solid customer service ratings

  • File claims online — with 24/7 claims support

Cons

  • Farm Bureau membership required for coverage

  • No information about specific coverages and discounts available online

Why Farm Bureau Insurance of Tennessee tops our best list

Common in southern states, Farm Bureau Insurance is a go-to for those looking to bundle their home, auto, or farm insurance with one company. A yearly membership fee is required before taking advantage of Farm Bureau Insurance of Tennessee’s great rates, but membership offers extra perks like discounted hotels and car rentals. 

How to get a quote

Call or speak to a local Farm Bureau Insurance of Tennessee agent

Allstate

Allstate logo

Allstate's mix of exceptional customer satisfaction ratings, personalized coverage options, and numerous discount opportunities make it one of the most popular homeowners insurance companies on the market.

Pros

  • Several coverage add-ons, including ones for roof surfaces, water backup, green improvements, and mold protection

  • 8+ discounts, including autopay, bundling, zero claims, and new homebuyer

  • Get up to 25% off your premiums when you bundle home and auto insurance

  • File and track claims online or through its mobile app

Cons

  • Lower-than-average claim satisfaction and digital experience ratings from J.D. Power

Why Allstate tops our best list

Allstate scored an 829 out of 1,000 in J.D. Power’s 2021 home insurance study, making it one of the top home insurance companies in Tennessee. Bundle your home and car insurance policies to earn a 25% discount with Allstate and choose from several personalized policy options for your home and budget needs.  

How to get a quote

Online through Policygenius and Allstate

USAA

USAA logo

USAA's robust coverages and high marks for customer service and claims satisfaction make it a solid home insurance option for military members and their families.

Pros

  • Score discounts for zero claims, being a loyal USAA member, opting into e-billing, and more

  • Base policy includes coverages that cost extra with most other companies

  • Offers earthquake coverage — which is hard to come by

  • Get discounted home security systems and a discount on premiums through its partnership with ADT

  • Industry-best customer service and claims satisfaction ratings

Cons

  • Only available to military families

  • Doesn’t offer extended or guaranteed replacement cost dwelling coverage

Why USAA tops our best list

USAA is the number choice for insurance for those in the military and their family members. We love the fact that customers can get discounts for being loyal members and having zero claims. Plus, USAA’s base policy includes coverages that cost extra with other companies. 

How to get a quote

Online or calling USAA

Travelers

Travelers logo

With over 165 years of experience and impeccable financial ratings, Travelers is one of the most trusted home insurance companies in the business. It offers personalized coverage and a slew of policy add-ons to ensure you have exactly the right protection.

Pros

  • 4 customizable policy packages with several available add-ons, like extended replacement cost and water backup coverage

  • Offers eco-friendly green home coverage and discounts

  • Protect expensive family heirlooms and appliances with equipment breakdown, guaranteed replacement cost, and personal articles coverage

  • File claims online — plus, Travelers has special catastrophe centers for claims after a natural disaster

Cons

  • Below-average customer service and claims satisfaction ratings

Why Travelers tops our best list

Travelers customers can select from four customizable policy packages while taking advantage of eco-friendly home coverage and discounts. With policy add-ons to protect your home and precious heirlooms, plus a track record of 165 years and counting of reliability, Travelers customers know they are protected if disaster strikes. Travelers customers can file claims online or by calling their local agent.

How to get a quote

Online through Policygenius and Travelers

Cheapest homeowners insurance companies by city in Tennessee

Looking at average home insurance costs for the 15 most popular insurers in Tennessee, we found that the cheapest homeowners insurance companies in the state are State Auto, Allstate, and Farm Bureau of Tennessee.

The average State Auto rate in Memphis is $1,264 per year — nearly $500 more than homeowners in Nashville, partly because Memphis has a higher crime rate. Meanwhile, the cheapest rate we found for Allstate was $956 in Maryville.

City

Company

Average yearly cost

Adams

State Auto

$954

Adamsville

State Auto

$1,324

Afton

State Auto

$964

Alamo

State Auto

$1,277

Alcoa

Allstate

$956

Alexandria

State Auto

$1,153

Allardt

State Auto

$965

Allons

State Auto

$978

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Shopping for homeowners insurance in Tennessee

Shopping for homeowners insurance in Tennessee shouldn’t be difficult. With the help of our home insurance experts, Policygenius makes the process both transparent and hassle-free. We can help you find a policy that works the best for your insurance and budget needs.

In this section, we break down the average annual home insurance rates in Tennessee for different coverage and deductible levels, those with a bad credit score, as well as the cheapest and most expensive home insurance companies for dog and pool owners.

Tennessee home insurance costs by coverage amounts

Dwelling coverage is the part of your home insurance policy that pays to rebuild or repair your home after a covered loss. Your dwelling coverage limit should be equal to your home’s replacement cost, or the amount it would take to rebuild it from the ground up — not its current market value or purchase price. 

As seen in the below table, more dwelling coverage means higher homeowners insurance rates. In Tennessee, the most significant rate jump occurs in the $400,000 to $500,000 range — a nearly $750 difference in premiums between the two coverage levels.

Dwelling coverage amount

Average yearly cost

$100,000

$1,249

$200,000

$1,897

$300,000

$2,526

$400,000

$3,186

$500,000

$3,906

Personal liability coverage is the portion of your home insurance policy that pays the medical, legal, or repair bills if someone is injured on your property and you’re found legally responsible.

Liability coverage amount

Average yearly cost

$100,000

$2,582

$200,000

$2,070

$300,000

$2,526

$400,000

$2,403

$500,000

$2,556

Tennessee home insurance costs by deductible amount

Your policy deductible is the amount you’ll have to pay your home insurance provider before your insurance will reimburse you for a claim. A higher deductible means lower monthly payments, but larger out-of-pocket expenses when you file a claim. 

As mentioned in the table below, Tennessee residents can save around $275 per year on home insurance by choosing a $2,000 deductible over the $500 option.

Deductible amount

Average yearly cost

$500

$2,793

$1,000

$2,526

$2,000

$2,511

Home insurance discounts in Tennessee

Many insurance companies offer discounts to homeowners if their homes have certain features like deadbolt locks or home security systems as a way to deter crime.

While there’s isn’t a large discount for these features, the extra security is worth it to keep your home protected. Here is the average annual rate and average discount percentage for homes in Tennessee with deadbolts, smoke alarms, or burglar alarms. 

Discount

Average yearly cost

Dead bolt

$2,526

Smoke alarm

$2,517

Burglar alarm

$2,491

Home insurance companies in Tennessee for dog owners

Pet owners in the Volunteer State may pay more for home insurance if they own certain dog breeds that insurance companies consider dangerous or aggressive. However, not all insurers weigh this factor as drastically, so its worth shopping around and comparing quotes if you own a pit bull, Rottweiler, or another dog breed that's causing your rates to skyrocket.

With an average rate of $1,613 per year, Allstate has the cheapest home insurance rates in Tennessee for a home with a dangerous dog breed, while Travelers' average yearly rate of over $7,500 is the highest.

Company

Average yearly cost

Allstate

$1,613

USAA

$1,650

Farm Bureau Insurance of Tennessee

$2,047

State Farm

$2,766

Travelers

$7,522

Home insurance companies in Tennessee for poor credit

A poor credit score is often an indicator of risky behavior to insurers, since it sometimes means financial instability and more frequent home insurance claims. As such, many providers charge much higher rates, as indicated by the average Travelers rate below. 

Company

Average yearly cost

Farm Bureau Insurance of Tennessee

$2,047

USAA

$2,739

Allstate

$2,788

State Farm

$4,752

Travelers

$18,913

Home insurance companies in Tennessee for pool owners

If you have a swimming pool in your backyard, some home insurance providers may charge you higher rates due to the increased probability of injuries and subsequent liability claims.

With an average rate of $1,649 per year, Allstate has the cheapest home insurance rates for Tennessee homes that have a swimming pool, while Travelers has the most expensive rates at $8,274 per year.

Company

Average yearly cost

Allstate

$1,649

USAA

$1,650

Farm Bureau Insurance of Tennessee

$2,047

State Farm

$2,766

Travelers

$8,274

How to buy homeowners insurance in Tennessee

Homeowners in Tennessee have many great options when it comes to home insurance. To help make the process easier, be sure to follow the five steps below.

  1. Reach out to a licensed Policygenius agent. Our team of licensed home insurance experts will help you find the right policy to suit your coverage needs, all while saving you time and money.

  2. Ask if you should purchase flood coverage. With Tennessee's unpredictable weather, homeowners in high-risk floodplains should talk to a Policygenius agent about purchasing flood insurance.

  3. Figure out how high of a deductible you can afford. A higher deductible means you’ll pay less upfront for home insurance, but it also means you'll pay more when it comes time to file a claim. A Policygenius agent can help you choose a deductible that works within your budget.

  4. Compare quotes from a Policygenius agent. Once you identify your coverage needs and input a few brief details about you and your house, a Policygenius agent will send over quotes from several top companies.

  5. Sign on the dotted line and pay your first premium. After you’ve settled on a home insurance policy that works for you, all you need to do is sign and pay your first premium. Policygenius will handle the rest.  

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Frequently asked questions

What is the average home insurance cost in Tennessee?

The average home insurance rate in Tennessee is $211 a month or $2,526 per year. That’s about $600 more per year than the national average.

How can I lower my home insurance cost in Tennessee?

The quickest way to lower the cost of your home insurance is by comparing quotes with Policygenius. Once you’ve reviewed your options, we can do all of the paperwork for you, and even cancel your old policy if it isn’t expired yet.

Is it mandatory to have home insurance in Tennessee?

It isn’t required to have home insurance in Tennessee, but definitely a smart move to protect your home and assets against catastrophic losses. While not legally required to have home insurance in Tennessee, many mortgage lenders require you to purchase home insurance before extending a home loan, to protect their investment.

Methodology

Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:

  • Dwelling: $300,000

  • Other structures: $30,000

  • Personal property: $150,000

  • Loss of use: $60,000

  • Liability: $300,000

  • Medical: $1,000

All rates based on the above coverage limits except where otherwise noted.

Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.

Author

Freelance contributor

Gianetta Palmer

Freelance contributor

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Gianetta Palmer is a freelance writer who lives in the Georgia mountains. Her writing on health and car insurance, has appeared on numerous sites.

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