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Best homeowners insurance in Tennessee for 2024

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.

Mariah Posey is an auto, home and life insurance editor and writer for Bankrate.com. She aims to make the insurance journey as convenient as possible by simplifying industry lingo and implementing thoughtful content design to provide readers clear answers to their questions.

Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance.

Mariah Posey is an auto, home and life insurance editor and writer for Bankrate.com. She aims to make the insurance journey as convenient as possible by simplifying industry lingo and implementing thoughtful content design to provide readers clear answers to their questions.

Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance.

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

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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.

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At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict  editorial integrity, this post may contain references to products from our partners. Here’s an explanation of  how we make money. Our content is backed by Coverage.com  LLC, a licensed entity (NPN: 19966249). For more information, please see our  Insurance Disclosure.

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Bankrate's insurance editorial team, which includes licensed agents, dove deep when looking into the companies writing homeowners insurance policies in Tennessee to identify those offering the best value. Our intent is to help homeowners make the best choice for their property. Tennesseans pay an average of $2,395 annually for $300,000 worth of dwelling coverage — but your own rate is likely to be different.

When researching insurers, we focused on the needs of consumers. We looked at multiple factors, including average cost, third-party customer service rankings, financial strength ratings and more. Based on our analysis, these companies offer the best homeowners insurance in Tennessee:

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.

This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. 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.

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Compare the best homeowners insurance companies in Tennessee

Tennessee homeowners pay an average of $2,395 annually for home insurance with $300,000 dwelling coverage, or $200 a month. This is higher than the national average of $2,153. 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.

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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.

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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.

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The top 5 home insurance companies in Tennessee

Best for military-focused coverage

4.7

4.7

Avg. premium for $300K dwelling

$91/mo

Avg. premium for $300K dwelling

$1,087/yr

Customer satisfaction

881/1,000

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 2023 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.

CheckmarkPros

Close XCons

USAA offers some types of insurance, such as replacement cost coverage, standard with its policies, unlike many other carriers. It does have some optional endorsements, however, including the following:

Best for optional coverages

4.6

4.6

Avg. premium for $300K dwelling

$159/mo

Avg. premium for $300K dwelling

$1,905/yr

Customer satisfaction

834/1,000

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 coverage types, 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 may be convenient for homeowners who are used to shopping for coverage online.

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.

CheckmarkPros

Close XCons

Auto-Owners is one of our top choices for add-ons and may be a good option for those who wish to customize their policy to suit their circumstances. Here are a few of their available endorsements:

Best for low average rates

4.2

4.2

Avg. premium for $300K dwelling

$114/mo

Avg. premium for $300K dwelling

$1,365/yr

Customer satisfaction

809/1,000

Why Allstate made our list: Allstate stands out as one of the best cheap home insurance companies in Tennessee because of its robust coverage options like yard and garden, electronic data recovery and sports equipment coverage, along with extras like Claim Rateguard, which helps keep your costs 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.

CheckmarkPros

Close XCons

Allstate has an extensive list of endorsements that allow you to customize your policy to suit your circumstances, including the following:

Best for ease of doing business

4.2

4.2

Avg. premium for $300K dwelling

$163/mo

Avg. premium for $300K dwelling

$1,952/yr

Customer satisfaction

829/1,000

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 fifth 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.

CheckmarkPros

Close XCons

As the largest writer of personal insurance policies in the U.S. by market share, State Farm offers a broad range of coverage types, including the following:

Best for discount opportunities

4.1

4.1

Avg. premium for $300K dwelling

$195/mo

Avg. premium for $300K dwelling

$2,340/yr

Customer satisfaction

790/1,000

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.

CheckmarkPros

Close XCons

Travelers offers a robust assortment of endorsements to allow homeowners to customize their policies. A few of them, such as the green home endorsement, are not common for Tennessee insurers.

Additional Tennessee home insurance companies to consider

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

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

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.

Cheapest home insurance companies in Tennessee

The average home insurance cost in Tennessee is $2,395 annually for $300k 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.

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:

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.

How to save on home insurance policy renewals in Tennessee

Policyholders looking to save money on insurance may want to consider the following strategies.

How much is home insurance in Tennessee?

Tennessee homeowners insurance averages $2,395 annually for $300K in dwelling coverage, which is $200 above the national average of $2,153. Compared to its neighbors, though, Tennessee homeowners may pay less. Kentucky's average is $2,603, while Mississippi homeowners pay an average of $4,289.

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.

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.

*Rates are for $300,000 in dwelling coverage.

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:

Related content:

Guide to flood insurance Previously Read

The best home and auto insurance bundles Previously Read

Home insurance claims statistics and facts Previously Read

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:

New

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:

Frequently asked questions

How much homeowners insurance do you need?

The amount of home insurance you need depends on various factors. You will want to consider the size and features of your home, the risks you want to insure against and your personal belongings. More expensive homes generally need more dwelling coverage, and you may need more coverage to insure against risks like flooding and sinkholes. You might be comfortable with lower limits if you have plenty of money saved that you could use to repair your home. If not, you might want to make sure you have enough coverage to rebuild everything if your property should be destroyed.

The amount of home insurance you need depends on various factors. You will want to consider the size and features of your home, the risks you want to insure against and your personal belongings. More expensive homes generally need more dwelling coverage, and you may need more coverage to insure against risks like flooding and sinkholes. You might be comfortable with lower limits if you have plenty of money saved that you could use to repair your home. If not, you might want to make sure you have enough coverage to rebuild everything if your property should be destroyed.

How do you get home insurance in Tennessee?

To get home insurance, you first need to get quotes. You can often do this online or by phone, or you could visit a local agency. Understanding your needs and wants might help you narrow down which home insurance companies to look at. Getting quotes from several companies allows you to compare prices, but you may want to also look into coverage options, discounts and third-party scores and ratings. Once you have chosen a company, a representative can walk you through the next steps.

To get home insurance, you first need to get quotes. You can often do this online or by phone, or you could visit a local agency. Understanding your needs and wants might help you narrow down which home insurance companies to look at. Getting quotes from several companies allows you to compare prices, but you may want to also look into coverage options, discounts and third-party scores and ratings. Once you have chosen a company, a representative can walk you through the next steps.

Do you need flood insurance?

Generally, flood insurance isn’t mandated. However, if your home is on a mortgage and in an area at risk of flooding, your mortgage lender may require that you maintain flood insurance as part of the terms of your loan. This coverage isn’t included with standard homeowners insurance and must be added as a separate policy if you want flood insurance. Policies can be bought through the National Flood insurance Program (NFIP) or through a private flood insurer. When purchasing from the NFIP, your home insurer will usually handle the process.

Generally, flood insurance isn’t mandated. However, if your home is on a mortgage and in an area at risk of flooding, your mortgage lender may require that you maintain flood insurance as part of the terms of your loan. This coverage isn’t included with standard homeowners insurance and must be added as a separate policy if you want flood insurance. Policies can be bought through the National Flood insurance Program (NFIP) or through a private flood insurer. When purchasing from the NFIP, your home insurer will usually handle the process.

Insurance rates and policies are highly personalized and vary between policyholders, insurers and properties. The cheapest policy and company for your neighbor may not be the cheapest for you. When looking for your cheapest home insurance, it can be wise to shop around between several companies and request a free quote from each to help you identify which may offer the lowest rates. You can also compare available discounts. Beyond these avenues, you may also be able to lower your rates by reducing your home risk through items like fire detectors and home security systems.

Insurance rates and policies are highly personalized and vary between policyholders, insurers and properties. The cheapest policy and company for your neighbor may not be the cheapest for you. When looking for your cheapest home insurance, it can be wise to shop around between several companies and request a free quote from each to help you identify which may offer the lowest rates. You can also compare available discounts. Beyond these avenues, you may also be able to lower your rates by reducing your home risk through items like fire detectors and home security systems.

Methodology

Bankrate utilizes Quadrant Information Services to analyze May 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply. 

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

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.

Mariah Posey is an auto, home and life insurance editor and writer for Bankrate.com. She aims to make the insurance journey as convenient as possible by simplifying industry lingo and implementing thoughtful content design to provide readers clear answers to their questions.

Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance.

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