Best & Cheapest Homeowners Insurance in Knoxville, TN May, 2024
In Knoxville, Tennessee, Allstate offers the most affordable home insurance option for homeowners, with an average annual rate of $1,314.
After conducting a thorough assessment of home insurance providers in Knoxville, Tennessee, Allstate emerges as the most budget-friendly choice, offering an average annual rate of $1,314. However, it’s essential to understand that the ideal insurer can vary depending on your unique circumstances and preferences.
For instance, if you own a newly built home, Auto-Owners provides the most economical option at $907 annually. Moreover, if your credit score is lower, Allstate remains the most affordable choice with an average yearly premium of $3,135.
Furthermore, if you have valuable personal belongings that require protection, USAA once again proves to be the top contender, providing comprehensive coverage at a reasonable rate of $1,572 per year.
Our comprehensive analysis at Insuranceopedia is designed to help you find the perfect fit for your home insurance needs. By comparing customer ratings, evaluating personal experiences, and offering comparison charts, we aim to provide you with all the necessary information to make a well-informed decision.
How much is homeowners insurance in Knoxville, TN?
In Knoxville, Tennessee, Allstate offers the most affordable homeowners insurance rate, priced at $1,314 per year.
| Area | Average Monthly Rate |
| National | $1,820 |
| Tennessee | $3,472 |
| Knoxville | $2,056 |
It’s crucial to recognize that insurance rates are not set in stone; they can vary significantly based on several factors.
Cheapest Homeowners Insurance in Knoxville, TN
Our Methodology
To identify the most affordable home insurance rates in Knoxville, we analyzed data from various home insurance review platforms. These platforms collected rates from public filings acquired by Quadrant Information Services. We calculated an average of these rates for our assessment. However, it's crucial to note that rates from each company can fluctuate regularly and may vary based on your specific circumstances. Additionally, our comprehensive rating includes subjective opinion, drawing from fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.
Quotes Analyzed
Years Of Industry Experience
Brands Reviewed
Research Hours
Cheapest Homeowners Insurance in Knoxville, TN
Allstate is the standout option for budget-friendly homeowners insurance in Knoxville, Tennessee, offering an average annual rate of $1,314.
| Company | Annual Premium |
| Allstate | $1,314 |
| Erie | $1,438 |
| USAA | $1,541 |
| State Farm | $2,015 |
| Auto-Owners | $4,610 |
Your insurance premium is influenced by multiple factors, such as your location, the value of your home, and your claims history. Allstate offers a mix of affordability and comprehensive coverage, striking a balance that meets the needs of homeowners.
Cheapest Homeowners Insurance for Newly Constructed Homes
Auto-Owners offers the most affordable option for newly constructed homes, with an average annual rate of $907.
| Insurance Company | Average Annual Premium |
| Auto-Owners | $907 |
| Erie | $989 |
| USAA | $1,086 |
| State Farm | $1,517 |
| Travelers | $2,406 |
Auto-Owners is known for providing affordable policies tailored to address the unique coverage needs of newly constructed homes, which often differ from those of older homes.
Cheapest Homeowners Insurance If You Have Poor Credit
If you have a poor credit score, Allstate offers the most affordable solution, with an average annual rate of $3,135.
| Insurance Company | Average Annual Premium |
| Allstate | $3,135 |
| USAA | $3,168 |
| State Farm | $3,945 |
| Erie | $4,530 |
| Auto-Owners | $15,060 |
Your credit score plays a crucial role in determining your insurance rates, as insurers use it to assess risk. Allstate understands the significance of providing equitable coverage to everyone, irrespective of their financial history.
Cheapest Home Insurance Rates for Lots of Personal Property
For individuals who own a significant amount of personal property, USAA offers the most affordable rates, averaging $1,572 annually.
| Insurance Company | Average Annual Premium |
| USAA | $1,572 |
| Auto-Owners | $1,625 |
| State Farm | $2,054 |
| Travelers | $5,394 |
As your personal property increases, your coverage needs may also grow, which could lead to higher premiums. However, USAA provides comprehensive coverage at reasonable rates, ensuring that all your belongings are adequately protected.
Best Homeowners Insurance Companies in Knoxville, TN
Choosing the right homeowners insurance isn’t just important; it’s a strategic decision. With Knoxville’s diverse history, its homes reflect the uniqueness of its residents. Therefore, finding an insurance provider that offers comprehensive coverage at competitive rates is crucial.
To streamline your decision-making process, we’ve gathered a list of the top homeowners insurance companies in Knoxville, Tennessee. These companies have been evaluated based on factors such as annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Take a look at our comparison chart below to find the perfect match for your home insurance needs.
| Company | Annual Premium | |
| 1. | Allstate | $1,314 |
| 2. | Erie | $1,438 |
| 3. | USAA | $1,541 |
| 4. | State Farm | $2,015 |
| 5. | Auto-Owners | $4,610 |
| 6. | Travelers | $4,740 |
Average Home Insurance Rates by Zip Codes
The price of homeowners insurance in Knoxville, TN can vary widely depending on the zip code. Here are tables showing rates for various zip codes in Knoxville, including the least expensive and most expensive ones for annual home insurance premiums in the area.
| ZIP Code | Average Insurance Premium (Annual) |
| 37921 | $1,910 |
| 37909 | $2,132 |
| 37923 | $1,956 |
| 37917 | $1,806 |
| 37919 | $1,836 |
Cheapest Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 37931 | $1,877 |
| 37909 | $1,910 |
| 37923 | $1,944 |
| 37934 | $1,965 |
Most Expensive Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 37921 | $2,246 |
| 37917 | $2,132 |
| 37919 | $2,075 |
| 37912 | $2,073 |
Average Home Insurance Rates in Knoxville, TN by Deductible Amount
The deductible amount you select for your homeowners insurance policy can significantly affect the premium rates in Knoxville, Tennessee. Here’s a breakdown of how average home insurance rates vary depending on different deductible amounts:
| Deductible Amount | Average Annual Premium |
| $500 | $1,471 |
| $1,000 | $1,325 |
| $1,500 | $1,260 |
| $2,000 | $1,130 |
Average Home Insurance Rates in Knoxville, TN By Coverage Amount
The amount of dwelling coverage you choose is a critical factor that impacts your premium. This figure represents the maximum amount your insurance company will pay to rebuild or repair your home if it suffers damage or destruction.
Below is a comparison chart that shows the average annual premiums for homeowners insurance across different dwelling coverage amounts.
| Dwelling Coverage Amount | Average Annual Premium |
| $200,000 | $1,205 |
| $250,000 | $1,456 |
| $300,000 | $1,578 |
| $350,000 | $1,886 |
| $400,000 | $2,034 |
Average Home Insurance Rates in Knoxville, TN by Company
Here’s a comparison of yearly premiums from leading insurance companies in Knoxville.
| Company | Annual Premium |
| Allstate | $1,314 |
| Erie | $1,438 |
| USAA | $1,541 |
| State Farm | $2,015 |
| Auto-Owners | $4,610 |
| Travelers | $4,740 |
How Much is Homeowners Insurance for Other Cities in Tennessee?
Here is a comprehensive comparison chart showcasing the most affordable annual premiums across various cities in Tennessee.
| City | Annual Premium |
| Adamsville | $2,360 |
| Memphis | $3,864 |
| Cedar Hill | $2,192 |
| Charleston | $1,890 |
Getting Online Homeowners Insurance Quotes in Tennessee
Insuranceopedia and similar platforms streamline the process of finding tailored coverage for your specific needs with ease. They provide fast online quotes from various top-rated insurers, enabling you to compare rates effortlessly.
Simply enter your information, and the platform handles the rest by presenting you with customized options. This empowers you to confidently select a policy that offers the best value, effectively balancing cost and comprehensive coverage.
FAQs
Who has the cheapest home insurance in Knoxville, TN?
In Knoxville, Tennessee, Allstate provides the most affordable home insurance option, with an annual premium of $1,314.
What is the average cost of home insurance in Knoxville, TN?
On average, homeowners insurance in Knoxville, Tennessee, typically costs around $2,056 annually.
