Best Condo Insurance In Tennessee
The average annual expense for condo insurance in Tennessee totals $620, and Nationwide is the top-ranked provider.
We’ve saved shoppers an average of $450 per year on their home insurance.
Tornadoes and thunderstorms are a regular occurrence in Tennessee, making weather damage to condos a potential concern. While the law doesn’t require condo insurance, your mortgage lender might. Condo insurance safeguards your finances against damage, theft, and other risks.
Depending on your HOA, it might also include dwelling coverage. Ensure your policy covers a broad range of potential risks. This guide can help you navigate the process of finding the best condo insurance in Tennessee.
Best Condo Insurance Companies In Tennessee, 2026
Compare The Best Condo Insurance Policies In Tennessee
| Best For | Overall Rating | A.M Best Rating | J.D Power Rating | Get A Quote | |
|---|---|---|---|---|---|
| Nationwide |
Overall |
|
A+ |
816 |
Instant Quote |
| Travelers |
Discounts |
|
A |
794 |
Instant Quote |
| Amica |
Runner-Up |
|
A+ |
849 |
Instant Quote |
| Chubb |
High-Value Condos |
|
A++ |
809 |
Instant Quote |
Best Condo Insurance Companies In Tennessee 2026
Best For High-Value Condos
Key Statistics
Why We Like Them
⇅Owners of high-end condos in Tennessee will find Chubb to be a top provider due to their excellent service and tailored policies. Their Masterpiece policy offers extended replacement cost coverage, covering rebuild costs that exceed the insured amount. With options like cyber and identity fraud coverage, Chubb meets the needs of affluent individuals. Their high coverage limits ensure maximum protection for luxury properties.
Benefits & Drawbacks
⇅- Provides wider coverage options
- Remarkable client service
- The complaint tally was low. ✓
- Crafted for lavish residential complexes
- Costs are elevated beyond typical industry benchmarks.
- Fails to meet BBB accreditation criteria. ✘
Best Runner-Up
Key Statistics
Why We Like Them
⇅In second place, Amica shines with its broad coverage options for Tennessee condo owners. The Platinum Choice policy offers higher coverage limits and additional benefits compared to standard plans. Affordable rates set Amica apart, with premiums significantly cheaper than Allstate’s. Bundling condo and auto insurance can lead to discounts of up to 20%. Amica is known for its excellent service and consistently high customer satisfaction ratings.
Benefits & Drawbacks
⇅- Range of coverage solutions
- Slight customer discontent
- Insurer with a strong financial standing. ✓
- Rates that are higher than the ordinary.
- AM Best's rating took a downward turn in 2017.
- Condo insurance dividend policies may not be offered in all states. ✘
Best Overall
Key Statistics
Why We Like Them
⇅Topping this guide, Nationwide offers customizable policies that protect personal items, including furniture and clothing, and provide ALE coverage for living expenses if you’re forced out of your condo by covered damage. Customers can further personalize their policies with optional endorsements. Nationwide’s prompt claims handling and exceptional customer service make it a standout choice.
Benefits & Drawbacks
⇅- Competitive fee structure
- A comprehensive selection of coverage options
- Top-tier customer assistance ✓
- Ideal for affluent condominium developments.
- Temporarily discounted rates.
- Scope for unexpected expenditures ✘
Best For Discounts
Key Statistics
Why We Like Them
⇅If you’re a Tennessee condo owner, Travelers Insurance provides an excellent balance of savings and comprehensive coverage. You can save up to 15% with their multi-policy discount by bundling condo, auto, and other insurance plans. Travelers also offers a protective device discount for customers installing smart home tech or safety devices. Despite offering competitive coverage, Travelers’ rates remain some of the lowest in the market.
Benefits & Drawbacks
⇅- Pocket-friendly rates
- Alternative to amalgamate multiple insurance options
- Top-level fiscal health appraisal ✓
- Limited safeguard
- There's a possibility of a directory of prohibited dog types. ✘
How Much Is Condo Insurance In Tennessee?
In Tennessee, the average cost of condo insurance is $620 per year. Shelter offers the most competitive rates, averaging $360 annually. See the table for annual premium breakdowns from five leading condo insurance providers.
| Insurance Company | Average Annual Rate |
| State Farm | $465 |
| Shelter | $360 |
| Farmers | $510 |
| Erie | $708 |
| Allstate | $740 |
Average Cost Of Condo Insurance In Tennessee – By City
This table summarizes the average condo insurance costs across major cities in Tennessee.
| City | Average Annual Rate |
| Memphis | $707 |
| Murfreesboro | $625 |
| Nashville | $670 |
| Chattanooga | $612 |
| Clarksville | $634 |
Condo Insurance Rates In Tennessee – By Building Property Limits
Each condo requires unique insurance coverage, based on the rebuilding cost. The table below outlines average monthly premiums for various coverage limits.
| Building Property Limit | Average Annual Rate |
| $40,000 | $539 |
| $60,000 | $618 |
| $80,000 | $695 |
| $100,000 | $765 |
Don’t overlook the importance of quality insurance coverage in pursuit of the lowest rates; prioritize a policy that offers a mix of affordability, coverage, financial stability, and excellent customer service.
How To Find The Best Condo Insurance Company For You
Protecting your condo with insurance is a smart investment. To find the right provider:
Determine the level of coverage you need.
Research and narrow your options to three insurers.
Get quotes from each.
Compare their offerings, considering cost and reputation.
Purchase the most suitable policy.
.
Factors That Impact The Cost Of Your Condo Insurance Policy
Factors affecting Tennessee condo insurance costs include:
- Replacement Costs: Expensive rebuilds increase premiums.
- Area Risks: High crime or weather risks lead to higher insurance costs.
- Condo Age: Older buildings with outdated infrastructure are more expensive to insure.
- Claims Record: Frequent claims raise premiums, but clean records may reduce rates.
Most Expensive ZIP Codes For Condo Insurance In Tennessee
At $4,515 per year, condo insurance in Tennessee’s 38127 ZIP code is the most expensive among the state’s locales.
| ZIP Code | Average Yearly Premium |
| 38105 | $4,210 |
| 38126 | $4,148 |
| 38127 | $4,515 |
| 38114 | $4,330 |
Cheapest ZIP Codes For Condo Insurance In Tennessee
Condo insurance is most affordable in ZIP code 37664, with an average annual cost of $2,218.
| ZIP Code | Average Yearly Premium |
| 37659 | $2,310 |
| 37618 | $2,314 |
| 37664 | $2,218 |
| 37620 | $2,246 |
How To Get An Online Condo Insurance Quote In Tennessee
The easiest way to find condo insurance in New Jersey is by comparing quotes from a variety of trusted providers. Use Insuranceopedia to get started. You’ll need to provide these details for accurate quotes:
- Name
- Condo address
- Year it was built
- Exterior wall type
- Square footage
- Rebuilding cost estimate
- Personal property value
- Number of occupants
- Your claims history
- Installed safety/security devices
How Much Condo Insurance Is Legally Required In Tennessee?
Although the state of Tennessee doesn’t require condo insurance, lenders or associations frequently demand it. Policies generally offer liability coverage between $100,000 and $500,000.
How Much Condo Insurance Do I Need In Tennessee?
The type of condo insurance needed in Tennessee can vary based on your condo’s layout, the value of your possessions, and the insurance coverage provided by your condo association’s master policy. Adding loss assessment coverage to your policy can protect against expenses from damages or losses in shared condo spaces.
How To Save Money On Tennessee Condo Insurance
To lower your condo insurance costs in Tennessee, one effective method is to raise your deductible. A higher deductible typically means lower premiums, but keep in mind that you’ll need to pay more out-of-pocket if a claim occurs. Another way to reduce your insurance rates is by taking steps to weatherproof and burglar-proof your condo. Installing storm shutters and security systems can reduce potential damage and theft, leading to lower premiums.
Compare Condo Insurance Rates To Other States
| State | Average Annual Premium |
| Alabama | $607 |
| Alaska | $418 |
| Arizona | $440 |
| Arkansas | $578 |
| California | $605 |
| Colorado | $479 |
| Connecticut | $403 |
| Delaware | $498 |
| Florida | $1,069 |
| Georgia | $553 |
| Hawaii | $368 |
| Idaho | $483 |
| Illinois | $407 |
| Indiana | $384 |
| Iowa | $299 |
| Kansas | $397 |
| Kentucky | $391 |
| Louisiana | $786 |
| Maine | $408 |
| Maryland | $331 |
| Massachusetts | $461 |
| Michigan | $360 |
| Minnesota | $351 |
| Mississippi | $634 |
| Missouri | $388 |
| Montana | $521 |
| Nebraska | $391 |
| Nevada | $477 |
| New Hampshire | $381 |
| New Jersey | $429 |
| New Mexico | $433 |
| New York | $475 |
| North Carolina | $519 |
| North Dakota | $287 |
| Ohio | $315 |
| Oklahoma | $655 |
| Oregon | $400 |
| Pennsylvania | $390 |
| Rhode Island | $587 |
| South Carolina | $530 |
| South Dakota | $328 |
| Texas | $873 |
| Utah | $301 |
| Vermont | $375 |
| Virginia | $372 |
| Washington | $400 |
| West Virginia | $331 |
| Wisconsin | $272 |
Our Methodology
I researched the top condo insurance companies in Tennessee by evaluating customer satisfaction and financial strength ratings from reputable sources like J.D. Power and AM Best. Consumer reviews and my professional experience as a licensed property and casualty agent in the state also shaped my findings.
Quotes Analyzed
Brands Reviewed
Years Of Experience
Research Hours
FAQs
What Does Condo Insurance Cover In Tennessee?
Often referred to as an HO-6 policy, condo insurance protects the inside of your condominium and its contents from unforeseen damage or loss. This includes elements such as walls, floors, fixtures, and cabinets, as well as personal belongings. Additionally, condo insurance provides liability coverage and typically includes $1,000 for loss assessment coverage to address damages affecting shared spaces within the condominium complex. Coverage limits can be heightened through a policy endorsement.
How does condo insurance work?
Condo insurance ensures financial security for condo owners by protecting their condominiums and personal property from a variety of risks through an extensive range of coverage options and supplementary policy additions.
About Bob Phillips
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