Best Homeowners Insurance In Tennessee For 2024

State Farm offers the best homeowners insurance in Tennessee.

min read
Updated: 15 March 2024
Written by
Bob Phillips
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Anyone who is a homeowner in the Volunteer State probably knows all about its weather. Most of Tennessee has a moderate climate ranging from hot and humid during the Summer to cool or even freezing cold during the Winter. Tennessee has some bad weather, but being inland it’s not as bad as states bordering on coastlines. The worst weather is during tornado season, but there are occasional ice and snow storms that bring much damage and destruction, as well.

We’ve researched and gathered some information and data you might find useful if you’re looking for the best insurance carrier for your needs.

Through my research and experience, I’ve determined that State Farm is the overall best in home insurance carriers in Tennessee.

Best Homeowners Insurance In Tennessee, 2024

Best Home Insurance, Tennessee, 2024

Compare The Best Homeowners Insurance In Tennessee

Overall Rating Best For A.M Best Rating J.D Power Rating Online Experience Get A Quote
State Farm
4.9

Best Overall

A++

829

9/10

Instant Quote
Chubb
4.8

Cheap Rates

A+

809

7/10

Instant Quote
Nationwide
4.6

Coverage Options

A+

815

8/10

Instant Quote
Farmers
4.4

Policy Perks

A

792

9/10

Instant Quote
Allstate
4.7

Discounts

A+

816

9/10

Instant Quote
Scroll to see comparisons

Our Methodology

When conducting research on homeowners insurance carriers and determining which are the best of the best, we base our decisions on information from prestigious, unbiased companies like AM Best and J.D. Power. We also check out policyholder reviews and how they rate a company, along with additional data. J.D. Power is our source of info about an insurer's customer satisfaction.

AM Best is where we get information about the financial strength and stability of a company. Customer ratings are important and a good way of assessing how a company treats its policyholders.

59

Quotes Analyzed

16

Brands Reviewed

15+

Years Of Experience

30+

Research Hours

The Best Homeowners Insurance Companies In Tennessee


Best Overall

Overall Rating
4.9

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
10/10 Coverage Level

Why We Like Them

State Farm was our first choice overall for home insurance in Tennessee. Financially, it’s strong and stable with the highest possible rating of A++ from AM Best. J.D. Power gives State Farm a very good rating, 829 /1000, in the area of policyholder satisfaction, because of its many glowing reviews online from happy customers. With many local agents, offices, and claims reps in Tennessee, you can count on State Farm to give you speedy, convenient service when needed.

State Farm has an abundance of good points for anyone searching for the best homeowners insurance. It offers you protection from things like credit card fraud and Identity Protection. If you’re a member of an HOA with stringent codes and have to rebuild or even repair your home due to a covered loss, State Farm will provide you with the assistance of an attorney plus the expense of new materials needed to get you in compliance. These and more are examples of the protection from loss you’ll get from State Farm.

When you select State Farm as the company you’d like to insure your home and property with, it’s fast and simple to get online and start the ball rolling. Please note that while you can do a lot online, you’ll be required to get with an agent to actually take out coverage. Once you’ve done that, you’ll have account access online through the app or State Farm website. Online tools are a big timesaver and they are convenient for busy people. You can enroll in auto-pay and paperless billing, pay your premium, or file claims all from the comfort of your own home or office. The State Farm site has a good online resource library, also, with much useful information about insurance.

Benefits & Drawbacks

Benefits
  • Numerous office and agents locally throughout the state
  • Many coverage options
  • AM Best's highest rating for financial stability and strength
Drawbacks
  • Unable to buy State Farm homeowners insurance through an independent agent

Best Coverage Options

Overall Rating
4.6

Key Statistics

8/10 Affordability
6/10 Customer Reviews
9/10 Claims
9/10 Coverage Level

Why We Like Them

J.D. Power bestows a high A+ rating to Nationwide due to its strong and stable financial footing. Customer satisfaction reviews aren’t the best, but they aren’t terrible, either. Overall, Nationwide has a stellar reputation within the industry. Multiple local offices with agents and claims adjusters means speedy, convenient service for customers.

Nationwide has many options that are not usually found in standard home insurance coverage. Like reimbursement for ID theft and credit card fraud, both of which are becoming more prevalent every day. Or if you live within a strict and stringent HOA and are forced to repair or rebuild your property because of a covered loss, Nationwide provides you with legal help if you need it to be in compliance. It provides additional coverage for repair or building costs, too.

The company’s Better Roof Replacement gives you added coverage if you have to buy new roofing materials after a tornado, ice storm or other covered loss.

Brand New Belongings is another handy option that Nationwide offers. It will reimburse you for loss or damage of your personal belongings, minus depreciation. You just buy replacements, send your receipts to Nationwide, and you’ll receive reimbursement less the difference between what you paid for the replacements and the depreciation.

Benefits & Drawbacks

Benefits
  • Multiple local offices, agents, and claims adjusters in the state
  • High rating from AM Best due to its strong financial standing
  • Numerous coverage options
Drawbacks
  • A lot of negative online reviews online from customers
  • AirBnb and other short term rentals aren't covered

Best For Policy Perks

Overall Rating
4.4

Key Statistics

9/10 Affordability
6/10 Customer Reviews
7/10 Claims
9/10 Coverage Level

Why We Like Them

Farmers home insurance gets high ratings from customers for policy perks, as well as its online experience. These great reviews and ratings for online experience are most likely due to the company’s clear explanation of these perks and how they can affect your premiums and coverage. If you are looking at home insurance, the perks you get from Farmers might influence you to choose them as your insurer. Some of the policy perks available from Farmers are:

  • Discount if Claim Free: If you have been free of claims for three years, you receive a discount
  • Replacement Cost Guaranteed: Farmers pays you the whole cost of repairing or rebuilding your home and property because of a covered loss, no matter the cost
  • Deductible Declines: For every year your policy is in force, you get $50 taken off your deductible
  • Multi Line Policies: Have more than one type of coverage with Farmers, such as auto insurance and home insurance, and you get a discount of up to 34% off your premium
  • Claim Forgiveness: If you have filed no claims for a minimum of five years, your rates won’t go up if you do have a claim

Farmers has been awarded a superior rating of 9.3/10  from J.D. Power. That rating is probably lower than it would be if not for the higher number of negative reviews from  customers.

Benefits & Drawbacks

Benefits
  • Numerous local agents and offices in Tennessee
  • Guaranteed replacement cost is standard in all policies
  • Over twelve available discounts
Drawbacks
  • Rated lower than the US industry average in customer satisfaction

Best For Cheapest Coverage

Overall Rating
4.8

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
8/10 Coverage Level

Why We Like Them

Chubb homeowners insurance has amongst the most affordable rates for higher end homes. In Tennessee. Its average cost of $1,770.00 annually is lower than the average rate of  $2,033.00 a year in the state.

Home owners in Tennessee give overall positive reviews for Chubb, especially for its affordable premiums and many features not usually found in basic home and property insurance. For example, if your dwelling is destroyed by a covered loss, you have the option of not rebuilding but accepting a cash settlement for its worth. Other features such as personalized claims, services of a property manager for a second home, high tech property inspections, and others are attractive to a lot of people. Additionally, Chubb has attractive add ons, like options available other than its standard home insurance.Things like coverage for , replacement of home and personal belongings, water backup, breakdown of equipment, and more. You’ll get added coverage for the extended replacement cost of your home and property, too, even if the value has depreciated since you bought it.

Benefits & Drawbacks

Benefits
  • Many special features and options
  • Special coverage available for high value homes
  • Among the least expensive rates in Tennessee
Drawbacks
  • You can't get a quote online
  • There isn't a personal property schedule

Best For Discounts

Overall Rating
4.7

Key Statistics

8/10 Affordability
7/10 Customer Reviews
8/10 Claims
8/10 Coverage Level

Why We Like Them

Allstate has eleven home insurance discounts available, while the national average is just seven. These extra discounts are valuable because they can save money on your homeowners insurance cost. Allstate has an outstanding reputation in the industry and with policyholders in Tennessee, as well as across the country. Many home insurance analysts, myself included, feel that its good reputation is well deserved.

Allstate’s discounts include:

  • New Home: A newly constructed dwelling can mean a discount
  • New Home Buyer: Purchase a new home and you could receive a discount
  • Automatic Payment: Having premiums automatically deducted from your bank account may get you a 5% discount
  • Loyalty: Receive a 10% discount upon policy renewal
  • Claims Forgiveness: You can get optional coverage that ensures your rates don’t increase if you have a claim
  • Deductible Reward: When you purchase a policy, $100 is taken off your deductible
  • Claims Free: 12 months of no claims and you’ll receive a discount of five percent upon renewal
  • Early Payment: Take out a new policy within seven days of renewing your current policy and receive a 10% discount
  • Protective Device: If you install protective theft and fire devices, you receive a discount
  • Responsible Payment: Build a solid payment record and get a discount
  • Bundle: Have more than one type of insurance with Allstate and get a discount of as much as 25%

Allstate has nearly twice the national average number of policy discounts, with 11 available. Besides the standard options like ID Theft and credit card fraud, Allstate has more discounts for its customers. For instance, you have coverage for lawn and garden things like repair or loss of  riding lawn mowers for landscaping.

Benefits & Drawbacks

Benefits
  • Eleven discounts as opposed to the insurance industry average of seven
  • Many local agents and offices across the state
  • Financial strength and stability
Drawbacks
  • Customer complaints left online are more than average in number

Average Cost Of Home Insurance In Tennessee

 Cheapest Home Insurance In Tennessee

Insurer Annual Rate
USAA $1,237
Chubb $1,421
Travelers $1,808
Kin $1,945
Allstate $2,005
Tennessee Average Rate $2,033
State Farm $2135
Farmers $2405
Nationwide $2700

Cheapest Cities For Homeowners Insurance In Tennessee

City Annual Rate
Johnson City $1,432
Kingsport $1,436
Morristown $1,558
Knoxville $1,578
Brentwood $1,580

Most Expensive Cities For Homeowners Insurance In Tennessee

City Highest Rate
Brownsville $2,020
Lavinia $2,040
Cordova $2,195
Jackson $2,230

Home Insurance Premiums By Deductible In Tennessee

Deductible Average Annual Rate
$500 $1,826
$1,000 $1,617
$1,500 $1,606
$2,000 $1,518
$5,000 $1,313

Home Insurance Prices By Coverage Level In Tennessee

Coverage Level Average Annual Rate
$100,000 Dwelling $931
$200,000 Dwelling $1,459
$250,000 Dwelling $1,697
$400,000 Dwelling $2,539

The Most Affordable Areas For Homeowners Insurance In Tennessee

Homeowners insurance in Tennessee varies by ZIP code. It may range from a low of $1,432.00 in Johnson City, zip code 37601, to as much as $2,230.00 in Jackson, zip code 38305. The lowest rates according to zip codes are:

ZIP Code City Lowest Rate
37601 Johnson City $1,432.00
37660 Kingsport $1,436.00
37816 Morristown $1,538.00
37919 Knoxville $1,575.00

How To Get A Home Insurance Quote Online In Tennessee

Getting a home insurance quote online isn’t difficult in most cases. However, you will run across a few insurers that don’t allow online quotes. In that event, you’ll have to meet with one of their agents if you’re interested in purchasing a policy. Check out company websites and check out customer reviews, both positive and negative. You’ll also want to see what kind of rating each company gets from AM Best and J.D. Power. Discard all but 3 companies that seem appropriate for your needs. Discard two of these three based on your research, and make an application for coverage with the company of your choice. Here are 3 easy steps to get quotes and apply for coverage:

  1. Answer all questions you’ll find on the form. These questions will be about the value of your home, its contents, when it was built, square feet, and other things
  2. When the questions have all been answered, you should submit the form for your quotes
  3. After you get quotes and decide which one carrier seems the most suitable, submit your application for coverage

You’ll have to meet with a company agent for any that don’t give online quotes.

How To Find The Best Home Insurance Company For You

Researching and obtaining information about almost anything is much easier today than before the World Wide Web came along. This holds true for learning about home insurance, too. So if researching homeowners insurance is in your plans, you’re in luck because the internet is your friend and a valuable source of data. You’ll have to put in some work online, but it will be a good investment of your time and efforts since your home is probably the most expensive thing you own. That makes it important to protect that asset, for the financial security of  your family.

Here are five steps to help you decide which home insurance company is right for you:

  1. First, learn everything you can about homeowners insurance carriers in Tennessee. You can do this online, there’s plenty of information available. Discard the insurers that don’t seem like a good fit for you until you have three left in the running
  2. Then sit down with a calculator and decide how much coverage you need. You may benefit by getting an insurance agent to assist you in this
  3. Your next step is to obtain quotes from the three finalists
  4. Check out the rates of each insurer, along with each one’s financial condition, coverage amounts, and ratings from customers
  5. Now you are ready to apply for insurance coverage with your first choice for home insurance

Many companies will let you get a quote online, but some won’t. For those that won’t, you’ll have to meet with an agent to get a quote.

Factors That Impact Cost Of Your Home Insurance Policy In Tennessee

The price of your homeowners insurance premium in Tennessee is dependent on several things, such as:

  • Your claim history – Anyone who has filed homeowner claims before will probably pay a higher premium
  • Deductibles and amount of coverage—The less deductible you pay, the more premium you pay. Another factor in the cost of your premium is the value of your home. A higher end luxury home will cost more to insure than a more humble abode. This will be reflected in your premium
  • The zip code of your home – If your home is located in an area that’s prone to extreme weather such as tornadoes, ice and snow storms, floods, or other weather events, you’ll have higher premiums
  • The age of the home – If your home was built thirty years or more ago, your premiums might cost as much as 75% more than a newer home. This is because recently constructed homes have more stringent building codes, making it more costly to comply with current building codes.
  • Close to flood zones – If you live in an area that experiences flooding, your home insurance will be more expensive to offset that risk

Tennessee Home Insurance Laws To Know

Tennessee law doesn’t require you to have home insurance. However, your lender will stipulate that you insure it if there is a mortgage.

Home Insurance Discounts In Tennessee

One question you need to ask an insurance agent is what kind of discounts their company offers. This is a key point because discounts can save you money. Most companies will let you have more than one discount. Here are discounts you might receive:

  • Bundle: Bundling your insurance coverage, in other words having your vehicle and homeowners policies with the same insurer, might mean up to a 25% discount
  • Automatic Payment: Agree to have your premiums deducted automatically from your checking account and you may get a discount
  • Responsible Payment: If you pay premiums on time, you might get a discount for maintaining a good payment history
  • New Home: You may be able to receive a discount upon buying a new home
  • Claims Free: You could receive as much as a 25% discount off your premium if you haven’t filed a claim for at least a year
  • Early Payment: Purchase a new policy within seven days of the expiration of your old one, and you may get a discount

FAQs

Is home insurance more expensive in Tennessee?

No it isn’t. The average annual rate for homeowners insurance in Tennessee is $2,033.00, which is lower than many other states.

How much per month is a million-dollar home insurance policy in Tennessee?

Your cost for homeowners insurance in Tennessee is based on various things. For instance, your home’s value, the value of your belongings, your home’s location, its age, its outside composition, the amount of your deductible, your carrier, and more. Two of the least expensive home insurance rates in Tennessee are Chubb and State Farm, with yearly premium rates of $1,421.00 for Chubb and $2,135.00 for State Farm.

What is the average monthly cost of home insurance in Tennessee?

Home insurance rates are figured on things like your home’s worth, the worth of your personal belongings, where your home is located, how much of a deductible you have, your home’s age, and more. The average home in Tennessee valued at $300,000 will usually cost around $150 a month to insure.

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