Cheapest & Best Renters Insurance In Nashville 2025

Tennessee Farmers offers the most affordable renters insurance in Nashville, with rates averaging around $10 per month. However, State Farm is often considered the best option due to its excellent customer service and additional coverage options, though it comes at a slightly higher cost of about $15 per month.

Known as Music City, Nashville sees over 30,000 property crimes annually, affecting roughly 45 out of every 1,000 residents. With crime rates this high, renters insurance is a wise choice—it safeguards your belongings, provides financial protection, and offers peace of mind.

Cheapest Renters Insurance Companies In Nashville

If you’re looking for budget-friendly renters insurance in Nashville, Tennessee Farmers offers the lowest rates, averaging around $10 per month. To help you compare, the table below highlights the five most affordable providers.

Best Renters Insurance Companies In Nashville

Tennessee Farmers is a great option for renters in Nashville seeking affordable insurance. However, the lowest price doesn’t always guarantee the best coverage. In my view, State Farm is the top choice for renters insurance in the area. It offers competitive rates along with excellent customer service, bundling discounts, and additional coverage options like flood and earthquake protection.

Average Cost Of Renters Insurance In Nashville

In Nashville, the average cost of renters insurance is about $23 per month or $276 per year. However, your actual rate may differ based on factors such as coverage limits, location, deductible, and the insurer’s pricing structure. Below is a table showcasing the average rates from five top providers in the city.

Average Cost By Deductible

A deductible is an amount you’re responsible for paying before your renters insurance kicks in to cover a claim. Choosing a higher deductible can lower your monthly premium, while a lower deductible typically leads to higher monthly costs. The table below illustrates how renters insurance rates in Nashville change based on different deductible options.

Factors That Impact Renters Insurance Costs In Nashville

Several factors influence the cost of renters insurance in Nashville:

Deductible Amount: Choosing a higher deductible can reduce your monthly premium, while a lower deductible increases costs since the insurer takes on more risk.

Location: Insurance costs are often higher in areas with elevated crime rates or natural disaster risks, like hurricanes and floods in Nashville.

Home Safety Features: Installing security systems, smoke detectors, or sprinkler systems can reduce risks and may make you eligible for discounts.

Claim History: If you’ve filed multiple claims in the past, insurers may view you as a higher risk, leading to increased premiums.

Coverage Limits: Policies that provide higher protection levels, including add-ons like identity theft protection or replacement cost coverage, generally come with higher costs.

Credit Score: Many insurers factor in credit scores when determining rates, with lower scores typically resulting in higher premiums.

What Does Renters Insurance Cover In Nashville?

Renters insurance offers crucial financial protection by covering various risks. Here are the key coverages typically included in a policy:

Personal Property Protection

Covers belongings like furniture, electronics, and clothing against risks such as theft, fire, and some types of water damage (excluding floods).

Liability Coverage

Pays for legal fees and medical expenses if you’re responsible for injuring someone or causing damage to their property.

Medical Payments to Others

Provides limited coverage, usually between $1,000 and $2,000, for medical bills if a guest gets injured in your rental, regardless of who’s at fault.

Additional Living Expenses (ALE)

Helps cover temporary housing, food, and other necessary costs if your rental becomes unlivable due to a covered event.

What Does Renters Insurance Not Cover In Nashville?

While renters insurance offers important protection, it does have exclusions and limitations. Here are some common risks that standard policies typically don’t cover:

Flooding

Standard renters insurance doesn’t cover flood damage in Nashville. Since floods are common in the area, purchasing separate flood insurance is a smart idea. Some insurers, like State Farm, offer flood coverage add-ons.

Earthquakes

Renters insurance doesn’t include coverage for earthquake damage. If you want protection, you’ll need a separate earthquake insurance policy.

Roommate Property

Your policy only covers your belongings. Items owned by roommates or other individuals in your household won’t be covered.

Pest Infestations

Damage from bedbugs, termites, or rodents is considered a maintenance issue and isn’t covered.

Car Theft or Damage

Personal vehicles are not covered under renters insurance; you’ll need an auto insurance policy for protection.

Business-Related Losses

If you operate a business from your rental, standard renters insurance won’t cover business equipment or liabilities unless you add business-specific coverage.

Intentional Damage

Any damage caused on purpose by you or someone in your household is not covered.

High-Value Belongings Over Policy Limits

Expensive items like jewelry, artwork, or collectibles may exceed coverage limits. Adding a policy rider can provide extra protection.

How Much Should Students Pay For Renters Insurance In Nashville?

Students in Nashville can expect to pay between $15 and $25 per month for renters insurance, depending on their coverage needs. Several factors affect pricing, including location, the value of personal belongings, and optional policy add-ons.

Off-campus students typically face higher premiums due to larger living spaces and increased risk exposure. In contrast, those living in college dorms often pay less, as shared housing is generally cheaper to insure.

Before choosing a policy, students should assess the value of their belongings. While standard renters insurance covers most items, those with high-value electronics or expensive possessions may need extra coverage. Additionally, some insurers offer discounts for bundling renters and auto insurance, helping students reduce overall costs.

How Much Renters Insurance Do I Need In Nashville?

Choosing the right renters insurance in Nashville starts with evaluating the value of your personal belongings. Most policies provide coverage between $20,000 and $40,000, which suits many renters. However, if you own high-end electronics, expensive furniture, or valuable jewelry, additional coverage may be necessary.

Liability protection is another key factor. Standard policies typically offer $100,000 in liability coverage to help cover expenses if someone gets injured in your rental. Increasing this limit can provide extra financial security.

Consider your deductible, as it impacts both your premium and out-of-pocket costs when filing a claim. A higher deductible lowers monthly payments but increases the amount you must pay before your insurance kicks in.

Lastly, Additional Living Expenses (ALE) coverage is worth considering. This helps pay for temporary housing and essential costs if your rental becomes uninhabitable due to a covered event.

Can Landlords In Tennessee Require Renters Insurance?

In Tennessee, renters insurance is not legally required, but many landlords make it a lease condition. This arrangement benefits both tenants and landlords—tenants get coverage for their belongings, while landlords reduce their liability risks.

If renters insurance is a lease requirement, you may need to provide proof, such as a policy declaration page or certificate of insurance. Some landlords also impose minimum coverage limits, often requiring at least $100,000 in liability protection. Failing to meet these requirements could lead to penalties or even lease termination.

Even if it’s not mandatory, renters insurance is still a smart investment—especially in Nashville, where risks like tornadoes, hurricanes, and property crime are common. A policy helps protect your belongings and provides financial security in case of unexpected liability claims.

Bundle Renters With Auto Insurance

Bundling renters and auto insurance is a great way to save money, as many insurers offer discounts for combining policies. These discounts usually lower renters insurance premiums by 6% to 7% while fostering customer loyalty. State Farm offers some of the best rates in Nashville for bundling auto and renters insurance.

This option is especially beneficial for renters who already have auto insurance. Having both policies with the same provider simplifies account management, improves customer service, and provides benefits like flexible payment plans or higher coverage limits.

However, it’s important to shop around before bundling. While combining policies can reduce costs, make sure both policies offer the coverage you need at a competitive price.

Common Causes Of Loss In Tennessee

Renters in Tennessee frequently file claims for fire, theft, water damage, and hurricane-related losses. Understanding these risks can help tenants choose the right coverage to safeguard their belongings and finances.

Fire

Fires in multi-unit buildings can spread rapidly, leading to significant losses. Renters insurance helps cover the cost of replacing personal belongings damaged by fire.

Theft

With more than 30,000 property crimes reported annually in Nashville and over 170,000 across Tennessee, renters insurance is a valuable safeguard. Many policies also include liability coverage if someone is injured during a break-in, though damage to vehicles or the building itself may not be covered.

Hurricanes and Tornadoes

Tennessee is no stranger to severe storms. Most renters insurance policies cover damage caused by hurricanes and tornadoes, providing financial protection against these natural disasters.

Water Damage

Leaks from plumbing, burst pipes, or roof issues can lead to costly repairs. Standard renters insurance typically covers internal water damage, but flood-related losses often require a separate flood insurance policy.

Other Covered Losses

Renters insurance can also protect against vandalism, accidental damage, and some natural disasters, offering additional financial security.

By understanding these potential risks, renters can choose a policy that provides the best protection for their specific needs.