Best Homeowners Insurance In Tennessee To Cover Your Home (Rates From $145/month!)
How Much Is Home Insurance In Tennessee?
Based on our research, the average cost of homeowners insurance in Tennessee is $100 per month or $1,200 per year as of 2021. Tennessee homeowners insurance is more affordable than the annual U.S. average of $1,595 by $395.00 per year based on home-dwelling coverage limits between $200,000 and $250,000.
Who Is The Cheapest Homeowners Insurance Company In Tennessee?
Hippo has some of the best cheap home insurance rates in Tennessee, and they offer one of the easiest and fastest ways to get home insurance coverage online in minutes.
In fact, one of our customers left them the below review:
“I saved $400 on homeowners insurance. I cannot believe I saved $400 on homeowners insurance. I am so glad I didn’t give up on my search!”
Hippo has homeowners insurance for all types of homes, condos, and apartment buildings (Landlord Insurance) in Tennessee which also makes them one of the top insurance providers. They also have extensive home insurance coverage options.
However, homeowners in Tennessee should compare rates and policies with multiple companies to ensure they get the best deal for themselves.
Home Insurance Quotes In Tennessee By Coverage Amount
As you can see, the average monthly home insurance premiums on a $100,000 home will run you around $78.00 per month, and coverage on a $400,000 home in Tennessee will run you about $212.00 per month.
Tennessee Home Insurance Rates By City
Johnson City has the most affordable Tennessee homeowners insurance rates at an average annual premium of $983 per year or $82 per month. Tennessee’s most expensive home insurance rate goes to Jackson, with an average yearly price of $1,435 or $120 per month.
5 Most Affordable Cities In TN For Home Insurance
5 Most Expensive Cities In TN For Home Insurance
What Factors Help Determine Your TN Home Insurance Rates?
The cost of homeowners insurance in Tennessee will vary depending on several factors such as:
Other items that help determine your Tennessee home insurance rates are:
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What Does Homeowners Insurance Cover In Tennessee?
Home insurance covers your personal property and liability if you are legally liable for any injuries or damages caused to someone else. Below we go over each area of coverage in more detail.
Dwelling Coverage
This type of coverage is used to repair or rebuild your home when damage from a covered loss to the physical structure of your home happens. You should always base the cost to rebuild your home if you purchase dwelling coverage. This way, if the price goes up based on third-party situations, you will be covered.
Other Structures Coverage
This is coverage for damage to detached structures that are still a part of your property such as gates, a dog house, or fence. It’s best to make sure you know how the homeowners insurance Tennessee coverage levels will work for other structures especially when you start dealing with things like hurricane damage.
Personal Property Coverage
Personal property coverage can cover you if personal items in your home are damaged, stolen, or destroyed like furniture and clothes. This coverage will not, however, cover your car or motorcycle, you will need to reach out to your auto insurance or car insurance company for that coverage.
Loss Of Use (also called Additional Living Expenses – ALE)
Loss of use coverage means that if something happens to your home and cannot live there because of the damage, your insurance company will reimburse your living costs.
Personal Liability Coverage
Personal Liability Protection coverage is going to kick in if you or your household are personally responsible for causing bodily harm or property damage to others.
Actual Cash Value Vs. Replacement Cost
One of the most confusing aspects of purchasing homeowners insurance is the differences between replacement cost coverage and actual cash value coverage.
Replacement Cost homeowners insurance will pay you the cost of replacing your belongings, whereas actual cash value homeowners insurance pays what they are worth at a specific time
There are typically two significant distinctions between these policies:
It’s always best to go with a policy that has the replacement cost benefit because it will give you maximum protection. You should ask your insurance company which type of coverage is offered under their policy and the different costs.
What Items Will Homeowners Insurance Cover In Tennessee?
In Tennessee, homeowners insurance covers your physical home, such as your roof or structural damage. It also covers things attached to your physical home (dog house), everything you own that’s portable, temporary housing if your home becomes uninhabitable, and injuries sustained by other people at your home.
What Type Of Damage Do Home Insurance Companies Cover In Tennessee?
The types of damage that a homeowners insurance policy would cover in Tennessee are:
Does Homeowners Insurance Cover Floods In TN?
Homeowners policies rarely include Flood coverage, but it is a must for some homeowners. Flood coverage differs from Homeowners insurance because most Homeowners policies specifically exclude water damage that results from rising water.
If your policy doesn’t cover floods you can purchase flood insurance or go through the national flood insurance program (Flood Smart).
For those who speak insurance lingo, “rising” water distinguishes flood damage from regular flooded house repair needs.
How Much Is Flood Insurance In Tennessee?
The average cost of flood insurance is about $700 per year or $58.00 per month, according to Neptune Flood, but the price varies depending on several factors including your geographical area and how much coverage you are looking for. Floods from a high-risk area may even exceed the entire value of your home.
What Does Homeowners Insurance Not Cover In Tennessee?
Tennessee homeowners insurance offers comprehensive coverage, but there are a few things your home insurance policy won’t cover that you should take into account before purchasing a policy.
It’s important to know what your policy won’t cover before you make a purchase decision. Call an agent or the company if there are any unclear questions.
Is Homeowners Insurance Required By Law In Tennessee?
Although Tennessee has no laws that require homeowners to buy insurance, the smartest thing you can do for your home is get a policy.
Your home purchase will be one of the most significant investments you will make, so not covering it with insurance would be a huge mistake.
Also, keep in mind that just because it isn’t required by law, it doesn’t mean your mortgage lender or condo association won’t need it.
Can A Mortgage Lender Require Home Insurance Coverage In Tennessee?
Yes, before you can officially buy your home, your mortgage lender will require that you purchase homeowners insurance.
Once you pick the insurance company that you think would be best to cover your newly bought home, they’ll tell you your premium, and you’ll set your coverage to begin on the day of your closing.
Your lender will want you to have homeowners insurance lined up and ready to go before you come to the closing.
Survival Guide To Tennessee Homeowners Insurance
It’s crucial to have a plan when it comes to your homeowner’s insurance, which is why we’ve put together a survival guide. We cover some of the common causes of loss, an inventory checklist, and information for your department of insurance.
Tennessee Common Causes Of Loss
There are specific claims that you expect in a Tennessee homeowner’s policy, but some may surprise you.
Home damage from nature is one of the unavoidable casualties to homeowners, and it’s just another reason why home insurance is essential protection for your family.
Wind and hail damage takes the top spot nationally regarding the most significant source of claims cost.
Covered perils that are the most common on a Tennessee homeowners policy are:
Make sure to carefully read your policy to understand its wind and hail coverage. If you live near the coast, it may be excluded or have a higher deductible. Make sure to purchase additional coverage if needed.
If you have any questions about your policy, you should contact your licensed agent or the insurance company directly.
Your Inventory Household Checklist
Taking inventory of your household items is essential when trying to determine how much coverage you will need.
You can use this nifty Home Inventory Checklist to go room by room and record each item along with the price and purchase date.
A list like this is important when it comes to filing figuring out what has been lost and especially for filing a claim.
Remember that number six on the list of home insurance claims is Theft, so make sure you have an itemized list of your personal items.
Contacting The Tennessee Department Of Insurance
The best way to contact the Tennessee Department of insurance is by phone at: (615) 741-2218 or toll-free at (800) 342-4029
You can reach the Tennessee Department of Insurance at the below mailing address:
TN Department of Insurance
Insurance Division
500 James Robertson Parkway
Nashville, TN 37243
For more information about the Tennessee Department of Insurance, you can visit their website at: https://www.tn.gov/commerce/insurance-division.html
Home Insurance made easy.
Agents not required.
Get quotes and sign up online without talking to an agent. But, we are here if you need us.
Unbiased, expert advice.
Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.
Coverage in minutes.
You can get home insurance coverage within minutes of getting your quotes and applying.
How To Find The Cheapest Home Insurance In Tennessee?
Applying for homeowners insurance in Tennessee is easy and can take just a few minutes. The best way to get quotes and apply for coverage is online because most companies have a free online process that will deliver a quote within seconds or minutes. However, you can still reach out to a licensed insurance agent if you need assistance.
1
Get Your Personal Information Together. You will need your name, address, and Social Security number. The online forms guide you through several questions to learn more about the rental you will be living in and what coverage you need.
2
View Your Instant Quote. Once you have your info, you want to click here or any of the above buttons to start the quote process. Once you have your quotes and pick the coverage option that works best for you, it’s time to get covered.
3
Start Your Online Application. Once you have all of your personal information together, your next step will be to start the application. Again, this will be easy by just following the prompts after you complete your quote.
4
Pay For Your Policy & Print Your Proof Of Insurance. Once your policy has been approved and paid for, simply print out your proof of insurance, and you’re covered.
Taking Action
With Simply Insurance, you can find the best homeowners insurance company in Tennessee and purchase coverage through our site.
All you have to do is click here to get some instant quotes and get covered today.
Whether you’re looking for cheap rates or something more specialized like wind damage protection, we have an option that will work perfectly for you!
Frequently Asked Questions
How much is home insurance a month in Tennessee?
The average cost across Tennessee for homeowner’s insurance was $100.00 per month. However, your final costs will depend on various factors including the type of home you live in, the coverage amount you choose, and what deductible you pick.
Who has the best homeowners insurance in Tennessee?
Hippo has the best homeowners insurance in the state of Tennessee because they provide homeowners insurance at some of the lowest rates, and they also offer homeowners’ an easy way to get a quick quote and apply online fast. On average customers have seen up to a 25% savings when purchasing through Hippo.
Who has the cheapest homeowners insurance in Tennessee?
This is going to depend on your needs, the company that will have the cheapest insurance in Tennessee for you will depend on a number of factors that relate to your home, including the value of your home, the area you live in, what type of home you live in and what type of coverage you select. Your deductibles and coverage limits will make up a portion of the cost.
How much is homeowners insurance on a $200000 house in TN?
The average cost of homeowners insurance on a $200,000 home in Tennessee is about $122.00 per month, but you will need to compare homeowners’ insurance quotes as prices will vary depending on the city or even county that you live in.
