The Best Homeowners Insurance Companies and Cheapest Quotes in Tennessee for 2021

Home insurance can cover losses from storm damages, fires and even theft, but not all home insurance policies are the same. It’s important to comparison shop to find the right balance of price and protection. MoneyGeek studied Tennessee’s top insurance companies and scored them based on several factors, including affordability, to help you find the right policy no matter where you call home. MoneyGeek can help everybody, from homeowners with pools and high-value properties to those who have bad credit or are rebuilding credit.

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The 5 Best Homeowners Insurance Companies in Tennessee

If you want to find the best home insurance in Tennessee, you need to carefully look at many factors that can influence your overall experience and utility. Factors like your premium costs, coverage options, the ability of the company to pay claims and the customer service quality can all be important.

MoneyGeek has ranked the top five companies in the state so that you can easily find the best homeowners insurance in Tennessee. The companies have been ranked based on their average costs, and their ability to pay claims based on AM Best’s financial stability rating and J.D. Power’s customer satisfaction ratings.


1
USAA
Score:99

5/5

Affordability

5/5

User Satisfaction

5/5

Financial Stability

More About USAA

Affordable rates and great customer service set USAA apart. Homeowners can bundle identity protection with their policies and avail discounts on bundles. Claims can be made and viewed using their mobile app.

2
Allstate
Score:93

5/5

Affordability

4.2/5

User Satisfaction

4.5/5

Financial Stability

More About Allstate

With a large network of agents, Allstate can offer personalized services to customers in Tennessee. Standard coverage can include dwellings, personal liability, personal property and other structures. Discounts are on offer for safe homes and policy bundles. Technology features include a useful common and costly claims tool and the ability to pay bills and file claims using their mobile app.

Read MoneyGeek's Allstate home Insurance Review
3
Erie
Score:92

4.9/5

Affordability

4.3/5

User Satisfaction

4.5/5

Financial Stability

More About Erie

While operational in limited states, Erie offers excellent customer satisfaction. Coverage can include structures, liability and personal property with additional valuables, replacement costs, and identity fraud protection. Getting an advanced quote can bring a discount. Many pre-set packages and detailed customization options are available. Claims can be made online and are handled by a direct representative.

Read MoneyGeek's Erie home Insurance Review
4
State Farm
Score:92

4.7/5

Affordability

4.1/5

User Satisfaction

5/5

Financial Stability

More About State Farm

State Farm has a wide range of plans covering dwellings, personal property, liability and medical payments for guests. Safety upgrades and energy efficiency upgrades can also be covered. There is a detailed online quote system and you can make claims using the mobile app.

Read MoneyGeek's State Farm home Insurance Review
5
Auto-Owners Insurance Co
Score:77

3/5

Affordability

4.5/5

User Satisfaction

5/5

Financial Stability

More About Auto-Owners Insurance Co

Auto-Owners boasts of excellent customer service thanks to their large network of agents and their penchant for a personal touch in their dealings. Transactions can be done directly through a personal agent in the area. They offer discounts for seniors, new homes and fully paid premiums. The basic website provides relevant information about their products and services.

What Is the Average Cost of Homeowners Insurance in Tennessee?

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home insurance is equal to the average.

For home insurance in Tennessee, the average cost comes out to about $3.466 per year for a baseline dwelling coverage amount of $250,000. When compared with the national average, this is approximately $1,363 or 64.8% more expensive on average. The final rates for individual customers are calculated based on their risk profiles.

Home Insurance Calculator: Estimate the Cost of Homeowners Insurance in Tennessee

Your homeowners insurance cost can also depend on your current situation and factors relevant to where you live. For example, carriers might consider factors like the age of your dwelling, roof quality and proximity to the nearest fire station while determining your costs.

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Home Insurance Calculator

State

Tennessee

Dwelling Coverage

$250,000

Deductible

$500

Liability

$300,000

Personal Property

$50,000

Credit Score

Excellent
moneygeek-logo

low end

on average

high end

These are annual estimates. Get a personalized quote to determine your costs.

The Cheapest Homeowners Insurance Quotes in Tennessee

For cheap home insurance in Tennessee, your best option might be Allstate. For a baseline dwelling coverage value of $250,000, an Allstate policy can cost you about $1,776 per year. This comes at around $1,690 or 48.8% cheaper than the state average. The dwelling coverage helps you recover any financial liability related to rebuilding or repairing your home if it gets damaged by any specific circumstances like theft, hurricanes or floods. To find the best fit for your needs, compare home insurance quotes from different providers.

Cheapest Homeowners Insurance by Dwelling Coverage

Dwelling Coverage:

$250,000

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Best Cheap Homeowners Insurance Companies for Expensive Homes

For expensive homes in Tennessee, the appropriate coverage level can certainly make sense for better financial security. For a $2 million home, the cheapest policy might be one from USAA at an average cost of $8,668 per year. The second most affordable can be Allstate, with an average annual premium of $9,765. Policies from other providers can cost a whopping ten times as much in some cases.

Cheapest Homeowners Insurance Companies for High-Value Homes

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Best Homeowners Insurance Companies if You Have a Pool

If your home in Tennessee has a pool, you might need to increase your insurance coverage accordingly. This necessity can also mean an increase in premium costs. In Tennessee, the most affordable option can be Allstate with an average annual cost of $1,812 for an average property value of $250,000.

Cheapest Homeowners Insurance for Pool Home

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Cheapest Home Insurance in Tennessee if You Have Poor Credit

Insurance providers tend to look at credit scores of potential customers while determining personalized quotes. Having poor credit might mean more expensive insurance premiums. If you have poor credit in Tennessee, the most affordable home insurance might be from USAA which comes at an average cost of $3,947 a year. The second most affordable would be Allstate with an average annual cost of $4,293 for a dwelling coverage baseline amount of $250,000.

Cheapest Homeowners Insurance for Poor Credit

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How to Get Homeowners Insurance Quotes in Tennessee

To get a personalized quote, you need to provide details like your name, address and social security number to your insurance provider. The provider might also require details like your home’s age and value, the security measures you have installed, details about addons like pools and solar installations and a list of valuables in the home. You also need to mention the level of coverage you are seeking. With these details, providers can develop personalized quotes that you can then compare and choose from.

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Other Considerations for Homeowners Insurance in Tennessee

Home insurance rates in Tennessee can also be influenced by home values, crime rates and the likelihood of natural disasters. For example, a 2018 FBI study has Tennessee ranked 11th in the country in terms of property crime rate per 100,000, with 42,226 violent crimes and 191,279 property crimes.Tennessee ranks 36th in the nation with a typical average cost of $185,922 per home.

Emergency preparedness can be a good idea in Tennessee, especially if you consider the possible effects of hazardous weather on your home. You can include coverage for natural disasters in your home insurance policy for better peace of mind.

Methodology

MoneyGeek analyzed homeowners insurance premiums from 16 of the top insurance companies in Tennessee that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Tennessee. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.

About the Author


expert-profile

The MoneyGeek editorial team has decades of combined experience in writing and publishing information about how people should manage money and credit. Our editors have worked with numerous publications including The Washington Post, The Daily Business Review, HealthDay, and Time, Inc., and have won numerous journalism awards. Our talented team of contributing writers includes mortgage experts, veteran financial reporters, and award-winning journalists. Learn more about the MoneyGeek team.


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