The Best Homeowners Insurance Companies in Tennessee (2022)
When you are looking for the best home insurance companies in Tennessee, be sure to consider customer service quality, claims experience, affordability and financial stability. Based on these factors, MoneyGeek found that State Farm is the best overall home insurance company in the state. However, the best option for you will depend on your specific needs.
MoneyGeek’s scoring system identified the best home insurance providers in Tennessee for various types of homeowners. We also reviewed the available coverages and discounts.
State Farm offers the best home insurance in Tennessee overall, as well as for expensive homes and bundling. Allstate is the ideal provider for homeowners on a budget, Auto-Owners Insurance Co is best for service quality and USAA is the top choice for military families.
If you’re more concerned with savings than service quality, MoneyGeek also analyzed the cheapest home insurance companies in Tennessee.
The Best Homeowners Insurance in Tennessee
The Best Overall Homeowners Insurance Companies in Tennessee
Generally, the best home insurance providers combine great customer service, affordability, claims reputation and financial stability. MoneyGeek analyzed the top insurance providers in the state based on these factors to help you find the best-rated home insurance companies.
According to our research, the best home insurance companies in Tennessee are:
- State Farm: MoneyGeek score of 87 out of 100
- Allstate: MoneyGeek score of 87 out of 100
While USAA received the highest overall score of 100 out of 100, it was excluded from our analysis since its policies are only available to military families.
To determine what makes State Farm and Allstate the top providers in Tennessee, MoneyGeek broke down the unique coverages and discounts they offer.
The Top Home Insurance Companies in Tennessee
Allstate scored highest on affordability and second-highest on financial stability, but the quality of its customer service needs improvement. Its policies cost an average of $1,776 per year. Allstate offers several unique coverages, such as an energy efficiency upgrade.
There are several unique coverage options for homeowners who use Allstate. The energy efficiency upgrade is a rare coverage option that pays for the replacement of damaged items with energy-efficient models. Its HostAdvantage® Home Sharing Insurance option is perfect for those who rent out their homes since it provides additional protection for personal belongings. They also have yard and garden coverages that pay for damages to landscaping.
State Farm ranked first in stability, third in affordability and second in satisfaction. Its policies cost an average of $2,360 per year, and it offers several unique coverages, such as mold coverage.
State Farm’s unique coverage offerings make it an ideal option for homeowners who want to customize their policies. Its mold coverage provides up to $20,000 in coverage to protect homes from fungus and mold. It also offers vacancy coverage. This coverage protects homeowners against vandalism and glass breakage if their home has been unoccupied for more than 30 days.
To find the best home insurance nationally and in Tennessee, MoneyGeek collected quotes from across the country and balanced them against property claims rating and customer satisfaction scores from J.D. Power.
Keep in mind that your actual costs and customer experience may vary depending on your circumstances. Read MoneyGeek’s methodology for more information.
The Best Homeowners Companies in Tennessee for Service Quality
For homeowners who value service quality and are not concerned about price, MoneyGeek scored the best home insurance companies in Tennessee based entirely on customer satisfaction and claims experience.
The top providers in Tennessee based on service quality are:
- Auto-Owners Insurance Co: MoneyGeek score of 89 out of 100
- State Farm: MoneyGeek score of 81 out of 100
USAA got a perfect score out of 100, making it the best in the state for service quality. However, we excluded it from our rankings since its policies are only available for active or retired military members and their families.
MoneyGeek broke down why Auto-Owners Insurance Co and State Farm are the top insurers for homeowners who want the best possible service experience regardless of rates.
The Top Home Insurance Companies in Tennessee for Quality Service
State Farm scored highly on customer satisfaction but received a relatively low claims rating. They provide customers with a solid service experience if they make a claim.
State Farm has unique options if you are looking for additional coverage. Members of homeowners associations (HOAs) can get loss assessment coverage. This provides protection for a portion of a covered loss that the HOA assesses to all its members. Fungus and mold coverage are also included up to $20,000.
Auto-Owners Insurance Co received a high claims rating score but ranked lower on customer satisfaction. The provider offers customers a great service experience when they file a claim.
Auto-Owners Insurance Co has several unique coverage options. One of its rare coverages is the specialty vehicle coverage that protects homeowners’ boats, ATVs and off-road vehicles in addition to the home. It is also the only insurer that provides off-premises personal property coverage, which pays for damages to personal property that you take with you on vacation.
The Best Homeowners Companies in Tennessee on a Budget
Homeowners who want to save money should consider affordable options for their home insurance. There are substantial savings to be had while still getting stellar customer service.
For those with a tight budget, the best-rated home insurance companies in Tennessee are:
- Allstate: MoneyGeek score of 93 out of 100
- State Farm: MoneyGeek score of 91 out of 100
Although USAA ranked first in terms of affordability, it was excluded from our analysis because its policies are exclusively available to military families.
A typical policy at Allstate costs around $1,776 per year, while a similar one from State Farm costs roughly $2,360 per year. To understand why Allstate ranked the highest on affordability, MoneyGeek broke down its unique coverages and discounts.
The Top Home Insurance Companies in Tennessee on a Budget
Offers affordable home insurance coverage at roughly $1,776 per year on average
Discounts for homes with theft or fire protection devices, bundling insurance policies and being claims-free
Does not offer discounts for newly renovated homes
MoneyGeek satisfaction rating of 3.96 out of 5
Allstate ranked the highest in terms of affordability in Tennessee. The company received a MoneyGeek score of 93 out of 100.
Allstate policyholders have various opportunities for discounts. For instance, you can save money by bundling your home and auto insurance policies. You can also save on your premium by switching to Allstate without any recent claims. If you remain claims-free for five years, you will be eligible for the claim-free bonus, which entitles you to a 5% rebate on your renewal fees every year you don’t make a claim. Policyholders with homes that are equipped with theft or fire protection devices can also get a discount from Allstate.
Allstate even offers rare discounts. For example policyholders who pay on time, have set up automatic payments and sign up for a new policy at least seven days before the expiration of the current one are given additional discounts. Allstate also has a claim rateguard. This is a claims forgiveness policy feature that guarantees that your premium won’t increase just because you file a claim.
The Best Homeowners Companies in Tennessee for Expensive Homes
Homeowners may qualify for high-value home insurance if their home is more expensive MoneyGeek scored the best home insurance companies in Tennessee if you have an expensive home that could cost a lot of money to rebuild in case of damage or total loss.
We weighed the cost of insuring a home that would cost $2 million to replace against customer satisfaction to come up with the top-rated companies in Tennessee.
The top insurers for expensive homes in the state include:
- State Farm: MoneyGeek score of 85 out of 100
- Erie: MoneyGeek score of 84 out of 100
While USAA received a perfect score in this category, it was excluded from our rankings since it’s only available to military families.
MoneyGeek evaluated why State Farm scored the highest for expensive homes by looking at its unique coverage options that cater to homeowners who need a lot of coverage.
The Top Home Insurance Companies in Tennessee for High-Value Homes
MoneyGeek satisfaction rating of 4.09 out of 5
Ranks third in terms of affordability
Does not offer coverages for contents replacement cost and extended reimbursement
State Farm received a high customer satisfaction rating and offers affordable policies for expensive homes. The company also offers coverages that cater specifically to the needs of high-value homeowners.
These include scheduled personal property coverage, which ensures the full coverage of the homeowner’s valuables, and cyber event / ID theft, which protects policyholders whose identities are used in fraudulent activities.
The Best Homeowners Companies in Tennessee for Veterans
Military families have many options when it comes to insurers offering veteran discounts. However, the best choice for them is USAA.
USAA received a perfect MoneyGeek score in Tennessee and has perfect ratings on both customer satisfaction and financial stability, as well as a near-perfect rating on affordability. The company is the highest-rated insurer in the state. Another benefit is that USAA tailors its service to current and former military personnel and their families.
The average annual premium of USAA policies in Tennessee is $1,896.
The Top Home Insurance Companies in Tennessee for Veterans
Coverage tailored to military families
Customer satisfaction rating of 5 out of 5
MoneyGeek affordability score of 4.95 out of 5
Not available if you don’t have a military background
USAA is the top home insurance provider for veterans. It is the highest-rated insurer in Tennessee, getting a perfect MoneyGeek score for customer satisfaction and a near-perfect MoneyGeek score for affordability.
One of its policy coverages is contents replacement cost coverage, which covers the cost of replacing your personal property if it is damaged or destroyed by a qualifying loss. Contents replacement coverage doesn’t factor in depreciation. USAA also offers significant discounts for bundling home and car insurance policies and for being claims-free for five or more years. Homes installed with protective devices, such as home security systems and water sensors, are eligible for extra discounts. Their bundles also cover unique coverages and discounts, such as accident forgiveness and rideshare insurance.
The Best Homeowners Companies in Tennessee for Bundling
One of the best ways to get discounts is by bundling home and auto insurance policies. If you are also looking for the best car insurance in Tennessee, MoneyGeek rated the best auto and home insurance bundles that are available to you.
The two top-rated insurers offering bundles in Tennessee are:
- State Farm: MoneyGeek score of 86 out of 100
- Allstate: MoneyGeek score of 75 out of 100
Combining your policies with one provider can help you save money by giving you access to extra discounts. It will also be easier and more convenient for you to manage multiple policies if they are from the same company.
The Top Home Insurance Companies in Tennessee for Bundling
Home MoneyGeek score of 4.33 out of 5
29% bundling discount
Auto MoneyGeek score of 3.96 out of 5
Although State Farm only has a 3.96 rating out of 5 for auto insurance, the company’s home insurance score is 4.33 out of 5. You can get an additional 29% discount by bundling your home and auto insurance policies.
State Farm has unique coverages for homeowners who purchase their home and car insurance bundling options. For instance, homes installed with qualifying impact-resistant roofing products may qualify for significant discounts. These roofing materials are designed to minimize damage during severe weather events and can extend the life of your roof.
State Farm’s insurance policy bundles also have rideshare insurance coverage. This makes sure that the medical, emergency roadside assistance and rental car reimbursement included in your personal auto policy remains in effect even when you are working for a rideshare company.
How to Find the Best Home Insurance in Tennessee
When looking for homeowners insurance options, it is important to balance cost, service reputation and financial stability. MoneyGeek collected this information for you and listed the best-rated home insurance companies in Tennessee. Alternatively, you may go through the process yourself if you want to find the right insurer for your needs.
Research Customer Service Reputations in Tennessee
Looking up the customer service reputation of insurers in Tennessee can be a long and tedious process, so MoneyGeek did the work for you. However, if you are interested in reviewing a particular insurance company, you may evaluate its J.D. Power satisfaction scores and NAIC ratios in your state. You can also visit the Tennessee Department of Commerce & Insurance website for more information.
Compare Quotes for Yourself
MoneyGeek collected home insurance quotes to get the average rates for sample homeowners in Tennessee. These rates may not be applicable in other states or in your particular situation. We recommend that you compare quotes from at least three insurers to get a good idea of how much your insurance premiums might cost.
Make Sure the Company Has Coverages You Want in Tennessee
Although insurers may advertise that they offer certain coverages or discounts, these might not be available in every state. It is important to confirm directly with insurance companies whether they can provide exactly what you are looking for.
Double-Check Financial Stability Ratings
Check the financial stability ratings of your preferred insurer before buying a policy. This will tell you whether the company has sufficient assets to pay for any claims that you make. Larger insurance companies tend to be financially stronger, while regional insurance companies in Tennessee may have lower ratings.
FAQs About the Best Home Insurance in Tennessee
The best home insurance in Tennessee for you will depend on your specific needs and circumstances. Here are answers to some of the most common questions to help you get started.
MoneyGeek scores for homeowners insurance in Tennessee were calculated by using a scaled and weighted average of J.D. Power Property Claims and Customer Satisfaction Scores, real homeowners insurance quotes and financial stability ratings from A.M. Best. Our scoring system weighted J.D. Power scores 60%, affordability 30% and financial stability 10%, adjusting weightings in the sections focused on affordability and service experience specifically.
MoneyGeek analyzed homeowners insurance quotes from 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.
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