Tennessee Homeowners Insurance Calculator: Estimate Your Policy Cost

Location has a huge impact on the price of home insurance. Tennessee is one of the most expensive states for homeowners insurance, with an average annual cost of $4,532 for $250,000 in dwelling coverage, 88% higher than the national average.

MoneyGeek’s Tennessee homeowners insurance calculator is a helpful tool to instantly estimate potential costs when considering insurance for a house that you currently own or one that you hope to buy.

Advertising & Editorial DisclosureLast Updated: 12/7/2022
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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
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on average

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

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MONEYGEEK EXPERT TIP

If you're seeking affordable Tennessee homeowners insurance, MoneyGeek evaluated prices from a range of providers. Allstate is the cheapest option in the state.

MoneyGeek also researched the top homeowners insurance companies in Tennessee if you're trying to strike a balance between value and affordability. We researched costs from many companies to help you select the one that most closely fits your profile.

How to Estimate the Cost of Your Homeowners Insurance Policy in Tennessee

Tennessee homeowners insurance rates vary depending on a number of variables, including your location, deductible, credit score and more. By entering your specific details into MoneyGeek's Tennessee home insurance calculator, you can get a tailored estimate of the cost of your homeowners insurance policy.

  • tennessee icon

    Tennessee

    Your homeowners insurance rates in Tennessee will vary based on where you live. If you live in a location where fraud, natural disasters and fires are more likely, your premium will likely be higher than someone who resides in a state with lesser risks.

    You may also have higher rates if you live in an area where crimes and theft are prevalent.

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    Dwelling Coverage

    The dwelling coverage for your home accounts for the full cost of reconstruction. Depending on the amount of dwelling coverage you include in your policy, the price of homeowners insurance may change.

    In Tennessee, $250,000 is the average amount for dwelling coverage.

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    Deductible

    Your deductible is the amount of money you pay out of pocket before your insurer starts to reimburse your expenses.

    For example, if your insurance has a $500 deductible and your claim is worth $10,000, you will only receive $9,500.

    If you want lower premiums, opt for a higher deductible. However, be prepared to pay more out of pocket if you file a claim.

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    Liability

    Legal bills, replacement costs, health bills, pain and suffering charges and death benefits are all covered under liability coverage for damages to third parties and their property that happen on your property as a result of your negligence.

    MoneyGeek suggests purchasing sufficient liability insurance to cover all of your assets. Liability insurance has a yearly premium of just a few dollars for coverage that amounts to hundreds of thousands of dollars.

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    Personal Property

    Personal property insurance covers everything you own besides your home, including your clothes, electronics, furniture and other valuables.

    It's essential to provide your belongings with adequate protection. Use the calculator below to calculate how much personal property insurance you require.

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    Credit Score

    Insurance providers evaluate your credit score when calculating your Tennessee home insurance prices. Homeowners with lower credit ratings are seen as riskier by insurers since they are more likely to file a claim.

    Tennessee homeowners insurance will cost more if you have bad credit.

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Insurance Rates

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Average Cost of Home Insurance in Tennessee

Tennessee is one of the states with the highest premiums for homeowners insurance. The average homeowner in Tennessee may pay around $4,532 a year for $250K in dwelling coverage, an increase of 88% over the national average.

If you require more or less dwelling coverage, you can check the table below, which displays the typical cost per level of coverage in Tennessee.

Average Annual Premium in Tennessee for Homeowners Insurance

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  • Dwelling Coverage Amount
    Average Annual Premium
  • $100,000
    $3,992
  • $250,000
    $4,532
  • $500,000
    $10,570
  • $750,000
    $16,028
  • $1,000,000
    $24,125
  • $2,000,000
    $55,343
  • $3,000,000
    $85,251
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MONEYGEEK EXPERT TIP

The ideal amount of homeowners insurance should cover the expense of reconstructing your property. When buying homeowners insurance, it's crucial to consider how much dwelling coverage you need.

The final replacement cost of your home can be influenced by a number of factors, including height, floor space, building supplies and more. An appraiser can provide assistance in estimating potential reconstruction costs.

Remember that your coverage should be able to handle the cost of rebuilding your home. Also, consider extended and guaranteed replacement coverage as well as inflation guard coverage for additional protection.

Average Cost of Home Insurance in Tennessee Cities

Based on where you live, the price of homeowners insurance in Tennessee may vary greatly. You can see how much premiums can vary by city by looking at the MoneyGeek table below, which displays the rates for several cities in Tennessee.

Average Annual Premium in Tennessee Cities for Homeowners Insurance

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  • City
    Average Annual Premium ($100K Dwelling Coverage)
    Average Annual Premium ($250K Dwelling Coverage)
  • Chattanooga
    $5,335
    $8,541
  • Hendersonville
    $4,882
    $7,883
  • Knoxville
    $4,421
    $7,242
  • Memphis
    $3,860
    $4,469
  • Nashville
    $3,016
    $3,465
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MONEYGEEK EXPERT TIP

The best homeowners insurance in the country for people not concerned with the price is provided by Allstate, according to MoneyGeek's research.

Look for a company that balances affordability and excellence if you want to discover the best homeowners insurance provider. MoneyGeek provides a thorough analysis of the top homeowners insurance companies in response to your needs.

Frequently Asked Questions About Home Insurance in Tennessee

Homeowners insurance rates in Tennessee might vary based on your personal profile, your home and your insurance provider. MoneyGeek answered frequently asked questions about homeowners insurance in the state to assist you while you shop.

Methodology

To determine the average cost of homeowners insurance in Tennessee, MoneyGeek sourced pricing data from Quadrant Information Services.

MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance. This standard home profile consists of the following attributes:

  • Construction year: 2000
  • Construction type: Frame
  • Composition roof
  • Three-mile radius from the fire department
  • Assumed value of other structures on the property: 10% of the dwelling coverage
  • Personal property coverage: 40% of the dwelling coverage
  • Liability limit: $100,000
  • Deductible: $1,000

About the Author


Mark Fitzpatrick headshot

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.