Insurance
Tennessee Home Insurance Calculator: Free Cost Estimator (2024)
Updated: May 22, 2024
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MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
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Rates updated:
Jul 26, 2024
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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
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.
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.
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.
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.
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.
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.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
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
| $100,000 | Average Annual Premium$3,992 |
| $250,000 | Average Annual Premium$4,532 |
| $500,000 | Average Annual Premium$10,570 |
| $750,000 | Average Annual Premium$16,028 |
| $1,000,000 | Average Annual Premium$24,125 |
| $2,000,000 | Average Annual Premium$55,343 |
| $3,000,000 | Average Annual Premium$85,251 |
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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
| Chattanooga | Average Annual Premium ($100K Dwelling Coverage)$5,335 | Average Annual Premium ($250K Dwelling Coverage)$8,541 |
| Hendersonville | Average Annual Premium ($100K Dwelling Coverage)$4,882 | Average Annual Premium ($250K Dwelling Coverage)$7,883 |
| Knoxville | Average Annual Premium ($100K Dwelling Coverage)$4,421 | Average Annual Premium ($250K Dwelling Coverage)$7,242 |
| Memphis | Average Annual Premium ($100K Dwelling Coverage)$3,860 | Average Annual Premium ($250K Dwelling Coverage)$4,469 |
| Nashville | Average Annual Premium ($100K Dwelling Coverage)$3,016 | Average Annual Premium ($250K Dwelling Coverage)$3,465 |
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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.
How much does homeowners insurance cost in Tennessee?
Among the states with the highest premiums for homeowners insurance is Tennessee. Tennessee's typical homeowner may expect to pay about $4,532 per year for $250K in dwelling coverage, which is an increase of 88% above the national average.
How do I know how much dwelling coverage to get?
The minimal amount of dwelling coverage necessary in Tennessee is $100,000. To determine the right amount for you, you must first assess the cost of reconstructing your home. It is necessary to ascertain the current expenses of labor, resources and construction. An appraiser or your real estate company should be able to help you with this.
Insurance
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 Mark Fitzpatrick
Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.