State Farm, Erie and Shelter offer the cheapest renters insurance in Tennessee. State Farm ranks highest for affordable rates. Erie has the best customer reputation, while State Farm and Shelter provide the best coverage options.
Cheap Renters Insurance in Tennessee
Updated: November 27, 2025
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Key Takeaways
State Farm leads Tennessee's renters insurance market with the cheapest coverage at $264 a year, ranking best overall.
Tennessee renters insurance costs about $24 monthly, with rates ranging from $22 to $40.
To find affordable renters insurance, determine your needs first, research costs and compare multiple quotes.
Best Cheap Renters Insurance Companies in Tennessee
| State Farm | 90 | $22 | $264 |
| Erie | 89 | $43 | $515 |
| Farmers | 81 | $40 | $483 |
| Westfield | 80 | $28 | $338 |
| Shelter | 78 | $39 | $468 |
*Rates based on good credit, no claims history, $50K property damage, $100K liability coverage, $1,000 deductible and guaranteed replacement.
Before signing a lease in Tennessee, use our renters insurance calculator to verify your coverage protects against the state's frequent thunderstorms, tornadoes and occasional flooding.
Tennessee Renters Insurance Quote Estimates
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Rates updated:
Dec 02, 2025
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Compare Personalized Best Cheap Renters Insurance in Tennessee
Our list covers most renters, but your ideal options may differ. Use this filterable table to find the best option for your profile in Tennessee.
Data filtered by:
$50K Personal Property / $100K Liability
Select
Claim free for 5+ years
Yes
Good
| State Farm | 90 | $15 | $174 |
| Erie | 88 | $20 | $240 |
| Auto-Owners | 85 | $19 | $230 |
| Shelter | 78 | $18 | $221 |
| Westfield | 74 | $22 | $260 |
Best Tennessee Renters Insurance Review
The section below details our top pick for affordability, customer service and coverage options for Tennessee renters insurance.
State Farm: Best Cheap Overall
pros
Lowest rates for most renters
Most flexible coverage selections
High customer satisfaction ratings
cons
Add-on coverages are standard
COMPANY HIGHLIGHTS
State Farm offers affordable rates, customer service and coverage options for Tennessee renters. Its rates average 46% below the state average. It ranks fourth nationally in customer satisfaction.
Average Cost of Renters Insurance in Tennessee
The average cost of renters insurance in Tennessee is $287 a year, $45 higher than the national average of $242. These rates are for a policy with $50K personal property coverage, $100K liability limits and a $1,000 deductible.
Data filtered by:
$50K Personal Property / $100K Liability
Select
Claim free for 5+ years
Good
Covered
| $50K Personal Property / $100K Liability | $24 | $287 |
Average Tennessee Renters Insurance Cost by City
Renters insurance costs vary by city. The average annual premium in Chattanooga is $256; in Memphis, it's $287 for a policy with $50K personal property coverage and $100K liability coverage. Check the table for the average cost in your city.
| Chattanooga | $256 |
| Clarksville | $239 |
| Knoxville | $234 |
| Memphis | $287 |
| Murfreesboro | $233 |
| Nashville-Davidson | $244 |
*Rates based on good credit, no claims history, $50K property damage, $100K liability coverage, $1,000 deductible and guaranteed replacement.
Tennessee Renters Insurance: Buyer's Guide
Finding the best and cheapest renters insurance in Tennessee can be difficult with many options. This guide will help you select the right coverage.
How to Find the Best Cheap Renters Insurance in Tennessee
This step-by-step guide will help you find the best renters insurance option.
- 1Determine the right coverage level
Understand how much coverage you need before comparing rates. Know which belongings you want insured and their value. Consider risks like weather damage, crime rates and potential pet liability if you have animals.
- 2Research costs and discounts
After identifying your coverage needs, research typical costs for similar situations. This helps you evaluate quotes more effectively. Look for discounts to save money when comparing companies.
- 3Compare providers
Research companies' reputations, costs and coverage options. This helps you create a shortlist of providers to contact for quotes.
- 4Consider bundling
Check if bundling renters and auto insurance with your current auto insurer saves money. Sometimes, the bundle discount on auto insurance can offset much of your renter's insurance cost.
- 5Compare multiple quotes through different channels
Get at least five quotes with identical coverage details. Use comparison sites, company websites, insurance brokers and direct conversations with agents to find varied pricing options.
- 6Compare rates annually
Insurance rates change frequently. Compare prices yearly to ensure you still get the best rate.
How Much Renters Insurance Do I Need in Tennessee?
Tennessee law doesn't require renters insurance, but most landlords will likely require at least $100K in liability coverage. Requirements may vary based on your rental history, credit and pets. Consider how much property you want covered, weather risks, local crime rates and pet ownership.
Use our calculator below to determine your ideal personal property limits so you know how much renters insurance you need.
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.
Tennessee Renter Risk Considerations
- Weather risks: Tennessee has a high risk of tornadoes, hurricanes and earthquakes in certain areas. Standard coverage may not include protection for these threats.
- Crime risks: Tennessee ranks 13th nationwide for property crime and 24th for identity theft and fraud. Consider add-ons and supplemental property damage coverage.
- Pet ownership: Consider pet liability coverage. Check how pet coverage works with different providers.
- Property types: If you have special tools, valuables, electronics or other structures like a pool that need coverage, standard policies may not suffice.
How Does Renters Insurance Coverage Work?
Common coverage types include:
Coverage Type | Standard or Add-on | Coverage Details |
|---|---|---|
Standard | Reimburses and replaces personal property within your rental up to specified limits. | |
Standard | Covers you if someone gets injured on your property, including medical and legal costs. | |
Additional living expenses | Standard | Covers expenses due to rental home loss, such as meals, lodging and transportation. Coverage is either a percentage of your personal property limits or a flat amount. |
Natural disasters | Add-on | Separate policies for earthquake and flood coverage available with select providers |
Parts/Equipment | Add-on | Separate policies for tools, appliances and utilities in your rental |
Scheduled property | Add-on | Insures specific valuable items up to certain amounts |
Identity theft | Add-on | Protects financially against identity theft, covering stolen funds and legal costs. May include monitoring services. |
Pet liability | Add-on | Protects against injuries caused by your pet on rental property. May be covered in standard policies. |
Modifications | Add-on | Covers non-original rental property parts, including custom additions and modifications |
Food loss | Add-on | Reimburses food lost due to covered incidents |
Best Renters Insurance in Tennessee: Bottom Line
Tennessee's best and cheapest renter insurance company is State Farm. While we recommend it, research for yourself and compare multiple companies and quotes to get the best deal.
Renters Insurance in Tennessee: FAQ
Here are answers from our experts to common questions:
What is the cheapest renters insurance company in Tennessee?
State Farm offers the cheapest renters insurance in Tennessee, with an average annual premium of $264 or $22 per month.
What is the best renters insurance company in Tennessee?
State Farm is Tennessee's best renters insurance company, with a MoneyGeek score of 90 out of 100. It delivers a strong combination of affordability and customer satisfaction.
How much does renters insurance cost in Tennessee?
The average cost of renters insurance in Tennessee is $287 per year or $24 per month, 19% higher than the national average. Annual premiums range from $264 to $515.
Is renters insurance required in Tennessee?
Tennessee doesn't legally mandate renters insurance, but your landlord may require it. Evaluating your needs and circumstances can help determine whether buying a policy is right for you. Reasons to get renters insurance include financial protection against common perils and liability costs of third-party injuries.
How We Found the Best Cheap Renters Insurance Companies
To determine the cheapest renters insurance in Tennessee, we used this base profile:
- $50K personal property coverage
- $100K liability coverage
- $1,000 deductible
- Property replacement coverage
- Good credit score
This determined our affordability score (60% of the total score). Other factors included company size and add-on coverage selections (10%), customer satisfaction score from industry research (25%) and financial strength ratings (5%).
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- American Red Cross. "Which Natural Disasters Should You Prepare For?." Accessed May 5, 2025.
- Insurance Information Institute. "Facts + Statistics: Identity Theft and Cybercrime." Accessed May 5, 2025.
- U.S. News. "Property Crime Rate." Accessed May 5, 2025.