Updated: March 10, 2026
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Tennessee's best renters insurance: Erie
Most affordable renters insurance in Tennessee: Lemonade
Typical renters insurance rate in Tennessee: $178 per year
Tennessee's best renters insurance provider is Erie, which earns a MoneyGeek score of 4.8 out of 5. At $16 monthly, it scores well for customer experience and coverage.
The five renters insurance companies in Tennessee with the highest MoneyGeek scores are:Â
| Erie Insurance | 4.8 | $16 | $188 |
| State Farm | 4.66 | $11 | $135 |
| Lemonade | 4.56 | $9 | $108 |
| Auto-Owners Insurance | 4.55 | $13 | $152 |
| Farm Bureau | 4.51 | $10 | $123 |
*Rates for renters aged 26 to 64 with good credit and no claims history. Policy includes $20,000 in personal property coverage, $100,000 in liability coverage and a $500 deductible.
Best for Tennessee Renters
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
For $20,000 in personal property coverage, Tennessee renters can pay as little as $9 per month through Lemonade. That's $6 less per month than Tennessee's $15 average, or $72 in annual savings.
The 10 most affordable companies range from $9 to $18 monthly for identical coverage, and seven of 10 charge less than the state average. Finding the cheapest renters insurance means comparing multiple providers to get the best rate for your needs.
| Lemonade | $9 | $-6 |
| Farm Bureau | $10 | $-5 |
| USAA | $11 | $-4 |
| Nationwide | $11 | $-4 |
| State Farm | $11 | $-4 |
| American National | $13 | $-2 |
| Auto-Owners Insurance | $13 | $-2 |
| Erie Insurance | $16 | $1 |
| Westfield Insurance | $16 | $1 |
| Farmers | $18 | $3 |
At $178 annually or $15 monthly, Tennessee renters pay $1 less than the national average of $16 per month for renters insurance. Despite this lower cost, Tennessee's higher crime rates in urban areas and the state's tornado risks create substantial exposure for insurers. These local conditions, along with housing market pressures, influence how insurance companies price their policies and manage claim costs.
Spring Hill offers Tennessee's most affordable renters insurance at $14 monthly ($163 annually), while Memphis residents pay the highest rates at $18 per month ($210 annually). Most cities stay close to Tennessee's $15 average, with local factors like crime rates and weather risks accounting for the pricing differences.
| Antioch | $14 | $173 |
| Burns | $14 | $171 |
| Chattanooga | $15 | $183 |
| Clarksville | $14 | $169 |
| Goodlettsville | $14 | $171 |
| Hermitage | $14 | $170 |
| Knoxville | $14 | $166 |
| Memphis | $18 | $210 |
| Murfreesboro | $14 | $167 |
| Pulaski | $14 | $171 |
| Spring Hill | $14 | $163 |
State Farm takes the top spot at the $250,000 tier, charging $33 per month for $250,000 in coverage and $300,000 in liability protection. However, Lemonade offers the most affordable renters insurance across the three lower coverage tiers in Tennessee. It's the cheapest choice from $20,000 to $100,000 in personal property coverage, all with $100,000 liability limits.
| $20K Personal Property / $100K Liability | Lemonade | $9 |
| $50K Personal Property / $100K Liability | Farm Bureau | $14 |
| $100K Personal Property / $100K Liability | Nationwide | $18 |
| $250K Personal Property / $300K Liability | State Farm | $33 |
Knowing your coverage options, estimating your property value and comparing quotes helps you get the right coverage.
Quotes vary widely on Tennessee renters insurance. Lemonade charges $9 monthly while Farmers charges $18 for identical $20,000 coverage. That's a $9 monthly difference for the same financial protection. Request quotes from at least three insurers to find the lowest rate using online comparison tools.
Pairing your renters and auto insurance with one company cuts 10% to 25% off both premiums. State Farm and Auto-Owners provide bundling discounts that lower your total insurance costs while consolidating your monthly bills into a single payment.
Choosing a higher deductible reduces your monthly premium but increases what you'll pay when filing claims. Before raising your deductible, confirm your emergency fund can cover the higher out-of-pocket costs if you need to file a claim.
Many discounts won't apply automatically, so ask what you qualify for. Tennessee insurers offer savings for security systems, smoke detectors, claims-free history and automatic payments. State Farm provides good student discounts for renters under 25 maintaining a B average or better.
Most Tennessee landlords require at least $100,000 in liability coverage, though the state doesn't mandate renters insurance by law. Factors like pet ownership, credit score and rental history affect your coverage requirements. Your property value, local weather risks and crime rates should inform your coverage limits.
Use our calculator below to find out how much renters insurance you need.
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.
Clothes, shoes, bags, belts, hats, gloves, etc.
Review our experts' answers to frequently asked questions below:
Erie ranks as Tennessee's best renters insurance provider with a MoneyGeek score of 4.80 out of 5. At $16 monthly, it offers high customer satisfaction at affordable rates.
Tennessee renters insurance costs $15 per month or $178 annually for $20,000 in personal property coverage. The state runs $1 below the national average of $16 monthly because of severe weather risks like tornadoes and storms, plus higher property crime rates in metro areas.
Renters insurance with $100,000 in personal property coverage costs $39 per month or $467 per year in Tennessee on average. Nationwide offers the most affordable option at this coverage level for just $18 monthly. This higher coverage amount works well for renters with expensive belongings or valuable collectibles, since most people choose $20,000 to $50,000 in coverage.
Tennessee doesn't require renters insurance by law, but most landlords require at least $100,000 in liability coverage as a lease condition. Your landlord may set additional requirements, which may vary based on rental history, credit score and whether you own pets. Check your lease agreement for the exact coverage requirements.
We analyzed Tennessee renters insurance companies to find insurers with affordable rates and excellent service.
We gathered quotes for renters with this profile:
Affordability accounted for 50% of each company's score. Customer satisfaction from industry research made up 40%. Add-on coverage options contributed 10%. Companies with the highest combined scores across all factors earned spots on our list of Tennessee's best renters insurance providers.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in 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.
