While State Farm is the best for $20K in personal property coverage with an average annual premium of $97 and a MoneyGeek score of 90 out of 100, the best for you will depend on your needs.
For quality service, Travelers is a top choice. USAA is also an excellent option for veterans.
Best and Cheapest Renters Insurance in Tennessee (September 2024)
The best renters insurance company in Tennessee for $20K in personal property coverage is State Farm, with a MoneyGeek score of 90 and an annual premium of $97.
Mark Fitzpatrick
Head of Insurance, MoneyGeek
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including [CNBC](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). 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.
Rae Osborn
Content Editor
Dr. Rae Osborn is a MoneyGeek content editor with over seven years of editing experience and over 20 years of experience in publishing and writing science content. She also works as a science researcher, writer and editor and a professional reviewer for Science Reviews and Advances in Entomology.
Mark Fitzpatrick
Head of Insurance, MoneyGeek
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including [CNBC](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). 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.
Rae Osborn
Content Editor
Dr. Rae Osborn is a MoneyGeek content editor with over seven years of editing experience and over 20 years of experience in publishing and writing science content. She also works as a science researcher, writer and editor and a professional reviewer for Science Reviews and Advances in Entomology.
Updated: September 21, 2024
Advertising & Editorial Disclosure
MoneyGeek ranks State Farm as the best overall renters insurance provider with a score of 90 out of 100 and an average annual premium of $97.
State Farm is the cheapest renters insurance provider in Tennessee, with an average annual premium of $97.
Travelers is the best renters insurance provider for service quality with a MoneyGeek score of 86 out of 100 and an average annual premium of $271.
State Farm is the best renters insurance provider for those needing extra personal property coverage of $100K with a MoneyGeek score of 90 out of 100 and an average annual premium of $226.
USAA is the best renters insurance provider for military members, with a MoneyGeek score of 100 out of 100 and an average annual premium of $101.
Erie is the best renters insurance provider for those with poor credit in Tennessee, with a MoneyGeek score of 92 out of 100 and an average annual premium of $304.
Why Trust MoneyGeek? We used data from the Tennessee Department of Insurance and Quadrant Information Services to find the top renters insurance in Tennessee.
Renters insurance rates in Tennessee reflect the best quotes as of September 2024.
Overall Best Renters Insurance in Tennessee
State Farm is the best renters insurance provider in Tennessee, with an outstanding MoneyGeek score of 90 out of 100, and an annual premium of $97 for $20,000 in personal property coverage. A top provider like this generally strikes a balance between cost and customer service. The following providers are the two best renters insurance providers in Tennessee for the same policy:
- State Farm: MoneyGeek score of 90 out of 100 ($97 per year)
- Auto-Owners: MoneyGeek score of 89 out of 100 ($105 per year)
State Farm has perfectly balanced customer satisfaction and affordability. However, the best provider for you will depend on your specific needs.
In addition to being the best overall renters insurance in Tennessee, State Farm ranks first in affordability, with an annual premium of $97.
One valuable coverage that State Farm offers is cyber event/ID theft protection. This coverage helps to restore your identity if it’s stolen digitally, safeguarding your personal information and financial stability. Another beneficial feature is the earthquake add-on, providing crucial protection in states prone to seismic activity. Renters in Tennessee can particularly benefit from these comprehensive safeguards, enhancing peace of mind and asset protection.
The winning company offers cyber event and ID theft coverage
It has an affordability rank of 1, making it very affordable
Missing scheduled personal property coverage
Ranks third in the state for coverage options
Ranks third in the state for customer satisfaction
To find the BEST overall renters insurance in a state, MoneyGeek's system prioritizes customer satisfaction and affordability. Secondary factors include coverages and financial stability.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
State Farm | MoneyGeek Score90 | Annual Premium$ 97 |
Auto-Owners Insurance | MoneyGeek Score89 | Annual Premium$ 105 |
Erie | MoneyGeek Score85 | Annual Premium$ 140 |
Shelter | MoneyGeek Score79 | Annual Premium$ 111 |
Farmers | MoneyGeek Score75 | Annual Premium$ 144 |
Westfield Insurance | MoneyGeek Score67 | Annual Premium$ 167 |
Travelers | MoneyGeek Score57 | Annual Premium$ 271 |
Cheapest Renters Insurance in Tennessee
State Farm offers the cheapest renters insurance in Tennessee, with an annual premium of $97 for $20K in personal property coverage. Personal property coverage protects your belongings, such as furniture, electronics, and clothing, against risks like theft or fire. The following providers are the top two cheapest providers for $20K in personal property coverage in Tennessee with a $1,000 deductible.
- State Farm: $97 per year
- Auto-Owners Insurance: $105 per year
Cheap renters insurance policies often have low personal property coverage limits. Higher coverage limits can lead to higher monthly costs, but they provide better protection if you have many personal belongings.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
State Farm | Annual Premium$ 97 |
Auto-Owners Insurance | Annual Premium$ 105 |
Shelter | Annual Premium$ 111 |
Erie | Annual Premium$ 140 |
Farmers | Annual Premium$ 144 |
Westfield Insurance | Annual Premium$ 167 |
Travelers | Annual Premium$ 271 |
Prioritize quality service when selecting renters insurance in the state. It is often wiser to invest in the best renters insurance over cheaper plans, ensuring effective claim servicing. This may result in long-term savings.
Cheapest Renters Insurance by High Deductible in Tennessee
A high deductible can help you lower costs. In Tennessee, the cheapest renters insurance company for $20K in personal property coverage with a $2,000 deductible is State Farm with an annual premium of $97. A deductible is the amount you pay out of pocket before your insurance kicks in. For the same coverage with a $2,000 deductible, the following providers are the top two cheapest in Tennessee:
- State Farm: $97 per year
- Auto-Owners: $101 per year
A deductible directly affects your costs; a higher deductible usually means a lower premium. Take a look at how rates change using the table we'll provide below.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
- $ 500
- $ 1,000
- $ 1,500
- $ 2,000
State Farm | Annual Premium$ 97 |
Auto-Owners Insurance | Annual Premium$ 101 |
Shelter | Annual Premium$ 102 |
Farmers | Annual Premium$ 120 |
Erie | Annual Premium$ 124 |
Westfield Insurance | Annual Premium$ 157 |
Travelers | Annual Premium$ 236 |
Best Renters Insurance for Customer Service in Tennessee
Travelers is the best renters insurance company for service quality in Tennessee for $20K in personal property coverage, with an annual premium of $271. Great customer service means having a provider that responds promptly, addresses your concerns efficiently, and ensures that your needs are met in a caring and respectful manner. The following providers are the top two best providers in Tennessee for those who value great customer service and $20K in personal property coverage:
- Travelers: MoneyGeek score of 86 out of 100 ($271 per year)
- Erie: MoneyGeek score of 85 out of 100 ($140 per year)
Great customer service is important for renters looking for insurance because it ensures a smooth experience when handling claims or inquiries. For instance, when you make a claim, attentive service guides you through the process seamlessly, providing peace of mind.
Travelers ranks first in both customer satisfaction and coverage in Tennessee, with an annual premium of $271.
Two notable coverages are contents replacement cost and scheduled personal property. Contents replacement cost ensures your belongings are replaced with new items of the same kind after a covered loss, benefiting renters who want their damaged items replaced with new versions. Scheduled personal property covers valuable items such as jewelry and electronics, providing renters extra protection for high-value possessions beyond standard limits.
Contents replacement cost and scheduled personal property
Claims free and bundle
Ranks first in Tennessee for coverage
Lowest annual premium in the state
The company ranks fourth in the state for customer satisfaction
To identify the best renters insurance emphasizing service quality in a state, MoneyGeek's scoring system prioritized customer satisfaction. Secondary factors also included coverages and financial stability for renters valuing service quality.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
Travelers | MoneyGeek Score86 | Annual Premium$ 271 |
Erie | MoneyGeek Score85 | Annual Premium$ 140 |
Auto-Owners Insurance | MoneyGeek Score77 | Annual Premium$ 105 |
State Farm | MoneyGeek Score75 | Annual Premium$ 97 |
Farmers | MoneyGeek Score66 | Annual Premium$ 144 |
Shelter | MoneyGeek Score61 | Annual Premium$ 111 |
Westfield Insurance | MoneyGeek Score58 | Annual Premium$ 167 |
Best Renters Insurance for Extra Personal Property in Tennessee
State Farm is the best renters insurance company for renters who need $100K of personal property coverage in Tennessee, with an annual premium of $226. For $100K in personal property coverage, the following providers are the top two best providers in Tennessee:
- State Farm: MoneyGeek score of 90 out of 100 ($226 per year)
- Erie: MoneyGeek score of 85 out of 100 ($359 per year)
Renters with many personal belongings need higher personal property coverage. Personal property coverage helps replace or repair your belongings in case of damage or theft. Higher personal property coverage often comes at a higher cost.
State Farm ranks first in Tennessee for affordability and customer satisfaction for those needing extra personal property coverage, with an annual premium of $226.
They offer cyber event/id theft coverage and earthquake coverage. Cyber event/id theft covers identity restoration, assisting renters in recovering their identity if stolen. Earthquake coverage, essential for high-risk areas, protects renters' belongings from quake damage, providing peace of mind in disaster scenarios. With these protections, State Farm ensures renters in Tennessee have superior coverage for their personal property needs.
Offers coverage for cyber event and ID theft
Offers discounts for both bundle and protective device
The company ranks third in the state for customer satisfaction
The company ranks third in the state for coverage options
To find the best renters insurance for those needing higher personal property limits, MoneyGeek's system focused on customer satisfaction and affordability. They also considered coverages and financial stability for this specific need.
State Farm | MoneyGeek Score90 | Annual Premium$ 226 |
Erie | MoneyGeek Score85 | Annual Premium$ 359 |
Auto-Owners Insurance | MoneyGeek Score83 | Annual Premium$ 335 |
Westfield Insurance | MoneyGeek Score74 | Annual Premium$ 337 |
Shelter | MoneyGeek Score74 | Annual Premium$ 358 |
Farmers | MoneyGeek Score71 | Annual Premium$ 438 |
Travelers | MoneyGeek Score57 | Annual Premium$ 793 |
Best Renters Insurance for Military Members in Tennessee
USAA is the best renters insurance company for homeowners with military backgrounds in Tennessee for $20K in personal property coverage, with an annual premium of $101. USAA is a company exclusively for those with military backgrounds. The following providers are the top two best providers in Tennessee for military members who need $20K in personal property coverage:
- USAA: MoneyGeek score of 100 out of 100 ($101 per year)
- State Farm: MoneyGeek score of 90 out of 100 ($97 per year)
USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. While USAA doesn’t rank first in affordability, with a higher annual premium than State Farm, it might be worth considering given how it tailors its offerings for those with a military background.
USAA is a renters insurance provider that offers policies exclusively to those with military backgrounds, ranking first in customer satisfaction, coverages, and affordability. The company's annual premium is $101.
USAA includes contents replacement cost and worldwide personal property coverage. Replacement cost coverage reimburses for the full cost of new items similar to the damaged ones. Worldwide personal property ensures coverage even overseas, beneficial for those stationed abroad.
Exclusively serves those with military backgrounds
Offers contents replacement cost and worldwide personal property coverages
Provides claims-free and military base or academy residence discounts
Ranks No. 1 in Tennessee for customer satisfaction and coverage options
Lacks cyber event/ID theft and scheduled personal property coverage
To find the best renters insurance for military members in the state, Moneygeek's scoring system prioritizes customer satisfaction and affordability. Secondary factors such as coverages and financial stability are also considered in this assessment for military members.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
USAA | MoneyGeek Score100 | Annual Premium$ 101 |
State Farm | MoneyGeek Score90 | Annual Premium$ 97 |
Auto-Owners Insurance | MoneyGeek Score89 | Annual Premium$ 105 |
Erie | MoneyGeek Score85 | Annual Premium$ 140 |
Shelter | MoneyGeek Score79 | Annual Premium$ 111 |
Farmers | MoneyGeek Score75 | Annual Premium$ 144 |
Westfield Insurance | MoneyGeek Score67 | Annual Premium$ 167 |
Travelers | MoneyGeek Score57 | Annual Premium$ 271 |
Best Renters Insurance for Bad Credit in Tennessee
Erie is the best renters insurance company for those with poor credit in Tennessee, with an annual premium of $304. The following providers are the top two best providers in Tennessee for those with poor credit:
- Erie: MoneyGeek score of 92 out of 100 ($304 per year)
- State Farm: MoneyGeek score of 90 out of 100 ($229 per year)
Rates for those with poor credit are often higher, as they pose a greater risk to providers. Insurance companies view them as higher-risk due to their financial histories suggesting potential late payments or defaults. Those with poor credit can take steps to improve their credit to lower rates and take advantage of discounts where possible.
In Tennessee, Erie ranks first in affordability for renters with poor credit. It also holds the top spot in customer satisfaction. Renters can expect an annual premium of around $304.
Erie offers uncommon advance quote and age of insured discounts. The advance quote discount benefits those who plan ahead by reducing premiums for early payments. Additionally, the age of insured discount can lower costs for older renters, making insurance more affordable for those with poor credit.
The company offers early payment and senior discounts
Affordability score is higher compared to other insurers
Ranks first in the state for customer satisfaction
To identify the best renters insurance for those with poor credit in {{state}}, MoneyGeek highlights customer satisfaction and affordability. Secondary considerations include coverages and financial stability.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
- Below Fair
- Excellent
- Fair
- Good
- Poor
Erie | MoneyGeek Score92 | Annual Premium$ 304 |
State Farm | MoneyGeek Score90 | Annual Premium$ 229 |
Travelers | MoneyGeek Score86 | Annual Premium$ 853 |
Farmers | MoneyGeek Score83 | Annual Premium$ 342 |
Shelter | MoneyGeek Score82 | Annual Premium$ 183 |
Westfield Insurance | MoneyGeek Score80 | Annual Premium$ 298 |
Auto-Owners Insurance | MoneyGeek Score54 | Annual Premium$ 3,333 |
Average Cost of Renters Insurance in Tennessee
The average cost of renters insurance in Tennessee is $148 annually, or $12 monthly, which is slightly higher than the [national average] of $146 annually. This makes Tennessee's average about $2 more per year. These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, and a $1,000 deductible.
Renters, remember that the average cost of renters insurance in Tennessee may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of theft or damage. Use the tool below to get an estimate for your renters insurance based on your needs.
Renters Insurance Calculator
MoneyGeek's renters insurance calculator will give you a customized estimate of your renters insurance costs.
It's free to use, requires no personal information and we won't send you any spam.
Rates updated:
Oct 14, 2024
Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.
Average Cost of Renters Insurance by City in Tennessee
The average cost for renters insurance varies not only by state but also by city.
For instance, the average annual premium in Memphis is $167, while in Knoxville, it is $139. These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, a $1,000 deductible and a good credit score.
See the average cost in your city using the table below.
Chattanooga | Annual Premium$ 151 |
Clarksville | Annual Premium$ 142 |
Knoxville | Annual Premium$ 139 |
Memphis | Annual Premium$ 167 |
Murfreesboro | Annual Premium$ 139 |
Nashville-Davidson | Annual Premium$ 146 |
Renters in Tennessee can save money on renters insurance by comparing quotes among providers. For $20K in personal property and a $1,000 deductible, State Farm offers the lowest annual premium at $97, while Travelers charges $271, allowing renters to save $174 annually or $14.50 monthly.
What Factors Impact Renters Insurance Costs in Tennessee?
Multiple factors impact the cost of renters insurance in Tennessee, including location, coverage amount, and deductible. Understanding these factors is important for making informed decisions and potentially saving money on premiums. Below are some key factors that affect renters insurance costs:
Factors:
- Location: Urban areas tend to have higher premiums due to higher crime rates.
- Coverage Amount: Higher coverage limits result in higher premiums.
- Deductible: Lower deductibles lead to higher premiums.
- Credit Score: Poor credit scores can increase premiums.
- Claims History: A history of claims can raise premiums.
How Much Personal Property Coverage Do You Need?
Determining your personal property coverage involves creating a personal inventory of all your belongings at home. A personal inventory is a detailed list of all items you own, including their estimated value. Follow these steps to create a personal inventory to determine your personal property coverage:
- List Your Belongings: Walk through each room and list all items, including furniture, electronics, and personal items.
- Take Photos or Videos: Document your belongings visually to have a record of their condition.
- Record Serial Numbers: For valuable items, record serial numbers and model information.
- Estimate Values: Assign an estimated value to each item based on purchase price or current market value.
- Store Inventory Safely: Keep a copy of your inventory in a safe place, such as a cloud storage service or a fireproof safe.
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.
What Renters Insurance Typically Covers in Tennessee
Renters insurance primarily protects your personal belongings from damage, but it also extends to other areas such as liability and additional living expenses. Here's what a typical policy may cover:
- Personal Property Coverage: Safeguards your possessions against covered perils like theft to help you replace them.
- Personal Liability Coverage: Protects you from legal responsibility for injuries or damage to others, such as if a guest is injured in your rental unit.
- Loss of Use Coverage: For additional living expenses if your rental is uninhabitable due to a fire, for example, loss of use coverage can cover temporary housing costs.
Renters insurance typically applies to specific events, like theft, vandalism or specific natural disasters. Here's what most policies cover:
- Fire or lightning
- Windstorm or hail
- Explosions
- Riots
- Damage caused by aircraft
- Damage caused by vehicles
- Smoke damage
- Vandalism
- Theft
- Volcanic eruption
- Falling objects
- Weight of ice, snow or sleet
- Water-related damage from home utilities
- Electrical surge damage
What Renters Insurance Typically Doesn't Cover
Although renters insurance provides a safety net for your personal property and liability, it does not universally cover all losses. For instance, damage from floods or earthquakes typically falls outside standard policies. Here's what else is usually not included:
- Natural Disasters: Standard policies often exclude events like floods and earthquakes.
- High-Value Items: Expensive jewelry or electronics may exceed policy limits.
- Business Equipment: Items used for business purposes may require additional coverage.
- Roommate Property: Your policy does not cover your roommate's belongings.
- Pest Damage: Infestations and damage from pests are generally not covered.
- Car Theft: Personal vehicles are covered under auto insurance, not renters insurance.
Understanding these exclusions can help you seek additional coverage if necessary, ensuring you're protected against a wider range of potential risks.
FAQ: Renters Insurance in Tennessee
Finding the best renters insurance provider depends on your unique needs and circumstances. To help you navigate your options, we've answered some frequently asked questions about renters insurance.
The cheapest renters insurance provider in Tennessee is State Farm with an annual premium of $97, which is about $8 per month. For military members, veterans, and eligible family members, USAA is the cheapest with an annual premium of $101.
The best renters insurance provider in Tennessee is State Farm with the highest MoneyGeek score and an annual premium of $97, which is about $8 per month. For military members, veterans, and eligible family members, USAA is the best with an annual premium of $101.
The average cost of renters insurance in Tennessee is $148 annually, which is about $12 per month. Premiums can range from $97 to $148 per year, depending on the provider.
Renters insurance is not required by law in Tennessee. However, your landlord may require you to purchase a policy. Evaluating your needs and circumstances can help determine whether buying a policy is right for you. Some reasons to get renters insurance include financial protection against common perils and liability costs of third-party injuries.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He 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.