Homeowners in Tennessee pay an annual average of $2,844 for homeowners insurance with $300,000 in dwelling coverage. This is higher than the national average of $2,532 for the same amount of dwelling coverage.

You want to make sure you have the right coverage to protect your home from severe weather, especially in a state like Tennessee, where floods and tornadoes are common.1

Here’s what you need to know about comparing quotes and finding home insurance in Tennessee.

Best home insurance companies in Tennessee

If you own a home in Tennessee, you have a lot of good choices when it comes to insuring your property. The best home insurance company for you will depend on factors like how old your home is, where you live, how much you can afford to pay, and how much coverage you need.

To help you find the right fit, compare four of the top insurers in the state below.

Cheapest rates: Westfield

Best insurer for flood damage: Allstate

Best insurer for bundling discount: Erie

Best insurer for customer experience: State Farm

Cheapest home insurance in Tennessee

Westfield is your best bet if you’re looking for the most affordable home insurance in Tennessee. The company has the lowest average monthly premium in the state, at $125.

Compare average yearly rates from the cheapest home insurance companies in Tennessee below to find the best deal for you. The premiums below reflect monthly home insurance rates for policies with $300,000 in dwelling coverage.

Cost of homeowners insurance in Tennessee

If you own a home in Tennessee, you’ll pay an average annual premium of $2,844 for home insurance. Ultimately, the actual amount you pay depends on different factors, like your ZIP code and your home’s age and physical structure. For example, older homes or houses in areas prone to natural disasters like floods or tornadoes will likely pay higher premiums.

Your history of filing claims, your credit history, and the type of home insurance coverage you choose can also affect your rates.

Having home features like a newer roof and security systems and living close to a fire station can help lower your price.3

Cost of homeowners insurance by dwelling coverage amount

The amount of dwelling coverage you choose for your home insurance policy directly affects your premiums. Dwelling coverage is the part of your policy that pays to fix or rebuild your home if a covered event damages or destroys it. The more dwelling coverage you have, the more you’ll pay for coverage.

Here’s a table showing Tennessee’s average monthly prices for different dwelling coverage levels.

Cost of homeowners insurance by deductible

A homeowners insurance deductible is the amount you pay out of pocket when you file a claim before your insurance starts covering the rest. Common deductible amounts can range from $500–$2,500 or more.

A higher deductible means you’ll pay more when filing a claim, but your yearly price will be lower. If you choose a lower deductible, your out-of-pocket cost will be cheaper when filing a claim, but your premium will be higher.

How to get cheap homeowners insurance in Tennessee

While homeowners insurance is important to protect your biggest investment, it doesn’t have to be expensive.

Here are some good ways to find cheap home insurance in Tennessee:

• Shop around and compare quotes. Prices can be very different between companies, so getting home insurance quotes from at least three companies helps you find the best deal. You should also consider customer service, in case you need to file a claim.

• Raise your deductible. Choosing a higher deductible can lower your home insurance bill, but it means you’ll pay more out of pocket to file a claim. Remember, you may have a separate deductible for big disasters like flood damage. Make sure you have enough savings to cover the higher cost if something bad happens.

• Bundle your home and auto insurance. Discounts are often available if you buy two or more insurance policies from the same company, so think about bundling your home and auto policies. Some companies give discounts of up to 25%. Combining your policies with one insurer can also make managing your insurance easier.

• Invest in home security and safety devices. Installing safety features like deadbolts, smoke detectors, fire extinguishers, and burglar alarms can qualify you for discounts on your home insurance. These devices lower the risk of theft, fire, and other dangers, which means fewer claims for the insurance company.

How much homeowners insurance do you need in Tennessee?

If you’re taking out a mortgage to buy a home in Tennessee, your lender will almost certainly require you to buy a homeowners insurance policy. The lender wants to protect its investment in case a fire, weather event, or natural disaster damages or destroys your home.

But just because your mortgage company requires home insurance doesn’t mean you should automatically buy the minimum-coverage options. It’s important to understand exactly what your homeowners policy covers and to choose limits that protect you according to your situation and needs.

Specifically, you’ll want to consider the cost of rebuilding your home if a covered event destroys it, the value of your personal belongings, and your assets and savings that could be at risk if you face a lawsuit without enough liability protection.

What are some of the biggest risks when owning a home in Tennessee?

Owning a home in Tennessee comes with its fair share of risks. From natural disasters to pests, here are three of the most common dangers homeowners should know about:

Tennessee homeowners insurance FAQs