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Edited by John Leach
Last Updated February 28, 2022
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Nashville, TN Homeowners Insurance
Nashville has a history richly steeped in tradition and is best known as “Music City” and the home of country music. There are plenty of attractions and activities to keep both visitors and residents entertained. Nashville lies on the beautiful Cumberland River where steamboats can be seen making their voyages up and down the river.
As beautiful as Nashville is, it also has its share of natural disasters to deal with, including flooding and tornadoes. The best way Nashville homeowners can protect their home and property investments is through homeowners insurance. The price of a homeowners insurance policy will vary depending on the age and condition of your home, how much coverage you need, crime in your neighborhood, protective devices you have installed, and other factors.
There are so many home insurers out there, and choosing the right one can be confusing. Insurify can simplify the process and help Nashville homeowners find the best homeowners insurance possible. We make it easy!
Read on for a complete guide to protecting your home and property in Music City.
Cheapest Home Insurance Companies in Nashville
For homeowners in Nashville, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Nashville. The following are the best insurance rates from carriers that offer homeowners insurance in Nashville.
How to Find Cheap Home Insurance in Nashville
Buying a home is probably one of the largest financial investments you and your family will ever make. That’s why protecting your investment is so important. Any financial investment comes with a certain amount of risk, including buying a home. However, there are steps you can take to minimize your risk and protect your investment.
You can compare home insurance quotes with Insurify from multiple companies all at one time. You can get a home insurance quote based on your unique insurance needs, including the amount of dwelling coverage you need, personal liability coverage, and the deductible you want.
Wondering what you can do to lower the cost of Nashville home insurance? There are a few ways you can cut costs. Try bundling home and auto insurance together. That should qualify you for a discount. You can also install protective devices in your home or go with a higher deductible to save even more money. Of course, money isn’t everything when it comes to home insurance. You want the best value, which means comprehensive coverage at the least expensive price.
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Cheapest Home Insurance in Nashville by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, the average home insurance premium in Nashville costs $2,039 annually, and the median home value is $289,142.
Home insurance is not cheap. Sometimes it seems like there’s not enough paycheck left to provide for you and your family.
|Average Home Cost in Nashville||Average Annual Insurance Premium in Nashville|
Average Annual Home Insurance Premium in Nashville by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Cheapest ZIP Codes in Nashville for Home Insurance
Property costs and home insurance values vary depending on your location. Home insurance costs can vary depending on geographic variables, such as the crime rates in your neighborhood, the number of claims filed from your specific ZIP code, and the likelihood of natural disasters.
The price of home insurance in Nashville can be relatively high or low compared to the national average, depending on your locality.
Home Insurance Coverage Types in Nashville
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems including
- natural disasters (storms, fires, wind, lightning, volcanic eruption),
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “ replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
Tornado Damage and Home Insurance in Nashville
In March 2020, Nashville citizens were devastated by a tornado that was a part of a two-day tornado outbreak. It affected West and Middle Tennessee and became the sixth costliest tornado outbreak to ever hit the US. Twenty-five people were killed during the tornado outbreak, and damages to homes and property totaled $1.6 billion.
Homeowners insurance covers wind damage to homes and properties caused by a tornado and can help pay to repair damages or rebuild your home. You can’t predict the weather and know when there will be a tornado outbreak. No one has a crystal ball. What you can do is make sure you are protected against natural disasters and storm damage by comparing homeowners insurance quotes with Insurify.
Flood Insurance in Nashville
Nashville is no stranger to flooding. Heavy rainfall from storm systems can cause rivers to overflow their banks. When this happens, homeowners can experience devastating home and property losses. The 2010 Nashville flood caused 26 fatalities, and over $2 billion of damages were reported in the Nashville metro area.
Homeowners insurance doesn’t cover floods. If you want flood coverage, you’ll have to purchase a separate policy provided by the National Flood Insurance Program (NFIP). The good news is the NFIP has approved certain agents to provide flood insurance, so it shouldn’t be difficult to find. A flood policy can help you pay for any losses to your home and property due to flood damage.
How to Find the Cheapest Home Insurance in Nashville
Finding cheap home insurance doesn’t mean you have to give up on quality or coverage options. Insurify makes it easy to find the best value in insurance for your Nashville property. Once you find the right coverage, you can rest easy knowing your home is protected.
Use Insurify to compare home insurance premiums for your property in Nashville.
Frequently Asked Questions
High crime rates and claims from natural disasters are a few reasons you could find high home insurance rates in Nashville. When the number of claims increases in a specific ZIP code or area, insurers typically raise rates and you pay much more for homeowners insurance. Even if rates are up, Nashville homeowners can still find ways to save money on home insurance by bundling home and auto insurance or installing home protective devices (fire alarms, security systems, home sprinkler systems, etc.). The best way to find a bargain in home insurance is to use Insurify to compare rates.
USAA provides home insurance in Nashville, TN. USAA insurance is available to active and retired military members and their families. It has some of the most competitive rates around. You can add on protections like identity theft coverage, valuable personal items, and more. The discounts are great too. Save money by bundling home and auto insurance or by installing protective devices in your home. Replacement cost coverage allows you to replace your personal belongings and home structure at today’s costs with no depreciation.
Waiting to get paid for a claim is never fun. You want the money quickly so you can get back to normal life as soon as possible. If your area has recently experienced a natural disaster, insurers will be overwhelmed with claims and it will take far longer than normal for insurance adjusters to settle them. You can find a home insurance company with excellent claims service by using Insurify to find the best home insurance companies.
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