Cheapest Tennessee Homeowners Insurance Quotes (2024)

Westfield offers some of the cheapest homeowners insurance policies in Tennessee, with annual premiums starting at $1,223.

Amy Beardsley
Written byAmy Beardsley
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Amy BeardsleyInsurance Writer
  • 3+ years writing about auto, home, and life insurance

  • 7+ years in personal finance and technology

Amy specializes in insurance and technology writing and has a talent for transforming complex topics into easy-to-understand stories.

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Katie Powers
Edited byKatie Powers
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Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

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Andrew Huang
Data reviewed byAndrew Huang
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Andrew HuangVice President, Performance Marketing
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  • 12+ years in data analysis and marketing

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Updated May 22, 2024

Why you can trust Insurify: Comparing accurate insurance quotes should never put you at risk of spam. We earn an agent commission only if you buy a policy based on our quotes. Our editorial team follows a rigorous set of editorial standards and operates independently from our insurance partners. Learn more.

Homeowners in Tennessee pay an annual average of $2,470 for homeowners insurance with $300,000 in dwelling coverage. This is about 4% higher than the national average of $2,377 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.

Quick Facts
  • Westfield, American National, and Allstate provide the cheapest average home insurance rates in Tennessee.

  • Tennessee homeowners may need to buy a separate flood insurance policy.

  • The average NFIP flood insurance claim payout in Tennessee is $38,300, per FEMA data published in 2021.[2]

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.

Insurance CompanyIQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
Average Annual PremiumBest For
WestfieldN/A$1,080Cheapest rates
Allstate4.1$1,999Flood damage
Erie3.7$1,388Bundling discount
State Farm4.1$1,988Customer experience
  • Our editorial team spent 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. Criteria are weighted by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. We update ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: We use data from AM Best, S&P, Moody's, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 20,000 customer reviews across 155 car insurance companies. We also considered third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the United States, as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify identified the number of states in which insurers offer coverage and company size by market share to score availability and reach.

Cheapest rates: Westfield

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$85/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$102/mo

Westfield has the lowest home insurance rate in Tennessee, with prices much lower than the state average. This is great news for the 69% of Tennesseans who own their homes. Westfield lets you customize your policy by adding optional coverages like flood insurance and equipment breakdown coverage for appliances and home systems.

Pros
  • Lowest average cost of Tennessee homeowners insurance

  • Customizable policies with useful optional coverages

Cons
  • Quotes only available through an agent

  • Online tools not as good as other companies’

Best insurer for flood damage: Allstate

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.2
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
833
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$118/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$161/mo

Allstate makes it easy to get flood coverage through the National Flood Insurance Program (NFIP) or a private flood insurance policy from National General, an Allstate company. Homes in Tennessee have a high risk of flooding, but less than half of the buildings in high-risk flood areas have flood insurance coverage through the NFIP.

Allstate agents can help you figure out your flood risk and choose the right policy to protect your home and belongings from rising water.

Pros
  • Choice of private or NFIP flood insurance

  • Discounts for having multiple policies, paying on time, and not making claims

Cons
  • Separate deductible for flood insurance claims

  • 30-day waiting period for NFIP coverage to start

Best insurer for bundling discount: Erie

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.4
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
870
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$158/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$237/mo

Erie Insurance offers discounts of up to 25% if you bundle your home insurance with auto, umbrella, or life insurance policies. Erie’s policies come with great features, like guaranteed replacement cost coverage for your house and coverage for jewelry, watches, precious stones, and firearms.

Pros
  • Flexible bundling discount of up to 25%

  • Local agents in 121 cities throughout Tennessee

Cons
  • Quotes only available through an agent

  • Online claims filing not available

Best insurer for customer experience: State Farm

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.5
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$179/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$258/mo

State Farm is the best choice for customer experience, and it’s easy to see why. With agents in 145 cities across the state, it offers more chances for one-on-one customer service for Tennessee drivers. It also ranked sixth out of 21 companies in the J.D. Power 2023 U.S. Home Insurance Study for customer satisfaction.

Pros
  • Above-average customer satisfaction ranking from J.D. Power

  • Easy-to-use website and personalized agent service

Cons
  • Fewer discounts than some competitors

  • Higher average premiums than some other insurers

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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 annual premium in the state, at $1,223.

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

Insurance CompanyAverage Annual Premium
Westfield$1,223
American National P&C$1,406
Allstate$1,576
Erie$1,901
Tennessee Farmers$2,019
USAA$2,036
Auto-Owners$2,164
ASI$2,196
State Farm$2,285
Travelers$2,942
Shelter$3,041
Farmers$3,050
Grange Mutual$3,074
Foremost$3,376
Celina Insurance Group$5,574

Cost of homeowners insurance in Tennessee

If you own a home in Tennessee, you’ll pay an average annual premium of $2,470 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 annual prices for different dwelling coverage levels.

Coverage LimitAverage Annual Premium
$100,000$1,186
$200,000$1,865
$300,000$2,470
$400,000$3,187
$500,000$3,902

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.

Deductible AmountAverage Annual Premium
$500$2,535
$1,000$2,470

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.

Find Cheap Home Insurance in Tennessee

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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:

  • illustration card https://a.storyblok.com/f/162273/150x150/d2251ba1fd/weather-96x96-blue_018-tornado.svg

    Tornadoes

    Located in Tornado Alley, Tennessee saw an average of 31 tornadoes per year between 1995 and 2023, according to the National Weather Service.[4] While standard homeowners insurance usually covers property damage from tornadoes, it’s important to review your policy limits to make sure you have enough protection.

  • illustration card https://a.storyblok.com/f/162273/150x150/56dd10ca36/climate-change-96x96-yellow_013-flood.svg

    Floods

    Floods and flash floods are common in Tennessee. The average flood insurance claim payment was $53,301 in 2019, according to the Tennessee Department of Commerce & Insurance. Unfortunately, a standard home insurance policy doesn’t cover flood damage, so you’ll need to purchase separate flood insurance through the NFIP or a private insurer.

  • illustration card https://a.storyblok.com/f/162273/100x100/ca1fd1b923/termite-bug.svg

    Termites

    Termites are sometimes a bigger threat to your home than natural disasters.[5] Home insurers don’t usually cover the costs of termite damage or removal, and separate policies aren’t available. Instead, you can make your home less attractive to termites and schedule regular inspections.

Tennessee homeowners insurance FAQs

The following information will help answer your remaining questions about finding cheap home insurance in Tennessee.

  • How much is home insurance in Tennessee?

    The average annual cost of home insurance in Tennessee is $2,470 for a policy with $300,000 in dwelling coverage, which is about $206 per month. If you buy an additional flood insurance policy, you’ll pay more each month for coverage.

  • Which company has the cheapest homeowners insurance in Tennessee?

    Westfield has the cheapest average homeowners insurance in Tennessee, with an average annual average of $1,223 and a monthly average of $102. American National and Allstate also have affordable coverage, with respective annual premiums of $1,406 and $1,576.

  • Does Tennessee require homeowners insurance?

    No. Tennessee law doesn’t require homeowners to purchase home insurance, but your mortgage company will require it. Even if you’ve paid off your mortgage, you should buy home insurance to protect your finances.

    If you don’t have coverage, you’ll have to pay out of pocket to repair or rebuild your home and to replace your personal property. Home insurance provides liability coverage if someone faces an injury on your property, too.

  • Why is homeowners insurance so high in Tennessee?

    Tennessee homeowners face increased home insurance costs due to the risks of severe weather, like tornadoes and flooding. Homes in the state also face extreme damage from termites. Ultimately, how much you pay depends on your home’s age, structure, and location.

Sources

  1. Tennessee Department of Military. "Tennessee Threats."
  2. FEMA. "Tennessee — Risk Rating 2.0."
  3. Tennessee State Government. "Focus on Homeowners' Insurance."
  4. National Weather Service. "Tennessee Tornado Stats."
  5. Northeast Tennessee Association of Realtors. "What's The Biggest Threat To Your Home?."
Amy Beardsley
Amy BeardsleyInsurance Writer

Amy is a personal finance and technology writer. With a background in the legal field and a bachelor's degree from Ferris State University, she has a talent for transforming complex topics into content that’s easy to understand. Connect with Amy on LinkedIn.

Katie Powers
Edited byKatie PowersAuto and Life Insurance Editor
Photo of an Insurify author
Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

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Andrew Huang
Data reviewed byAndrew HuangVice President, Performance Marketing
Headshot of Andrew Huang, Directory of Analytics at Insurify
Andrew HuangVice President, Performance Marketing
  • Chartered financial analyst

  • 12+ years in data analysis and marketing

Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.

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