Best Nashville Homeowners Insurance Quotes (2024)

Westfield offers some of the cheapest homeowners insurance policies in Nashville, with annual premiums averaging $1,099.

Jessica Martel
Written byJessica Martel
Jessica Martel
Jessica Martel

Jessica is a freelance writer, professional researcher, and mother of two rambunctious little boys. She specializes in personal finance, women and money, and financial literacy. Jessica is fascinated by the psychology of money and what drives people to make important financial decisions. She holds a Masters of Science degree in Cognitive Research Psychology.

Ashley Cox
Edited byAshley Cox
Headshot of Managing Editor Ashley Cox
Ashley CoxSenior Managing Editor
  • 7+ years in content creation and management

  • 5+ years in insurance and personal finance content

Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.

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Updated August 7, 2024

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Nashville homeowners pay an average of $2,324 per year for $300,000 in coverage with a $1,000 deductible. This is slightly lower than the state average of $2,470 and the national average of $2,377.

Major risks to homeowners in the state of Tennessee include tornadoes, earthquakes, and flooding. Insurance companies may cover some property damage associated with tornadoes. But if you want protection against earthquakes and flooding, you’ll likely need to purchase an add-on policy.

Here’s what you should know about comparing home insurance quotes and finding coverage in Music City.

Quick Facts
  • Westfield, Allstate, Erie, and Auto-Owners offer some of the cheapest home insurance in Nashville.

  • Tennessee sees an average of 31 tornadoes per year.[1]

  • Western Tennessee is situated in the New Madrid Seismic Zone (NMSZ), putting residents at a higher risk for earthquakes.

Best home insurance companies in Nashville

Nashville homeowners have access to many quality home insurance companies. Each insurance company uses a different calculation to determine monthly premiums. The company that’s right for you will depend on your unique situation, needs, and budget.

The following table highlights some of the best home insurance companies in Nashville.

Insurance Company
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Average Annual Premium
Best For
WestfieldNR$1,099Cheapest rates
Allstate8.2$1,417Flood insurance
Erie7.4$1,863Replacement cost coverage
Auto-Owners7.4$1,934Mortgage-free homeowners
  • Our editorial team spent more than 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. The team weighted criteria 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 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses 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 28,000 customer reviews across 155 car insurance companies. We also consider 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 U.S., 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 scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Cheapest rates: Westfield

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IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
NR
$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.
$86/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.
$103/mo

Nashville homeowners looking for the best coverage rates can check out Westfield. This regional insurance company was founded in 1848 and is based in Ohio. It offers a variety of insurance products, including condo, auto, business, and renters insurance.

Westfield provides home insurance products for condos, renters, and high-value homes. You can also buy additional coverage options, including flood insurance, which is useful for Nashville homeowners who live in higher-flood-risk areas.

Pros
  • Low home insurance rates

  • Long company history

Cons
  • No online quotes

  • No discounts listed on its website

Best insurer for flood insurance: Allstate

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IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.9/10
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

More than 90 years ago, Allstate got its start as an auto insurance company. Today, it’s expanded its offerings to include property, business, and life insurance.

Nashville homeowners who live in higher-risk flood areas can take advantage of Allstate’s flood insurance options. Homeowners can purchase a policy online from Beyond Floods through National General, which is an Allstate company. You can also purchase a policy through an Allstate agent for the National Flood Insurance Program (NFIP).

Pros
  • Offers coverage for home-sharing through the HostAdvantage program

  • Online quotes available

Cons
  • Below-average J.D. Power customer satisfaction rating

  • Below-average J.D. Power claims satisfaction rating

Best insurer for replacement cost coverage: 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-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.0/10
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.
$154/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.
$231/mo

Erie insurance covers 12 states, including Tennessee. The company got its start in 1925 in auto insurance. Today, Erie has expanded to provide home, life, and business insurance.

With Erie, you can get a policy with guaranteed replacement cost coverage. This means you have coverage to rebuild your home to its previous size and specifications. If a tornado or earthquake seriously damages your home, you can have peace of mind knowing that you have enough coverage to rebuild from the ground up.

Pros
  • A+ (Superior) AM Best financial strength rating

  • Top J.D. Power customer satisfaction rating

Cons
  • No online quotes; must speak to an insurance agent

  • Available in only 12 states

Best insurer for mortgage-free homeowners: Auto-Owners

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-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.5/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
837
$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.
$148/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.
$203/mo

Auto-Owners was established in 1916 with headquarters in Michigan. Today, it offers a range of insurance products, including life, business, motorcycle, condo insurance, and rental property insurance.

Eligible Nashville owners without a mortgage or line of credit can take advantage of the Auto-Owners mortgage-free discount. Even if you have a mortgage, you’re still in luck. Auto-Owners offers a wide range of discounts, including ones for homes with automatic backup generators and whole-home water shut-off systems.

Pros
  • Above-average J.D. Power customer satisfaction rating

  • Large selection of policy discounts

Cons
  • Doesn’t offer wind mitigation discounts in Tennessee

  • No online quotes; must speak to an independent insurance agent

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Cheapest home insurance in Nashville

A variety of factors influence the cost of home insurance, including the age of your home, type of insurance, ZIP code, credit history, and claims history. Westfield offers Nashville homeowners the cheapest insurance, at an average monthly cost of $92 for $300,000 of dwelling coverage.

You can find additional cheap home insurance options in the table below.

Insurance Company
Average Annual Premium
Westfield$1,099
American National$1,267
Allstate$1,417
Erie$1,863
Auto-Owners$1,934
USAA$1,961
ASI Progressive$2,037
State Farm$2,106
Tennessee Farmers$2,112
Farmers$2,541

Cost of homeowners insurance in Nashville

The average cost of homeowners insurance in Nashville is $2,324 per year, or $194 per month, for $300,000 in dwelling insurance with a $1,000 deductible. But many factors can affect the cost.

In Nashville, the cost of homeowners insurance coverage can vary based on the type of materials used to construct your home, the age of your home, and whether you live in an area prone to natural disasters. Comparing multiple homeowners insurance companies can help you find the one that’s right for you.

Cost of homeowners insurance by dwelling coverage amount

Dwelling insurance covers the structure of your home and is part of a standard homeowners insurance policy.[2] Dwelling coverage often includes detached structures, such as a garage or deck.

When purchasing dwelling insurance, you want to make sure you have enough to cover the cost of rebuilding your home. If you require a larger coverage limit, you’ll pay a higher rate.

The table below shows the average annual premium for different coverage limits for Tennessee home insurance policies with a $1,000 deductible.

Coverage Limit
Average 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 of money you’re responsible for paying before your insurance coverage kicks in. Generally, choosing to pay a higher deductible can result in a lower monthly premium.

An easy way to save money on insurance is by raising your deductible. Before raising your deductible, make sure you can afford to pay it if you have to file a claim.[3]

See how the deductible amount you choose can change your average annual premium in Nashville in the table below. Rates shown are for policies with $300,000 in dwelling coverage.

Deductible Amount
Average Annual Premium
$500$2,386
$1,000$2,324

How to get cheap homeowners insurance in Nashville

If you’re trying to keep your homeowner insurance premium as low as possible, here are some things you can do:

  • Increase your deductible. Raising your deductible from $500 to $1,000 can save you as much as 25%. If you live in an area prone to natural disasters, your insurance company might require you to have a separate deductible to cover associated losses. For example, since Tennessee is prone to tornadoes, some insurance companies might require a separate deductible for wind damage.[4]

  • Bundle your insurance. Many insurance companies offer discounts ranging from 5%–15% off your premiums if you bundle multiple policies. You can bundle your home, auto, or liability coverage to save.

  • Make your home more secure. Your insurance company may give you a discount of at least 5% if you have safety features like smoke detectors or an alarm system. If you install more advanced safety and security features, like a sprinkler system, your premium could drop by as much as 15%–20%.

  • Improve your credit. Insurance companies in Nashville can use your credit history when calculating your insurance premiums. Generally, a higher credit score can help lower your insurance costs.

  • Comparison shop. Insurance premiums can vary between companies. This means you can save money simply by getting home insurance quotes from multiple companies before you make a decision.

  • Look for discounts. You can increase your savings by looking for companies that offer different discounts. For example, some insurers offer loyalty discounts or discounts for purchasing a new home.

Read More: Best Home Insurance Discounts and How to Get Them

Read More: Best Home Insurance Discounts and How to Get Them

Tennessee homeowners insurance rates by city

Homeowners insurance rates in Tennessee can vary between cities and ZIP codes within a city. Different areas in the state have unique risks that can affect your premiums.

Some factors that influence the rate of homeowners insurance in Tennessee include proximity to a fire station, the rate of neighborhood theft, and the risk of tornadoes, earthquakes, and flooding in your area.

City
Average Annual Premium
Antioch$2,397
Chattanooga$2,208
Clarksville$2,405
Columbia$2,562
Hendersonville$2,277
Jackson$2,983
Knoxville$2,126
Memphis$3,012
Murfreesboro$2,403
Nashville$2,324

How much homeowners insurance do you need in Nashville?

If you have a mortgage, your lender will require you to purchase a home insurance policy. How much homeowners insurance you need generally depends on the amount you’d need to rebuild your home, replace your belongings, and cover the cost of living outside your home if a fire or disaster damages it. The price you paid for your home could be higher or lower than the cost to rebuild.

Most standard insurance policies include the following types of home insurance coverage:

  • illustration card https://a.storyblok.com/f/162273/150x150/59f0e4ac83/types-of-houses-96x96-yellow_029-mansion.svg

    Structure of home

    Dwelling coverage and other structures coverage pay to rebuild or repair your home if a covered peril damages it.

  • illustration card https://a.storyblok.com/f/162273/100x100/32ed42213e/personal-property.svg

    Personal belongings

    Personal property coverage protects items like your clothes, sports equipment, and furniture.

  • illustration card https://a.storyblok.com/f/162273/100x100/e0a53737be/health.svg

    Liability coverage

    Liability insurance covers you if someone is hurt on your property, and it also pays for any damages your pet causes.

  • illustration card https://a.storyblok.com/f/162273/150x150/ef16468ce5/buildings-96x96-orange_svg-019-hotel.svg

    Additional expenses

    If you can’t live in your home due to a fire or other covered disaster, loss of use coverage may pay for a hotel and other living expenses.

To ensure you have enough protection, make sure you understand exactly what your home insurance policy covers.

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

Homeowners in Nashville face several risks, including:

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

    Tornadoes

    Since 1950, there have been 1,403 tornadoes on record in Tennessee, with most occurring in March, April, and May.[5] The average number of tornadoes per year in Tennessee is 31. Many standard insurance policies cover damage caused by wind, rain, trees, and other falling objects. But it’s important to contact your insurance company to confirm your coverage.

  • illustration card https://a.storyblok.com/f/162273/150x150/0194b78427/weather-96x96-orange_043-flood.svg

    Flooding

    In May 2010, Tennessee experienced catastrophic flooding that resulted in 11 fatalities in the Greater Nashville area and more than $2 billion in flood damage. Most standard homeowners insurance doesn’t cover flooding. Instead, you can buy a separate flood insurance policy through the National Flood Insurance Program (NFIP). A flood policy offers building and content coverage to protect your home and belongings.

  • illustration card https://a.storyblok.com/f/162273/x/a0c151e1ba/accidental-tearing-apart-cracking-etc.svg

    Earthquakes

    Western Tennessee is situated in the New Madrid Seismic Zone (NMSZ). Every year, hundreds of small earthquakes occur across the NMSZ. While many are too small for detection, this puts Tennessee residents at a higher risk for earthquakes. Standard home insurance policies typically don’t cover damage from earthquakes. Instead, you’ll need to consider a separate earthquake policy for coverage.

Many states where homeowners find it difficult to insure high-risk properties through private insurance provide access to a FAIR (Fair Access to Insurance Requirements) Plan. But Tennessee doesn’t participate in this program.

Nashville homeowners insurance FAQs

If you’re shopping for home insurance in Nashville, this additional information may help as you research which policy is best for you.

  • How much is home insurance in Nashville?

    Home insurance in Nashville costs $2,234 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible, Insurify data shows. But your rates will depend on many factors, including your ZIP code, the age of your home, the square footage of your home, and the coverage levels you choose.

  • Which company has the cheapest homeowners insurance in Nashville?

    Westfield has the cheapest homeowners insurance in Nashville, with annual rates of $1,099. American National and Allstate also offer affordable coverage, with respective annual premiums of $1,267 and $1,417.

  • Does Nashville require homeowners insurance?

    No. Nashville doesn’t require homeowners insurance, but if you have a mortgage on your home, your lender will require you to have it to protect its asset. Home insurance protects you financially if something damages or destroys your home and you have to make extensive repairs or rebuild.

  • Which homeowners insurance company has the highest customer satisfaction?

    Erie Insurance earned J.D. Power’s top customer satisfaction rating in the 2023 U.S. Home Insurance Study. The insurer writes policies in 12 states, including Tennessee, so it’s worth considering if customer service is important to you.

Sources

  1. National Oceanic and Atmospheric Administration. "Average Annual Number of Tornadoes per State."
  2. Insurance Information Institute. "What is covered by standard homeowners insurance?."
  3. Insurance Information Institute. "Understanding your insurance deductibles."
  4. Tennessee Department of Commerce & Insurance. "Post-Disaster Claims Guide."
  5. National Weather Service. "Tennessee Tornado Stats."
Jessica Martel
Jessica Martel

Jessica is a freelance writer, professional researcher, and mother of two rambunctious little boys. She specializes in personal finance, women and money, and financial literacy. Jessica is fascinated by the psychology of money and what drives people to make important financial decisions. She holds a Masters of Science degree in Cognitive Research Psychology.

Ashley Cox
Edited byAshley CoxSenior Managing Editor
Headshot of Managing Editor Ashley Cox
Ashley CoxSenior Managing Editor
  • 7+ years in content creation and management

  • 5+ years in insurance and personal finance content

Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.

Featured in

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