Tennessee Homeowners Insurance

Tennessee homeowners insurance premiums cost around $58 per month, but the age of and risk associated with your home will increase your rates. For example, if you own a pool or trampoline, you may see your Tennessee home insurance rates go up. Installing a fence around the pool can lower your rates, and so can comparison shopping online. Start here and get free Tennessee homeowners insurance quotes with our ZIP code search below.

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Natasha McLachlan is a writer who currently lives in Southern California. She is an alumna of California College of the Arts, where she obtained her B.A. in Writing and Literature. Her current work revolves around insurance guides and informational articles. She truly enjoys helping others learn more about everyday, practical matters through her work.

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent

UPDATED: Jul 16, 2021

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Tennessee homeowners insurance premiums cost around $692 annually ($58 monthly) on average. The premiums are then distributed by the insurance company over several parts of the policy, the main sections being the Dwelling, other structures, your personal property and the loss of use provisions.

When a risk associated with your home insurance causes you to file a claim, how the insurance company handles the claim will depend on which of these primary sections of the policy are influenced.

Because of that, understanding the sections and potential perils can help you customize your policy for more effective protection without spending an arm and a leg to do so.

What does Tennessee homeowners insurance cover?

  1. Dwelling
    The family home is the dwelling, for insurance purposes. This includes the house and any buildings which are permanently affixed to the house. If your garage can be accessed directly from inside the house without going outside or through a breezeway, it is part of the dwelling. If it cannot be entered this way, it is an “other” structure and is covered under the other structures section of the policy.
  2. Other Structures
    Other structures are any permanent buildings on the insured property which are not connected to the house in such a way that the dwelling would be damaged if the structure were to be removed. Typical examples of “other” structures include a boathouse, a fence, and a guest cottage. Other structures on the insured property may be numerous, but they rarely have a value that is even close to that of the dwelling, even when the costs are added together.
  3. Personal Property
    Personal property is easy to define but can be difficult to document. If you own it, and the item is not part of the dwelling or other structures, it is part of your personal property. To get the most complete listing of your personal property, use a video recorder, and move throughout the property, room to room and structure to structure, recording everything from floor to ceiling. Personal property includes electronics, clothing, dishware, appliances and jewelry inside the home, but it also includes sporting equipment, tools and decorative items outside as well. Keep in mind that having the receipts for your property will help you out tremendously if you have to file a claim.
  4. Loss of Use
    When a named peril causes you to lose the use of part of the home, or destroys the home completely, your expenses related to that loss can be claimed under the loss of use portion of your home insurance contract. It is not necessary for the home to be destroyed, only that it makes the home unusable for a limited time. As with your personal property, save any receipts for purchases, because having receipts for a loss of use claim can mean the difference between a quick, satisfactory settlement and one that drags out for years.

Average Tennessee Homeowners Insurance Rates vs. US

Source: USCB

Cheaper Tennessee Home Insurance

Your home does not have to be one of the 10.12 out of every 1000 homes that are burglarized every year, and reducing that risk can also save you money on your premiums. You can also save money on insurance by performing regular home maintenance and improving your personal credit score. The cost of insurance is based on risks, and the less risky you are to insure, the less you will pay for insurance of all types, including your home coverage.

  • Home Security
    A secure home is less expensive to insure than one without any security measures. Even a simple fence around the property serves as a barrier to unwanted visitors, and such things as deadbolt locks or burglar bars make the home even safer. In fact, one of the best homeowner’s insurance discounts comes from having a professional security system installed, saving your money in the short term while it protects your family and your property over the long term.
  • Reduce Insurance Risks
    Insurance companies provide insurance against certain risks, including damage caused by falling limbs or trees. Many people do not know it, but if you file a damage claim due to a fallen tree, the insurance company can deny the claim if the tree has been dead for a while and you have not made any effort to remove it. Keeping your home safe from common hazards is your responsibility, and doing so will also result in a long term savings on your insurance premiums.
  • Credit Score and Insurance Risk
    Your credit score is more than the easy way to get approved for a loan, it is also the easiest way to get discounts on your home or car insurance. Insurance companies, like other financial institutions, use your credit score to determine how risky you will be to insure. By keeping your credit score at 650 or higher, you are also telling the insurance company that you deserve a discount on your insurance.

Home Characteristics Affecting Tennessee Insurance Rates

Maintenance on your home can reduce the risks of insuring it in a state where the average age of a home is 29 years, because older homes are more likely to experience degradation due to improper care over long periods of time. Another factor that has to be considered is the price of the home, and in Tennessee the average home price is near $137,300. By being a responsible home owner, you can not only live in a nicer home, you can save money on insuring it.

Local Natural Disasters Tennessee Homeowners Should Consider Protecting Against

All states experience some forms of natural disasters, and it is the responsibility of homeowners to know what could happen to their home and take steps to prevent becoming a victim. Take a look at the following list of common perils and their likelihood, then check your policy to find out which ones are not covered. If necessary purchase additional coverage, such as flood insurance, to round out the protection you need for your home.

  • Earthquakes
    Ranked at 15 out of 51, Tennessee has the potential to be hit by an earthquake in any given year. It might be a wise decision to purchase earthquake coverage, even if you are forced to go through the FAIR plan or other government endorsed agency to do so.
  • Flood
    Tennessee homeowners in 2009 filed 4,702 claims, which is approximately 10 percent of those filed nationwide. Since flooding is not covered in a standard policy, it would be a good idea to contact local high risk insurers or the Department of insurance to find out how you can get this coverage.
  • Hail
    Hail damage is usually associated with wind, where home insurance is concerned. You only worry here would be if, for some reason, hail has been specifically excluded from your policy. This does not happen often, but if it does, contact your insurance company and ask about getting the coverage, just to be safe.
  • Hurricanes
    Tennessee is periodically hit by hurricanes and you should take reasonable steps to protect yourself and your home. Aside from the possibility of flooding most hurricane damage is covered under other parts of your policy. Be careful, though, that hurricane related damages are not specifically excluded, and purchase the coverage separately if they are.
  • Tornadoes
    With only 54 tornadoes reported in an average year, Tennessee is not a problem for this peril. Your main concern would be if your policy has a specific exclusion for them, but that is a rare circumstance and can usually be corrected by adding a rider on top of the existing policy.
  • Wildfires
    74,749 wildfires happen each year, and Tennessee can expect to see some of those. In most cases, wildfire is already covered by a standard policy but it is important to read your policy carefully in case there are special exclusions you need to take action on.

Tennessee Homeowners Insurance Optional Coverages

Liability insurance pays for the injuries that someone else suffers on your property, including any costs associated with being sued after the injury, but the standard home insurance policy rarely provides enough coverage to prevent someone from going after your personal assets in a lawsuit. You can remedy this by picking up an umbrella policy which will give you coverage above and beyond the limits of your home insurance. Personal property works in much the same manner, with only a percentage of the home policy being applicable to personal property losses, regardless of how much property you lose. To solve this, you can either get an extension of the home policy, or buy a separate personal property policy to pick up where the home policy leaves off.

Important Contact Information

Tennessee Department of Insurance
500 James Robertson Parkway
Davy Crockett Tower
Nashville, Tennessee 37243-0565
Phone: (615) 741-2241

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