Tennessee Homeowners Insurance Guide
Get affordable Tennessee homeowners insurance quote rates for free.
Call Now: (866) 845-5337
Tennessee Homeowners Insurance
Explore Tennessee Homeowners Insurance State Guides, Laws and Regulations before You Buy Insurance
The Volunteer State is known as the birthplace of country music, and the heart of gospel music as well. With grand landmarks such as the Country Music Hall of Fame and Graceland, visitors and Tennesseans alike are never short of great music and dancing. What’s often overlooked, is the fact that Tennessee is also home to the most visited national park in the U.S., the Great Smoky Mountains. Between the natural beauty of the Volunteer State and access to some of the best music in the world, Tennessee exudes a great time.
Although the state is home to the Smokies, with a peak elevation of nearly 6,600 feet, the state’s mean elevation is 900 feet. This illustrates the uneven, landlocked nature of Tennessee. As a result of its unique terrain, property owners in the Volunteer State are generally susceptible to loss caused by flood, severe storms and to a lesser extent, wildfires.
What Does Homeowners and Renters Insurance Cover, and How Much Does it Cost?
Tennesseans enjoy reasonable homeowners insurance rates, but fall within the top ten states with the highest renters insurance rates in the country. The state’s uneven terrain unfortunately makes it ripe for flooding. Thus, whether it’s from snow melting or the remnants of a severe storm, the aftermath is often water flowing to farmland and homes that are typically at lower elevations. Due to this unique characteristic, its best for property owners in the Volunteer State to augment their standard homeowners insurance policy with one that covers flood specifically. Tennesseans can find these flood insurance options through the National Flood Insurance Program (NFIP). Although flood is typically excluded from the normal property policy, resulting damage from fire, wind, or perils such as theft, vandalism, and host of others are covered.
Average Homeowners and Renters Insurance Premium
| State | Homeowners | Renters |
| Tennessee | $1,196 | $199 |
| USA | $1,211 | $180 |
Source: Insurance Information Institute (2017)
Which Property Insurance Carrier Should I Choose?
Tennessee’s homeowners insurance market is highly concentrated with the top two carriers controlling over forty-two percent of the market. In fact, the difference between the top carrier and third place one, is almost sixteen percentage points, in terms of market share. That said, the state’s largest carriers are a mix of national and regional ones. Which makes it imperative to compare several homeowners insurance carriers pricing, packages, and overall reputations when searching for the right partner. The national carriers may have incredible assets and be financially stable, but the regional carriers may know the Tennessee area intimately, and as a result are able to provide better coverage, tailored to your specific risks.
Top 5 Home Insurance Carriers in Tennessee
| Company | Market Share |
| State Farm | 23.5% |
| Tennessee Farmers Mutual Insurance Co. | 19.2% |
| Allstate Corp. | 7.7% |
| Liberty Mutual | 7.1% |
| USAA Insurance Group | 6.8% |
Source: Insurance Information Institute (2019)
Whether you’re an Elvis fan, or an outdoor enthusiast, the Volunteer State has something for you to enjoy. Although landlocked, the state has overwhelming beauty, thanks to the Great Smoky Mountains. In addition to the great music and natural beauty, Tennessee also has good homeowners insurance rates.
Tennessee Regulating Agencies And References
