Best Home Insurance In Nashville, Tennessee

Erie has cheapest home insurance in Nashville, $132 a month. Farm Bureau and USAA offer the best service.

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Erie Insurance offers the cheapest home insurance in Nashville, charging rates that average $132 a month citywide. An affordable price is important, but you also need your insurance company to provide coverage that meets your needs and responsive customer service, especially if you ever have to file a claim. Our guide to Nashville’s best home insurance companies is designed to help you find the right coverage at the lowest price.

In this article

How much is home insurance in Nashville?

The average cost of insurance for a typical home in Nashville is $1,929 a year, or $161 a month. This rate is 10% higher than the national average of $146 a month, but also 7% lower than Tennessee’s statewide average of $173 a month.

Insurance companies evaluate several factors about you and your home to determine your rate, including:

  • The age, location and construction style of your home
  • The estimated cost of rebuilding your home, in the event of a total loss
  • Risk factors in your neighborhood, such as weather and crime rates
  • Your credit and insurance history
  • Any discounts you may be eligible to receive

Since each company weighs these factors differently and offers different discounts, you may qualify for a significantly lower rate with one company than you do with others. This is why it’s best to compare home insurance quotes from multiple companies when you shop.

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Which Nashville companies offer the cheapest home insurance?

With rates averaging $1,578 a year, or $132 a month, Erie offers the cheapest home insurance in Nashville. The next-cheapest rates are available from Allstate, $141 a month, and State Farm, $151 a month.

Cheapest home insurance in Nashville
Company Annual rate Monthly rate
Erie $1,578 $132
Allstate $1,694 $141
State Farm $1,810 $151
Citywide average $1,929 $161
USAA $2,044 $170
Shelter $2,076 $173
Farm Bureau $2,374 $198
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Nashville’s best home insurance companies

Among Nashville’s top home insurance companies, USAA and Farm Bureau Insurance have the best customer service. Erie is best for saving money, and Allstate offers the best customer rewards.

Best customer service: USAA and Farm Bureau

USAA has the highest satisfaction rating from J.D. Power among Nashville’s top home insurance companies, while Farm Bureau has the best Complaint Index rating from the National Association of Insurance Commissioners.

J.D. Power’s satisfaction index rankings are based on customer surveys rating home insurance companies on interaction, policy offerings, price, billing, policy information and claims.

USAA’s satisfaction score of 884, on a 1,000-point scale, tops all insurance companies in the nation. Among the companies in our analysis, State Farm has the next-best score, 829, followed by Erie, 827.

USAA is only available to current and former members of the military and their families.

Shelter and Farm Bureau are not included in J.D. Power’s analysis.

Satisfaction scores for Nashville home insurers
Company Satisfaction index ranking
USAA 884
State Farm 829
Erie 827
Segment average 819
Allstate 815
Shelter Not included
Farm Bureau Not Included
Source: J.D. Power 2022 U.S. Home Insurance Study

The NAIC Complaint Index compares insurance companies by confirmed complaints, which are complaints that lead to a finding of fault. A company with a 2.0 Complaint Index rating has twice as many complaints as expected for its size, while a company with a 0.5 rating has half as many.

Farm Bureau’s Complaint Index rating of 0.0 is the lowest, or best, possible score. The next-best Complaint Index ratings belong to Erie, 0.09, and Shelter, 0.15.

Company Complaint Index rating
Farm Bureau 0.0
Erie 0.09
Shelter 0.15
USAA 0.2
State Farm 0.32
Allstate 0.35
National Complaint Index 1.0
Source: National Association of Insurance Commissioners, 2021 data

Best for saving money: Erie

In Nashville, Erie’s rates for homeowners insurance are 18% lower than the citywide average, which makes the regional company a good choice for those seeking to save money on homeowners insurance.

Erie’s high satisfaction score and low Complaint Index rating show that its low rates do not compromise its customer service capabilities. The regional company, available in 12 states and the District of Columbia, is also rated A+ by AM Best, which signifies financial stability.

Best customer rewards: Allstate

In addition to competitive rates, Allstate rewards customers for loyalty and avoiding claims with additional ways to save. For example, the company reduces $100 off your home insurance deductible for each claims-free year. The company’s Claim RateGuard feature protects you from a future rate increase if you do have to file a claim.

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Home insurance for tornadoes and floods in Nashville

Homeowners insurance generally covers your home for damage caused by extreme winds, including tornadoes, but you have to buy separate insurance for floods.

Insurance protection from tornados

Although wind is among the common natural disasters covered in most home insurance policies, it’s best to check to make sure your quote or policy does not contain exclusions.

Some companies promote bare-bones policies as home insurance. These limited policies often protect against fire and a few other perils, but they may exclude extreme wind. In the Nashville area, it’s important for your home insurance policy to include coverage for wind and tornado damage.

Flood insurance in Nashville

Intense rainfall events have been known to cause flooding in Nashville and elsewhere in Middle Tennessee, and this makes flood insurance worth considering in many areas throughout the region.

Most flood insurance is purchased through the government-backed National Flood Insurance Program (NFIP), but certain private companies also offer it. The average price of NFIP flood insurance in Nashville is $942 a year, or $78 a month.

NFIP offers up to $250,000 in building coverage, which generally covers structural damage to your home, and up to $100,000 in contents coverage, which covers damage to your possessions.

Some private flood insurance companies offer higher limits and loss of use coverage. Loss of use covers your temporary living expenses if flood damage leaves your home uninhabitable during repairs. NFIP does not offer loss of use coverage.

Flood insurance is only required if you apply for a mortgage for a home in a high-risk flood zone. However, you can purchase flood insurance on an optional basis if you don’t have a mortgage and/or your home is in a low- or moderate-risk area.

If you’re not sure of your home’s flood risks, or the flood risks of a home you want to buy, you can look it up online in the Flood Map Service Center on the Federal Emergency Management Agency (FEMA) website.

More than one in five flood insurance claims nationwide come from outside of high-risk areas, according to FEMA, which manages the NFIP. This is one of the main reasons to consider flood insurance for a home in a moderate- or low-risk area.

Flood insurance is widely available from FEMA-certified insurance agents throughout Nashville. If your current insurance agent can’t help you, you can find an authorized flood insurance agent on FEMA’s online provider directory.

Methodology

Our rate comparisons are based on homeowners insurance quotes from Quadrant Information Services for a typical detached home in every Nashville ZIP code. Unless otherwise noted, the rates reflect the costs of coverage for a standard HO-3 policy with the following limits and deductibles:

  • Dwelling coverage: $275,000
  • Other structures: $27,500
  • Personal property: $137,500
  • Loss of use: $55,000
  • Personal liability: $100,000
  • Medical payments: $5,000

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