Best Home Insurance Rates In Tennessee

On average, your neighbors pay $95 a month.

See Your Rates
Local Insurance Information

Compare Home Insurance In Tennessee

Tennessee is the home of Jack Daniels, the Grand Ole Opry, and American rock 'n' roll, rockabilly, and blues. Artists such as Elvis Presley, Johnny Cash, and Jerry Lee Lewis all recorded in Memphis. The Volunteer State is also home to the nation’s most visited national park, Great Smoky Mountains National Park. Tennessee’s climate poses a number of homeowners insurance risks, including tornadoes.

Average Tennessee Homeowners Insurance Rates

Tennessee’s average insurance premiums are just about equal to the national average. According to the most recent available data from the Insurance Information Institute, in 2014, the average cost of homeowners insurance in the state of Tennessee was $1,139, only slightly lower than the national average of $1,132. There are 18 states with higher average home insurance rates than Tennessee.

Tennessee Average Annual Homeowners Insurance Rates
  2012 2013 2014
Tennessee Annual Average $1,008 $1,090 $1,139
Tennessee Price Per Month $84 $91 $95
US Annual Average $1,034 $1,096 $1,132
US Cost Per Month $86 $91 $94
National Rank 20 19 19

Choosing a homeowners insurance company in Tennessee should be easier. Actually, it’s already easy; you could just go with whichever company your mortgage lender recommends, but you probably won’t get the best rates that way. The key to finding the best rates is to get a home insurance quotes comparison in Tennessee from multiple companies.

Best Tennessee Home Insurance Companies

Last year, these were the 10 most common home insurance companies reported by QuoteWizard users living in the state of Tennessee. Out of the 16,978 Tennessee homeowners that used QuoteWizard to request insurance quotes last year, 1,220 had no home insurance.

  1. Allstate Insurance
  2. Farmers
  3. Liberty Mutual
  4. Geico
  5. Progressive Casualty
  6. Nationwide
  7. USAA
  8. Erie Insurance
  9. AAA Insurance Co.
  10. Travelers Insurance
Get a quote from some of these top rated insurers! Request Quote Get a Quote From Top Insurers

Why contact every individual company in Tennessee that you want a homeowners quote from when you can just answer a few questions about your home and desired coverage, and get competing quotes from agents? Save time and money with QuoteWizard.

Top 10 Tennessee Home Insurance Company Market Share

Source: Insurance Information Institute
Rank Company Direct Premiums Written (in thousands) Market Share
1 TN Farmers Mutual Insurance Co. $337,047 19.3%
2 Allstate $141,744 8.1%
3 Liberty Mutual $117,992 6.8%
4 USAA Insurance Group $86,103 4.9%
5 Travelers Companies Inc. $85,176 4.9%
6 Farmers Insurance Group of Cos. $68,643 3.9%
7 Nationwide Mutual Group $68,452 3.9%
8 Erie Insurance Group $41,945 2.4%
9 Auto-Owners Insurance Co. $36,596 2.1%

Financial Strength Ratings of Tennessee Home Insurers

Source: A.M. Best (Ratings as of 8/5/2015)

  • TN Farmers Mutual Insurance Co.: A+
  • Allstate: A+
  • Liberty Mutual: A
  • USAA Insurance Group: A++
  • Travelers Companies Inc.: A+
  • Farmers Insurance Group of Cos.: A+
  • Nationwide Mutual Insurance Co.: A+
  • Erie Insurance Group: A+
  • Auto-Owners Insurance Co.: A++
Get a quote from some of these top rated insurers! Request Quote Get a Quote From Top Insurers

Rating Guide

Tennessee Property & Casualty* Insurance Company Market Share

Source: Insurance Information Institute
Rank Company Direct Premiums Written (in thousands) Market Share
1 TN Farmers Mutual Insurance Co. $1,135,613 11.4%
2 Liberty Mutual $802,4851 8.1%
3 Travelers Companies Inc. $468,407 4.7%
4 Allstate $393,024 4.0%
5 Nationwide Mutual Group $322,764 3.2%
6 American International Group $286,000 2.9%
7 United Service Automobile Assurance Co. $274,081 2.8%
8 Geico $267,052 2.7%
9 Progressive $205,502 2.1%
*Represents both home and auto insurance

Home Insurance Rate Factors

Many different factors come into play when insurance companies calculate the cost of homeowners insurance. Some, like the age of your home, are within your control. Others, like crime rates or natural disasters, are beyond your control. Here are some of the factors that affect the cost of homeowners insurance in Tennessee.

Average Home Listing Prices

Home prices can greatly affect the cost of insurance in any given state. A higher average home price generally means higher premiums in that state. For Tennessee, the average listing price is $219,955 as of July 2015, somewhat lower than the national average of $284,748.

Average Burglary Rates

Burglary is a serious and sometimes violent property crime. States with higher average burglary rates generally have higher average home insurance premiums, because the likelihood that someone will need to file a claim is higher. According to data from the FBI Uniform Crime Report, in 2013, Tennessee’s average burglary rate was 785.1 per 100,000 people, which is quite a bit higher than the national average of 610.0 per 100,000.

States with more law enforcement per capita tend to be safer than states with fewer policemen and women. In Tennessee, there are 39.9 law enforcement personnel per 100,000 total citizens, which is a bit higher than the national median of 32 per 100,000.

Home Insurance Hazards

Tennessee is split into three distinct regions, each unique in geography and culture. The state’s climate is typical of the South, though the east is slightly wetter and warmer than the central and western regions, which are more mountainous. Overall, Tennessee experiences hot, humid summers, and mild winters, as well as thunderstorms and tornadoes.

Hot, humid summers: Tennessee is a warm place, where summer lasts from around May to around September, though eastern parts cool off a bit earlier than the rest of the state. Overall, July is the hottest month of the year. To the east, in Chattanooga, the July average high is 90 degrees. In the middle, in Nashville, it’s 89 degrees, and to the west, in Memphis, it’s 92 degrees. Even in October, high temperatures are typically above 70 degrees.

Humidity is also a big factor during Tennessee summers. From June through October, humidity peaks around 90%. As it is essentially moisture in the air, humidity can cause mold and mildew build-up when it gets trapped inside, which can be extremely damaging to your home.

Rain and thunderstorms: Tennessee is the sixth rainiest state, with an average of 54  inches of rain per year, much of it produced by thunderstorms. Tennessee experiences about 50 days of the year with some thunderstorm activity, and most parts average over 100 days of rain per year total. For example, in Gatlinburg, to the east, they average 150 days of rain, and about 55 inches annually; compared to Memphis, to the west, where they average 108 days of rain and 53.7 inches annually. It’s clear that Tennessee receives a lot of rain throughout the year, especially between November and April, with another spike in July.

Thunderstorms are common during winter and spring in Tennessee; they bring heavy rain, strong winds, lightning, hail, and sometimes snow. Tornadoes and flash floods are also consequences of thunderstorms, and, because they’re so common, it’s important to prepare properly. The only way to obtain flood insurance is through the National Flood Insurance Program. Learn more about the NFIP here.

Tornadoes: According to the National Oceanic and Atmospheric Administration, Tennessee averages 12 tornadoes per year, and in 2012, the National Weather Service ranked Tennessee the #9 most tornado-prone state. Tornadoes are the most violent kind of storm, and are particularly severe in Tennessee, the state with the highest proportion of fatalities from tornadoes.

Tennessee Office of the Insurance Commissioner

Insurance Commissioner:
Julie McPeak
Insurance Hotline:
(615) 741 – 2241
Office Hours:
Monday - Friday
9:00 am to 5:00 pm
File a Consumer Insurance Complaint
Complaint Page

Sources: LLC has made every effort to ensure that the information on this site is correct, but we cannot guarantee that it is free of inaccuracies, errors, or omissions. All content and services provided on or through this site are provided "as is" and "as available" for use. LLC makes no representations or warranties of any kind, express or implied, as to the operation of this site or to the information, content, materials, or products included on this site. You expressly agree that your use of this site is at your sole risk.