Home Home insurance Condo insurance Best condo insurance Average condo insurance cost in Tennessee Average condo insurance cost in Tennessee Condo insurance in Tennessee costs an average of $616 a year. You can save by shopping around; the cheapest average rate is offered by Tennessee Farmers at only $322. View Carriers Please enter valid zip Compare top carriers in your area Written by Leslie Kasperowicz Leslie Kasperowicz Leslie Kasperowicz is an insurance educator and content creation professional with nearly two decades of experience first directly in the insurance industry at Farmers Insurance and then as a writer, researcher, and educator for insurance shoppers writing for sites like ExpertInsuranceReviews.com and InsuranceHotline.com and managing content, now at Insurance.com. | Reviewed by Laura Longero Laura Longero Laura Longero is a content strategist and communications leader with more than 15 years of experience in content development in journalism, marketing and communications for start-ups to global companies. She started her career as a reporter and editor and honed her journalistic skills at the USA Today Network, working in several roles, as well as managing content and writing at MoneyGeek and XYZ Media. | Expert insight from Brenda Wells Brenda Wells Chair of the Department of Finance and Insurance, East Carolina University.Go to comment | Posted on: August 8, 2024 Why you can trust Insure.com Quality Verified At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry. If you’re shopping for condo insurance in Tennessee, you can expect to pay $616 a year on average. However, you can save by shopping around.Our rate comparison for a condo insurance policy with $60,000 in personal property coverage, $300,000 in liability and a $1,000 deductible found that Tennessee Farmers has the cheapest condo insurance in Tennessee, with an average rate of $322. Below, we’ll explore the cost of condo insurance in Tennessee by company, coverage level and more. Key Takeaways Condo insurance in Tennessee costs an average of $616 annually or $51 a month.The cheapest company for condo insurance in Tennessee is Tennessee Farmers at $322 annually.Shop around and compare your options to find the best condo insurance in Tennessee for your needs. Average cost of condo insurance in TennesseeOur analysis of rates for a condo insurance policy in Tennessee found that the average rate is $616 a year, which is $51 a month. That’s based on a sample policy with $60,000 in personal property coverage, $300,000 of personal liability coverage and a $1,000 deductible.Condo insurance in Tennessee costs $40 less than the national average rate of $656.Average annual premium Average monthly premium$616$51Compare condo insurance rates in Tennessee by coverage level“Condo insurance provides a comprehensive and standardized package of coverages for the condominium owner. The insured gets coverage for both property and liability exposures, and even assessment coverages. Assessments can result after a neighborhood association suffers damage to a piece of commonly-owned property, such as the pool house or the leasing office,” says Brenda Wells, chair of the Department of Finance and Insurance at East Carolina University.How much condo insurance coverage you need will impact what you pay for your policy. Below, we’ve gathered rates for condo insurance in Tennessee at various coverage levels for comparison.Coverage levelAverage annual rates Average monthly rates40000 with 1000 Deductible and 100000 Liability and None Hurricane$521$4340000 with 1000 Deductible and 300000 Liability and None Hurricane$537$4560000 with 1000 Deductible and 100000 Liability and None Hurricane$597$5060000 with 1000 Deductible and 300000 Liability and None Hurricane$616$5180000 with 1000 Deductible and 100000 Liability and None Hurricane$667$5680000 with 1000 Deductible and 300000 Liability and None Hurricane$689$57100000 with 1000 Deductible and 100000 Liability and None Hurricane$739$62100000 with 1000 Deductible and 300000 Liability and None Hurricane$763$64Average condo insurance cost from top companies in TennesseeCondo insurance rates vary by company. We gathered rates from the top condo insurance companies in Tennessee for comparison.Company Average annual rates Average monthly ratesTennessee Farmers$322 $27 Shelter Insurance$358 $30 State Farm$462 $39 Farmers$504 $42 Auto-Owners$574 $48 Erie Insurance$704 $59 Allstate$738 $61 Travelers$908 $76 USAA$796 $66 Note: USAA only offers coverage to military members, veterans and their families. Condo insurance cost by city in TennesseeWhere you live in Tennessee also affects what you pay for condo insurance. Below are the average condo insurance rates for major cities in Tennessee. The cheapest city for condo insurance in Tennessee is Johnson City at an average rate of $580 .CityAverage annual rates Average monthly ratesJohnson City$580$48Chattanooga$610$51Hendersonville$612$51Knoxville$616$51Murfreesboro$621$52Clarksville$631$53Franklin$631$53Nashville$658$55Jackson$680$57Memphis$705$59Best condo insurance companies in TennesseeRates aren’t everything; you want a condo insurance company with a good reputation for taking care of its customers, too. We analyzed rates, customer service ratings and financial stability scores to find the best condo insurance companies in Tennessee.Company groupAnnual premiumAM BestNAIC ratingInsure.com ratingState Farm$462A++0.955Auto-Owners$574A++0.334.34Shelter Insurance$358A0.424.23Allstate$738A+0.94.14Farmers$504A0.544.06Tennessee Farmers$322A-0.043.62Erie Insurance$704A+0.383.39Travelers$908A++0.543.22 Frequently asked questions Is condo insurance required in Tennessee? There is no state law that requires condo insurance. However, if you have a mortgage on your condo, your lender will require that you have a condo insurance policy. What affects condo insurance costs in Tennessee? Condo insurance rates are affected by several factors, including where the condo is located, your credit history, how much coverage you need and claims history (both yours and the unit’s).“A condominium is an individual unit inside a structure filled with adjoining residential units. The same factors that affect the rates on any other residential structure affect the rates on condominiums. The main things we look at in setting insurance rates are the building’s construction and safety features, the geographic location and the occupancy or use of the property,” Wells says. What our expert says Q: What affects condo insurance rates? Brenda WellsChair of the Department of Finance and Insurance at East Carolina University. "The same factors that affect the rates on any other residential structure affect the rates on condominiums. The main things we look at in setting insurance rates are the buildings construction and safety features, the geographic location, and the occupancy or use of the property." MethodologyInsure.com commissioned condo insurance rates from Quadrant Data Services for condo (HO-6) insurance policies in all 50 states and Washington, D.C. Rates were fielded for a condo insurance policy with coverage levels of $40,000, $60,000 and $100,000 for personal property and at $100,000 and $300,000, with a $1,000 deductible.Rates were fielded from 34,588 ZIP codes and 145 companies and were based on a good credit tier where credit is used in calculating rates. Condo insurance cost in other statesAlabama$655/YearAlaska$930/YearArizona$892/YearArkansas$801/YearCalifornia$767/YearColorado$883/YearConnecticut$646/YearDelaware$407/YearFlorida$962/YearGeorgia$872/YearIdaho$499/YearIllinois$614/YearIndiana$590/YearIowa$435/YearKansas$482/YearKentucky$476/YearLouisiana$1,093/YearMaine$362/YearMaryland$642/YearMassachusetts$669/YearMichigan$651/YearMinnesota$423/YearMississippi$765/YearMissouri$485/YearMontana$486/YearNebraska$542/YearNevada$620/YearNew Hampshire$502/YearNew Jersey$484/YearNew Mexico$408/YearNew York$656/YearNorth Carolina$882/YearNorth Dakota$373/YearOhio$573/YearOklahoma$1,071/YearOregon$633/YearPennsylvania$657/YearRhode Island$581/YearSouth Carolina$569/YearSouth Dakota$389/YearTexas$1,007/YearUtah$668/YearVermont$289/YearVirginia$548/YearWashington$616/YearWashington, D.C.$503/YearWest Virginia$373/YearWisconsin$527/YearWyoming$272/YearShow moreLeslie KasperowiczManaging Editor  . .Leslie Kasperowicz is an insurance educator and content creation professional with nearly two decades of experience first directly in the insurance industry at Farmers Insurance and then as a writer, researcher, and educator for insurance shoppers writing for sites like ExpertInsuranceReviews.com and InsuranceHotline.com and managing content, now at Insurance.com. 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