Average homeowners insurance cost in Tennessee

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Whether you’re a new homeowner or looking to buy insurance for your current home, securing the right homeowners’ insurance is crucial. Rates may vary depending on your insurance company and the coverage limits you choose.

According to Insure.com’s data analysis, the average cost of homeowners insurance in Tennessee is $3,045 a year.

Continue reading to learn more about homeowners insurance rates in Tennessee by ZIP code and insurer.

Key Takeaways

Homeowners insurance costs an average of $3,045 a year, based on Insure.com analysis.
Of all the ZIP codes in Tennessee, 37664 has the most affordable home insurance rates at around $2,216 annually.
In Tennessee, Progressive provides the most affordable home insurance at an average annual premium of $2,187.

Average home insurance cost in Tennessee by coverage level

In Tennessee, the annual homeowners insurance cost is $3,045, on average for the limits of $100,000 in liability, $300,000 in dwelling coverage and a $1000 deductible.

Increasing your dwelling coverage from $300,000 to $400,000 will raise your annual homeowners insurance premium to $3,751 in Tennessee, with $100,000 in liability protection and a $1,000 deductible. Below are the average costs for homeowners insurance in Tennessee based on dwelling coverage limits of $300,000, $400,000, and $500,000.

Coverage	Average annual rate	Average monthly rate
$200,000 with $1,000 Deductible and $100,000 Liability and None Deductible	$2,356	$196
$200,000 with $1,000 Deductible and $300,000 Liability and None Deductible	$2,369	$197
$300,000 with $1,000 Deductible and $100,000 Liability and None Deductible	$3,045	$254
$300,000 with $1,000 Deductible and $300,000 Liability and None Deductible	$3,060	$255
$400,000 with $1,000 Deductible and $100,000 Liability and None Deductible	$3,751	$313
$400,000 with $1,000 Deductible and $300,000 Liability and None Deductible	$3,768	$314
$600,000 with $1,000 Deductible and $100,000 Liability and None Deductible	$5,334	$445
$600,000 with $1,000 Deductible and $300,000 Liability and None Deductible	$5,353	$446
$1,000,000 with $1,000 Deductible and $100,000 Liability and None Deductible	$8,525	$710
$1,000,000 with $1,000 Deductible and $300,000 Liability and None Deductible	$8,546	$712

In Tennessee, homeowners insurance companies set rates by assessing various risk factors. Your location, claims history, credit history and coverage limit all affect your premium.

If multiple claims have been filed in your neighborhood over the past few years, you’ll likely face higher home insurance rates than areas with fewer claims. Your credit score can also play a role in determining your home insurance costs.

According to S&P Global Market Intelligence’s RateWatch application, the average homeowners insurance premium for owner-occupied homes nationwide increased by over 11% in 2023.

Best homeowners insurance companies in Tennessee

It’s always wise to shop around and compare prices before you buy homeowners insurance. There are many factors that go into deciding the best homeowners insurance company.

We have compared the insurers in Tennessee using their NAIC score and AM Best rating and compiled a list of the best homeowners insurance in Tennessee. Based on the analysis, Auto-Owners received the lowest NAIC score and A++ rating from AM Best. A lower NAIC score indicates fewer complaints relative to the company’s size, suggesting higher customer satisfaction.

Company	Average annual premium	AM Best rating	NAIC Complaint Index	Overall score
Auto-Owners	$2,426	A++	0.33	5
State Farm	$2,518	A++	0.95	4.88
Farm Bureau Insurance of Tennessee	$2,319	A-	0.04	4.84
Allstate	$2,458	A+	0.9	4.83
Farmers	$3,748	A	0.54	4.44
Travelers	$6,580	A++	0.54	3.8
Progressive	$2,187	A+	8.45	3.78

Average homeowners insurance cost by company in Tennessee

Progressive provides the most affordable homeowners insurance in Tennessee, with an average annual premium of $2,187. Farm Bureau Insurance of Tennessee and Auto-Owners also offer cheap home insurance rates.

Shopping around for homeowners insurance can help you save hundreds of dollars annually.

Here are the average annual and monthly insurance rates for homeowners in Tennessee with a policy that provides $300,000 in dwelling coverage, $100,000 in liability protection, and a $1,000 deductible.

Company	Average annual rate	Average monthly rate
Progressive	$2,187	$182
Farm Bureau Insurance of Tennessee	$2,319	$193
Auto-Owners	$2,426	$202
Allstate	$2,458	$205
State Farm	$2,518	$210
Erie Insurance	$3,598	$300
Farmers	$3,748	$312
Travelers	$6,989	$582
USAA*	$2,122	$177

*USAA is only available to military community members and their families.

Tennessee homeowners insurance rates by ZIP code

In Tennessee, insurance companies evaluate the risk associated with specific locations to determine premiums. ZIP codes with higher crime rates or a history of natural disasters are often considered high-risk, resulting in higher insurance premiums. Additionally, the cost of rebuilding or repairing homes in a particular ZIP code can influence your price for a homeowners insurance policy.

Shop around and compare quotes from different insurance companies to find the best home insurance rates in Tennessee. Also, remember to inquire about any discounts, such as bundling policies or smart home discounts, to help lower your premium.

Most affordable ZIP codes for home insurance rates in Tennessee

Home insurance costs vary across different areas in Tennessee. What you pay for homeowners insurance depends on several factors, including your ZIP code. According to our data, the 37664 ZIP code has the lowest home insurance rates in Tennessee, at $2,216 annually or $185 per month.

Here are the homeowners insurance rates for some of the most affordable ZIP codes in Tennessee.

ZIP code	Average annual rate	Average monthly rate
37664	$2,216	$185
37620	$2,243	$187
37660	$2,248	$187
37604	$2,276	$190
37663	$2,279	$190
37686	$2,281	$190
37617	$2,292	$191
37614	$2,306	$192
37659	$2,308	$192
37618	$2,310	$193

Most expensive ZIP codes for home insurance rates in Tennessee

Your ZIP code is a key factor in determining the cost of your homeowners insurance coverage. In Tennessee, certain areas have higher insurance premiums due to elevated crime rates, increased risk of natural disasters, and higher living costs.

38127 has the most expensive homeowners insurance rates in Tennessee at an average annual cost of $4,510.

Below, we’ve highlighted some of the most expensive ZIP codes in Tennessee for home insurance:

ZIP code	Average annual rate	Average monthly rate
38127	$4,510	$376
38114	$4,328	$361
38106	$4,322	$360
38116	$4,285	$357
38108	$4,282	$357
38109	$4,276	$356
38107	$4,248	$354
38128	$4,208	$351
38105	$4,207	$351
38126	$4,144	$345

Home insurance rates vary from one city to another. But with Insure.com, finding the right home insurance policy is easy. Learn more about homeowners insurance costs for different cities below.

Home insurance rates in Tennessee by city

See rates in your city

Home insurance rate trend in Tennessee

We analyzed home insurance rate trends in Tennessee and found that homeowners insurance rates experienced an overall increase of 7% or $188, from 2022 to 2023.

The below data shows how much homeowners insurance rates have changed since 2019.

2019 rates	2022 rates	2023 rates
$2,982	$2,857	$3,045

To find the right homeowners insurance, research thoroughly and compare costs from multiple insurers, as they assess risk differently. Getting quotes from at least three companies helps ensure you get the most affordable coverage in Tennessee.

Resources & methodology

Source

S&P Global. “US homeowners insurance rates jump by double digits in 2023.” Accessed September 2024.

Methodology

Insure.com worked with Quadrant Information Service to get homeowners insurance data. We analyzed 20,739,560 insurance quotes from 82 national and regional insurance companies across 34,588 ZIP codes to determine the average premiums.

The insurance rates are based on a sample profile of a homeowner with good credit and the following coverage level:

$300,000 dwelling coverage
$100,000 liability protection
$1000 deductible

We have taken into account 3 important factors such as average annual cost, NAIC score and AM Best rating, to determine the list of best homeowners insurance companies. The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.