Home Home insurance Average home insurance cost New York Memphis, NY How much is Homeowners Insurance in Memphis, NY By Insure.com's Editor | Updated on November 7, 2023 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. The average cost of homeowners insurance in Memphis is $1,330 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $1,087 less than the national average of $2,417.However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Memphis depend on a number of factors, including: Size of your homeAge of your homeAmount of coverage you needLocationYour credit scoreTo make sure you are getting the best deal on home insurance, it is important to get quotes from multiple insurers to find the right coverage for your needs. Read this guide to know how much homeowners insurance cost per month in Memphis, home insurance cost for different dwelling coverage, also know which companies offer cheap home insurance in Memphis.In this guide, we will explain everything from what coverage options are available to which companies have the cheapest rates for homeowners insurance in Memphis. Key takeaways The average cost of homeowners insurance in Memphis is $1,330 per year.American Family is the cheapest homeowners insurance company in Memphis with an average annual premium of $704.If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $335 more a year for home insurance. How much is homeowners insurance in Memphis per monthMemphis homeowners pay an average of $111 a month, based on our rate analysis. It’s $33 less than the state average of $144 and $90 less than the national average for home insurance across the United States. The price of your homeowners insurance policy in Memphis may vary depending on where you live, the value of your home, and the coverage you choose.How much is homeowners insurance for a $200,000 house in MemphisThe average cost of homeowners insurance in Memphis, NY is $995 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The amount you pay for home insurance each year depends on many different things. The types of natural disasters or events that take place in your area affect how much you pay for coverage in your city.Some areas are more at risk for natural disasters, like flood, hurricanes, or tornadoes. This means that if something happens, the cost of rebuilding would be higher in those areas, thereby leading to higher insurance premiums. Your insurance policy might not cover damage caused by floods or hurricanes. So, if you live in a flood-prone area, consider buying flood insurance coverage.How much is homeowners insurance for a $300,000 house in MemphisAccording to a rate analysis by Insure.com, homeowners in Memphis pay an average of $1,330 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible. If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $335 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.How much is homeowners insurance in Memphis by CompanyAmong the carriers analyzed, American Family is the cheapest homeowners insurance company in Memphis. Its average annual rate for Memphis homeowners is $704. NYCM Insurance ranks second and Travelers makes it to the third spot with an average annual home insurance rate of $1,091.Before choosing a homeowners insurance policy, it is important to do some research on the company. Our experts have analyzed all the insurance companies across Memphis and prepared a list of the top ten cheapest home insurance providers. You can find below the Memphis home insurance companies and their average annual premium.Home Insurance CompanyAnnual rateAmerican Family$704NYCM Insurance$1,022Travelers$1,091Nationwide$1,110State Farm$1,168AIG$1,201Allstate$1,273Chubb Ltd$1,301Heritage Insurance Holdings$1,354Farmers$2,324MethodologyInsure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Memphis for $300,000 dwelling coverage and $100,000 liability coverage with a $1000 deductible. The data presented are those with a good credit tier alignment. How much is home insurance in other citiesAppletonAtlantaBloomingtonDenverHamiltonNew YorkPhiladelphiaPhoenixStafford In case you missed it What is HO-6 insurance? Average homeowners insurance cost by ZIP code in 2024 What is dwelling coverage and how much do you need? Personal liability insurance: What it is and why you need it Renters insurance quotes: Compare rates Hurricanes and home insurance: 14 key questions answered Replacement cost policies for your home: Getting what you pay for How much do claims increase home insurance rates? Mobile home insurance cost and coverage in 2024 Homeowners insurance basics Home Insurance Advisor The Best Cheap Homeowners Insurance of 2021: Guide How much flood insurance do I need? How to bundle home and auto insurance policies to save money The largest home insurance companies by market share Home insurance discounts for cheaper rates Guide to dog liability insurance: cost and coverage Do you have an emergency go-bag? Most Americans don’t 1/1 Related Articles Home insurance calculator: Estimate home insurance cost By Jessica Olson Condo insurance calculator: Estimate your cost By Jessica Olson How to create a home inventory list By Cynthia Bowman Your guide to home insurance deductibles By Kathryn Pomroy Home insurance exclusions: What does homeowners insurance not cover? By Mark Vallet Types of homeowners insurance By Shivani Gite On this page How much is homeowners insurance in Memphis per monthHow much is homeowners insurance for a $200,000 house in MemphisHow much is homeowners insurance for a $300,000 house in MemphisHow much is homeowners insurance in Memphis by CompanyMethodology Get instant quotes now ! Please enter valid zip Get Quotes