Average renters insurance cost in Tennessee

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Renters in Tennessee pay an average of $309 per year, or $26 per month for renters insurance. This is based on a standard policy covering $40,000 in personal property, $300,000 in liability, and a $1,000 deductible – a reasonable baseline for most renters.

What you actually pay will depend on your coverage amount, which insurer you choose, and personal details like your ZIP code, claims history, and in some states, your credit score.

How much does renters insurance cost in Tennessee?

The average monthly cost of renters insurance in Tennessee is $26 for a policy with $40,000 in personal property coverage and $300,000 in liability protection. Premiums can shift depending on where you live, how much coverage you need, and the total value of your belongings – which is why getting quotes from several insurers is a smart move.

Generally speaking, raising your deductible lowers your monthly premium, while adding coverage for valuables like jewelry or electronics increases it. Choose a deductible and coverage level that fits both your budget and replacement needs.

Renters insurance in Tennessee: Where to start

Renters insurance in Tennessee averages $309 per year, or $26 per month for a standard policy
If you’re looking for the lowest price, Farm Bureau Insurance of Tennessee tends to offer the most competitive rates in Tennessee, averaging around $159 per year
Since pricing varies widely between providers, it pays to compare a few options before making a decision

Which companies offer the cheapest renters insurance in Tennessee?

The most affordable renters insurance in Tennessee comes from Farm Bureau Insurance of Tennessee, which averages $159 per year. American National Finance and State Farm are also competitive options for budget-conscious renters.

Keep in mind that the cheapest policy isn’t always the right one – coverage limits, deductibles, and available discounts all matter. The table below compares average annual and monthly rates from leading insurers in Tennessee.

Company	Average annual rate	Average monthly rate
Farm Bureau Insurance of Tennessee	$159	$13
American National Finance	$163	$14
State Farm	$209	$17
Auto-Owners	$256	$21
Shelter Insurance	$275	$23
Farmers	$356	$30
Erie Insurance	$428	$36
Westfield Insurance	$445	$37
Travelers	$623	$52
USAA*	$179	$15

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

Want a more accurate renters insurance estimate?

Use our calculator to get a personalized renters insurance quote based on your location and coverage needs.

Your final premium may vary depending on the insurer, coverage limits, deductible, claims history, and other rating factors.

Renters insurance calculator in Tennessee

$291/year

Estimated renters insurance rates in Tennessee

$24

Monthly renters insurance cost in Tennessee

Compared to national average

How much does renters insurance cost by coverage level in Tennessee?

The average annual cost of renters insurance in Tennessee is $309, with a personal property coverage limit of $40,000, $300,000 in liability coverage and a $1,000 deductible.

However, if you lower your personal property coverage from $40,000 to $20,000, you can expect to pay $222 a year for renters insurance in Tennessee. Make sure $20,000 is enough to cover your belongings before deciding to adjust your coverage.

The table below shows average annual renters insurance premiums in Tennessee for personal property coverage of $20,000 and $40,000.

Coverage level	Average annual renters insurance rate	Average monthly renters insurance rate
$20,000 with $500 Deductible and $100,000 Liability	$231	$19
$20,000 with $500 Deductible and $300,000 Liability	$246	$21
$20,000 with $1,000 Deductible and $100,000 Liability	$208	$17
$20,000 with $1,000 Deductible and $300,000 Liability	$222	$19
$40,000 with $500 Deductible and $100,000 Liability	$329	$27
$40,000 with $500 Deductible and $300,000 Liability	$347	$29
$40,000 with $1,000 Deductible and $100,000 Liability	$291	$24
$40,000 with $1,000 Deductible and $300,000 Liability	$309	$26
$60,000 with $500 Deductible and $100,000 Liability	$428	$36
$60,000 with $500 Deductible and $300,000 Liability	$450	$38
$60,000 with $1,000 Deductible and $100,000 Liability	$379	$32
$60,000 with $1,000 Deductible and $300,000 Liability	$400	$33

People also ask: How much renters insurance coverage do I need?

Most renters need enough coverage to replace their personal belongings and protect against liability claims. A common starting point is $20,000 to $40,000 in personal property coverage and at least $300,000 in liability protection. That said, the right amount really depends on the value of what you own, any endorsements you might add for higher-value items, and how much risk you’re comfortable carrying yourself.

How much does renters insurance cost by city in Tennessee?

Renters insurance premiums can differ depending on where in Tennessee you live. Factors like local crime rates, weather patterns, and the density of the area all play a part in what insurers charge.

Here’s how average renters insurance rates compare across major cities.

Renters insurance rates in Tennessee by city

See rates in your city

Does your ZIP code affect renters insurance rates in Tennessee?

When it comes to pricing renters insurance, your ZIP code carries a lot of weight. Insurers look at the risk profile of your specific area – including local theft levels, weather exposure, and claims history – to determine your rate. Two renters with identical policies can pay very different premiums simply because of where they live.

Across Tennessee, annual premiums range from around $261 in 37686 to $425 in 38077. The cheapest and most expensive ZIP codes in Tennessee are listed below.

Why your ZIP code affects renters insurance costs

Renters insurance premiums are calculated using localized risk data, so rates can vary considerably depending on your neighborhood and ZIP code.

Factors that influence pricing include:

Local rates of theft and vandalism
Exposure to weather events such as wildfires, floods, or hurricanes
Fire incident history and repair costs in your area

A change of just a few ZIP codes can meaningfully affect your monthly rate.

What are the most affordable ZIP codes for renters insurance in Tennessee?

Among all ZIP codes in Tennessee, 37686 has the lowest average annual renters insurance rate at $261.

Lower theft rates and fewer weather-related claims are the main drivers behind more affordable premiums in these areas.

ZIP code	City	Average annual rate	Average monthly rate
37686	Piney Flats	$261	$22
37664	Kingsport	$262	$22
37604	Johnson City	$263	$22
37617	Blountville	$264	$22
37663	Colonial Heights	$264	$22
37659	Jonesborough	$264	$22
37778	Lowland	$266	$22
37620	Bristol	$267	$22
37618	Bluff City	$269	$22
37650	Erwin	$269	$22

What are the least affordable ZIP codes for renters insurance in Tennessee?

38077 carries the highest average renters insurance cost in Tennessee at $425 per year, or $35 per month.

Below are average annual renters insurance rates for every ZIP code in Tennessee.

How to lower your renters insurance, even in a high-cost ZIP code

Compare quotes from a minimum of 3 insurers – pricing for the same coverage can vary by over $100 within a single ZIP code
Bundle renters and auto insurance with the same provider to unlock savings of 5% to 15%
Look into discounts tied to safety features. Smoke detectors, deadbolts, security cameras, and smart home systems can all qualify
Consider raising your deductible to $1,000 if it’s currently $500 – the savings can be around 10% annually
Ask your insurer about claims-free discounts if you’ve gone 3 or more years without filing

ZIP code	City	Average annual rate	Average monthly rate
38077	Wynnburg	$425	$35
38080	Ridgely	$404	$34
38079	Tiptonville	$404	$34
38254	Samburg	$396	$33
38070	Tigrett	$396	$33
38127	Memphis	$394	$33
38047	Lenox	$393	$33
38007	Bogota	$391	$33
38034	Friendship	$379	$32
38240	Obion	$377	$31

Is renters insurance worth it in Tennessee?

For most renters in Tennessee, a renters insurance policy protects your belongings from risks like fire, theft, vandalism, and certain weather events, and shields you from liability if someone is injured inside your home.

According to figures from the US Department of Commerce, the US Census Bureau, and the American Community Survey, approximately 48% of US renter households allocate more than 30% of their income toward rent and utilities. When housing already takes up a large share of your budget, it’s worth being thoughtful about every ongoing cost – including insurance.

Shopping around makes a real difference. Beyond price, look at what each policy actually covers, what the deductible is, and how the insurer performs when claims are filed. Slightly higher premiums can be worthwhile if the coverage is meaningfully better.

Frequently asked questions

What does renters insurance actually cover?

A standard renters insurance policy covers personal belongings, liability, and additional living expenses if your rental becomes unlivable. It protects against losses from events like fire, theft, and vandalism, and can cover legal or medical costs if someone is hurt on your property. Always check the specific limits and exclusions in any policy you’re considering.

Do I really need renters insurance in Tennessee?

While renters insurance isn’t legally required in most cases, it provides real financial protection that’s hard to replicate otherwise. Even a basic policy can cover thousands of dollars in losses from theft, fire, or accidental damage – costs that would otherwise come straight out of pocket. Many landlords in Tennessee also make renters insurance a condition of the lease.

Sources:

Insurance Information Institute. Facts + statistics: Renters insurance. Accessed May 2026.

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Alisha Ambre

Alisha Ambre holds a Bachelor of Arts with honours in English Literature and Media Studies. She focuses on crafting clear, engaging content that makes complex information feel practical and approachable for everyday readers. When she’s not writing, she’s likely on the volleyball court or immersed in a good video game.