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?

Farm Bureau Insurance of Tennessee offers the most affordable renters insurance in Tennessee, with an average annual cost of $159. American National Finance and State Farm are also worth considering if you’re looking to keep costs down.

Choosing the cheapest insurer isn’t always the best option, so it’s important to review coverage limits, deductibles, and available discounts alongside price. The table below shows average annual and monthly rates from a range of 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 renters insurance premium in Tennessee is $309, based on $40,000 in personal property coverage, $300,000 in liability, and a $1,000 deductible.

Dropping your personal property coverage from $40,000 to $20,000 could bring your annual cost down to around $222. Just make sure $20,000 would actually be enough to replace what you own before making that change.

The table below shows average annual premiums in Tennessee at both the $20,000 and $40,000 personal property coverage levels.

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?

The right amount of coverage depends on the value of your belongings and how much financial risk you’re willing to take on. Most renters do well with $20,000 to $40,000 in personal property coverage and at least $300,000 in liability protection. If you own high-value items like jewelry or electronics, you may want to add endorsements on top of your base policy.

Renters insurance rates in Tennessee by city

See rates in your city

How much does renters insurance cost by city in Tennessee?

Your city within Tennessee can have a real impact on your renters insurance premium. Insurers factor in local variables like crime statistics, weather history, and how urban or suburban an area is when setting rates.

Here’s how average renters insurance costs break down across major cities in Tennessee.

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?

Renters insurance typically covers your personal belongings, liability protection and additional living expenses if your rental becomes uninhabitable. This includes damage or loss from events like fire, theft and vandalism, as well as legal or medical costs if someone is injured in your home. Coverage details vary by policy, so it’s important to review limits and exclusions.

Do I really need renters insurance in Tennessee?

Renters insurance isn’t always required by law, but it’s often worth having because it protects your belongings and provides liability coverage. Even a basic policy can cover thousands of dollars in losses from theft, fire or damage, which can be costly to replace out of pocket. Many landlords also require renters insurance as part 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.