Renters insurance is a must-have for renters in Tennessee. It will cover your belongings in the event that they suffer damage from windstorm, fire, thefts or vandalism or any other natural disasters. The average cost of renters insurance in Tennessee is $239 a year.
Insurance experts at Insure.com have analyzed price quotes from all the major renters insurance companies in Tennessee to help you find affordable renters insurance policy. Read this guide to find out which carrier offers cheap rates, better coverage options and excellent customer service. Below is the list of cheapest renters insurance companies in Tennessee:
- Farmers
- USAA
- Allstate
- State Farm
- Travelers
Cheapest renters insurance companies in Tennessee
Based on Insure.com’s analysis, Tennessee’s most affordable insurance company is Farmers. Its average annual rate is $159 or $13 per month. USAA is the second cheapest renters insurance provider among the carriers surveyed. It offers insurance at about $230 year on average.
| Company | Average annual rate | Average monthly rate |
|---|---|---|
| Farmers | $159 | $13 |
| USAA | $230 | $19 |
| Allstate | $298 | $25 |
| State Farm | $315 | $26 |
| Travelers | $320 | $27 |
| Safeco | $421 | $35 |
| Erie | $532 | $44 |
Average cost of renters insurance in Tennessee by coverage level
The average cost of renters insurance in Tennessee is $239 per year or $20 per month.
The cost of insurance varies depending on the insurance company and the coverage limits you choose. Below are the average annual renters insurance rates for different personal property coverage. These rates are for the deductible amount of $1000 and $300,000 as liability protection.
| Coverage level | Avg. annual renters insurance rate | Avg. monthly renters insurance rate |
|---|---|---|
| $20,000 | $239 | $20 |
| $40,000 | $350 | $29 |
| $60,000 | $465 | $39 |
Most affordable ZIP codes for renters insurance in Tennessee
Renters insurance rates vary depending on the zip code. The most affordable zip code for renters insurance in Tennessee is 37664 at about $269 a year on average.
Based on Insure.com’s study, we have put together a list of the most affordable zip codes for renters insurance for Tennessee renters.
| ZIP code | Average annual rate | Average monthly rate |
|---|---|---|
| 37664 | $269 | $22 |
| 37686 | $271 | $23 |
| 37617 | $274 | $23 |
| 37615 | $275 | $23 |
| 37684 | $279 | $23 |
| 37620 | $280 | $23 |
| 37659 | $281 | $23 |
| 37604 | $283 | $24 |
| 37027 | $284 | $24 |
| 37642 | $287 | $24 |
Least affordable ZIP codes for renters insurance in Tennessee
The cost of renters insurance varies considerably across the United States, depending on your location. The weather patterns and crime rates in your area impact how much you pay for insurance. The least affordable zip code for renters insurance in Tennessee is 38127, at an average of $419 a year.
Find below the least affordable zip codes and their average annual rates for Tennessee renters.
| ZIP code | Average annual rate | Average monthly rate |
|---|---|---|
| 38127 | $419 | $35 |
| 38126 | $400 | $33 |
| 38106 | $392 | $33 |
| 38108 | $391 | $33 |
| 38114 | $385 | $32 |
| 38107 | $379 | $32 |
| 38105 | $378 | $32 |
| 38069 | $377 | $31 |
| 37410 | $375 | $31 |
| 38116 | $374 | $31 |
Renters and auto bundle discounts in Tennessee
One of the easiest ways to save money on car insurance is by purchasing both your auto and renters policies from the same company. A renters and auto bundle can save you an average of $107 a year or 7% annually, based on a rate analysis by Insure.com. Renters insurance costs vary depending on your personal situation. Make sure you compare policy quotes before choosing one.
| Company | Average annual rate | Average base annual rate (without bundling) | $ bundle average savings | % bundle average savings |
|---|---|---|---|---|
| State Farm | $1,114 | $1,205 | $91 | 8% |
| Mountain Laurel Assur Co | $1,241 | $1,373 | $132 | 10% |
| Tennessee Farmers Mut | $1,243 | $1,371 | $128 | 9% |
| Auto Owners | $1,334 | $1,404 | $70 | 5% |
| Progressive HI rp | $1,403 | $1,453 | $51 | 3% |
| Travelers | $1,507 | $1,586 | $79 | 5% |
| Erie | $1,601 | $1,806 | $205 | 11% |
| Farmers | $1,651 | $1,774 | $123 | 7% |
| Geico | $1,659 | $1,706 | $47 | 3% |
| Nationwide | $1,670 | $1,797 | $127 | 7% |
| Allstate | $2,464 | $2,584 | $121 | 5% |
