Tennessee has given us many comfort foods and beverages, like cotton candy, Moon Pies, Mountain Dew, and Tennessee whiskey. And although home insurance didn’t originate in Tennessee, the state does offer competitive home insurance policies, if that’s what you’re craving.
But which home insurance policy is best for you? Do you legally need home insurance? What’s the average cost of home insurance in Tennessee?
Read on, and we’ll help answer all your home insurance questions, so you can confidently take out the best policy for your needs.
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Legally, you aren’t required to have home insurance on your house. However, you’ll likely need home insurance if you have a mortgage as part of the lender’s requirements. Most homeowners have a mortgage, so they’ll need to prove they have home insurance in Tennessee to satisfy lending requirements.
However, even if you can afford a home without a mortgage, you should still consider taking out house insurance. Extreme weather, burst pipes, theft and more are still very real threats to your home, so every homeowner should have home insurance in Tennessee to protect their investment.
Tennessee is a beautiful state with many riches for the eyes, from mountain ranges, forest trails, caves and caverns, to tourist attractions like Graceland. But regardless of all Tennessee’s natural beauty, the state also comes with an extensive list of perils that threaten your home’s integrity.
If you want to protect yourself from paying out of pocket for damages caused by perils, you’ll need sufficient home insurance.
Tennessee is vulnerable to these perils:
Although it might not sound like it after that list, Tennessee is a great place to live. It’s also a great place to find home insurance. Keep reading for info on what you are covered for under home insurance.
Many perils threaten your house, like severe thunderstorms, but which are covered by your home insurance plan? As a homeowner, you want to know the perils that face your county in Tennessee, so you can double-check which perils your standard home insurance covers and which threats need additional coverage.
Here’s a comprehensive list of the 10 named perils covered by HO1 insurance (highlighted in blue) and the 16 named perils covered by all other home insurance (e.g., HO2, HO3, and HO5).
| Named Perils | |||
| Lightning or Fire | Explosions | Windstorms or Hail | Riots |
| Aircraft Damage to your property | Vehicle Damage to your property | Smoke | Vandalism |
| Theft | Volcanic Eruptions | Weight of Ice, Sleet, or Snow | Freezing |
| Accidental Tearing, Cracking, Bulging, or Burning of A/C, Hot Water, or Fire Systems | Accidental Damage Caused by Short Circuit | Accidental Water, Steam Discharge or Overflow | Falling Object Damage |
You may be wondering where flooding or sinkholes are and whether they’re supposed to be on the list: The answer is no, traditional home insurance doesn’t cover these perils. If you’re interested in taking out flooding insurance, you can either go through the state or FEMA.
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Homeowners insurance in Tennessee can provide you with the same smooth comfort that the famous Tennessee whiskey can, but you must know which perils aren’t covered so you can make adjustments as needed. For instance, if you want sinkhole coverage, you can add an endorsement to your policy if you know it’s not covered.
These are the perils not covered by traditional home insurance policies:
Remember to consider the known perils of your county, so you can buy additional endorsements or policies as needed. For example, if you’re in a flood zone, you may wish to purchase flood insurance through the state.
Here’s the not-so-great news: the average cost of homeowners insurance in Tennessee is more than the national average. Tennessee residents can expect to pay around $1,700 annually for $250,000 of dwelling protection.
But don’t worry: we have tips for finding affordable homeowners insurance in Tennessee. Keep reading for that and more.
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Many types of homeowners insurance are available in Tennessee, like HO1 or HO3 plans. The dilemma facing most residents is knowing what each plan offers, so you can confidently pick the best policy for your family.
These are the home insurance policies available to Tennessee residents:
With this in mind, it should be a little easier to find a policy that works for your needs and your budget.
If you live in a high-rise in Memphis or elsewhere in Tennessee, you’ll want condo insurance watching out for your investment. The average cost for HO6 insurance in Tennessee ranges, but you can expect to pay between $500-$650 annually.
For Tennessee residents that call a mobile or manufactured home, home you’ll pay between $400-$1,000 a year to insure your house.
Even if you rent a home in Tennessee, you want home insurance to protect your belongings. The average cost of renters or HO4 insurance is around $200 annually.
Moon Pies or cotton candy; sometimes, it’s hard to pick. The same goes for insurance providers. If you’re in the market for a new insurance company, you want a company with a good reputation, good customer service, and affordable homeowners insurance rates.
Here are some of the top insurance companies in Tennessee:
Be sure to do your research to find the right provider that checks all your boxes, from cost to reputation, and more.
Everybody wants to feel like they got a good deal, especially when it comes to insurance! Here’s how you can keep more of your hard-earned money in your pocket:
You don’t have to spend a fortune to get home insurance coverage you can trust. But you might not want to immediately go with the cheapest home insurance in Tennessee either. These tips will save you money and get you great coverage that helps you sleep at night.
Finding home insurance in Tennessee may not be as fun as taking in the sights at the Great Smoky Mountains National Park. Still, exploring your insurance options will prevent you from paying out of pocket for named peril damages to your property. If you’re looking to purchase home insurance, here are a few extra tips to help match you with the right coverage option:
Next up? Picking out the best policy for you. Start by getting access to free quotes fast here. When it matters, we’ve got you covered.
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Jessica Fox Jessica Fox has been a freelance writer for five years, with a specialty in health, wellness, and insurance. During this time, she’s written for some of the biggest B2B and B2C brands from around the world. Jessica is also the mother of two young daughters and loves coffee, writing, and working out.
