The Best Tennessee Homeowners Insurance Companies
Tennessee’s average annual premiums for homeowners insurance are right in line with the national average — $1149 per year for an HO-3 policy, compared to $1,173 nationwide. That said, how much you’ll pay can vary a lot depending on your home’s size, your assets, and your address. Use our tool to find your best rates:
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Homeowners in Tennessee face a couple of notable weather and terrain challenges. First, tornadoes are a regular occurrence: In 2011 (a particularly rough year), the volunteer state saw 11 tornadoes that were F3 or stronger. Residents of western Tennessee are also close to the New Madrid Fault Line, which means earthquakes are a concern. The good news? Lower-than-average property values offset these potential hazards. Tennesseans pay an average of $1,139 a year for their homeowners insurance, which is right on par with the national average.
Of course, the age of your home and its specific location will affect your personal premium. Do your research to find the policy that fits your home best, giving you coverage you need in the event of an emergency at a price you can afford. We’d recommend getting started with our roundup of the five best Tennessee homeowners insurance companies.
How We Found the Best Homeowners Insurance Providers in Tennessee
We started by taking a careful look at Tennessee’s five largest providers by market share: State Farm, Tennessee Farmer’s Mutual, Allstate, Liberty Mutual, and USAA. Then, just as we did for our national homeowners insurance review, we considered financial scores from Moody’s, A.M. Best, and Standard & Poor’s to be sure that each provider was financially stable enough to pay out on any claims you might make. We also considered customer satisfaction reports from J.D. Power, an agency that tracks consumers’ happiness with each provider’s handling of things like claims and billing. Finally, we took into account how easy it was to get quotes from each provider (and what those quotes looked like), whether they offered resources like educational tools or mobile apps, and the range of discounts they offered.
Tennessee Homeowners Insurance Reviews
Allstate is our top choice in Tennessee — and not just because it provided the lowest quote! Allstate shines for its excellent website and customer service. No matter your question or concern, Allstate will give you an answer you can understand. We especially like the company’s Common and Costly Claims tool, which gives you insights into the most common reasons for claims in your neighborhood. In Nashville’s Davidson County, for instance, the most common reason for filing a claim is for wind damage. We found this type of information incredibly useful when trying to figure out what types of extra coverage we might need. Allstate also has an easy-to-use home inventory tool that allows you to catalog your belongings and estimate value and replacement cost.
With these great online features already in place, it’s no surprise that Allstate also offers an excellent online quote tool. Allstate was the only provider to automatically pull public records on the properties we requested quotes for, which allows it to bring to light any past claims you may not know about. Because of this, its quotes are more accurate than the other providers we assessed: When we called an agent for a quote, we were given one nearly identical to the one we received online.
Our phone call with the Allstate agent was not only useful but pleasant. They were enthusiastic without seeming like they were just giving us a sales pitch, and they offered an immediate quote. This experience, combined with the ease of the online quote process, helped Allstate rise above the rest and grab the top spot for among homeowners insurance providers in Tennessee.
This national standby ranks in the top tier for financial stability from A.M. Best, earning an A++ to edge out Allstate at A+. It also garners high ratings similar to Allstate’s for consumer satisfaction from JD Power and Consumer Reports.
State Farm’s online quote process is straightforward and its website provides useful information about assessing your home’s value, with articles explaining tricky topics such as the difference between market value and replacement cost of your home. However, this educational info isn’t as comprehensive as what’s offered by providers like Allstate and Liberty Mutual (whose “MasterThis” content provides exhaustive knowledge about home repair, maintenance).
The quote provided by State Farm was higher than the others we received. That leads us to believe that more discounts may be available if you pull a quote by speaking directly with a rep rather than comparison shopping online. When we called a local State Farm agent in Nashville, we found them to be willing to offer up all available discount information, and they even asked us deeper questions about our property’s construction to determine if we’d qualify for discounts like impact-resistant roofing. This experience reflects the consistently high ratings State Farms receives for customer satisfaction from Consumer Reports, but it means that State Farm’s quote process isn’t quite as breezy as Allstate’s.
This nationally known provider has another great website and online quote system. Because the questions on their online claim form are more detailed than most providers’, we were more confident of our estimated quote’s accuracy. Liberty Mutual took the time to inquire about details like improvements to our home’s utility systems, plus lifestyle questions that covered such details as whether our property had a trampoline or pets.
Of note is Liberty Mutual’s mobile app. The clean, contemporary design made scrolling and filling out forms very easy even on a mobile screen. Its additional features, like helpful information for how to file a claim, were easy to locate and navigate. Its quite comprehensive; you can use the app to make payments, submit claims, and even view your ID card should you lose it. It shares these features with State Farm and Allstate’s apps, but we found Liberty Mutual’s easier to navigate, and reviewers on the app store seem to agree. Its app is the highest-rated of our top insurers’, with an impressive five-star average.
Calling Liberty Mutual wasn’t as easy as it was for State Farm because you’re calling a central location rather than a local office, so you get a longer phone tree that feels impersonal. However, their representative (once reached) was open and helpful in answering all of our questions. He gave us a quote based on the info we provided, though he explained we’d need to wait a few days for a more customized quote — which came just 24 hours later. That turnaround time was a pleasant surprise!
Tennessee Farmer’s Mutual
Tennessee Farmer’s is well-known local provider, but because of its region-specific service, J.D. Power and Consumer Reports don’t cover it in their ratings. However, the company’s financial stability rating is available from A.M. Best, where it earns an “A” — a slightly lower rating than our other top picks.
Nothing about Tennessee Farmer Mutual’s quote-finding process stood out and it took longer than with other providers. Their website is not as user-friendly or up-to-date as those of Allstate, State Farm, or Liberty Mutual, and you cannot get an online quote right away; you enter some basic info and one of their agents will follow up in a few days. It’s also hard to figure out which discounts they offer from their website. The quote we eventually received was lower than that of other companies, but because it was based on less detail, we weren’t confident that it was fully accurate.
Tennessee Farmer’s does have a blog with some useful information about home safety — and all of it is Tennessee-specific, such as space heater do’s and don’ts that refers to the state’s changing spring weather. This adds a nice local flavor and could be useful if you have property or landscape issues related to your home’s specific region.
What about USAA?
If you or an immediate family member is a member or former member of the military, then you have access to USAA. It’s a highly popular provided and very well-rated in online reviews. However, since it isn’t open to the general public, we didn’t include a sample quote from them. That said, if you are eligible, it should be on your list. Not only is it one of the highest-rated companies according to JD Power, it’s the fourth largest provider in Tennessee.
Quote Analysis of Tennessee Homeowners Insurance Providers
In order to narrow in on our top picks in Tennessee, we requested both an online quote and a quote over the phone from the state’s biggest providers. The home that we used for our sample quote is in the greater Nashville area, and is a modest single-family house with a yard. We chose a sample home with a monitored alarm system, standard fire safety features, and a newer impact-resistant roof (which netted us a discount with all of the providers). Our sample home is valued at about $275,000.
Our quote results varied by as much as $307 per year, showing just how important it is to shop around. Remember that cheaper isn’t always better, though: it’s important to consider the amount of coverage you’re getting (and the deductible, which is what you’ll have to pay out of pocket before insurance kicks in).
- State Farm Mutual: $1,326.00
- Tennessee Farmers Insurance Co.: $1,029
- Allstate Corp. $ 1180
- Liberty Mutual: $ 1290
Discounts can make a big difference! For example, the presence of burglar alarms and various fire protections can reduce your premium by up to 20% even at the same location. If you’re paying around $75/month for your premium, a 20% discount will bump that down to $60/month. (That’s at least a few coffee runs.) No matter what, you’re likely to qualify for at least one type of discount. For instance, all the Tennessee homeowners insurance providers we reviewed offer a discount if you have other plans with them, such as car insurance.
Online quotes are not set in stone, and speaking to an agent could also get different results. When we made calls to individual representatives, we found that they often asked more specific questions about our home’s history and construction than we found via online quote forms.
Optional Tennessee Insurance Coverages to Consider
Homeowners insurance providers in Tennessee are required to offer sinkhole coverage. It’s only one of two states in the nation where this is the true (the other state is Florida). Sure, a sinkhole is a pretty rare event, but it’s more common in Tennessee thanks to limestone in the soil, which allows water to run through and can lead to caverns beneath the ground. If you’re concerned about this risk on your property, you should definitely check with your prospective insurance provider about the cost of adding this coverage.
Flooding is a real issue in some parts of Tennessee, as devastating floods in Nashville within the last ten years have shown. If you’re considering flood insurance, just know that it’s actually not offered through your homeowners insurance provider. Strange, but true! Flood insurance is purchased through the National Flood Insurance Program instead.
You can learn more about flood insurance and even do a quick, easy flood-risk assessment through the National Flood Insurance Program’s website.