- Best condo insurance companies in Tennessee
- Average condo insurance cost in Tennessee
- Condo insurance rates in Tennessee by company and coverage level
- Condo insurance rates by company in Tennessee
- Compare condo insurance rates by city in Tennessee
- Methodology
- FAQ
- Compare Tennessee condo insurance rates with other states
Best condo insurance companies in Tennessee
Based on our analysis, Farm Bureau Insurance of Tennessee is the best condo insurance company in Tennessee among many options. Our insurance experts evaluated pricing and ratings from trusted sources, including the National Association of Insurance Commissioners (NAIC) and AM Best.
Here are the best condo insurance companies in Tennessee, based on our research.
| Company | Annual annual premium | AM Best | NAIC | Insurance.com rating |
|---|---|---|---|---|
| Farm Bureau Insurance of Tennessee | $317 | A+ | 0.08 | |
| State Farm | $461 | A+ | 1.15 | |
| Travelers | $786 | A++ | 0.91 | |
| Farmers | $464 | A | 0.89 | |
| Auto-Owners | $751 | A+ | 0.39 | |
| Erie Insurance | $801 | A | 0.46 | |
| USAA | $802 | A++ | 0.46 |
Average condo insurance cost in Tennessee
The average cost of condo insurance in Tennessee is $674 per year or $56 per month for $60,000 in personal property coverage, $300,000 in liability coverage and a $1,000 deductible. Your actual annual premium will vary depending on:
- Where you live
- Coverage limits and deductible
- Age of the building and construction materials
- Your claims history and credit score
To find the cheapest company for you, compare quotes from multiple insurance providers and choose the coverage that fits your needs.
| Average annual premium | $674 |
| Average monthly premium | $56 |
Condo insurance rates in Tennessee by company and coverage level
Farm Bureau Insurance of Tennessee provides the lowest condo insurance rates in Tennessee for policies with limits of $60,000 in personal property coverage and $300,000 in liability coverage with a $1,000 deductible.
The second most affordable option is Shelter Insurance at $424 per year. However, prices will vary depending on the coverage level you choose.
The table below shows condo insurance rates from top companies at different coverage levels.
| Company | $40,000 contents/$100,000 liability | $40,000 contents/$300,000 liability | $60,000 contents/$100,000 liability | $60,000 contents/$300,000 liability | $80,000 contents/$100,000 liability | $80,000 contents/$300,000 liability | $100,000 contents/$100,000 liability | $100,000 contents/$300,000 liability |
|---|---|---|---|---|---|---|---|---|
| Farm Bureau Insurance of Tennessee | $320 | $325 | $311 | $317 | $321 | $327 | $340 | $346 |
| Shelter Insurance | $351 | $363 | $412 | $424 | $486 | $498 | $563 | $575 |
| State Farm | $414 | $419 | $456 | $461 | $486 | $491 | $515 | $520 |
| Farmers | $393 | $423 | $433 | $464 | $475 | $505 | $517 | $547 |
| Auto-Owners | $606 | $615 | $740 | $751 | $899 | $909 | $1,057 | $1,068 |
| Erie Insurance | $518 | $597 | $694 | $801 | $829 | $961 | $964 | $1,120 |
| Travelers | $760 | $777 | $879 | $899 | $980 | $1,003 | $1,111 | $1,139 |
| Allstate | $859 | $878 | $1,004 | $1,024 | $1,126 | $1,145 | $1,231 | $1,250 |
| USAA | $715 | $715 | $802 | $802 | $880 | $880 | $949 | $949 |
Condo insurance rates by company in Tennessee
The most affordable company is Farm Bureau Insurance of Tennessee, with Shelter Insurance and State Farm ranking as the second and third cheapest. Since condo insurance rates in Tennessee vary by company, it is important to compare quotes to find the best deal.
The table below lists the condo insurance rates from major companies in Tennessee.
| Company | Average annual premium | Average monthly premium |
|---|---|---|
| Farm Bureau Insurance of Tennessee | $317 | $26 |
| Shelter Insurance | $424 | $35 |
| State Farm | $461 | $38 |
| Farmers | $464 | $39 |
| Auto-Owners | $751 | $63 |
| Erie Insurance | $801 | $67 |
| Travelers | $899 | $75 |
| Allstate | $1,024 | $85 |
| USAA | $802 | $67 |
Compare condo insurance rates by city in Tennessee
Condo insurance rates vary by city. Factors like weather, crime rates and property values all play a role in pricing. To find the cheapest and best condo insurance in your city in Tennessee, consider these factors and compare quotes from different insurance companies.
City Annual insurance premium
Methodology
Insurance.com compared condo insurance rates provided by Quadrant Information Services across all 50 states and Washington, D.C.
Average condo insurance rates are based on:
- $60,000 in personal property coverage
- $300,000 in liability coverage
- $1,000 deductible
- Good credit
Rates were also fielded at varying personal property and liability coverage levels for comparison.
FAQ
Is condo insurance required in Tennessee?
No, condo insurance is not require by law in Tennessee, but your mortgage company will require it.
What does condo insurance typically cover in Tennessee?
Condo insurance covers your personal property, the interior of your unit, loss of use and personal liability.
How can I lower my condo insurance premium in Tennessee?
To lower your rates, shop around, ask about discounts and bundle your condo and auto insurance.