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If you live in a condo, your homeowners association is responsible for insuring the building and common areas, but it won’t cover your personal property if it gets destroyed or damaged. To protect your belongings, you’ll need to buy condo insurance, also known as HO-6 insurance.

The average condo insurance cost in Tennessee is $1,075 annually. However, your rates will vary depending on the coverage limit, zip code, and the insurance company you choose.

Read this guide to compare quotes from major insurance companies and find out which carrier offers the best rates for condo insurance in Tennessee.

Best condo insurance companies in Tennessee

In Tennessee, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, J.D Power score and customer satisfaction rating of all the major insurers across Tennessee. Below are the best condo insurance companies in Tennessee based on Insurance.com's analysis.

  • USAA
  • Erie
  • State Farm
  • Allstate
  • Farmers

Compare best condo insurance companies in Tennessee

While looking for a condo insurance policy cost is important, but it shouldn't be the only thing to consider when buying condominium insurance. You should take into account the insurance company's customer service, financial stability, and claims handling.

Our team of experts has analyzed major insurance carriers across Tennessee using their J.D. Power score and AM Best rating. Based on Insurance.com's analysis, USAA tops the list of the best condo insurance companies with a J.D. Power score of 882 out of 1000 and it also gets an A++ rating from AM Best, which is the highest rating they offer. However, USAA offers its services only to military officials, veterans, and their family members.

With a J.D. power score of 835, Erie ranks second on our list. If not USAA, Erie is another great option for purchasing condominium insurance. Below we provide a list of the best condo insurance companies in Tennessee along with their J.D. Power score and AM Best rating.

CompanyJ.D. Power scoreAM Best rating
USAA882A++
Erie835A+
State Farm835A++
Allstate829A+
Farmers813A
Safeco810A
Travelers800A++

Average cost of condo insurance in Tennessee

The average cost of condo insurance in Tennessee is $1,075 a year or $90 per month. This rate is for the coverage level of $40,000 in personal property, $100,000 for liability protection with a $1000 deductible. Condo insurance rates can be as low as $29 or as high as $130 a month, depending on your location among other factors.

Average annual premiumAverage monthly premium
$1,075$90

CONDO INSURANCE CALCULATOR

Average condo insurance rates in TENNESSEE

$60,000
$1,000
$100,000
37206 - Nashville
Personal Property Coverage $60,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $714

HIGHEST RATE: $2,040 LOWEST RATE: $322
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Most & least expensive zip codes for condo insurance in Tennessee

Most Expensive

Zip CodeCityHighest Rate
38118Memphis$816
38116Memphis$812
38109Memphis$812
38103Memphis$810

Least Expensive

Zip CodeCityLowest Rate
37350Lookout Mountain$627
37363Chattanooga$636
37415Chattanooga$642
37421Chattanooga$642

Condo insurance rates by companies in Tennessee

As we have mentioned above, your condo insurance rates vary depending on the insurance carrier you choose. Based on Insurance.com's rate analysis, Farmers offers the most affordable rate for condo insurance in Tennessee at an average cost of $331 per year. That's $744 less expensive annually than the state average of ($1,075).

Compare the best condo insurance companies in Tennessee using their average annual premium mentioned below.

CompanyAverage annual premium
Farmers$331
Allstate$488
Safeco$553
State Farm$650
Travelers$660
USAA$1,043
Erie$4,698