How much is renters insurance in Tennessee?

The average cost of renters insurance in Tennessee is $272 a year, and the average monthly cost is $23. That's for a policy with personal property coverage of $40,000, liability coverage of $100,000, and a deductible of $1,000.

What you pay for renters insurance may differ from your neighbours because it depends on factors specific to each person: the property you want to insure, extra coverage options you add, and the deductible amount you choose.

"The number one thing that's most important is to get good liability. A renter's policy will default to $100,000 liability," Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. "It costs next to nothing to go from $100,000 to $500,000. I want to say it's probably 10 bucks a year. It's really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that's, at its core, what insurance is all about: the worst-case scenario."

Average annual premium	$272
Average monthly premium	$23

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Best renters insurance companies in Tennessee

Tennessee Farmers, Auto-Owners and Shelter Insurance are our best renters insurance companies in Tennessee.

Rates differ widely between renters insurance providers, so it pays to shop around. But rates aren’t the entire picture. It’s also important to choose an insurance company with a good reputation so you know it will be there for you when you need it.

To help you choose the best renters insurance in Tennessee, we reviewed rates and third-party ratings including complaint volume with the National Association of Insurance Commissioners (NAIC) and financial ratings from AM Best.

Among the carriers surveyed, Tennessee Farmers is the best renters insurance company in Tennessee, with a top score and an average renters insurance rate of $153.

Below is our list of best renters insurance companies in Tennessee based on that analysis, with our score out of five.

Company	Average annual premium	AM Best	NAIC	Insurance.com rating
Tennessee Farmers	$153	A-	0.04	5
Auto-Owners	$257	A++	0.33	4.51
Shelter Insurance	$216	A	0.42	4.35
Westfield Insurance	$332	A	0.29	4.2
Erie Insurance	$368	A+	0.38	4.03
American National Finance	$150	A	0.83	3.97
Farmers	$302	A	0.54	3.93
State Farm	$195	A++	0.95	3.83
Travelers	$581	A++	0.54	3.26

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Cheapest renters insurance in Tennessee

American National Finance is the cheapest renters insurance company in Tennessee based on our rate analysis with an average annual premium of $150.

Renters insurance prices can vary drastically between companies. That's why it is important to compare rates and see which company offers the best deal to get coverage at an affordable price.

Below are the cheapest renters insurance companies in Tennessee and their average annual premiums.

Company name	Average annual premium
American National Finance	$150
Tennessee Farmers	$153
State Farm	$195
Shelter Insurance	$216
Auto-Owners	$257
Farmers	$302
Westfield Insurance	$332
Erie Insurance	$368
Travelers	$581
USAA	$162

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Tennessee renters insurance: The least and most expensive ZIP codes

Where you live in Tennessee affects how much you pay for renters insurance. The most expensive ZIP code in Tennessee for renters insurance is 38077, where the average annual rate is $377 which is $105 more than the state average insurance premium.

On the other end of the spectrum, the least expensive ZIP code for renters insurance is 37686, with an average annual rate of $229.

The following table lists the least and most expensive ZIP codes in Tennessee for renters insurance.

Best home insurance companies in Texas

Most expensive ZIP code
Least expensive ZIP code

ZIP code	Average annual rate
38077	$377
38080	$359
38079	$355
38127	$352
38254	$351
38070	$348
38047	$348
38007	$346
38163	$340
38126	$336

ZIP code	Average annual rate
37686	$229
37664	$230
37604	$231
37615	$233
37601	$234
37620	$234
37660	$235
37642	$237
37140	$238
37645	$238

Compare renters insurance rates by city in Tennessee

Renters insurance rates vary significantly across cities, influenced by various factors, including weather patterns, crime rates, and property values. You must consider these factors and compare quotes from different insurers to get the best deal on renters insurance for your specific city in Tennessee.

City	Annual insurance premium
Chattanooga	$269
Clarksville	$265
Franklin	$246
Hendersonville	$250
Jackson	$295
Johnson City	$234
Knoxville	$258
Memphis	$315
Murfreesboro	$251
Nashville	$273

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How to get cheap renters insurance in Tennessee

There are a few things you can do to get cheaper renters insurance in Tennessee:

Shop around. Not every Tennessee renters insurance company offers the same rates or discounts. Shop around for the best price.
Ask about discounts. There are a lot of discounts available on renters insurance; one of the biggest is bundling your home and auto insurance, so ask for an auto quote at the same time.
Chose a higher deductible. Your deductible affects your premiums; higher deductibles mean lower rates. Just ensure you can afford the deductible if you have to pay it.

Methodology

Insurance.com compared renters insurance rates provided by Quadrant Information Services for $40,000 personal property coverage with a $1,000 deductible and $100,000 liability coverage for all available ZIP codes based on a renter with good credit. To rank the best insurance companies, we gathered AM Best financial stability ratings, where an A++ is the best possible score, and National Association of Insurance Commissioners (NAIC) complaint ratios, which compare the number of complaints a company receives to the anticipated complaint volume based on market share. These factors were used along with rates to find the best companies overall.

Tennessee renters insurance: FAQ

Do I need renters insurance in Tennessee?

Renters insurance isn’t required by law, but your landlord may require you to purchase a policy as part of your lease agreement.

How much renters insurance do I need in Tennessee?

You don’t need any renters insurance by law, but when buying a policy you should ensure you have enough personal property coverage to cover all of your personal property at replacement cost.