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Home Insurance and Car Insurance in Tennessee
Life in the Volunteer State is as diverse as the terrain, whether you live in the Blue Ridge Mountains along its eastern border or among the fertile plains. Tennessee residents live in small towns and big cities alike. From the hustle of Nashville and Memphis to the slow lifestyle of the state’s rural areas, finding the right type of home insurance and auto insurance coverage is important.
At SelectQuote, we help you shop for and save money on insurance to protect both your home and your vehicles. Bundled home and auto insurance discounts can help keep you on budget. We use our breakthrough technology to compare quotes from dozens of companies at the same time, and then offer unbiased policy recommendations based on your budget and unique coverage needs.
Homeowners Insurance in
Finding affordable home insurance is a big priority for Tennessee homeowners. From Nashville to Knoxville and beyond, 67% of Tennessee’s 7 million residents own their own homes.1,2
Homeowners insurance is an important purchase to consider. Fires, theft, windstorms and other disasters can be costly and without proper coverage, you may not be fully protected from substantial losses after a catastrophe.
As you shop for home insurance, consider the difference between actual cash value policies and those that cover the full replacement cost.
When an insurance policy pays the actual cash value, it pays the current value of the claimed loss minus depreciation or the policy limit (whichever is lower).
Full replacement cost policies will pay the full replacement cost or policy limit (whichever is lower).
In practice, a home that would cost $250,000 to repair but is covered by a $200,000 actual cash value policy would require you to pay the remaining $50,000. A replacement cost policy would cover the full $250,000.
Homeowners Insurance Coverage Options in
Tennessee homeowners have plenty of options when it comes to buying home insurance. Most home insurance policies have defined coverage types, but what is offered by an insurance company can vary by state, insurance agent and insurance carrier. Common types of home insurance coverage offered include:
- Dwelling coverage is a standard policy that covers the actual physical structure of your home. If you have an attached garage or other structure, this will be covered as well.
- Personal property coverage works to cover your household belongings. If it’s inside or outside your home, it is covered.
- Personal liability coverage protects you in the event that someone is injured on your property and you’re found at fault. It also covers damage to another person’s property.
- Guest medical protection coverage exists to cover people who are injured on your property, regardless of who may be at fault.
- Other structures cover damages to structures on your property separate from your home, such as detached garages.
Common Causes of Loss in
Tennessee’s terrain varies from lowland plains to mountains and is vulnerable to a variety of natural disasters. Severe storms are a concern all year round, but other issues can pop up as well. Common causes of loss for Tennessee homeowners include:
- Wildfires
- Wind damage
- Severe weather, including hail and heavy rains
- Flooding
Aside from flooding, most of the disasters listed above are covered under standard HO-3 home insurance policies. Before you purchase a home insurance policy, confirm that your coverage works for many named perils. A named peril is a type of loss or damage that an insurance policy covers.
Additional Coverage Options Recommended for Homeowners
Buying standard home insurance coverage is important, but there are some additional coverage options that all Tennessee homeowners should consider as they shop. Some types of hazards aren’t covered by a standard policy, while others may need additional endorsements or limits depending on what part of the state you call home. If you’re unsure, it might be worth asking your insurance agent about the following types of home insurance:
- Flood insurance is never included on a standard home insurance policy. Instead, homeowners may choose to purchase a separate policy from either a private insurance company or the National Flood Insurance Program (NFIP).
- Sinkhole insurance may not be at the top of your list of insurance choices, but Tennessee is actually one of the most likely states to see insurance claims from sinkholes.3 Like flooding, they’re not covered under a standard policy. You can buy a separate sinkhole policy to help mitigate this risk.
- Wildfire insurance may be a good idea if your home is located in a heavily wooded area. Most insurance policies cover fire as a named peril, but insurance companies are beginning to view risk differently; it might be worth exploring a separate wildfire insurance policy if you’re concerned about whether standard coverage is enough.
- Sewer backup coverage can help you pay for damages related to backed up sewer or drain lines. It’s also good coverage to have if your home has a basement and a sump pump. Sump pump failure can result in costly repairs to your home.
Our Home Insurance Partners in
SelectQuote works with many trusted home and auto insurance companies in Tennessee and other states to help you find the affordable coverage you need. We provide unbiased recommendations based on price to help you save time and money when you shop for your home and auto coverage needs.
What is the average home insurance cost in ?
Actual SelectQuote customers in Tennessee see average monthly premiums of $129.94+ for their home insurance. Your own Tennessee home insurance rates will vary based on several factors, including, but not limited to:
- Your policy limits and types of coverage
- Your deductible
- Your credit history
- The age and condition of your home
- Your ZIP code
- Your previously filed insurance claims
Homeowners Insurance Discounts in
Tennessee homeowners are often eligible for several home insurance discounts that can save them hundreds of dollars each year. Look out for discounts based on the following criteria:
- Customer loyalty discounts
- High deductible discounts
- Service or profession-based discounts
- Home security installation discounts
- Discounts for new construction
- First time home buyer discounts
- Bundled home and auto insurance policy discounts
Bundle Your Home and Auto Insurance to Save Money
When you bundle your home and auto insurance coverage through SelectQuote, you may see average savings of $693 per year. Bundling your insurance is one of the best discounts you can get. Compare prices and learn how much you can save.
Average Home and Auto Insurance Rates in
The rates listed below are real average rates for SelectQuote customers in select Tennessee cities. Your own rate will vary based on many factors, including policy limits and types of coverage purchased.
| City | Avg. Monthly Home Insurance Rate | Avg. Monthly Auto Insurance Rate | Avg. Monthly Rate of Bundled Policies |
|---|---|---|---|
| Clarksville | $124.91 | $157.57 | $305.07 |
| Knoxville | $103.65 | $119.53 | $205.45 |
| Memphis | $149.23 | $191.68 | $281.79 |
| Murfreesboro | $107.26 | $117.49 | $200.11 |
| Nashville | $106.36 | $125.33 | $206.31 |
Average monthly rates are from effective SelectQuote customer policies between 4/1/2022 and 3/31/2023.
Auto Insurance in
While Nashville and Memphis are major interstate hubs for travelers driving through and across the state of Tennessee, there are more than an estimated 5 million licensed drivers in the Volunteer state.4 With so many drivers sharing the road, there’s no shortage of opportunity for auto accidents. Auto insurance can help offset the costs associated with auto collisions. Whether you’re a brand new driver or seeking cheaper car insurance rates, SelectQuote can help you find the best price on a policy that meets your needs.
Auto Insurance Laws and Requirements
Tennessee requires all drivers to carry auto insurance and show financial responsibility for auto accidents they may cause.5 The easiest way to show financial responsibility and satisfy this requirement is to purchase liability auto insurance. Liability coverage isn’t the only form of auto insurance coverage, but it is the primary kind of insurance most drivers purchase. Types of auto insurance coverage available include:
- Liability insurance pays for damages caused by you if the accident is your fault. It will also pay for medical bills incurred by the other driver or their passengers. Tennessee requires drivers to have $25,000 of coverage for injuries per person, up to $50,000 per accident. It also requires $15,000 of coverage for property damage. This coverage is known as 25/50/15 coverage and is the bare legal minimum for drivers. You may choose to purchase more coverage based on your budget.
- Uninsured/underinsured motorist coverage pays for medical expenses when the other driver is at fault and doesn’t have sufficient insurance coverage.
- Personal injury protection insurance can help pay for medical expenses or funeral expenses for you or your passengers.
Other types of insurance exist to help pay for damage to your vehicle in an auto accident regardless of who is at fault. This coverage—known as full coverage— is often required by auto lenders for leased or financed vehicles and includes:
- Collision coverage helps cover expenses for repairs or replacement for your vehicle if it is damaged in an accident.
- Comprehensive coverage can help pay for repairs or replacement for vehicles that are stolen or damaged by storms, vandalism or animals.
- Gap insurance pays the difference between what your totaled vehicle is worth versus what you currently owe on the car loan or lease.
All data on average expenditures is provided by the Insurance Information Institute.
| Types of Coverage | Minimum State Requires |
|---|---|
| Bodily Injury Liability | $25,000 per person / $50,000 per accident |
| Property Damage Liability | $15,000 |
| Uninsured Motorist | Not required |
| Underinsured Motorist | Not required |
| Personal Injury Protection | Not required |
| Collision | Not required |
| Comprehensive | Not required |
| Gap Insurance | Not required |
Teen Driving Laws
All drivers in Tennessee, including teenagers, are required to have auto insurance.6 Teens can get auto insurance either on their own or as a covered driver on their parent or guardian’s policy (which is usually cheaper). Tennessee has a graduated license program for teenagers. This program offers three levels of licensure for teens and allows them to learn how to drive safely. Teenage drivers are restricted from driving overnight and from the use of any mobile devices in the vehicle. There are also strict passenger age limits.
Car Registration Information
Tennessee residents must provide proof of ownership, their photo ID and proof of residency. Proof of auto insurance may not be required at the time of registration, but it’s good to have it on hand just in case.
What is the average car insurance cost in ?
The average Tennessee car insurance policy costs SelectQuote customers $140.72 per month.+ Your own policy will differ based on factors such as your ZIP code, driving history, make and model of vehicle and the types of insurance coverage you purchase.
Auto Insurance Discounts
Tennessee drivers may be eligible to reduce their monthly insurance premiums by seeking out any and all applicable auto insurance discounts. These discounts can vary, but many insurance companies offer the following types of savings:
- Customer loyalty discounts
- Safe driving discounts
- Low mileage discounts
- Service or professional discounts
- High deductible discounts
- Bundled auto and home insurance policy discounts
Our Auto Insurance Partners in
SelectQuote partners with several leading auto insurance companies in Tennessee to provide you with access to affordable insurance coverage. We source customized quotes from several insurance carriers in the time it would take you to get a quote from a single company. We review those quotes with you and help you choose the one that best meets your needs, from most affordable cost to the right coverage amount.
Home and Auto Insurance Frequently Asked Questions
SelectQuote helps customers from all parts of Tennessee find affordable home and auto insurance, which means we know the most popular questions customers have. Let’s look at some of the most frequently asked questions about your home and auto coverage.
Does Tennessee require auto insurance?
Yes, Tennessee requires all drivers to carry (at minimum) liability coverage for both bodily injuries and property damage.
Is boat insurance required in Tennessee?
Boat insurance isn’t required in Tennessee if you own a boat, but it is a good idea to purchase it. Boat insurance policies can cover liability for injuries and property damage, but they also work to cover you in the event of damage to your boat.
Does Tennessee require motorcycle insurance?
Motorcycle insurance is required in Tennessee and proof of insurance must be shown prior to motorcycle registration. Failure to purchase motorcycle insurance can result in fines or license suspension.
Does Tennessee require renters insurance?
Tennessee does not require renters insurance, but most apartment complexes and property management companies will require it as a condition of your lease. Affordable renters insurance is easy to find and can help protect your personal property in the event of a disaster or theft.
Does Tennessee require mobile home insurance?
Tennessee does not require mobile home insurance, but you will want to purchase it to satisfy conditions of your home loan or mortgage. Mobile home insurance covers many of the same things that a standard HO-3 policy covers, but it is different from standard home insurance because of the increased risk of fire and wind damage faced by mobile homes.
SelectQuote Can Shop Home or Auto Insurance to Help Save You Time and Money
Whether it is your first time buying a home or car or you want to switch and save money on your insurance policies, SelectQuote can help. We provide unbiased recommendations based on your budget and what types of coverage you need. This includes substantial discounts for bundling home and auto insurance policies under one carrier. Let SelectQuote save you time and money by shopping for your home and auto coverage.
- https://fred.stlouisfed.org
- https://www.census.gov/quickfacts/TN
- https://www.americangeosciences.org
- https://www.statista.com
- https://www.tn.gov/revenue
- https://www.tn.gov/safety/driver-services
+Average rates calculated are based on effective SelectQuote customer policies in Tennessee between 4/1/2022 and 3/31/2023. Rates will vary based on level of coverage, location, age, and additional determining factors.
