Insurance Rates Online - Your Source For Affordable Insurance Quotes

Tennessee Home Insurance

For Tennessee home owners, life can be beautiful. The state offers everything from stately mountains to rolling meadows, but nature can be tough too. Tennessee home insurance policies must Tennessee Home Insurance Shopping Tipscover a variety of natural events, including tornadoes, hurricanes, wildfires, floods, and even earthquakes. That’s why it is important for everyone buying Tennessee home insurance to know what to look for when buying a policy, as well as what extra coverage to purchase to ensure they have the protection they need.

The Basics of Tennessee Home Insurance

Home insurance is not required by law, but is usually required by lenders if a home has a mortgage. Most Tennessee home policies cover the same primary areas:

  • Dwelling Coverage – damage to the house itself, for repairs or replacement, up to the face amount of the policy.
  • Other Structures – covers repairs or replacement for additional buildings on the property, such as a detached garage, tool shed or fencing.
  • Personal Property – provides for replacement of household contents like furniture and appliances, as well as personal items such as clothing or jewelry. This is usually limited to 50% of the dwelling coverage amount.
  • Additional Living Expenses – if occupants cannot live in the home while covered repairs are being made, this provides funds to live somewhere else until the house can again be occupied.
  • Comprehensive Personal Liability/Medical Expenses – protects homeowners from claims resulting from accidents injuring visiting guests or their property.

One of the most important decisions to make when buying Tennessee home insurance is the type of replacement coverage. There are two basic choices.

  1. Actual Cash Value provides the amount to repair or replace home and belongings after depreciation.
  2. Replacement Cost coverage pays the amount necessary to restore or replace everything without deducting for depreciation.

It is important to remember that in times of significant loss, such as the total destruction of a home, the difference between Actual Cash Value and Replacement Cost can be several thousand dollars. The insurance premium amount involved isn’t that much, so this usually isn’t the place to save money on a policy.

Flood insurance is not included in any home Insurance policy. It is available through the National Flood Insurance Program. Depending on the home’s location, this additional coverage could be very important to Tennessee residents.

Factors Affecting the Rates for Tennessee Home Insurance

Tennessee insurance companies take a large number of items into consideration when determining the amount to charge for a home insurance policy. Knowing these factors can help consumers make smart choices to lower the rates for coverage.

  • Type of Construction - Frame homes are more expensive to insure than brick
  • Age of Home - New homes have lower premiums because all of the systems, like plumbing, heating and electrical, are new
  • Fire Protection - Proximity to a fire station, or even just a fire hydrant, can lower home insurance rates
  • Safety Equipment - Discounts are available for smoke detectors, fire extinguishers, deadbolt locks or burglar alarms

Additional Coverage Available for Tennessee Homeowners

Home insurance is not a one-size-fits-all product. Each person’s situation is different, which is why it is important for home owners to review each policy to know exactly what is and is not covered. If something is a common risk but is not included in the policy, or the policy coverage is insufficient, consumers can buy an “endorsement” which adds additional or increased protection for an additional cost.

The most common endorsements are:

  • Personal Property – Most policies have limits on the coverage amounts for specific types of expensive property, like computers, jewelry, antiques or coin collections.
  • Inflation Guard – If a home’s value is increasing due to inflation, this endorsement will insure that the policy’s face amount also increases to keep the home fully protected.
  • Building Codes – Home repairs must meet the current building codes rather than the originally ones. This can make repairs much more extensive and expensive.
  • Earthquakes – This is not normally included in insurance policies, but it is a definite risk in Tennessee.
  • Broken Pipes – Water pipes that break outside the home or sewer backups within the home can cause a great deal of damage that isn’t covered without an extra endorsement.

Discounts Available on Tennessee Home Insurance

There are additional ways for Tennessee homeowners to save money on insurance. When shopping for a policy, make sure to ask for all available discounts:

  • Non-smoker Discount – Non-smokers have fewer claims than smokers, especially fire related claims, which means lower rates.
  • Seniors Discount – Seniors traditionally spend more time at home and can thus protect or minimize property damage.
  • Multi-Policy Discount – Buying both home and auto insurance from the same provider will lower rates.
  • Credit Score – Consumers with good credit pay less.

For more ideas on reducing the cost of home insurance in Tennessee, visit Home Insurance Shopping Tips.

The Best Way to Save Money on Tennessee Home Insurance

The smartest thing anyone can do to lower home insurance costs is the same as any other major purchase – comparison shop! Fortunately it is easy to do this – just enter your zip code in the box below to be instantly matched to the top insurance companies offering coverage in Tennessee. Click on at least three or four and request a free quote, then compare the rates and coverage to determine the best deal. Don’t wait another second – enter your zip code now!


Zip Code: