Who Has the Cheapest Homeowners Insurance Quotes in Tennessee?

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This article has been reviewed and deemed factual by our content auditor with 8 years of banking experience.

Article Approved By Banking Expert

This article has been reviewed and deemed factual by our content auditor with 8 years of banking experience.

Whether you’re looking for good music, good food, or nice views, Tennessee has what you’re looking for. And that only scratches the surface of what Tennessee homeowners have and the reasons they would want to stay right where they are. Their homes are the center of their lives, and we want to see them protected. Therefore, we recommend that every homeowner in the state get insurance, as there are fires, crime, and natural events that can damage your home or assets, and you need a safety net to remain stable. To help, we found the cheapest options for you.

Here are the four cheapest homeowners insurance providers operating in Tennessee:

The Four Cheapest Quotes:

Not every Tennessee home is the same, and not every region in the state faces the exact same threats. Therefore, you will likely have a somewhat different rate and experience than the general trends talked about below.

The number listed next to each provider is the average annual rate for a standard policy.

1) Farmers: $1,084

The least expensive option in Tennessee is Farmers, and by a notable margin. We couldn’t be happier about this, because Farmers is an excellent option for any homeowner looking for both excellent customer service and plenty of options to work with. Farmers will have multiple plans to choose from, each of them customizable. We would also like to note that it’s especially great for new homeowners.

Downsides to working with Farmers include the fact that they aren’t perfect with everything, and you might find a few hiccups here or there. More alarmingly, there are quite a few customers who had rates rise after signing up, so be careful about what you sign up for.

You can expect the following working with Farmers:

  • Plenty of customization options branching off of three main base packages.
  • The ability to repair or replace your damaged home with environmentally friendly materials.
  • Discounts for having a new home, having made renovations recently, not smoking, using strong roofing materials, installing home safety systems, and more.

2) Nationwide: $1,321 

Nationwide, much like Farmers, is an excellent choice for people who want plenty of options when building their policy, and people who can’t get a good quote from Farmers should check here next. The price increase is notable, but Nationwide is also an extremely reliable company that won’t get shaken no matter the disaster. With other strong coverages designed to get you back on your feet, Nationwide will give you peace of mind you won’t find elsewhere.

The problem with Nationwide really only shows up if you’re getting many optional coverages added onto your plan. They’re far more expensive than they should be, which can drive the rate past what even State Farm would cost you. Be careful, know your price limits, and be ok with saying no partway into the process.

You can expect the following working with Nationwide:

  • Optional flood, earthquake, water backup, and identity theft coverages. Additionally, there are enhanced coverages for home replacement and valuables available.
  • Plenty of helpful guides and tools for you to use if you have any questions.
  • A free optional and annual review should you have any questions.

3) State Farm: $2,074

Normally we recommend State Farm in other states on the basis of its affordability and its simplicity, but relative to other options in Tennessee we can only recommend it for its simplicity and ease of use. Yet those aspects might be worth it to you, and if you agree we can wholeheartedly say that State Farm’s experience goes a long way and you will have a smooth ride moving forward.

Yet State Farm isn’t going to change much from what you get on the surface, and that means you won’t have many discounts to make your potential policy competitive. And if the home you have is non-standard or has unique threats or problems, you’re less likely to find a solution with State Farm. They are good for the majority, but not everyone is in the majority.

You can expect the following working with State Farm:

  • One of the best online platforms and experiences in the industry, complete with excellent quoting tool and the ability to get all your questions answered easily.
  • A high level of financial and organizational stability.
  • Agents available throughout the state to help you.

4) Allstate: $2,385

Last on our list is Allstate, which while rather expensive in Tennessee might still be worth it to some homeowners for the unique services and coverages they might be able to provide you. You’ll want to investigate yourself what they have to offer and see if they’ll be a good fit, but other than this you should know that they are also a great choice for homeowners looking to bundle and homeowners that have older homes.

Yet for the high expected cost, you will find yourself wanting better customer service than what you’re likely going to get. You’ll deal with hit or miss agents, some pushiness regarding upgrading your services, and occasional slow response times. There are better companies when it comes to service, and you deserve better.

You can expect the following working with Allstate:

  • Plenty of discounts and opportunities to reduce your total rate.
  • Some helpful online and mobile apps, making claims and other processes much easier.
  • Plenty of optional coverages to choose from, including water backup, garden and landscaping coverages, identity theft restoration, business property, scheduled personal property coverage, and umbrella coverage.

Conclusion

Whether you are shopping for homeowners insurance for the first time or are simply looking for a better option for your Tennessee home, we hoped that the above information helped you on your search. These decisions can seem tedious, but are vital to making sure you have a plan should anything happen to your home. After you list out your needs and priorities, determine your budget, and take some notes and get some quotes, we’re certain that you’ll be able to get the policy you deserve.