Who Has the Cheapest Renters 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.

There is no mistaking Tennessee for anywhere else on earth, yet Tennessee still has many of the same problems as anywhere else on earth, which coexist alongside the music and rich history of the area. Crime, fires, and other types of disasters can bring damage or ruin to your apartment (and the possessions inside it), and we think it’s the right call for any renter to have a plan against that. This is where renters insurance comes in. It’s not too difficult to get, there is a right choice for you, and it isn’t too expensive.

Here are the five cheapest renters insurance providers operating in Tennessee:

The Five Cheapest Quotes:

Tennessee covers a large area, and as such certain regions in the state might be more at risk for certain problems or disasters than others. As such, your rate and experience might vary from the state average listed below depending on your location.

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

1) State Farm: $236

State Farm will be the cheapest option for most Tennessee residents, and across the country, they are known for being one of the most affordable options for those who want a relatively simple policy that will protect them from most of the standard risks. Furthermore, customers might be able to take advantage of deals and bundles which will further lower their rate.

The main problem with State Farm, even at this price, is the customer service. Simply put, other companies do it better, and this is in an industry that is known overall for these types of problems. Yet more concerningly for some is the fact that their flooding coverage either doesn’t exist or is extremely difficult to get, making them a non-choice for people at risk.

You can expect the following working with State Farm:

  • A loss-of-use policy that can compete with the best of them despite the low average cost of a normal policy.
  • A low average rate for the level of coverage you will be getting.
  • A helpful collection of information online and support available should you have any questions about your policy.

2) Nationwide: $280 

A great choice at the average price listed here, Nationwide is a large company that provides insurance policies and services to people across the country, and they are well-known for their good service and even more so for their great range of customization options. With them, you’ll be able to not only modify your deductible but also your level of coverage for certain groups of items as well. If you want control over your policy, Nationwide is the way to go.

Nationwide customers do sometimes complain about a few of the coverages being lackluster, and the fact that rates can get extremely high in certain at-risk areas, so read the fine print.

You can expect the following working with Nationwide:

  • A free annual assessment to help you make sure you’re getting the best deal and coverage possible.
  • Optional coverages such as added valuables coverage, earthquake protection, theft extension, and water and sewage backup damage.
  • A team of very well-trained agents.

3) Allstate: $385

With a bit of a price jump comes Allstate, another widespread provider of various insurance products that you can rely on to give you steady and reliable, if not perfect, coverage. On the same note, being one of the largest companies in the industry, they will be able to help you no matter the situation, and you will never have to worry about their ability to pay out your claim.

What might not be so reliable is their customer service team, as people have noted that not all of their agents and reps reach the same level of care. You also might need to worry about some rate spikes in your area.

You can expect the following working with Allstate:

  • Great bundling discounts and options, especially when it comes to auto insurance.
  • Some of the best policies in the business for water damage and flooding, making it a must for people heavily threatened by those problems.
  • Effective online tools to quickly direct you to answers and solutions.

4) Liberty Mutual: $389

A much more solid all-around choice than most of the competition, Liberty Mutual is usually a provider that will charge you a bit of a premium for superior insurance and superior service, with no gaps in coverage you need to worry about. If you’re looking for the general option much like State Farm is, except with more to work with, Liberty Mutual is exactly the choice for you.

It might not be the choice for you, however, if you are looking for additional policies on top of renters insurance, as according to our research they are not all made equally.

You can expect the following working with Liberty Mutual:

  • A series of partnerships with national organizations and workplaces, which results in members potentially getting a notable discount on their annual rate.
  • An excellent set of online tools and services.
  • Additional coverage options including plans for identity theft, electronics, jewelry, high-value items, and water damage.

5) Farmers: $596

In some ways comparable with Nationwide, we completely understand and in most cases will agree with you if you write Farmers off for their high average cost, but there are a few things that you might wish to take note of. They have excellent customer service, so if you value your time and mental energy, they might be a good pick.

Yet outside of the obvious negative of the price, a few coverages such as jewelry could be better, and some people are not happy with the amount of runaround and bureaucracy they were given, nice as the customer service team is.

You can expect the following working with Farmers:

  • The ability to modify your deductible.
  • The option to customize your coverage depending on your perceived level of risk.
  • Plenty of optional coverages such as improved liability coverage, pet damage protection, personal article floaters, and identity theft protection.

Conclusion

Tennessee has unique benefits to living there and great people to live around, but it also has some unique problems and threats, and you deserve a plan that you can both afford and that won’t simply be a waste of paper. We think that with some additional research and planning on your part, you’ll be able to find a provider among those listed above that will give you just what you need. The process might not be easy for everyone, but it will certainly be worthwhile.