Renters Insurance

The Best Cheap Renters Insurance in Tennessee

The Best Cheap Renters Insurance in Tennessee

Lemonade offers the best cheap renters insurance quotes in Tennessee. A policy costs $11 per month, on average.

Compare Cheap Renters Insurance in Tennessee

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The best renters insurance companies combine affordable prices with useful coverage options and dependable customer service. To help you find the best insurer, we collected quotes from seven top insurers across the 25 most populated cities in Tennessee.

Methodology

Compare renters insurance quotes in Tennessee

Tennessee renters can find the cheapest insurance at Lemonade, where an average policy costs $130 per year. That's $109 per year less expensive than the statewide average.

The average cost of renters insurance in Tennessee is $20 per month, or $239 per year.

A bar graph comparing the average cost of renters insurance in Tennessee by company

Compare Cheap Renters Insurance in Tennessee

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Generally, renters in Tennessee pay more for coverage than people in other parts of the country. The average cost of renters insurance nationally is about $18 per month, or $216 per year. That's 10% cheaper than the Tennessee state average.

Company
Monthly cost
Lemonade logo
Lemonade$11
State Farm Home Insurance logo
State Farm$15
Nationwide logo
Nationwide$17
Amica logo
Amica$20
Travelers logo
Travelers$20
Show All Rows

If you've received a quote for renters insurance, it may differ from the quote your next-door neighbor gets.

Renters insurance rates are determined by multiple factors, including your location, the amount of coverage you choose and your insurance history. We recommend comparing quotes from multiple companies to find the best price for you.


Best renters insurance for most people: Lemonade

Lemonade offers cheap rates and has great customer service.

Read the full review

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The good:

  • Cheapest quotes in Tennessee
  • Reliable customer service

The bad:

  • Offers only a few coverage upgrades

The best renters insurance in Tennessee comes from Lemonade, which offers dependable customer service for very affordable prices. On average, coverage from Lemonade costs $11 per month, or $130 per year.

Lemonade's online platform is easy to use — renters can buy a policy or file a claim very quickly.

The company receives fewer customer complaints than expected based on its size, according to the National Association of Insurance Commissioners (NAIC). In addition, it earned top marks on J.D. Power's annual customer satisfaction survey. That means renters can expect Lemonade to provide a stress-free claims process if they have an emergency.

Lemonade allows customers to customize its basic renters insurance coverage by increasing their personal property coverage for high-value items and adding protection against water damage due to backed-up plumbing. Renters can also upgrade to replacement cost coverage, which pays to replace your things with brand new items, regardless of wear and tear.

Although Lemonade offers enough coverage for most renters, people concerned about natural disasters, like flooding or earthquakes, should consider Nationwide.


Best renters insurance for extra coverage: Nationwide

Nationwide offers extra protection for your belongings at affordable rates.

Read the full review

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The good:

  • Cheaper-than-average rates
  • Lots of coverage options

The bad:

  • Mediocre customer service

Tennessee renters shopping for comprehensive coverage should consider Nationwide. Its basic policy costs about $17 per month, which is 13% cheaper than average in Tennessee.

Nationwide offers lots of ways for renters to upgrade their coverage.

It is the only major company in Tennessee that offers both earthquake and flood coverage.

Both of these hazards are common in Tennessee. The state sits on two seismic zones and experiences flooding from the outer bands of hurricanes. Standard renters insurance coverage doesn't protect your stuff from flooding or earthquakes.

In addition, renters can customize a policy from Nationwide with:

Nationwide's customer service gets mixed reviews. It receives fewer complaints than competitors of a similar size, according to the NAIC. However, it earned a below-average score on J.D. Power's customer satisfaction survey. That means Nationwide may take longer to replace your things after a loss than other insurers.


Best renters insurance for customer service: Amica

Amica has top-tier customer service and practical coverage for most people.

Read the full review

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The good:

  • Reliable customer service
  • Lots of discounts available

The bad:

  • Average rates
  • Few options to customize coverage

If you're looking for renters insurance with the best reputation for customer service, you should consider Amica. It receives only about 12% of the complaints expected for its size, according to the NAIC. Additionally, ValuePenguin editors gave Amica a high score based on customer service reviews, coverage availability and the overall value it provides renters in Tennessee.

The average cost of renters insurance from Amica is $20 per month, which is equal to the Tennessee state average. However, the company offers lots of discounts to help renters to save money on their insurance, including:

  • Automatic payment discount
  • Claim-free discount
  • Loyalty discount
  • Multi-policy discount
  • Paperless discount

Amica's renters insurance coverage is fairly standard. While it meets the basic needs of many renters, those looking for extra protection might prefer another insurer.


Tennessee renters insurance rates by city

The cheapest cities for renters insurance in Tennessee are Smyrna and Spring Hill, while Jackson tends to be the most expensive.

Average renters insurance quotes vary by only $4 per month among the 25 most populated cities in the state. A typical policy in Jackson costs $22 per month. On the other hand, renters living in Smyrna and Spring Hill can expect to pay closer to $18 per month for coverage.

City
Average annual cost
Difference from state average (%)
Bartlett$2413%
Brentwood$221-6%
Chattanooga$2371%
Clarksville$229-3%
Cleveland$229-3%
Show All Rows

Compare Rates


Tennessee renters insurance customer service

Amica has the best-rated customer service for renters living in Tennessee.

The company receives far fewer complaints than competitors of a similar size, according to the NAIC. In addition, ValuePenguin editors found that Amica offers excellent value to Tennessee renters based on customer service reviews, cost and coverage availability.

Company
Rating
Amica
Lemonade
State Farm
Nationwide
Farmers
Allstate
Travelers

It's important to consider customer service reviews when you're shopping for renters insurance. Choosing a company with highly rated service can lead to a quick and easy claims process, which is priceless in an emergency situation. On the other hand, a company with poor reviews can take longer to replace your stuff, and you may have to pay more out of pocket.


What does renters insurance cover in Tennessee?

Renters insurance companies always provide basic forms of protection for your belongings and coverage for liability. If you get a quote from an insurer that doesn't offer these coverage options, you should consider another company.

  • Medical payments to others
  • Additional living expenses

Adding coverages to a basic policy will increase the cost of insurance. However, depending on your needs, it could be worth it to pay more for extra protection. Renters insurance isn't mandatory, so you can customize your policy according to what's useful for you.

Renters in Tennessee should consider adding earthquake and flood coverage. Both of these hazards are common in Tennessee. A standard renters insurance policy doesn't protect your things from earthquake or flood damage.

  • Earthquake coverage: Protects your belongings from damage caused by an earthquake or its side effects, like a landslide.
  • Flood insurance: Covers water damage caused by weather-related flooding.
  • Replacement cost coverage: Replaces your damaged or stolen property for its full value without considering wear and tear.
  • Valuables plus: Allows you to increase the coverage for high-value items, like firearms or jewelry.
  • Water-backup protection: Covers water damage resulting from backed-up drains or sump pumps.

Frequently asked questions

How much is renters insurance in Tennessee?

The average cost of renters insurance in Tennessee is $239 per year, or $20 per month. People shopping for cheap renters insurance in Tennessee should consider Lemonade, where a policy costs around $130 per year.

Does Tennessee require renters insurance?

Renters insurance is not legally required in Tennessee. However, your landlord or property management company may ask you to buy a policy as a part of your rental contract.

How much does renters insurance cost in Nashville?

Renters insurance in Nashville costs about $20 per month, which is the average cost of renters insurance in Tennessee. In comparison, renters insurance in Memphis costs an average of $22 per month.


Methodology

To determine which of the companies in Tennessee has the best renters insurance, we ranked insurers' performance in these three categories:

  • Affordability: How much a company tends to charge for a basic policy.
  • Coverage options: The quality of a basic policy and the number of ways to customize coverage.
  • Customer service: The reputation an insurer has for responding quickly and fairly to its customers' needs.

We collected quotes from seven top insurers across the state to find the best renters insurance in Tennessee. Rates are based on a 25-year-old unmarried man without a history of making insurance claims.

The quotes we collected include the following coverage limits:

  • Personal property coverage: $30,000
  • Personal liability: $100,000
  • Medical payments to others: $1,000
  • Deductible: $500

To determine the best customer service in Tennessee, we reviewed the following metrics:

  • NAIC Complaint Index: The Complaint Index calculates the number of complaints a company gets relative to its size.
  • J.D. Power Homeowners Insurance Study - Renters Insurance: J.D. Power's study compares the service quality, claims satisfaction, coverage offerings and price of 10 of the nation's largest renters insurance providers. Customer feedback in these areas is combined into an overall satisfaction number, which is used to rank insurers.
  • ValuePenguin editor's rating: Our editor's rating takes into account the overall value an insurer provides its policyholders, customer service reviews and coverage availability.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.