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
Compare renters insurance quotes in Tennessee
The average cost of renters insurance in Tennessee is $20 per month, or $239 per year.
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.
Compare Cheap Renters Insurance in Tennessee
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 $215 per year. That's 11% cheaper than the Tennessee state average.
Cheapest renters insurance companies in Tennessee
Company | Monthly cost | |
|---|---|---|
| Lemonade | $11 |
| State Farm | $15 |
| Nationwide | $17 |
| Amica | $20 |
| Travelers | $20 |
Renters insurance rates are determined by multiple factors, including your location, the amount of coverage you choose and your insurance history. Compare renters quotes from multiple companies to find the best quotes for you.
Best renters insurance for most people: Lemonade
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Editor rating
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Average monthly rate
$11 ?
Pros and cons
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
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Editor rating
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Average monthly rate
$17 ?
Pros and cons
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
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Editor rating
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Average monthly rate
$20 ?
Pros and cons
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 | Change from state average |
|---|---|---|
| Bartlett | $241 | 3% |
| Brentwood | $221 | -6% |
| Chattanooga | $237 | 1% |
| Clarksville | $229 | -3% |
| Cleveland | $229 | -3% |
Best Tennessee renters insurance companies
Amica has the best-rated customer service for renters 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
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|---|---|
| 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.