Tennessee Renters Insurance: Best Online Quotes!
Tennessee, the home of the beautiful Smoky Mountains, is such an incredible place to live or visit. One of our favorite spots in Tennessee is Pigeon Forge, a mountain hideaway chock-full of family fun, group activities and dining that has to be experienced to be believed.
As much as we love writing renters coverage policies in other states, we really connect with our Tennessee renters, especially university students. The Tennessee State University system is diverse in its offerings and such a highly ranked place to attend school. We love working with first-time renters at campuses across Tennessee and are glad to connect anyone eligible with the best renters insurance policies for college students.
Am I legally required to get renters insurance?
Though you may not be legally required to hold renters insurance, most landlords, especially in college towns, want you to have some type of renters protection. Whether your landlord requires it or not, it’s always a good thing to make sure your belongings are covered, and that you’re prepared in the event of medical liability in your rental.
Some of the hottest rental markets in Tennessee are in the major Metroplex cities of Nashville and Memphis. Just a few hours drive away from each other, Memphis is situated along the Mississippi River and is a cultural hotbed of jazz and deep southern blues influence. Nashville is also a major music town, a country Mecca chock-full of new sounds to hear and places to see. You’ll find the steepest renters insurance rates in the state in both Memphis and Nashville, but if you decide to dwell in one of these places or go to school there, surely the varied cultural experience will make up for it.
How much does renters cost?
Cheap renters insurance in Tennessee is possible for you because Tennessee residents generally pay less on renters insurance than the national average. Although rents are going up 1.6% annually, that’s less than the national average.
Policies range from about $170 – $331. Broken down into monthly premiums you’re looking at anywhere from $15-30, which is well worth the protection. That doesn’t stop us from providing the best life insurance in Tennessee – it just means that in this state, you’ll pay a little less.
Whether we’re talking about location, what your home is made from, whether you live in Nashville, Memphis or in a more rural area, if there is a business located near you, which can drive up your premiums – there are so many different factors that go into how much you will pay.
In fact, it’s difficult for us to give the average rates sometimes because everyone’s situation is so different. Whether you’re living in the Metro, near a high crime location, or whatever you’re dealing with, it isn’t always easy to pin down an average premium. But, regardless of your situation, carriers use your credit score, whether you filed a claim in the past, and the other factors mentioned above to determine your rate.
What coverage do I need?
Here’s what we recommend:
20000 for Personal Property
$20,000 is usually enough to cover any property you own. You and your agent can hop on a call, create an itemized list of personal property and determine what would be the best coverage based on your belongings. In most cases, $20,000 is more than enough.
100000 for Liability and Medical
This coverage ensures that if your landlord’s dwelling is damaged or someone is injured in your home and you’re found at fault, you can make medical payments and/or needed repairs to the property.
1000 for Loss of Use
If you can’t use your home for any reason, you’ll need to be able to prepare meals, stay at a hotel and get back and forth to work and other obligations. Loss of use insurance can help you with this type of inconvenience and cover loss.
Here are some major cities we service in Tennessee:
- Pigeon Forge
What is covered in Tennessee?
Tennessee is, unfortunately, part of a giant flood plain, and also subject to tornadic activity each year. Massive thunderstorms and threatening winter weather are all problems in Tennessee as well, especially in the Smoky Mountains. Mother nature is out in full force and Tennessee experiences every season.
One thing you should discuss with your agent is the difference between RCV (Replacement Cash Value) and ACV (Actual Cash Value). While it may sound tempting to grab the actual cash value for your items in the event of a claim, depreciation costs may leave you coming up short when it’s time to pay for a replacement.
Using RCV will help you get what you need to replace a specific item, so we recommend utilizing this calculation once your deductible is met.
How much coverage should I get?
It’s always a good plan to understand carrier coverage limits for renters by state, as they’re always different. Getting an idea of what your limits are and whether or not you may need to take out additional insurance is always a good idea.
So much goes into what you might end up shelling out for premiums, so it’s very important to work with us to explain your situation entirely, disclose pets, etc., and make sure we have all the information we need to get you the best policy possible.
It’s also a good idea to talk to us about RCV, or Replacement Cost Value, and ACV, or Actual Cash Value and depreciation. We want to get you the maximum possible to replace your items, and understanding this calculation will help.
Are discounts possible?
Typically we offer:
- Bundle discounts (renters, auto, etc.)
- Advance quote discounts (paying in advance of the quote start date can help you save)
- Burglar alarm or security alarm discounts
- “Pay in full” discounts … and more!
Get Tennessee Renters Insurance Quotes Online
Talking Tennessee is what we do! Working with our lively Tennessee customers and their families is always a true pleasure. At Insurance Geek, all you need to do is fill out a form just one time, and we’ll be able to connect you with the best policy for you and your family at the best rates. Let’s chat today about how we can help you!