Homeowners insurance for Tennessee

House & Property insurance is designed to protect property owners no matter how they use their homes. So whether you live in the house or rent it out, you get coverage for:

• The dwelling.
• Other structures on the property.
• Your personal items.
• Loss of use of your home.

When you occupy the property, you also get:

• Personal liability coverage.
• Medical bills coverage.

Are you leasing out your home? House & Property policies includes fair rental value coverage to help you recover income if the property is unrentable due to a covered loss.

The structure of your home is insured on an open perils basis. This gives you protection from financial losses stemming from most of the common perils Tennessee homeowners face, including:

• Wind.
• Fire.
• Theft.
• Hail.

Personal property is insured on a named perils basis – that means it’s covered for losses caused by any of the 16 perils listed in your policy. However, you may also add an endorsement to your policy to provide coverage for personal property on an open perils basis.

On average, home insurance premiums in Tennessee are $1,368 per year. But prices can vary significantly based on how insurers weigh the factors that determine premium, such as the age, size, and location of your home.

Those aren’t the only characteristics that influence your insurance costs. The amount of coverage you need and the deductibles you chose are also important factors, as is your claims history.

Tennessee state law doesn't require you to get homeowners insurance. However, your lender will likely require you have home insurance if you have a mortgage.

Even if you aren’t required to get home insurance, coverage is important for protecting your home. Without insurance, you’re responsible for 100 percent of any loss. That’s not a big deal if the damage is minor, but major storms can be much more expensive, even destroying homes completely.

Discounts are key to saving on home insurance in Tennessee. You may find reduced rates for:

• Installing water detection, home security, or fire prevention devices.
• Being claims free for at least five years.
• Managing your coverage online.
• Buying your first policy through Kin.

Another way to save is to choose a higher deductible, but be smart about the deductible you choose. It’s the amount you’re responsible for in a claim, so you want to pick a deductible that you can afford even after a catastrophe.

Beyond typical standard coverages, you can upgrade your House & Property policy with endorsements. For instance, you can choose to:

• Insure your personal property for its replacement cost coverage.
• Make sure you're covered for water backup and sump overflow.
• Add an ordinance or law endorsement so you're protected if a covered loss requires you to meet new building codes.
• Get coverage for earthquakes or sinkholes.