Key Takeaways
- Erie Insurance has the cheapest home insurance rates in Nashville, charging an average $1,448 a year.
- Nashville homeowners pay an average of $1,921 a year for insurance, which is less than the statewide average of $2,047.
- State Farm is another affordable option, with the city’s second-lowest rates.
In this article
Average home insurance rates in Nashville
The average cost of homeowners insurance in Nashville is $1,921 a year. That breaks down to $160 a month.
Statewide, Tennessee homeowners pay $2,047 a year, or $171 a month. Nashville homeowners enjoy rates of a little over $10 less per month.
Home insurance costs vary widely from city to city — and between nearby homes. Here are a few of the factors that can affect your rate:
- Your claim history
- The age and location of your home
- The construction style of your home
- The cost to rebuild your home in the event of a disaster
There’s your deductible, too. Annual premiums tend to decrease as deductible amounts increase, as evidenced by this chart of average costs in Nashville:
| Deductible | Annual premium |
|---|---|
| $500 | $2,122 |
| $1,000 | $1,921 |
| $1,500 | $1,785 |
| $2,000 | $1,660 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Your rate will also depend on the amount of dwelling coverage you need. Here are some examples using common coverage amounts:
| Dwelling coverage amount | Annual premium |
|---|---|
| $200,000 | $1,584 |
| $275,000 | $1,921 |
| $350,000 | $2,274 |
| $425,000 | $2,656 |
| $500,000 | $3,038 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
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Cheapest home insurance companies in Nashville
Erie Insurance offers the lowest annual premiums in Nashville. On average, Erie customers pay $1,448 a month.
State Farm, charging an average of $1,573, offers the city’s second-lowest home insurance rates.
| Insurance company | Annual premium |
|---|---|
| Erie Insurance | $1,448 |
| State Farm | $1,573 |
| USAA* | $1,691 |
| Allstate | $1,806 |
| Tennessee Farmers | $1,883 |
| Citywide average | $1,921 |
| Farmers | $2,502 |
| Shelter | $2,545 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. *Only available to current/former military and their families. | |
To get the cheapest premium for the amount of coverage you need, compare home insurance quotes from several companies.
Best home insurance companies in Nashville
We found Erie Insurance and State Farm to be the best home insurance companies available in Nashville. Here’s why:
Best rates: Erie Insurance
Erie leads the city in affordable home insurance coverage, charging $1,448 per year, on average. On top of its low average rate, the provider offers several discounts that could bring down the cost even more:
- Multi-policy discount: Average savings of 20% for bundling home and auto coverage
- Advanced quote discount: Savings for policyholders who get a quote before renewing
- Safety credit: Discounts for installing security or fire alarm systems
Best customer satisfaction: State Farm
State Farm offers the best customer service of Nashville’s top home insurers. The company’s J.D. Power satisfaction score tops the list with a rating of 829 (out of 1,000).
What’s more, State Farm is also the city’s second-cheapest insurer. On average, customers pay $1,573 a year for home insurance.
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Customer service ratings for Nashville home insurance companies
When it comes to customer service, State Farm and Tennessee Farmers lead all Nashville home insurance providers.
State Farm has the best overall satisfaction score, according to J.D. Power. Tennessee Farmers has the best National Association of Insurance Commissioners (NAIC) Complaint Index rating, which measures customer complaints.
J.D. Power’s customer satisfaction scores are based on customer surveys that rate home insurers on interaction, policy offerings, price, billing process, policy information and claims. Higher scores are better than lower ones.
| Insurance company | Overall satisfaction score |
|---|---|
| Farmers | 792 |
| Allstate | 815 |
| Erie Insurance | 827 |
| State Farm | 829 |
| Tennesee Farmers | Not included |
| Shelter | Not included |
| USAA | 884* |
| Source: J.D. Power 2022 U.S. Home Insurance Study. *Brand is not rank eligible because it does not meet study award criteria. | |
The NAIC Complaint Index compares insurance companies by confirmed complaints. A company with a 2.0 Complaint Index rating has twice as many confirmed complaints as expected for its size. A 0.5 rating reflects half as many as expected.
| Insurance company | Compliant Index rating |
|---|---|
| Allstate | 0.33 |
| Erie Insurance | 0.14 |
| Farmers | 0.39 |
| Shelter | 0.19 |
| State Farm | 0.35 |
| Tennesee Farmers | 0.03 |
| USAA | 0.31 |
| Source: National Association of Insurance Commissioners (2022 data) | |
Home insurance risks in Nashville
In Nashville, multiple weather events threaten homeowners and their wallets. But among those risks, tornadoes and floods top the list.
Tornadoes
Thunderstorms are common in Tennessee year-round, while tornadoes tend to peak from March to May. However, another smaller tornado season strikes in November.
Thankfully, most home insurance policies cover several of the damages associated with these storms, including wind and hail. The biggest risk for most homeowners, though, is flood damage.
Flooding
Many areas of Nashville can flood during severe storms, so it’s worth checking to see if your home is in a high-risk zone.
Standard policies don’t usually include flood insurance, but you can buy it if you feel it’s needed based on your location and home type.
Frequently asked questions
On average, home insurance in Nashville costs $,1921 a year.
Erie Insurance is the cheapest provider in Nashville, charging $1,448 a year. For most customers, State Farm and Allstate have the next-best rates.
Tennessee state law does not require home insurance, but most lenders do. So, if you have a mortgage, you’ll still likely need to get it.
Methodology
We collected quotes from every ZIP code in Nashville, Tennessee, for a standard HO-3 homeowners insurance policy using the following coverages:
- $275,000 dwelling (unless otherwise noted)
- $27,500 other structures
- $137,500 personal property
- $55,000 loss of use
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible (unless otherwise noted)
Home insurance by city
- Nashville
- Memphis
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