We’ve done our research to help Tennessee renters understand renters insurance in the Volunteer state. We’ve analyzed the average cost, discounts available, and more to give you the inside scoop.
Average Renters Insurance Cost in Tennessee
Some renters believe their belongings are covered under their landlord’s insurance policy, but that’s not the case. In Tennessee, renters pay roughly $212 a year, according to our research. While that’s 13% more than the national average, its affordable when you consider the thousands of dollars worth of your belongings it protects. Think of it this way– working only 29 hours, at minimum wage, would pay for a year’s worth of protection. If you inventory everything you own and think about the expense of replacing it, renters insurance pays for itself.
Tennessee Rental Insurance Coverage
In 2012, 56,181 break-ins were reported in Tennessee. If your things are damaged, destroyed, or stolen during a burglary, rental insurance can help cover the cost of replacing them.
Renters insurance also protects your possessions in the event of a fire, vandalism, storm, or other covered event. Your belongings may even be covered when they are outside of your rental (on a business trip or vacation). Plus, your rental policy can also include liability insurance that can protect you if a guest is injured in your residence. With all the coverage renters insurance offers, you shouldn’t go without it.
Save with Discounts
The amount you are quoted for your renters insurance is dependent on a number of factors, including: the area you live in, the things you own, claims history, and other policies from insurance companies you might currently have. See if you qualify for the following discounts:
Multi-Policy: Combine insurance policies to save more money.
No Prior Claims: If you’ve never filed a claim, you’ll save on your rental insurance premium.
Safety Devices: Pay less if you install smoke detectors, anti-theft systems, or other safety devices.
Higher Deductibles: Lower your renters insurance premium by raising your deductible. Just know that the higher the deductible, the more you’ll have to spend out-of-pocket if you file a claim.
Facts About Tennessee Renters
Of all people who live in Tennessee, 32% rent. If those renters lease a two-bedroom apartment, they spend roughly $749 per month. Considering that an annual renters insurance policy in Tennessee is just $212, you can see how the benefits far surpass its small cost.
Talk To an Expert
Think you are ready to start shopping around, or are there still questions you have? Call [mapi-phone /] to speak with a Tennessee insurance expert who knows the ins and outs of renters insurance near you.