HomeInsuranceQts

Home Insurance in Tennessee

Homes in Tennessee carry a median value of $286,700.

The typical home in Tennessee was built around 1987. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 18% of homes were built before 1960.

In Tennessee, the housing stock is 72% single-family homes, 14% apartments in buildings with 5+ units and 8% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.

58% of owner-occupied homes in Tennessee carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.

Tennessee has an owner-occupancy rate of 67% and a vacancy rate of 10%; unoccupied homes typically need a different coverage form.

In Tennessee, 64% of homes are primarily heated with electricity.

According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Tennessee carries a statewide average premium of $1,649 per year.

Key figures

Median home value$286,700
Median year built1987
Owner-occupied share67%
Share of owner-occupied homes with a mortgage58%
Home insurance premium$1,649 - statewide average (NAIC, 2023 data)

Counties

Sources