Home Insurance in Covington, Tennessee
The median home value in Covington is $185,900, 23% lower than the Tipton County median.
The typical home in Covington was built around 1977. About 32% of homes were built before 1960, about 19 points above Tipton County's 13%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
Housing in Covington breaks down to 73% single-family homes, 9% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
In Covington, about 53% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Covington has an owner-occupancy rate of 45% and a vacancy rate of 11%; unoccupied homes typically need a different coverage form.
Most homes in Covington - 55% - are primarily heated with electricity.
Tipton County had 156 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is earthquake (Relatively Moderate). See the full Tipton County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
The statewide average premium for a standard HO-3 homeowners policy in Tennessee is $1,649 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $185,900 |
|---|---|
| Median year built | 1977 |
| Owner-occupied share | 45% |
| Share of owner-occupied homes with a mortgage | 53% |
| Top county hazard | Earthquake (Relatively Moderate) |
| Active NFIP policies in Tipton County | 156 |
| Home insurance premium | $1,649 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)