Cheap renters insurance

There are six cities in Tennessee with more than 120,000 residents and many of those are renters. To see who in Tennessee has the cheapest and the most expensive renters insurance, our study gathered data for one sample property (a rental property with roughly 1,000 square feet of living space and $100,000 in liability coverage). We found the most expensive municipality had renters insurance rate that were 24% higher than the cheapest. The rates in our study have comparative value but are not indicative of what all tenants can expect to pay for their renters insurance. Enter your zip code to find a list of companies to start shopping for renters insurance quotes.

Cheapest Renters Insurance Companies
Best Renters Insurance Rates: by City
Average Cost of Renters Insurance Rates: by City
Study Methodology
Cheapest Renters Insurance in Tennessee
We researched five companies in Tennessee to find which renters insurance company offered the cheapest annual rate. We used quotes from State Farm, Nationwide, Allstate, Liberty Mutual, and Farmers for a 1,000 square-foot residence and found that based on this sample renters policy, State Farm had the most affordable annual rate at $236, which is 37% lower than the average rate. In contrast, Farmers had the most expensive annual rate for our sample renter policy at $596, which is 58% higher than the average rate. The following table ranks the five companies from least expensive to most expensive:

  1. Rank Cheapest Renters Insurance Company Average Annual Rates
    1 State Farm $236
    2 Nationwide 280
    3 Allstate 385
    4 Liberty Mutual 389
    5 Farmers 596
    Average 377
    These rates were for a sample property. To find the best rates for yourself, we recommend that you get quotes from multiple insurance companies and compare.

Best Renters Insurance Rates in Tennessee: by City
The cheapest renters insurance in Tennessee can be found in areas surrounding Nashville. No single city in Tennessee has exceptionally cheap renters insurance, but all of the top five cheapest places in our study had rates for our sample property that were at least 9.4% lower than the average for the state.

  1. Rank City Average Annual Rate % Difference vs State Average
    1 Clarksville $342 -9.4%
    2 Murfreesboro 343 -9.1%
    3 Columbia 343 -9.0%
    4 Franklin 343 -8.9%
    5 Dickson 344 -8.7%
    *The Average Annual Rate is rounded to the nearst whole dollar amount.

Clarksville, TN
In 2008, the city rebranded, no longer claiming to be a “Gateway to the New South,” but instead “Tennessee’s Top Spot.” The description is accurate, since the city is the most northern point of The Volunteer State. It’s also the fifth largest city in Tennessee. Founded in 1978, the town was named after Revolutionary War hero General Rogers Clark. Clarksville has the cheapest renters insurance in Tennessee, with rates to insure our sample property that are 9.4% lower than the average for the state.

Murfreesboro, TN
The city of Murfreesboro was ranked by Money Magazine in 2008 as the 84th best place to live in the U.S. out of 745 cities with populations more than 50,000. It was the the capital of Tennessee until 1826, and served as an Union Army base during the Revolutionary War and the site of the Battle of Stones River. These days, the city continues to grow in population with one of the county’s biggest employers, Nissan. We found the second most affordable renters insurance quotes in Tennessee in Murfreesboro for our sample property, which was 9.1% lower than the average for the state.

Columbia, TN
As the home for the Sons of Confederate Veterans, Columbia is also known as the “Mule Capital of the World” in honor of it annual festival, for which thousands of mules are brought to town. Events include the Mule Day Parade, «Who Wants to be a Mule-ion-aire?» T-shirts, a liar contest, and a Mule Day Beauty contest, featuring a queen, which Lynnette Cole won before her reign as Miss USA in 2000. With sample property rates 9% lower than the average for the state, Columbia has the third lowest renters insurance rates in our study.

Franklin, TN
In 2009, the National Trust for Historic Preservation deemed the city of Franklin a “Distinctive Destination” because of the town’s ability to preserve its past with authentic experiences while acknowledging modern culture and diversity. The same year, the American Planning Association ranked its downtown area as one of the country’s “Top 10 Great Neighborhoods.” With a population of about 66,000 residents, the town is home to multiple Fortune 500 Companies and was recognized by Businessweek as one of the “Top 50 Cities to Start a Small Business.” Tenants in Franklin also have some of the best renters insurance rates in Tennessee, with quotes for our sample property 8.9% lower than our study’s average for the state.

Dickson, TN
Less than an hour away from the state capital, Dickson is part of the U.S. Census Bureau’s Nashville Metropolitan Statistical Area. With a population of almost 15,000 residents, the town is home to a few famous people including country singer Craig Morgan, actor Anson Mount and Major League Baseball pitcher Kyle Mitchell. The cost of renting our study’s sample property are 8.7% lower in Dickson than the average for the state sample — this ranks Dickson with the fifth lowest costs for renters insurance in TN.

Most Expensive Renters Insurance in Tennessee
All except one of the most expensive places to insure our study’s sample rental property are located in the Grand Division of West Tennessee. The division is bordered by the Tennessee River and Mississippi River but only one of the most expensive places (Memphis) is next to either body of water. The most expensive place to insure the sample property in the study was 12.6% costlier than the average for the state.

  1. Rank City Average Annual Rate % Difference vs State Average
    1 Union City 425 12.6%
    2 Paris 420 11.3%
    3 Livingston 417 10.7%
    4 Milan 417 10.5%
    5 Memphis 413 9.6%
    *The Average Annual Rate is rounded to the nearst whole dollar amount.
    Union City, TN
    Home to a little more than 10,000 people, Union City hosts the annual Spring Heritage Days Folks Festival. During this event, the town is transformed to highlight the skills and creations made in the past with music and southern tradition. The city also hosts the Obion County Fair. One of the city’s major employers includes Goodyear Tires. Union City was the most expensive place to insure the study sample property, with quotes 12.6% higher than the average for the state.

Paris, TN
Paris, Tennessee is most well known for The World’s Biggest Fish Fry, where more than five tons of fried fish are cooked for thousands of visitors every April. The city also features a model of the Eiffel Tower, a winery, historic district, an antique mall and the famous Clifty Farms. It also has the second most expensive renters insurance rates for our sample property. Rates in Paris, Tennessee are 11.3% higher than the study average for the state.

Livingston, TN
The town was originally purchased for only $200 in 1833. Though it has expanded over the years, it is still considerably small with fewer than 4,000 residents. The city itself was named after Edward Livingston, who served as Secretary of State during Andrew Jackson’s presidency. With rates 10.7% higher than the average to insure the sample property in the state, Livingston has the third most expensive renters insurance costs in Tennessee.

Milan, TN
Named after Milan, Italy, it was known as the “Bullet Town” because of the Milan Arsenal, which created ammunition during World War II. Thanks to the arsenal’s presence during this time period, the city rapidly developed. Today, Milan has multiple history museums including the Browning Gordon Museum and the Museum of Magic and History. Renters insurance quotes are 10.5% higher that the state average to insure the study sample property.

Memphis, TN
Not only is Memphis the largest city in Tennessee, it is the biggest city on the Mississippi River. It’s a city with a robust amount of culture, music and history that includes country music stars, entertainment and the civil rights movement. Memphis also has some of the most expensive renters insurance costs in our analysis. Residents pay 9.6% more than the state average to insure the study sample property.

Average Cost of Renters Insurance Rates in Tennessee: by City
To calculate a mean renters insurance rate of $377 for the state of Tennessee, our study gathered quotes from five major carriers across 69 cities for the previously mentioned sample property. In Tennessee, we found the place with the most expensive renters insurance had premiums that were 24% higher than the cheapest. In other states, where the identical sample property was tested, the most expensive city in Delaware is only 7% more expensive that the cheapest, while premiums for the most expensive city in California cost more than 2x the cheapest.

Study Methodology
Our study examined renters insurance quotes for a 1,000-square-foot residence with at least $25,000 in personal property coverage and $100,000 in liability coverage. We then collected quotes for that sample residence from five of the major carriers that offer a renters insurance product in the state of Tennessee. We averaged rates for the sample home in each city as a benchmark to show which cities are relatively cheaper or more expensive. Those rates have comparative value but are not indicative of what tenants can expect to pay for an annual renters insurance premium.

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Allstate Renters Insurance
Home is where you keep the things that matter to you. Allstate Renters Insurance can help you protect that stuff if something bad happens to it or your rental. The coverage is dependable and costs less than you might think—in some cases, it costs as much as your morning latte. Talk to an agent about a renters insurance quote now.

Even with renters insurance, you may want to look at more policies to further protect the things you own and guard against the unexpected. Your agent can help guide you through the details so you can make choices that fit your needs.

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Have questions about your renters insurance coverage or need a little help? Never fear. Your Allstate policy comes with access to a local agent. He or she knows the ins and outs of renters insurance and will be happy to share the knowledge. Your agent can help you:

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You may have heard that renters insurance is a good idea, but do you know what a policy helps protect? Get simple answers about what goes in a renters policy, such as property coverage, guest medical and family liability coverage.

All too often, renters don’t get insurance coverage because they’re concerned about the cost. Allstate Renters Insurance is not only reliable, but it’s also affordable. You may be able to pay as little as $4 a month for it when you add it to your Allstate auto policy. That’s a small price to pay to know the things you own are well protected. See the savings you can get, and ask for a renters insurance quote today.