Table of Contents
- How much does renters insurance cost in Nashville?
- Average price of renters insurance in Nashville
- The cheapest renters insurance in Nashville: State Farm
- The best renters insurance in Nashville: State Farm (again)
- Other Nashville renters insurance providers you should consider
- More about renters insurance providers in Nashville
- Other things you should know about renters insurance in Nashville, TN
- How we obtained our data on renters insurance prices for Nashville, TN
How much does renters insurance cost in Nashville?
The price of renters insurance in Nashville averages about $21.52 per month, which is just a bit more expensive than the national average of $20 per month.
The highest renters insurance rates we found in Nashville were from Progressive at $29.08 per month. State Farm offers the lowest rates per month at $15.17.
There are several factors that influence how providers calculate renters insurance rates in Nashville, including:
- Extreme weather: Over the last decade, Nashville has seen more than its share of natural disasters. Because renters insurance covers many forms of weather damage, including wind and lightning damage, this affects how much insurers charge for their services.
- Crime: Because renters insurance covers theft, your city’s crime rate also affects your monthly premiums. Nashville has a relatively high crime rate, which is partially responsible for its higher-than-average prices.
- Your chosen coverage and deductible: It stands to reason that the amount of coverage that you choose affects the price you’ll pay for your policy. So does your renters insurance deductible, which is the amount that you have to pay out of pocket when you file a renters insurance claim. A higher deductible will lower your premiums, whereas a lower deductible will raise them.
- Your credit score: Renters insurance providers are allowed to run your credit in Nashville, TN, which means that if you have a low credit score, your insurance company will charge you more.
Average price of renters insurance in Nashville
The table below shows the average price of renters insurance offered by each major insurer in Nashville on a monthly and yearly basis.
| Insurer | Price (monthly) | Price (yearly) | Difference from average |
|---|---|---|---|
| Allstate | $26.42 | $317.04 | +$4.90 |
| GEICO | $17.92 | $215.04 | -$3.60 |
| Progressive | $29.08 | $348.96 | +$7.56 |
| State Farm | $15.17 | $182.04 | -$6.35 |
| Liberty Mutual | $20.58 | $246.96 | -$0.94 |
| Nationwide | $16.58 | $198.96 | -$4.94 |
| Lemonade | $16.17 | $194.04 | -$5.35 |
The cheapest renters insurance in Nashville: State Farm
State Farm is Nashville’s most affordable renters insurance provider, with monthly rates of $15.17 — exactly one dollar less than the rates offered by their cheapest competitor, Lemonade, and significantly lower than Nashville’s citywide average of $21.52 per month.
Should you get State Farm renters insurance in Nashville?
Most renters insurance providers write their policies from the same basic template, which means that State Farm’s renters insurance is very similar to their competitors’. Still, State Farm offers a few things that give them a slight edge.
Advantages of State Farm renters insurance in Nashville, TN
- Solid customer service: State Farm is one of the largest insurers in the country, which means that they have a large network of agents in almost every city. Nashville is no exception — if you need to get in touch with a local State Farm agent, finding one will be very easy.
- State Farm is very dog-friendly: Nashville is a city that loves dogs. In 2013, Metro Davidson County did away with breed-restrictive legislation, allowing residents to own whatever breed they pleased. Unfortunately, some renters insurance companies refuse to cover certain breeds, including pit bulls. State Farm is the only major insurer that has promised to never do this — they never ask about your dog’s breed when you purchase renters insurance.
- Inflation coverage: State Farm will adjust the limit on your personal property coverage to keep pace with inflation. This feature comes standard with all of their renters insurance policies.
Disadvantages of State Farm renters insurance in Nashville, TN
As with most insurance companies, State Farm has its shortcomings. We’ll lay out a few things about State Farm that might mean they’re not the best choice for you:
- Clunky website: If you’d prefer to handle your policy online and don’t want to spend time talking on the phone with agents, State Farm may not be the best fit for you. While their app is relatively straightforward to use, their website isn’t the easiest to navigate. It also sometimes breaks when you’re in the process of filling out forms, e.g. when you’re filing a claim, which forces you to start all over again.
- Limited bundling options: Most providers offer bundling discounts when you combine your auto and renters insurance, and State Farm is no exception. However, unlike some other insurers, they don’t offer bundling discounts for combining renters insurance with anything else. For instance, if you’d like to purchase a life insurance policy with your renters insurance, you won’t receive a bundling discount.
- No flood insurance: Renters insurance almost never covers flooding, but some providers offer endorsements or riders that add flood coverage. Unfortunately, State Farm doesn’t offer one, and they also don’t provide flood insurance policies through the National Flood Insurance Program (NFIP) the way that some of their competitors do, which means that if you want flood coverage, you’ll have to look elsewhere.
The best renters insurance in Nashville: State Farm (again)
Overall, we found that the best renters insurance in Nashville was also the cheapest. Despite their downsides, State Farm offers the best renters insurance in the city for the price.
We’ve already listed State Farm’s main advantages, but they offer a few other perks that are especially relevant to residents of the Music City:
Business property coverage for musical instruments and work equipment
If you’re a musician (and who isn’t one in Nashville?) or you’re operating a small business out of your rental property, State Farm offers a few add-ons you might find worthwhile, including a rider that provides additional business property coverage.
This rider covers property you use for work, which renters insurance normally only covers to a limited degree. Note that if you’re a professional musician, your instruments and any accessories you have (e.g. a sound system) count as business property.
Professional liability insurance for nurses
If you’re a nurse in Nashville (and there are many — the healthcare industry is the largest provider of jobs in the city), State Farm offers a rider that provides professional liability coverage.
This rider covers your legal liability for injuries that occur while you’re on the job. It’s available to RNs (registered nurses), LPNs (licensed practical nurses), and VNs (vocational nurses). Call your State Farm agent for more details.
Cybercrime coverage
State Farm offers a rider that covers identity theft and cybercrime — great for people in the tech industry, which is also ubiquitous in Nashville. It covers losses caused by identity fraud, data breaches, and ransomware, as well as the cost of identity restoration and credit monitoring services. Again, check with your local agent for details.
Other Nashville renters insurance providers you should consider
While State Farm offers plenty of perks, it isn’t right for everyone. Here are a few other insurance providers who may suit you better if you’re:
- A first-time renter or a college student
- From a military background
Best Nashville renters insurance for young renters and students: Lemonade
If you’re a young, tech-savvy renter or college student who needs renters insurance, Lemonade is a good choice. Lemonade provides renters insurance entirely through their mobile app, so you can quickly and easily purchase and manage your policy and file claims without ever having to talk to an agent on the phone.
Lemonade has also won a lot of younger fans with their Giveback program. When you sign up for one of their policies, you pick a charity from a long list, and every year, Lemonade will donate a portion of your unused premiums to the organization that you chose.
Best Nashville renters insurance for veterans and military family members: USAA
Although the Fort Campbell military base in Campbell, KY is about an hour away from Nashville, there are plenty of veterans and members of military families who’ve settled here.
No matter where you live, if you’re from a military background, then USAA is your best option for renters insurance, hands down. Not only do they have consistently high customer service and consumer satisfaction ratings, but their prices are also very affordable. They’re also the only renters insurance company that offers flood and earthquake coverage in their standard policies.
The downside is that they only offer their policies to military servicemembers, veterans, and the spouses and children of other USAA members. If you’re ineligible, you’ll have to pick a different provider.
More about renters insurance providers in Nashville
For more information, check out our reviews of all the top-rated renters insurance providers. We’ll break down everything you need to know about renters insurance so you can pick a policy in Nashville.
Read our reviews of:
Other things you should know about renters insurance in Nashville, TN
Below, we’ll answer some of the most frequently asked questions about renters insurance in Nashville. We’ll also share the data we used to obtain our quotes.
Is a credit check required for renters insurance in Nashville?
Yes, you will need to undergo a credit check to get renters insurance if you live in Nashville. There are a few states that impose legal restrictions on how insurers can use your credit to determine your premiums, but Tennessee isn’t one of them. For more, read our guide on getting renters insurance with no credit check.
Can landlords require renters insurance in Nashville?
Yes. Renters insurance isn’t legally required in Nashville — in fact, unlike auto insurance, it isn’t legally required anywhere in the country — but it’s perfectly legal for landlords themselves to require it. Your landlord has the right to decline to rent to you if you refuse to get a policy, or to evict you if you move in and let your policy lapse.
How we obtained our data on renters insurance prices for Nashville, TN
We gathered pricing data from the most popular insurers in the Nashville area. We provided the following information to the insurance companies, which affected the quotes we received:
- Insured party: Male, 30-years old, unmarried, employed, with no pets
- Personal property coverage: $30,000
- Personal liability coverage: $100,000
- Guest medical coverage: $1,000
- Loss-of-use coverage: Insurer’s default (usually based on personal property coverage)
- Deductible: $500
Unless you fit that profile exactly, your quotes will be a bit different than ours. However, the price of renters insurance doesn’t usually vary much, so the differences won’t be extreme.
Note: These quotes also don’t include additional charges, such as the installation fees or down payments that some insurers tack on. To learn more about these, read our post on how to get renters insurance without a down payment.
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