Best and Cheapest Renters Insurance in Tennessee for 2025 (10 Most Affordable Companies)

For renters seeking top-tier protection at the lowest cost, Geico, USAA, and State Farm provide the best and cheapest renters insurance in Tennessee, starting at $14 per month.

Geico stands out with bundling discounts and flexible coverage options, helping renters save more when combining policies. Military families get specific benefits from USAA, such as flood protection and replacement cost coverage, which makes it a great alternative for qualifying policyholders. You may get dependable coverage at a price you can afford with State Farm's huge discounts and great claims satisfaction.

Insurance Company	Rank	$500 Deductible	A.M. Best	Best For	Jump to Pros/Cons
	#1	$15	A++	Low Rates	Geico
	#2	$16	A++	Exclusive Membership	USAA
	#3	$17	A++	Extensive Discounts	State Farm
	#4	$18	A	Competitive Bundling	Farmers
	#5	$19	A+	Digital Efficiency	Progressive
	#6	$20	A+	Local Agents	Allstate
	#7	$22	A	Flexible Plans	Liberty Mutual
	#8	$23	A+	Multi-Policy Savings	Nationwide
	#9	$24	A	Loyal Customers	American Family
	#10	$25	A++	Digital Efficiency	Travelers

While some may consider self-insurance, relying solely on personal savings can be risky if disaster strikes. With Geico's average renter's insurance claim payout topping $8,000, having solid coverage matters.

Compare your options using our free comparison tool to compare quotes and find the cheapest insurance available instantly.

What You Should Know

• USAA stands out as the best choice for military families because of its exclusive perks and coverage
• Get the best and cheapest renters insurance in Tennessee, with rates starting at $14 per month
• Geico provides bundling discounts, while State Farm offers strong claims service and multiple ways to save

#1 – Geico: Top Overall Pick

Pros

• Lowest Rates for Tennessee Renters: At $15 deductible per month, Geico provides affordable coverage with substantial policy benefits, making it an excellent option for budget-conscious renters.
• Bundling Can Lower Costs by 25%: Renters who combine their Geico renters and auto policies receive a 25% bundling discount—one of the highest in Tennessee.
• Superior Financial Strength: Geico maintains an A++ rating from A.M. Best, which ensures claim reliability and stability. Our Geico renters insurance review provides more information about this provider.

Cons

• Employs Third-Party Underwriters: Geico does not underwrite its renter's insurance, so partners handle claims instead of Geico's rivals like USAA and State Farm.
• Limited Endorsements Compared to Competitors: Does not offer pet coverage, personal injury liability, or appliance protection add-ons, which American Family and Farmers include.

#2 – USAA: Best for Exclusive Membership

Pros

• Competitive Renters Insurance Rates in Tennessee: USAA offers $16 deductible per month, $1 cheaper than State Farm and $2 lower than Farmers. Learn more in our USAA insurance review.
• Comprehensive Coverage for Military Members: Includes replacement cost coverage (no depreciation), uniform protection, and flood insurance—features unavailable with most competitors.
• Outstanding Financial Stability: Possesses the highest possible score of A.M. Best (A++), guaranteeing prompt and dependable claims processing.

Cons

• Only for Military Families: USAA is exclusive to active-duty service members, veterans, and their families, so general renters in Tennessee are out of luck.
• Limited Local Agents for In-Person Support: USAA primarily operates digitally, with fewer physical offices than Allstate or State Farm in Tennessee.

#3 – State Farm: Best for Extensive Discounts

Pros

• Multiple Discount Options for Tennessee Renters: Offers home security system discounts (5-10%), multi-policy discounts (up to 17%), and claims-free discounts (up to 20%).
• Largest Local Agent Network in Tennessee: With over 400 agents across Tennessee, renters receive personalized policy recommendations and claims support.
• Rock-Solid Financial Strength: Backed by an A++ rating from A.M. Best, so you can count on reliable claims service. Check out insurance savings in our complete State Farm insurance review.

Cons

• Limited Coverage Options: No pet damage or home-based business coverage, so renters needing extra protection might want to look elsewhere.
• No Identity Theft Protection Add-On: Unlike American Family or Farmers, it does not offer identity fraud coverage as a policy endorsement.

#4 – Farmers: Best for Competitive Bundling

Pros

• High Bundling Discount for Tennessee Renters: Offers up to 18% in savings for bundling renters, home, or auto insurance, making its $18 per month rate more competitive.
• Covers Business Equipment and Home-Based Work: One of the few Tennessee insurers offering coverage for at-home business property up to $5,000.
• Excellent Financial Stability: A rating from A.M. Best means consistent payouts and reliable claims service. Discover more about offerings in our Farmers insurance review.

Cons

• Restricted Accessibility of Specific Discounts: Tennessee renters may lose out on possible savings since some premium reductions, such as those for a security system or claims-free discounts, are not as frequently available.
• Discounts Aren’t Automatically Applied: Renters must request specific discounts, unlike State Farm, which applies them automatically.

#5 – Progressive: Best for Digital Efficiency

Pros

• Tennessee Renters Can Use ‘Name Your Price’ Tool: Helps policyholders set a budget and adjust coverages to match their financial needs.
• Fully Digital Claims Processing: Renters in Tennessee can file and track claims 24/7 through Progressive’s highly rated mobile app.
• High Financial Strength Rating: Backed by A.M. Best’s A+ rating, ensuring strong payout reliability.

Cons

• More Expensive Than Competitors: At $19 deductible per month, it’s $4 more than Geico and $3 more than USAA, making it one of the pricier choices.
• Lacks Exclusive Renters Discounts: Progressive’s discounts primarily apply to auto policies, not renters insurance alone. Access comprehensive insights into our Progressive insurance review.

#6 – Allstate: Best for Local Agents

Pros

• Strong Local Agent Presence in Tennessee: With over 200 licensed agents across the state, renters can get in-person policy guidance and claims assistance.
• Customizable Policy Add-Ons: Includes scheduled personal property endorsements for jewelry, electronics, and collectibles, plus additional living expenses (ALE) coverage if a rental unit becomes uninhabitable.
• High Financial Stability: A.M. Best's A+ rating supports consistent payouts and dependable claim processing. Delve into our evaluation of Allstate insurance review.

Cons

• Higher Deductibles for Lower Premiums: Renters might want to go with a higher deductible to bring down their $20 deductible per month, but that also means paying more out of pocket if they ever need to file a claim.
• Policy Customization is Limited for Renters: While home insurance customers have more flexibility, renters have fewer options for specialized coverage, such as short-term rental protection or home office coverage.

#7 – Liberty Mutual: Best for Flexible Plans

Pros

• Customizable Policy Limits: Renters can adjust personal property coverage from as low as $15,000 to as high as $100,000, allowing for tailored coverage.
• Bundling Discount Can Save Up to 12%: Those who combine renters insurance with a Liberty Mutual auto policy can reduce overall costs.
• High Financial Strength for Stability: Holds an A rating from A.M. Best, meaning Liberty Mutual maintains financial stability and pays claims efficiently.

Cons

• Expensive Renters Insurance in Tennessee: With a $22 deductible per month, it is one of the priciest options.
• Fewer Renters-Specific Savings Opportunities: Most discounts apply to auto and home policies, leaving limited cost reductions for standalone renters insurance. Our Liberty Mutual renters review provides more information about this provider.

#8 – Nationwide: Best for Multi-Policy Savings

Pros

• Tennessee Renters Save by Bundling: Renters who combine their auto and renters insurance get an average of 15% in savings, significantly reducing the $23 deductible per month.
• Identity Theft Protection Standard: Unlike most competitors where this is an add-on, Nationwide includes identity theft protection in its base policy, covering fraud-related losses up to $25,000.
• Financial Strength for Claims Reliability: Holds an A+ rating from A.M. Best, meaning fast payouts and solid claims handling. Unlock details in our Nationwide insurance review.

Cons

• Higher Base Premium Without Discounts: Renters who don’t bundle policies pay a higher $23 deductible per month, making it less cost-effective for those needing only renters insurance.
• Limited Customization Options: Lacks specific add-ons like replacement cost coverage, which State Farm and Farmers offer.

#9 – American Family: Best for Loyal Customers

Pros

• Loyalty Discount for Long-Term Tennessee Renters: Customers who maintain policies for 3+ years qualify for American Family’s Generational Discount on their $15 deductible per month.
• Identity Theft and Fraud Coverage Standard: Unlike most competitors, identity fraud protection is included for free rather than an expensive add-on.
• Outstanding Customer Service: Get the coverage you need with no worry thanks to our speedy claims processing and helpful support. See more details on our American Family insurance review .

Cons

• Limited Availability in Rural Areas: If you live outside major Tennessee cities, finding an American Family office might be tricky compared to State Farm or Allstate.
• Fewer Policy Customization Options: While it includes standard coverage, American Family lacks specialty endorsements like pet damage protection or home-based business coverage, which Farmers offers.

#10 – Travelers: Best for Digital Efficiency

Pros

• Tech-Savvy Claims and Policy Management: One of Tennessee's most technologically savvy insurers, Travelers offers tenants a mobile app that lets them submit claims, view policy data, and communicate with agents around-the-clock.
• Eco-Friendly Discount for Green Rentals: This offer offers up to 5% savings for renters who live in LEED-certified or energy-efficient buildings, a feature few competitors provide.
• Superior Claims Stability: One of only a few renters insurance providers in Tennessee to hold the highest A++ rating from A.M. Best, ensuring strong financial backing and reliable claims payouts.

Cons

• High Base Premium at $28 per Month: Most expensive policies cost $10 more than Geico and $9 more than USAA. Discover insights in our Travelers renters insurance review.
• Minimal Renters-Specific Discounts: While it offers multi-policy savings, it lacks a claims-free or security system discount that State Farm and Geico provide.

Best Renters Insurance Providers for Budget-Conscious Tenants

Your Tennessee renters insurance premium is greatly influenced by your choice of deductible. Your monthly payments will be more if you have a $500 deductible, but you will pay less out of pocket should you file a claim. In contrast, a $2,000 deductible reduces your monthly rate but requires a larger upfront payment when you file a claim.

Insurance Company	$500 Deductible	$1,000 Deductible	$2,000 Deductible
	$20	$19	$17
	$24	$22	$20
	$18	$15	$14
	$15	$12	$10
	$22	$20	$18
	$23	$21	$19
	$19	$18	$16
	$17	$16	$13
	$25	$23	$21
	$16	$14	$12

If you want the lowest renters insurance, Geico is the best option, with premiums starting at $10 a month for a $2,000 deductible and $15 for a $500 deductible. USAA and State Farm are also good choices, with USAA asking $12 for the highest deductible and $16 for the lowest. State Farm charges $13 for a $2,000 deductible and $17 for a $500 deductible. Farmers offers a good middle ground with $18 for a $500 deductible and $14 for a $2,000 deductible. Meanwhile, Travelers is the priciest, charging $25 per month for a $500 deductible and $21 for a $2,000 deductible.

For renters wanting the most affordable coverage, Geico, USAA, and State Farm offer the lowest rates. If you prefer a low deductible without breaking the bank, Farmers and Allstate are worth considering. The key is to compare deductible options so you can find the best mix of savings and protection—without overpaying for coverage you don't need.

Learn more: Best and Cheapest Renters Insurance

Renters Insurance for Tennessee: Coverage Limits and Monthly Costs

Your Tennessee renters' premiums directly relate to the level of personal property coverage you decide upon. USAA gives the lowest rate at just $10 per month if you go with $30,000 in coverage; Liberty Mutual charges the highest at $19. Increasing to $50,000 in coverage, Progressive keeps it affordable at $15 per month, while Nationwide goes up to $21.

If you need $70,000 in coverage, USAA still leads with the cheapest rate at $17, while Liberty Mutual is the most expensive at $26. While higher coverage raises monthly premiums, it ensures valuable belongings like electronics, furniture, and jewelry are fully protected.

Insurance Company	$30K	$50K	$70K
	$15	$19	$24
	$18	$22	$25
	$14	$17	$21
	$12	$16	$20
	$19	$23	$26
	$17	$21	$24
	$11	$15	$19
	$13	$17	$19
	$16	$20	$23
	$10	$13	$17

For renters looking for the cheapest renters insurance for Tennessee, Geico, USAA, and Progressive offer the most budget-friendly options. Progressive has the lowest starting rate at $11 per month for $30K in coverage and only $19 for $70K, while Geico follows at $12 and $20, respectively. State Farm offers a decent combination of price and reliable protection, coming in at $13 per month for $30K and $19 for $70K. They are less suitable for renters on a tight budget because Travelers charges $23 a month for $70K in coverage, while Liberty Mutual charges $26.

USAA, Geico, and Progressive offer the most cost renters insurance in Tennessee across all coverage levels. For those who are willing to pay more for additional policy benefits, Allstate and Liberty Mutual may be worth considering.

Learn more: Buying Insurance Direct vs. Through an Agent

Balancing Coverage and Cost for Tennessee Renters

Your renter's Tennessee insurance rate closely relates to the degree of personal property coverage you select. Starting at $17 a month for $15K in coverage and $27 for $50K, USAA has the lowest rates; Geico and Progressive remain reasonably priced at $18–$19 for $15K and $28–$29 for $50K. On the higher end, American Family and Liberty Mutual charge $34 per month for $50K, nearly double USAA’s rate.

Insurance Company	$15K Personal Property Coverage	$30K Personal Property Coverage	$50K Personal Property Coverage
	$20	$25	$30
	$26	$31	$34
	$25	$30	$33
	$18	$23	$28
	$23	$28	$34
	$22	$27	$30
	$19	$24	$29
	$21	$26	$31
	$24	$29	$32
	$17	$22	$27

USAA, Geico, and Progressive offer the best rates for renters seeking reasonably priced insurance. State Farm and Nationwide fall in the mid-range at $21–$22 for $15K and $30–$31 for $50K, while Liberty Mutual and Travelers are among the most expensive, with Travelers reaching $32 per month for $50K.

USAA, Geico, and Progressive are the greatest values for renters on a tight budget, while Liberty Mutual and American Family offer more benefits. Choosing the correct plan requires balancing price and enough coverage for your things.

See more: How long does it take to get renters insurance?

Unlocking the Best Renters Insurance Discounts in Tennessee

Bundling policies, keeping claims-free, installing security systems, and using loyalty discounts will let Tennessee renters insurance save up to 29% on their insurance. For renters wishing to mix auto, renters, or homeowners insurance with one carrier, State Farm provides the most bundling discount at 20%. American Family offers the most substantial security system discount at 29%, which is ideal for renters using monitored alarm systems, motion sensors, or smart home security.

Insurance Company	Bundling	Claims-Free	Security Systems	Loyalty	AutoPay
	15%	20%	10%	8%	7%
	10%	22%	29%	10%	7%
	12%	25%	10%	7%	7%
	18%	15%	10%	12%	7%
	14%	20%	10%	6%	7%
	11%	18%	10%	9%	7%
	16%	21%	10%	10%	7%
	20%	24%	17%	12%	6%
	13%	16%	10%	8%	7%
	10%	23%	10%	11%	7%

Farmers provides the best claims-free discount at 25%, rewarding policyholders who have gone multiple years without filing a claim. Geico gives long-term renters a 12% loyalty discount, while USAA offers 11% savings, making them solid choices for military families and committed renters. Progressive and Nationwide also offer great savings, with Progressive knocking 16% off for renters with security systems and Nationwide cutting 18% for those with a clean claims record.

Comparing financial soundness claims handling and available discounts will help you, if you rent in Tennessee, lock in the cheapest renters insurance while still obtaining the correct liability coverage and protection for your valuables. For more insights and ways to save, explorepopular renters insurance posts that highlight additional cost-saving strategies and provider comparisons.

Essential Renters Insurance Coverages for Tennessee Residents

If something covered by your renter's insurance policy were to happen and render your rental unit uninhabitable, you would be financially protected for your possessions, legal defense costs, and extra living expenses. Particularly crucial is loss of use coverage, which assists tenants in covering related expenses, such as meals and temporary housing, while repairs are being completed.

A crucial component is medical payments coverage, which covers visitor injuries sustained on the rental property regardless of who is at fault. With renter insurance, tenants can avoid paying out of pocket for costly damages or liability claims.

Insurance Company	Loss of Use	Medical Payments	Flood Coverage	Earthquake Coverage	Replacement Cost Coverage	Gap Insurance
	✅	✅	✅	✅	❌	✅
	✅	✅	❌	✅	✅	✅
	✅	✅	❌	✅	✅	❌
	✅	✅	❌	❌	✅	✅
	✅	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅	❌
	✅	✅	❌	❌	✅	✅
	✅	✅	✅	✅	✅	✅
	✅	✅	❌	✅	❌	✅
	✅	✅	✅	✅	✅	✅

Review your coverage options since different policies have distinct characteristics. Coverage for replacement costs ensures that you fully value stolen or damaged goods rather than receiving a depreciated refund. You'll want more protection if your neighborhood is prone to floods or earthquakes.

For those looking for cheap renters insurance in Tennessee, USAA and Travelers provide both flood and earthquake coverage, while State Farm, Geico, and Liberty Mutual only cover earthquakes. Farmers and Nationwide skip both, so if you're in a high-risk area, they may not be the best fit.

Some renters choose gap insurance for extra financial protection, which helps cover coverage deficits on expensive items or unforeseen damage charges. Progressive, American Family, and Allstate are among the insurers that provide it, although not all of them do. Finding the best renters insurance in Tennessee is about balancing price and coverage to ensure renters have the right level of protection for their needs.

Key Factors That Impact Renters Insurance Costs in Tennessee

A lot of elements affect renters' insurance rates in Nashville and Memphis, including apartment size, location, and amenities but not only ones. Apartments in more affluent regions or those with better safety measures may have cheaper premiums, but older buildings or locations with greater crime rates may have more expensive insurance. Regardless of rent prices, having renters insurance in Memphis, TN, and renters insurance in Nashville, TN, is essential to protect against financial losses from theft, fire, or unexpected damages.

This is especially important for college students renting off-campus apartments, as their belongings aren't covered under a parents' homeowners policy as they would be in a dorm. To keep costs low, students can bundle renters and auto insurance, avoid insuring unnecessary high-value items, and ensure each roommate has their separate policy. Understanding how rent prices and location affect renters insurance can help tenants in Tennessee secure the right coverage at the best price.

Learn more: Renters Insurance Guide for Off-Campus College Students

Simple Strategies to Reduce Your Renters Insurance Premium

Although renters' insurance is somewhat reasonably priced, you shouldn't pay more than necessary. Here are five simple tips to save money and keep more money in your pocket whether you search for renters insurance for Nashville or any other part of Tennessee.

• Install Safety Features: Adding a burglar alarm, smoke detectors, or deadbolt locks reduces the risk of damage or theft, which can qualify you for policy discounts.
• Raise Your Deductible: Although a greater insurance deductible reduces your monthly premium, you should ensure that you have the funds to cover the deductible in the event of a claim.
• Ask for Discounts: Many insurers offer savings for being claims-free, having good credit, or being a loyal customer—ask about all available discounts.
• Bundle Your Policies: Combining renters and auto insurance under the same provider can unlock multi-policy discounts and reduce overall costs.
• Pay in Full: Paying all at once rather than monthly will help you avoid additional costs and perhaps get a paid-in-full discount.

Also, keep in mind that your credit score affects insurance premiums—a higher score can help you lock in lower rates. Comparing different policies and working with an agent can help renters find the best and most affordable coverage. If you're specifically looking for Memphis renters insurance, checking for local provider discounts and crime-related coverage options can also help you secure better rates and stronger protection.

Transparency in Renters Insurance Ratings and Rankings

Clearsurance keeps things transparent and straightforward when ranking renters insurance companies, relying entirely on honest customer feedback instead of hidden formulas. The ranking system looks at what actual policyholders have to say about their experiences.

• Price: How affordable the policy is compared to the coverage provided
• Customer Service: How easy it is to get help and answers
• Claims Process: How smoothly and fairly claims are handled
• Renewal Likelihood: How many people stick with the company year after year

The system also considers what customers say a company does well vs. where it could improve, creating rankings that reflect real experiences. Since everything is based on genuine customer reviews, Clearsurance takes the guesswork out of choosing the best renters insurance for Memphis and other Tennessee cities.

If you're shopping for renters insurance in TN, checking out real user experiences can give you a better idea of what to expect. People discussed USAA renters insurance in a recent Reddit thread with mixed reactions. While some Reddit members pointed out that USAA's rates could be more than other choices, others applauded its first-rate customer service and quick claims system.

Some renters say researching costs before committing, while others believe USAA is worth the additional expense for dependable service. When comparing renters insurance quotes in Tennessee, renters should look into different providers and read customer reviews on coverage, pricing, and claims handling to obtain the best policy at the best price.

See more: Clearsurance’s Customers’ Choice Top Ranked Insurance Companies

Protecting Your Belongings with Renters Insurance in Tennessee

Tennessee has higher-than-average property crime rates, which means renters here face a greater risk of theft and vandalism—and that affects insurance costs. According to FBI data, there were 235,033 property crimes, including 34,789 burglaries and 181,225 cases of larceny-theft, with a property crime rate of 1,856 per 100,000 residents. Because of this, renters insurance isn't just a good idea—it's a must-have for protecting your belongings.

Crime Type	Number of Offenses	Rate per 100,000 Inhabitants
Property Crime	235,033	1,856
Burglary	34,789	275
Larceny-Theft	181,225	1,431
Motor Vehicle Theft	19,019	150

Living in a high-crime area can raise your renter's insurance rates since insurers see a higher chance of claims being filed. While renters insurance covers theft, vandalism, and malicious mischief, your insurance deductible plays a big role in what you pay out of pocket before your coverage kicks in. If you want to lower your monthly premium, choosing a higher deductible or adding security features—like burglar alarms or deadbolt locks—can help.

There are ways to keep costs down, even in high-risk areas. Installing monitored security systems, deadbolt locks, or burglar alarms can result in reductions from many insurance carriers. Renters in Tennessee can find better coverage at lower prices by shopping around and comparing renters insurance quotes, making it easier to protect their belongings without spending too much.

Understanding Renters Insurance Guide in Tennessee

Many renters don't realize what their insurance covers—or what it doesn't. Before you buy a policy, it's essential to understand your coverage limits and protections. Most renters insurance policies include liability, which is helpful if someone is wounded in your flat and you are held accountable. Plus, if your rental becomes unlivable due to fire or water damage, loss of use coverage can help pay for a place to stay while repairs are made.

Not all policies automatically cover floods or earthquakes, so checking if you need extra protection is a good idea. Some insurers may reduce your price if you have safety equipment like smoke detectors, sprinkler systems, and burglar alarms. Comparing insurance companies and combining plans might help lower premiums if you're searching for inexpensive renters insurance. Examine what is and is not included, as well as any necessary add-ons, before selecting a plan to be sure you are completely covered.

Saving money on renters insurance is great, but skimping on coverage could cost you more in the long run. A quick chat with a local insurance agent or using an online quote tool can help you find affordable coverage without sacrificing protection. If you're looking for the best renters insurance in Nashville, taking the time to evaluate policies, discounts, and coverage options can guarantee you get the proper coverage at the greatest price. For more information, consult our renters insurance guide or blog to ensure you're making the best option.