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

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

USAA provides exclusive benefits for military families, including replacement cost coverage and flood protection. American Family lets you customize policies with great add-ons, while Geico stands out with bundling discounts and flexible options.

Insurance Company	Rank	$100k Policy	A.M. Best	Best For	Jump to Pros/Cons
	#1	$14	A++	Exclusive Membership	USAA
	#2	$15	A	Loyal Customers	American Family
	#3	$16	A++	Low Rates	Geico
	#4	$17	A++	Extensive Discounts	State Farm
	#5	$18	A	Competitive Bundling	Farmers
	#6	$20	A+	Digital Efficiency	Progressive
	#7	$24	A+	Local Agents	Allstate
	#8	$25	A+	Multi-Policy Savings	Nationwide
	#9	$28	A++	Digital Efficiency	Travelers
	#10	$29	A	Flexible Plans	Liberty Mutual

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
• Customize your policy with add-ons from American Family or bundle with Geico for discounts

#1 – USAA: Top Overall Pick

Pros

• Lowest Renters Insurance Rates in Tennessee: USAA offers $14 per month premiums, $1 cheaper than American Family and $2 lower than Geico. 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.
• Superior Financial Strength: Holds an A++ rating from A.M. Best, the highest possible score, ensuring fast and reliable claims processing.

Cons

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

#2 – 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 per month premium.
• Identity Theft and Fraud Coverage Standard: Unlike most competitors, identity fraud protection is included for free rather than an expensive add-on.
• Solid Financial Strength: Backed by A.M. Best’s A rating, American Family has a strong reputation for reliable payouts. See more details on our American Family insurance review .

Cons

• Limited Availability Outside Key Tennessee Markets: American Family has fewer locations compared to State Farm or Allstate, which could be inconvenient for renters in rural areas.
• 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.

#3 – Geico: Best for Low Rates

Pros

• Competitive Rates for Tennessee Renters: At $16 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.

#4 – 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.
• Superior Financial Strength: Holds an A++ rating from A.M. Best, ensuring strong claims reliability for renters. Check out insurance savings in our complete State Farm insurance review.

Cons

• Limited Coverage Customization: State Farm’s renter's insurance lacks specialty add-ons like pet damage protection or home-based business coverage, which some competitors provide.
• No Identity Theft Protection Add-On: Unlike American Family or Farmers, it does not offer identity fraud coverage as a policy endorsement.

#5 – 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.

#6 – 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 $20 per month, it’s $6 more than USAA and $4 more than Geico, 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.

#7 – 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 $24 per month premium, 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.

#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 $25 per month premium.
• 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 $25 per month rate, 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 – Travelers: Best for Digital Efficiency

Pros

• Tech-Savvy Claims and Policy Management: The Travelers mobile app allows renters to file claims, check policy details, and chat with agents 24/7, making it one of the most digital-friendly insurers in Tennessee.
• 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: One of the most expensive policies, costing $14 more than USAA and $12 more than Geico. 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.

#10 – 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

• Most Expensive Renters Insurance in Tennessee: With a $29 per month base premium, it costs $15 more than USAA and $13 more than Geico, making it the priciest option.
• 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.

Comparing Renters Insurance Rates for Tennessee Policies

Tennessee renters insurance rates vary according to policy limits, creditworthiness, and available discounts. USAA offers the cheapest renters insurance for military families because it has the lowest rates, with $100K coverage at $14 per month and $300K coverage at $25 per month.

Insurance Company	$100K Policy	$300K Policy
	$24	$32
	$15	$28
	$18	$30
	$16	$29
	$29	$35
	$25	$31
	$20	$33
	$17	$27
	$28	$34
	$14	$25

American Family charges $15 per month for $100K and $28 per month for $300K, providing an economical option with policy customization. Geico follows closely at $16 per month for $100K and $29 monthly for $300K, offering bundling discounts for renters with auto policies. State Farm balances affordability and strong claims satisfaction at $17 per month for $100K and $27 per month for $300K.

Liberty Mutual has the most expensive rates, reaching $29 per month for $100K and $35 per month for $300K, making it less appealing for cost-conscious renters. Farmers and Progressive increase premiums for higher coverage, with $300K policies costing $30 and $33 per month, respectively. Renters should compare A.M. Best ratings, claim payout reliability, and bundling options to secure comprehensive protection at the best price.

Unlocking the Best Renters Insurance Discounts in Tennessee

Tennessee renters can lower their renter's insurance costs by up to 29% by leveraging bundling, claims-free history, security system installations, and loyalty discounts. State Farm provides the highest bundling discount at 20%, making it the best choice for renters combining auto, renters, or homeowners insurance under one provider. 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 offers a 12% loyalty discount, and USAA provides 11% savings, making them great options for long-term renters and military families. Progressive and Nationwide deliver competitive savings, with Progressive offering 16% off for security system users and Nationwide providing an 18% discount for renters with a clean claims record.

Tennessee renters should compare providers based on financial strength, claims processing efficiency, and total discount opportunities to secure the cheapest renters insurance while ensuring adequate coverage for their personal property and liability protection. For more insights and ways to save, explore popular renters insurance posts that highlight additional cost-saving strategies and provider comparisons.

Essential Renters Insurance Coverages for Tennessee Residents

In the event that a covered loss makes a rental uninhabitable, renters insurance provides essential financial protection by covering liabilities, personal items, and additional living expenses. Loss of use coverage ensures renters receive compensation for temporary housing and living costs, while medical payments coverage helps pay for guest injuries regardless of fault.

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

Most policies also include replacement cost coverage, reimburses renters for damaged or stolen belongings at full value instead of depreciated amounts. However, additional protections like flood and earthquake coverage vary by provider, requiring renters to carefully compare options.

Renters in high-risk areas for natural disasters may need to consider add-ons like flood or earthquake coverage. USAA and Travelers provide the most comprehensive coverage, offering both flood and earthquake protection, while State Farm, Geico, and Liberty Mutual include earthquake protection but exclude flood coverage. Farmers and Nationwide do not offer flood or earthquake coverage, limiting their appeal to renters in disaster-prone areas.

Additionally, only a few companies, like Allstate, American Family, and Progressive, offer gap insurance, which fills in gaps in policy limits. To ensure their policy provides affordability and long-term security, Tennessee renters should assess which coverages best suit their needs in terms of location and budget.

Key Factors That Impact Renters Insurance Costs in Tennessee

Rent costs in Nashville and Memphis vary based on location, apartment size, and amenities, all of which impact renters insurance rates. Higher-cost areas or apartments with more amenities and security features may lead to lower premiums, while areas with higher crime rates or older buildings could result in higher insurance costs. Regardless of rent prices, having renters insurance in Memphis, 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

Renters insurance is already affordable, but that doesn’t mean you should pay more than necessary. Here are five smart ways to lower your premium and keep more money in your pocket.

• 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 costs and working with an agent will help one find the best coverage at the least expense.

Transparency in Renters Insurance Ratings and Rankings

Clearsurance keeps things transparent and straightforward when ranking renters insurance companies, relying entirely on real 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 looks at 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 makes it easier for renters in Tennessee to find the best insurance options without the guesswork.

If you're shopping for renters insurance, checking out real user experiences can help you get a better idea of what to expect. In a recent Reddit discussion, people shared their thoughts on USAA renters insurance, with some praising it and others pointing out potential downsides.

This Reddit thread shows that USAA is well-known for its top-notch customer service, but some renters find it pricier than other options. While some people say it's worth the extra cost for fast claims and reliable support, others suggest shopping around to compare prices. If you're considering USAA, Reddit users recommend weighing the higher cost against the benefits to see if it's the right fit for you.

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

The Importance of Renters Insurance in High-Crime Areas

Tennessee has higher-than-average property crime rates, making renters insurance a smart way to protect your stuff. According to FBI data, the state saw 235,033 property crimes, including 34,789 burglaries, 181,225 cases of larceny theft, and 19,019 stolen vehicles. With a property crime rate of 1,856 per 100,000 people, renters in Tennessee face a higher risk of theft and vandalism.

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

Having coverage can help you avoid paying out of pocket for stolen or damaged property, as standard renters insurance includes theft, vandalism, and malicious mischief. Your insurance deductible, however, should be taken into account because it is the sum that you must pay before your policy begins to operate.

To make staying safe even simpler, several insurance companies also provide discounts for installing security devices like burglar alarms. If you're renting in Tennessee, it's a good idea to get a renters insurance quote to compare coverage options, deductibles, and potential savings so you can choose the best protection for your needs.

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. Your premium may be lowered by some insurers' reductions for safety equipment like burglar alarms, sprinkler systems, and smoke detectors. If you're looking for cheap renters insurance, comparing providers and bundling policies can also reduce costs. Before choosing a plan, review what's covered, what's not, and any add-ons you might need to ensure you're fully protected.

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 need more tips, check out our renters insurance guide or blog to make sure you're getting the right coverage for your needs.