Talking Tennessee House Insurance Rates

Tennessee's roots in music run deep—from B.B., Ike and Elvis in Memphis to Hank, Minnie and Ernest and Roy at the Opry in Nashville. And most Tennesseans take their music seriously whether they're fans of the blues, country, or something in between. We know shopping for Tennessee house insurance rates will never be music to your ears, but since you're here with us, we'll try to make it as pleasant sounding as possible. First, by giving you some sound (pun intended) information, and then by showing you how to save money. So let's get started.

Tennessee House Insurance Primer
According to the National Association of Insurance Commissioner's 2007 report, the average Tennessee house insurance premium was $723 which was 25th in the U.S. This was based on a policy called an HO-3, the most popular policy in the country today. This policy covers "all risks" except those specifically excluded in the policy. It typically consists of the following coverage:

• Dwelling- pays to repair or replace your house when damaged by a peril like fire or lightning. Unattached structures like sheds and garages are usually covered at 10% of the dwelling amount.
• Personal Property (PP)- pays to repair or replace personal belongings when theft or natural acts are involved. Usually insured for 50% of dwelling coverage amount. Personal property off-premises are usually covered for 10% of dwelling amount.
• Personal Liability- coverage from $100,000 up to $1 million covers you, your family member or a pet (some exclusions) in the event either one is found legally responsible for someone else's injury on or off your property.
• Medical Payments- coverage from $500 to $5,000 pays for medical bills of persons injured on your property.
• Loss of Use or Additional Living Expense (ALE)- pays additional living expenses in the event your house is unlivable due to a peril such as fire.

Flood Policies Are Separate Policies
Flooding in Tennessee can be a serious hazard—just look at the May 2010 flooding of Nashville when powerful thunderstorms pushed the Cumberland River 12 feet over flood stage. Many homeowners mistakenly believe their standard policy covers floods. Tennesseans, particularly those living near bodies of water, should consider a separate flood policy. Tennessee currently has 38 insurance companies writing flood polices. Ask an agent about your house's risk. Policy rates are based on risk and amount of coverage.

Saving on Tennessee House Insurance Rates
As of 2009, there were 150 insurance companies writing policies in Tennessee. Most companies offer their clients discounts which can significantly lower your Tennessee house insurance rates. Here's a list of potential discounts:

• House protective devices like dead-bolt locks, smoke detectors, fire extinguishers, automatic sprinklers, burglar/fire alarms, and new plumbing/wiring.
• New house discounts. The newer the house the lower the risk.
• Multi-line (house, auto, life)
• Senior (55+)
• Non-smoker
• Paying in advance vs. making monthly or bi-monthly payments.
• Payroll deduct payments
• Military

Because there are so many companies doing business, competition abounds. That's why it's important to comparison shop with a company like LocalInsurance. LocalInsurance will search the web for the best Tennessee house insurance rates for you, providing comparisons from a number of agents in your area. It's free and easy and could save you hundreds. Let's get shopping.

• Focus on Homeowners' Insurance