Landlord Insurance in Tennessee: Costs, Requirements & Best Providers
Landlord insurance in Tennessee costs well above the national average. The homeowners benchmark is $4,220 a year, and a landlord (DP-3) policy typically runs about $4,850 to $5,300. Tornadoes and hail drive most of that cost, while flood and earthquake need separate coverage. Get a landlord insurance quote for your address, and if the rental is a cabin in the Smokies, make sure the policy covers short-term guests.
By LandlordTested editorial teamPrices checked
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What landlords pay in Tennessee
- Homeowners benchmark
- $4,220 a yearAbout $352 a month; 69% above the $2,490 national average.
- Estimated landlord policy
- $4,850-$5,300 a yearLandlord (DP-3) cover typically runs 15-25% above homeowners cover on the same building. Your quote will differ.
- Main hazards
- Tornado, Flood, Hail, Wind, Ice storm
- Not included
- Flood and earthquakeBoth need separate policies (NFIP or private flood; earthquake endorsement or policy).
Source: NerdWallet, 2026 homeowners (HO-3) median, $400,000 dwelling cover
Landlord insurance providers in Tennessee
Both write landlord policies in all 50 states and quote online. Neither publishes prices, so the only way to know your premium is to get a quote for your address.
- 1
Steadily
Our pickSingle-family and 2-4 unit rentals, including vacant and short-term.
8.5/10 provisionalPrice
Quote-based
Pros, cons and who should skip itHide details
Good
- Covers all 50 states.
- Fast online quotes.
- Writes vacant and renovation properties too.
Watch out
- Mixed claim experiences, including wear-and-tear denials.
- Underwritten through a carrier some lenders have queried.
- Flood needs a separate policy.
Skip it if
Anyone who wants a local agent sitting across the desk.
- 2
Obie
Investors with several properties; portfolio policies available.
8.1/10 provisionalPrice
Quote-based
Pros, cons and who should skip itHide details
Good
- All 50 states plus DC.
- Portfolio (blanket) policies for several rentals.
- Covers short-term rentals and renovations.
Watch out
- Claims run through third-party administrators.
- Some reports of non-renewal after claims.
- Support is mostly email.
Skip it if
Landlords who want claims handled by the company they bought from.
Prices checked Oct 18, 2026. Scores are provisional until our account tests are done.
Want to see how Tennessee compares? We keep a table of landlord insurance rates by state, with the method behind every figure.
On this page
Tornadoes and hail drive the bill
Tennessee gets severe storms in every region. The March 2020 tornado cut through North Nashville, East Nashville and Cookeville, and spring and fall storm seasons regularly bring hail and straight-line wind to Memphis, Knoxville and Chattanooga. Those claims are why the state’s benchmark sits well above the national average.
Many Tennessee policies carry a separate wind and hail deductible, written as a percentage of the dwelling limit. On a $300,000 limit, a 2% deductible means you pay the first $6,000 of storm damage. Compare quotes at the same deductible.
Flood: Nashville 2010 and Waverly 2021
The May 2010 flood put parts of Nashville under water, and many of the damaged homes were outside mapped flood zones and had no flood insurance. In August 2021, flash flooding devastated Waverly in Humphreys County. Landlord policies exclude flood. Coverage comes through the National Flood Insurance Program or a private insurer, usually after a 30-day wait.
West Tennessee and the New Madrid zone
Memphis and the counties along the Mississippi sit in the New Madrid Seismic Zone. Earthquake damage is excluded from landlord policies. An earthquake endorsement or standalone policy adds it, with a percentage deductible that makes it protection against a major loss. Older brick buildings in Memphis carry the most risk.
East Tennessee: ice, wildfire and cabins
The 2016 Chimney Tops 2 fire destroyed homes and cabins around Gatlinburg. Ice storms in the mountains bring trees down on roofs. And a lot of East Tennessee rentals are short-term cabins, which most standard landlord policies don’t fully cover. Get a policy written for short-term rental use if you rent by the night.
What lenders require
Lenders require a landlord (dwelling) policy naming them as mortgagee, with dwelling coverage at least equal to the loan or rebuild cost. Flood insurance is required on federally backed loans in a mapped high-risk zone. Investor lenders usually require loss-of-rent coverage, and short-term rental lenders often ask for specific liability limits.
Ways to pay less
- Upgrade to impact-resistant shingles at your next roof replacement.
- Raise your deductible while keeping it below what you could pay after a spring storm.
- Trim trees over the roof, especially on mountain properties.
- Insure all your rentals with one carrier. Obie offers portfolio policies.
- Price flood outside the high-risk zones, where NFIP coverage is often modest.
Tennessee deposit rules
Tennessee sets no deposit cap (Tenn. Code Ann. § 66-28-301). The detailed rules apply in counties covered by the state’s landlord-tenant act, which are the larger counties: deposits held in a separate account, move-in and move-out inspections, and return or itemization within 30 days after you notify the tenant. Check whether your county is covered. Late fees are capped at 10% of past-due rent and can’t be charged until a 5-day grace period passes (Tenn. Code Ann. § 66-28-201(d)).
Questions landlords ask
The questions we get most, each answered in a paragraph.
How much is landlord insurance in Tennessee?
Tennessee's homeowners benchmark is $4,220 a year for $400,000 of dwelling coverage (NerdWallet 2026). Landlord policies typically run 15% to 25% higher, or about $4,850 to $5,300. A rental in Memphis, one in Nashville and a cabin near Gatlinburg each carry different risks, so the only reliable number is a quote on the property.
Do I need earthquake insurance for a rental in Memphis?
It's worth considering. West Tennessee sits in the New Madrid Seismic Zone, which produced a series of very large earthquakes in 1811 and 1812. Standard landlord policies exclude earthquake damage. An endorsement or separate policy adds it, usually with a deductible set as a percentage of the dwelling limit.
Does a regular landlord policy cover my Smoky Mountains cabin rental?
Often not, if you rent by the night. Many standard dwelling policies are written for long-term tenants and limit or exclude short-term rental use. You'll want a policy built for short-term rentals with commercial-style liability. Steadily and Obie both list short-term rental coverage. Tell the insurer exactly how you rent the cabin.