The Best Renters Insurance in Knoxville, TN

All of them should provide coverage for renters insurance, and almost all of them are rental properties. Rentals make up 54% of the occupied housing units in the city, and Knoxville is a place where many people choose to rent. Additionally, Knoxville is home to a renowned university located on the Tennessee River, making it a picturesque and historically significant city.

There are countless reasons why Knoxville residents should learn about renters insurance and consider its affordability rate. If you live in Knoxville, you should consider renters insurance for the protection it provides to your personal belongings, especially from damage caused by break-ins and weather-related incidents.

Insurance Company

Monthly Cost – $500 Deductible

Monthly Cost – $1,000 Deductible

State Farm

N/A ‡

$12.25

Allstate

$28.00

$26.00

Travelers

$38.00

$34.00

Stillwater

$22.83

$20.50

Lemonade†

N/A

N/A

‡ $500 deductible choice not accessible.

We could not find similar policies with comparable coverage amounts for a 30-year-old male renter in Knoxville. We obtained online renters insurance quotes from five of the most popular insurance companies: Stillwater, Travelers, Allstate, Lemonade, and Farm State.

Lemonade is currently unavailable in Knoxville.

Reasons to buy renters insurance in Knoxville

It is impractical not to have renters insurance, considering that most of your valuable and costly personal possessions are located in your home or storage unit. Renters insurance is one of the most cost-effective types of insurance to purchase.

Knoxville, like most cities, has seen a decrease in the burglary rate and property crime rate over the last decade, while the rate of burglary and property crime has mostly decreased. Insurance for renters is a nice way to safeguard against the high potential for break-ins and theft in urban areas. Additionally, the city’s burglary rate is more than twice the national average per capita, making insurance even more important.

knoxville-best-renters

During the wet season from August to March, the residents of Knoxville, especially those in the western parts of the region, still experience a fair amount of thunderstorms, although tornadoes are not as common. The unpredictability of the weather is another reason why residents of Knoxville consider renters insurance.

Keep in mind that renters insurance will cover personal belongings impacted by hail or wind, but it won’t cover flooding, which is a common hazard in Knoxville due to the nearby Tennessee River.

Is renters insurance legally required in Knoxville?

Currently, in Tennessee or Knoxville, there is no law requiring renters to purchase insurance as a condition of signing a lease with management companies and landlords.

Understanding renters insurance quotes

Renters insurance not only relieves you of the financial responsibility in case of accidental injuries to someone in your home, requiring legal or medical expenses, but it also provides protection for your personal belongings in the event of damage or theft.

If you are forced to move out of your apartment due to unfortunate events such as water or fire damage, renters insurance provides you with additional expenses to cope with. Instead of eating out, you may be forced to cook at home since renters insurance may cut you a check for $500. If the need arises, you may also use Loss to supply funds for additional mileage and hotel expenses.

Here’s a summary of the elements you should search for in a policy while comparing quotes for renters insurance.

  • Property coverage: compensation for misplaced, pilfered, or impaired belongings.

  • Liability insurance: offers monetary safeguard for legal expenses if someone is harmed in your residence and initiates legal action against you.

  • Loss of utilization: includes provisional living costs in the event that your dwelling becomes unlivable.

  • Medical payments for others: includes medical expenses if someone gets injured while at your home and needs medical care.

  • We have a comprehensive explanation of the coverage provided by renters insurance available here.

    Helpful resources

    Knoxville residents seeking additional information on tenants’ rights and available support should refer to the following resources:

  • Fair Housing Knoxville is a program by the City of Knoxville that aims to establish suitable and appropriate living conditions for residents.

  • Knoxville Insurance Group: A local source for renters insurance for residents of Knoxville.

  • Knox Housing Partnership, situated in Knoxville, is a non-profit entity dedicated to providing cost-effective and eco-friendly housing choices, with the goal of improving Knoxville’s communities.

  • The Knoxville-based non-profit organization, Committee Action Community County Knoxville, helps low-income residents in the community with financial assistance for housing opportunities by providing rental payments.

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