Whether you’re managing student rentals in Knoxville, vacation homes in Gatlinburg, or long-term units in Nashville—owning rental property in Tennessee comes with risk.
Landlord insurance in Tennessee covers the stuff that actually matters: property damage, legal liability, and rental income loss. Here’s what you need to know to protect your investment.
Why Landlord Insurance in Tennessee Is Non-Negotiable
Regular homeowners insurance won’t cut it. If you’re renting to tenants, you need landlord insurance. It covers the risks landlords actually deal with, like damage from tenants, lawsuits, and natural disasters.
In Tennessee, tornadoes, severe storms, and water damage are common. Pair that with high tenant turnover in places like Memphis and Chattanooga, and the right policy becomes crucial.
What Does Landlord Insurance Cover in TN?
Property Damage
Covers your rental structure against damage from fire, lightning, storms, hail, theft, and vandalism.
Liability Coverage
If a tenant or guest gets injured on your property, this covers your legal costs, medical payments, and settlements.
Loss of Rental Income
If a storm or fire forces your tenant out, this replaces the rent you’d normally collect during repairs.
Optional Add-Ons
- Flood insurance (especially important in low-lying or riverfront areas)
- Short-term rental coverage — compare short vs long-term
- Equipment breakdown for HVAC and water systems
- Umbrella coverage for extended liability protection
How Much Does Landlord Insurance Cost in Tennessee?
Expect to pay between $850 and $1,800 per year depending on:
- Property location (Nashville and Memphis usually run higher)
- Building size, age, and condition
- Rental type (short-term rentals cost more)
- Your deductible and coverage limits
You can lower your premium by bundling policies, maintaining the home, and increasing your deductible.
Who Offers the Best Landlord Insurance in TN?
We recommend Steadily. It’s made specifically for landlords—simple quotes, flexible coverage, and support when you need it.
- Fast online quotes with clear terms
- Covers properties owned individually or in an LLC
- Great fit for both short- and long-term rental properties
- Competitive pricing—even in storm-prone zones
Common Claims in Tennessee
Storm Damage
Tennessee gets its fair share of strong winds, heavy rain, and hail. Roof and siding claims are common statewide.
Water Damage
Burst pipes, plumbing leaks, and sewer backups are top claims—especially in older homes or college town rentals.
Liability Lawsuits
From slip-and-falls to guest injuries, liability protection can save you thousands in legal fees.
How to Lower Your Landlord Insurance Premium
- Bundle policies (home, auto, umbrella)
- Keep the property in good shape to avoid preventable claims
- Install water sensors, smoke detectors, and security systems
- Require tenants to carry renters insurance
- Choose a higher deductible if your cash flow allows
FAQ: Landlord Insurance in Tennessee
Is landlord insurance legally required in TN?
No—but if you have a mortgage, your lender will likely require it. Either way, it’s not worth the risk to skip it.
Does landlord insurance cover floods?
No. You need a separate flood policy, especially in areas near rivers or flood zones.
What about my tenant’s belongings?
Your policy only covers your structure. Tenants should have their own renters insurance to cover personal property.
Final Thoughts
Don’t leave your investment exposed. From storm damage in Nashville to liability claims in Knoxville, landlord insurance in Tennessee keeps your rental protected—and your income stable.
Want to avoid gaps in coverage? Read up on common mistakes and choose a policy that actually works.
Our advise is based on experience in the mortgage industry and we are dedicated to helping you achieve your goal of owning a home. We may receive compensation from partner banks when you view mortgage rates listed on our website.
