The security of your belongings in your rental apartment or house is always top of mind. Renters insurance protects you from financial loss; however, choosing a policy can be complicated. ConsumerAffairs researched the best renters insurance in Nashville to help you find affordable coverage from a reliable provider.
With about 100 people moving to the city daily, Nashville is a hot destination projected to have 1,904,300 metropolitan area residents by 2025. Thanks to this growth, the city is adding apartment buildings regularly.
If you’re a renter in Nashville, you should consider renters insurance. While your landlord’s insurance policy covers damage to the apartment building itself, your possessions are not included in their policy. As a result, it is in your best interest to obtain an insurance policy for your personal belongings. In the case of a covered event, such as fire or theft, a renters insurance policy pays for the replacement or actual cash value of your items.
Commonly covered situations:
Personal property loss in cases of fire or theft
Liability if you’re responsible for other people’s injuries or damage to their property
Additional living expenses such as hotel rooms and increased food expenses if you’re displaced
With Nashville’s history of tornadoes, protecting your personal items against damage is a key element of renting a property. Keep in mind, while renters insurance covers many forms of damage, it does not offer coverage for things like bedbug or rodent infestations and flooding, which affects areas near the Cumberland River.
Apartment communities in Nashville may also require that tenants obtain and show proof of renters insurance.
What does renters insurance cover in Nashville?
Renters insurance covers a variety of personal belongings, including:
Computers and electronics
In addition, renters insurance in Nashville also provides liability coverage. Liability coverage protects you if you cause damage to another individual’s property or if someone is injured while in your home.
Renters insurance is especially important for those who may not have accrued a great deal of cash or assets, such as college students and young professionals.
How much does renters insurance in Nashville cost?
The price of renters insurance in Nashville averages $17 a month. The exact premium you pay depends on several factors:
Actual cash value (the depreciated value of the item) vs. replacement (your cost to buy a new version)
When choosing renters insurance in Nashville, select coverage limits according to your needs. Most renters get contents coverage from $20,000 - $40,000 and liability coverage of at least $100,000. Keep in mind that expensive valuables such as art and jewelry may require additional coverage.
Don’t forget to ask about available discounts. Renters insurance companies in Nashville often provide discounts for bundling, having smoke detectors, paying through automatic withdrawal or being claims-free.
Policygenius, an independent, online insurance broker, makes insurance shopping and buying simple, understandable and pleasant. Compare renters insurance policies in Nashville side by side and get assistance from experienced advisors. Online reviews from Nashville are positive, citing an easy platform and friendly customer service.
After building a personal profile, customers can use EverQuote to receive and compare renters insurance quotes from licensed agents in the Nashville area. The company also offers resources and articles to help customers determine what coverages they need. Nashville reviewers appreciate the number of policy options, but some mention excessive calls from agents.