(800) 253-1482Tennessee Condo Insurance
Summary: Owning a condo or townhouse in Tennessee means you need condo insurance (HO6) to protect your personal belongings and the interior of your unit. While your HOA’s master policy covers common areas, you’ll need extra coverage for your space. Tennessee condo insurance provides comprehensive protection, including liability and loss-of-use coverage, at an affordable price. Discover how these policies can safeguard your condo and finances, and get a free quote to explore your options today! Estimated Read Time: 4 mins
Your protection needs are different if you live in a condo or townhouse than those of a traditional homeowner. Tennessee condo insurance is often more affordable than homeowners coverage, offering the protection you need at a great price. Learn how these policies are customized for your needs and get a free quote today.
What Is Tennessee Condo Insurance?
If you own a condo or townhome in Tennessee, the right insurance—known as HO6 insurance—is a must. Unlike homeowners insurance, condo insurance coverage is designed specifically for condo owners, covering your personal belongings and the interior of your unit, including cabinets, flooring, and countertops. Without it, unexpected disasters could leave you with major out-of-pocket costs.
Your condo association likely has a master policy, but that only covers common areas and shared spaces—not the inside of your unit. That’s where condo insurance comes in, providing coverage for personal property, liability, and even temporary housing if you’re displaced due to a covered loss.
For many, condo insurance is required by lenders or HOAs, but even if it’s not mandatory, it’s a smart way to protect yourself from financial setbacks. Whether you own or rent, having the right coverage can safeguard you against theft, damage, or liability claims.
How Much Is Condo Insurance in Tennessee?
The cost of condo insurance in Tennessee depends on factors like location, coverage amount, the condo association’s master policy, building age, deductible, and credit history.
Condo insurance rates increase when the property is riskier to insure, and since each insurer calculates rates differently, comparing multiple quotes is essential to avoid overpaying.
On average, condo insurance costs a few hundred dollars per year in TN, but shopping around and using discounts can help lower your rate. Whether you're a new owner or looking to save, it's worth the effort to find the best deal.
Compare Condo Insurance Quotes in Tennessee
Need a condo insurance quote? Whether you’re in Nashville, Memphis, Chattanooga, or anywhere in Tennessee, our agents help homeowners save. On average, our customers save 40% when they switch!
Call the number above or fill out the form below to compare top-rated carriers near you:
To maximize savings and coverage, residents of the Volunteer State can’t just compare quotes. It’s also important to shop and compare bundles for your condo and auto insurance to receive the best protection at the lowest price.
Tennessee Condo Insurance Coverages Explained
Condominium insurance isn’t just one protection but is compiled of many different coverages working to protect you from perils better. Below is a breakdown of how these coverages help owners safeguard themselves from large financial burdens:
Dwelling Coverage
Dwelling coverage for your condo protects everything from the drywall inward. When choosing condo insurance, it’s important to focus on having enough coverage to fully rebuild your unit, rather than basing it on the price you paid for the condo.
Personal Property Coverage
The insurance for your condo protects more than its physical structure. Your personal property is also protected from perils; however, just remember there are policy limits and exclusions that apply.
Liability Coverage
If someone visits your home and is injured while there or if you or a member of your household accidentally causes harm to someone else’s property, your liability coverage acts like a safety net so that you don’t have to restore their loss out of pocket.
Loss-Of-Use Coverage
When losses are so extreme that your home is no longer livable, you’re going to need to cover your food and lodging expenses while you await repairs.
Fortunately, loss-of-use coverage is the portion of your condo insurance reserved for this purpose.
Just remember, while you are covered, limits apply, and while grabbing a sub or a pizza is likely fine, spending on lavish meals or luxury hotels won’t be covered.
Condo Association Insurance/Condo Homeowners Insurance
Your condo’s HOA has a master insurance policy that covers shared spaces like pools, elevators, and common areas, paid for through your association fees. But it doesn’t cover everything, so knowing your policy type matters. There are three main types:
- All-In Coverage: Covers your unit’s structure and fixtures (not belongings).
- Bare Walls Coverage: Covers shared areas but not your unit’s interior.
- Single Entity Coverage: Covers shared spaces and original fixtures but excludes upgrades.
Since HOA insurance won’t cover your personal property, condo homeowners insurance policies fill that gap, leaving you with fewer things to worry about.
Loss Assessment Coverage
If an accident happens in a shared area, your HOA insurance covers it, but if damages exceed the policy limits, condo owners may have to split the extra cost. Loss assessment coverage helps cover these unexpected expenses, with owners choosing their coverage limits based on risk tolerance.
How Much Condo Insurance Do I Need in Tennessee?
Owning a condo in Tennessee comes with risks, and an HO6 policy helps protect your investment. Like a homeowners insurance policy, it covers fire, theft, wind damage, and water overflow—plus damage from vehicles, falling objects, and power surges.
However, it won’t cover flooding, earthquakes, pests, wear and tear, or utility line damage, but you can add endorsements for extra protection.
Knowing what your policy covers ensures you’re protected. Talk to an insurance pro to customize your condo insurance policy for peace of mind.
