Hey there, fellow Memphians! Living in our fantastic city comes with so many perks that it's hard to narrow them down. First off, we're blessed with a rich musical heritage that infuses our daily lives, from the soulful tunes on Beale Street to the iconic Sun Studio. Secondly, our food scene is absolutely mouthwatering – we're not just about world-famous barbecue, but also a diverse culinary landscape that's constantly evolving. And let's not forget our cost of living, which is surprisingly affordable compared to other major cities, allowing us to enjoy all these amazing experiences without breaking the bank. Memphis truly offers a unique blend of southern charm, cultural significance, and modern amenities that make it an incredible place to call home!
Wondering why Memphis, Tennessee home insurance is so pricey? Here are 5 fast facts to help you understand: 1) Memphis has a higher crime rate than the national average, increasing risk for insurers. 2) The city's proximity to the Mississippi River makes it prone to flooding. 3) Tennessee experiences frequent severe weather events, including tornadoes and hailstorms. 4) Older homes in Memphis may require more expensive repairs. 5) The cost of building materials and labor has risen in recent years. Two local weather events that impacted insurance rates in the past three years were the March 2021 flooding and the December 2021 tornado outbreak. These factors contribute to higher premiums, but don't worry – there are still ways to find affordable coverage. Tennessee insurance providers offer various options to help protect your home while keeping costs manageable.
| Provider | Annual Insurance Rate |
|---|---|
| Allstate | $2077 |
| American National | $2126 |
| Auto-Owners Insurance | $2135 |
| Celina Insurance | $5420 |
| Erie | $2434 |
| Farmers | $4288 |
| Progressive | $2483 |
| Shelter Insurance | $2515 |
| State Auto | $1356 |
| State Farm | $3562 |
| Tennessee Farmers | $2636 |
| Travelers | $7321 |
| USAA | $2125 |
| Westfield Insurance | $1966 |
