Lenoir City, TN Homeowners Insurance Rate Quotes!
You can get affordable home insurance rates in Lenoir City thanks to GetHomeInsuranceQuotes.com! It is easy to use our online quoting application to compare up to 12 major insurance companies that are now offering competitive rates in Lenoir City. Homeowners often ask how their current rate compares to average home insurance rates locally. Homeowners of Lenoir City, TN are currently paying around $923.00 per year for home insurance coverage for a typical single-family home, where the majority of the homeowners throughout the country pay around $1311. Great home insurance coverage only cost around $77.00 per month. It's important to know that these average homeowners insurance rates reflect the cost of a standard home insurance policy which includes the replacement cost of your home, loss of use, your contents, medial payments and liability coverage. For homes in flood zone areas, your mortgage provider will require you to purchase a flood insurance policy with is seperate from your home insurance policy. We can package the two policies together to help you get the coverage you need.
Using the rating system below, you can easily get home insurance quotes by first entering your zip code for the home you would like to insure. If it's a new home purchase, make sure you select "New Home" in the discounts section. If you are unsure of any of the basic property details of the home, we have an online chat service to help walk you through our online quoting application. We look forward to help you compare the best rates and coverages, let's get started!
| Avg. TN Rate | Discounts | Savings | Shop Rates |
|---|---|---|---|
| $1296 | up to 40% off | $518 |
The best Lenoir City homeowners insurance coverage includes an affordable rate with outstanding coverage. At GetHomeInsuranceQuotes.com, our TN licensed agents can provide up to 12 home insurance estimates for you to review. And our free consulting service allows us to answer any questions that you may have about which policy is best for your family and home.
Information on Lenoir City
The city of Lenoir City is around 8,642 residents in population size with 3369 homes currently occupied within the city of Lenoir City. The average family household in Lenoir City is 2183.
| Demographic | Values |
|---|---|
| Population | 8,642 |
| Total Occupied Households | 3369 |
| Family Households (families) | 2183 |
| Average Owner Occupied Household Size | 2.60 |
| Average Family Size | 3.16 |
| Total Housing Units | 3703 |
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Average Rates Nearby Lenoir City
Are you looking for homeowners insurance in a city near Lenoir City? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
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Home Insurance Rates by Zipcode in Lenoir City, TN
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Lenoir City.
Lenoir City, TN Home Insurance Average Premiums
$673 /yr.
For the city of Lenoir City, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $673 /yr. |
| Average Coverage: | $923 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1223 /yr. |
What is the average home insurance cost for a home in Lenoir City, TN?
- • The average homeowners insurance premium paid annually for a home in Lenoir City is around $923 per year.
What does it cost on average per month for home insurance in Lenoir City, TN?
- • Homeowners in Lenoir City pay an average cost per month around $77.00 for insurance coverage.
Lenoir City, TN - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $334,382 | $302,369 |
| February | $336,685 | $308,669 |
| March | $340,369 | $314,924 |
| April | $341,547 | $320,888 |
Homeowners insurance will help cover the cost to repair or replace your Lenoir City home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Lenoir City
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Get up to 12 competitive Lenoir City, TN homeowners insurance rates all in one place! |
Saving Money Tips on Lenoir City Home Insurance
A great way to save money on Lenoir City homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Lenoir City area? Check out what homeowners are paying on average for Tennessee homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 861 ft. | This is the average home elevation in Lenoir City, TN | Did you know that the elevation in which your home resides is crucial to a home insurance policy because it determines the risk factor related to your home being in a flood zone. It is important to understand that your home is not covered for floods under a standard homeowners policy. You will need to speak with a local Tennessee flood insurance agent about a flood insurance policy, please give us a call now at 888-620-1954. |
To get online quotes on your home and compare rates on home insurance premiums in Lenoir City, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Loudon County.
Tennessee Homeowners Insurance News & Information
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Texas is Seeing Major Increases in the Cost of Homeowners Insurance Posted on Tuesday 7th May, 2024
Like much of the rest of the country, Texas is seeing major increases in the cost of homeowners insurance. According to an article in Austin American-Stateman, residents of Texas have seen their insurance rates go up 50.9% on average which is the largest increase in the country for that time period. Unfortunately, experts are predicting […]
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Homeowners Below a 580 Credit Score Pay 35% More for Home Insurance Posted on Monday 15th April, 2024
While the odds of a major disaster hitting a specific home is the same regardless of whether the owner has a great credit score or one that puts them in a subprime category, their credit score will impact their rate in many states. In most states, insurers are allowed to consider credit scores when setting […]
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The Best Way to Check the Financial Strength of Home Insurance Companies Posted on Wednesday 3rd April, 2024
If you are switching insurance companies, you should always check the financial strength of any insurer you are seriously considering. While an affordable premium is always a plus, if your insurance company cannot afford to pay when you file a claim, the savings will certainly not be worth it. A.M. Best is a credit rating […]
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Florida’s Broward Commissioner is Asking Congress to Lower Insurance Rates Posted on Monday 1st April, 2024
A bill in the U.S. House called the Natural Disaster Reinsurance Plan, hopes to lower insurance costs for policyholders in states that opt-in to the program which will scale back the requirements regarding the amount of reinsurance that insurance companies need to purchase. Currently, a Broward commissioner is asking Congress to pass legislation he claims […]
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North Carolina Coastal Home Insurance Rates Posted on Friday 29th March, 2024
North Carolina is a fantastic place to live with plenty of cultural activities, beautiful beaches, world-class cities as well as great restaurants and shopping. The only disadvantage to living in North Carolina, particularly if your home is located in coastal area is the cost of homeowners insurance. The average premium for a standard homeowners insurance […]
Lenoir City, TN Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Lenoir City so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Lenoir City, TN?
- The average square footage in Lenoir City is around 1,539 Sq. Ft. which would cost you around $207,750 to replace the home if you base the home on the price to build per square foot of $135.
Minimum Replacement Cost Total: $207,750
Location: Lenoir City, Tennessee (Loudon County)
Average Building Cost Per Square Foot in Lenoir City: $135 (low end)
Average Square Footage in Lenoir City: 1,539 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $135 | $207,750 |
| Some Additional Upgrades | $169 | $259,688 |
| Major Home Updates or Advancements | $203 | $311,625 |
The dwelling coverage is calculated by the average cost per square foot ($135) in Lenoir City, Tennessee times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $421,875 (Media price to build of $169 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.