Landlord insurance in Memphis, TN
Landlord insurance in Memphis keeps your rental protected when things go wrong. It pays to repair the building, defends you against liability claims, and replaces lost rent, so a covered loss doesn't also cost you months of income.
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I had a quote within half an hour and then connected them with my mortgage lender for closing via email. Very easy to work with.
Eric Martin The process of getting a landlord policy was very smooth. A few text messages, and the price was great, new policy saved us over $600!
Arnold Chambers Best coverage option for small landlord. Very impressed by easy to navigate website and competitive coverage. Couldn't ask for better.
Robert Unterberger
Secure your assets in Memphis's crowded rental scene
In Memphis, Tennessee, landlord insurance is key to protecting your rental properties in this culturally rich and city. Steadily offers fast and affordable policies to fit the needs of Memphis landlords. With the city's position along the Mississippi River, landlords must be prepared for potential wind and hail storms that can cause property damage. Memphis's rental market is diverse and busy, making it crucial for property owners to secure the right coverage to protect their investments.
Memphis is home to prominent neighborhoods like Midtown and Cooper-Young, as well as large employers such as FedEx and St. Jude Children's Research Hospital, attracting a steady flow of renters. As a landlord in Memphis, you need coverage that addresses property damage, liability issues, and lost rent. Steadily's landlord insurance provides:
- Protection against wind and hail damage
- Liability coverage for tenant injuries
- Security for lost rental income
Ensure your rental properties remain profitable and protected in this city.
Who needs landlord insurance in Memphis TN?
Landlord insurance is a policy for people who rent their homes to others. It is NOT homeowners insurance, and should not be used to cover your primary residence.
You may need landlord insurance if you:
- Turned a former residence into a rental property with active tenants
- Have a portfolio of income-generating properties
- Manage an Airbnb or VRBO (you may need a short-term rental policy)
- Have a tenant living in an ADU or detached home on your property
Properties we look after
Not sure if your property is covered?
Contact usInside the Memphis rental market
About 137,500 Memphis households rent rather than own, roughly 54 percent of the city, at a median gross rent near $1,123 and around $1,073 for a two bedroom. Whatever the repair costs, the rent you stop collecting during it is a separate loss, and it is the one a homeowners policy will never pay.
Memphis's individual-landlord pool runs to roughly 81,300 homes: about 61,900 single-family rentals and around 19,300 units in small two-to-four-unit buildings. Supply sits near 5.4 months, a reasonably balanced market by recent standards.
Two exposures shape pricing here: hail and straight-line wind, and flooding, which no standard landlord policy covers. On the legal side, There is no deposit clock in this state, so what the law wants instead is a written itemization of any damages you are charging for, and notice to the tenant of any refund owed, and if the tenant does not respond within sixty days of that notice you may keep the deposit free of their claim. Tennessee has no rent cap.
What does coverage cost for a Memphis rental?
Landlord coverage typically prices above a comparable homeowners policy in the same market. The gap exists because the policy takes on rental income and owner liability that a homeowners form excludes. None of that is a quoted price. It is a summary of publicly reported averages and nothing more.
The local anchor is reconstruction cost. Memphis homes sell around $187,276 at the median, useful only as a rough sense of scale, since rebuilding a property and buying one are different numbers. In this market the biggest single swing factor is storm and flood exposure alongside the age of the property. Dozens of inputs matter, among them the size and construction of the building, the state of the roof, how old the property is, past claims, the deductible, and the limits you carry. Anything short of quoting the address is guesswork.
Landlord insurance coverages in Memphis TN
We cover a wide range of risks, or you can choose a limited set of coverages for a lower premium
Frequently asked questions
What does a landlord policy cover, and what does it leave out?
It pays for damage to the building, defends you if a tenant or visitor is hurt and holds you responsible, and replaces rent while a covered claim keeps the place empty. It does not touch the tenant's furniture, and it does not cover flood.
Two Memphis houses on the same street can quote differently. Why?
Almost none of it is about the neighborhood. In this market storm and flood exposure plus the age of the property moves a quote more than anything else, followed by how the building is constructed, square footage, what has been claimed on it before, the deductible you accept and the age and condition of the roof. A property that has been updated prices very differently from one that has not.
Can I just keep my homeowners policy on a Tennessee rental?
No state law in Tennessee makes it mandatory, but your lender almost certainly will, and a homeowners policy is not a substitute. Homeowners coverage is underwritten for a house you live in, so once tenants move in the insurer has grounds to deny a claim. A landlord policy also adds two things yours does not carry: lost rent, and liability tied to renting the property out.
Which insurer should a Memphis landlord use?
The useful question is not which brand, it is whether the policy was built for rental property or is a homeowners form stretched to cover one. Those behave very differently at claim time, particularly on loss of rent. Steadily specializes in landlord policies and can quote a Tennessee rental online. Compare what pays out before you compare what it costs.
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