Duke Insurance Solutions
324 Poplar View Parkway, Collierville, TN 38017
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Collierville households and business owners trust local agents to navigate carrier appetite shifts, underwriting requirements, and the claims process.
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324 Poplar View Parkway, Collierville, TN 38017
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364 New Byhalia Rd, Ste 5, Collierville, TN 38017
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201 S Center St, Ste 210, Collierville, TN 38017
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Learn about insurance coverage options specific to Collierville residents.
Collierville home insurance averages $3,000-$4,500/year. Learn about tornado coverage, wind deductibles, and how to protect high-value homes in Shelby County.
Car InsuranceComplete guide to auto insurance in Collierville, Tennessee. Learn about TN's 25/50/25 requirements, how to get lower rates in this Memphis suburb, and coverage you need.
General Insurance EducationComplete insurance guide for Collierville, Tennessee. Learn about home, auto, and umbrella coverage for this affluent Memphis suburb with weather risks.
Home insurance in Shelby County, where Collierville is located, typically ranges from $3,000 to $4,500 annually depending on your specific ZIP code, home value, and coverage limits. This is notably higher than Tennessee's state average of around $3,045 per year due to tornado risk and higher property values in the area. Your actual premium will depend on factors like your home's age, claims history, credit score, and the specific coverage and deductibles you choose.
Yes, standard homeowners insurance policies cover tornado damage under wind and hail provisions. However, many Tennessee policies include percentage-based wind and hail deductibles rather than flat amounts. This means if you have $500,000 in dwelling coverage with a 2% wind deductible, you'll pay the first $10,000 of damage yourself before insurance coverage applies. Make sure you understand both your standard deductible and your wind/hail deductible when reviewing your policy.
Market value is what you could sell your home for today—in Collierville, that median is around $540,000. Replacement cost is what it would actually cost to rebuild your home from scratch after a total loss, which includes current construction costs, labor, and materials. Replacement cost is often higher than market value and is what your dwelling coverage should reflect. Extended replacement cost coverage adds an additional 25-50% buffer in case reconstruction costs exceed your dwelling limit.
Most likely, yes. Standard replacement cost coverage rebuilds homes using modern construction methods and materials, which won't replicate historic architectural details like original millwork, period-appropriate fixtures, or custom craftsmanship. Historic homes often need agreed value policies or specialized historic home coverage that accounts for the actual cost of restoration using appropriate materials and skilled craftspeople who work with older properties.
Start by shopping around—rates vary dramatically between carriers for identical coverage. Bundle home and auto insurance for potential savings of 15-25%, ask about discounts for security systems, claims-free history, and professional affiliations. Consider raising your standard deductible to $2,500 if you have adequate savings, and improve your credit score if possible, as credit-based insurance scores significantly impact premiums. Installing impact-resistant roofing or wind mitigation features may also qualify you for additional discounts.
Get insurance quotes before you close—home insurance costs should factor into your overall housing budget. Verify the home's claims history through a CLUE report, as multiple prior claims can increase your premium or make coverage harder to obtain. For higher-value homes over $750,000, research specialty insurers who focus on high-net-worth properties. Make sure your dwelling coverage accounts for actual reconstruction costs, not just the purchase price, and understand both your standard and wind/hail deductibles before committing to a policy.
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