Updated July 10, 2026
Storms do a lot of the pricing in Memphis. Wind and hail exposure shapes property premiums and deductibles, and knowing that up front makes every quote easier to read. For employers, there is a legal layer on top of all this, since Tennessee requires workers compensation for most businesses once they hire. Whether you are insuring a house, a car, or a company in Memphis, the sections below move from personal coverage through commercial lines to individual trades. When you are ready, any quote form on the page starts the comparison.
The Memphis Insurance Picture
Median household income
$51,211
ACS 2023
Median home value
$157,100
ACS 2023
Business establishments
19,659
Shelby County, CBP 2022
Leading sector
Retail trade
14.9% of county establishments
Price pressure is real in this market. Comparing carriers and adjusting deductibles are the two levers that typically move a quote most. A retail-heavy base means foot traffic and inventory, so general liability insurance and commercial property insurance questions come up often.
What Drives Insurance Costs in Memphis
Tennessee has 219 federal disaster declarations on record, including Severe Storms & Tornadoes (2024) and Hurricane/Tropical Storm (2023) [4].
Tornado and wind
Wind is the headline peril here. Most homeowners and commercial property policies can help cover tornado damage, though carriers may apply separate wind and hail deductibles. Reviewing those deductibles is one of the fastest ways to understand a quote.
Severe storms
Severe storms drive most weather claims here, through wind, lightning, fallen trees, and sudden water damage. Standard property policies typically respond to those perils. The differences between quotes usually come down to deductibles and exclusions.
State oversight
The Tennessee Department of Commerce and Insurance publishes consumer guidance and handles complaints statewide [5].
Home & Auto in Memphis
Insuring a home in Memphis
Homes in Memphis carry a median value of $157,100 [3], so getting the dwelling limit right typically matters more than any single discount. Carriers in wind and hail territory often set storm deductibles as a share of the dwelling limit instead of a flat dollar amount [6]. On a Memphis home, that share decides what a roof claim costs out of pocket. For rates and carrier options, start with homeowners insurance in Memphis.
Insuring a car in Memphis
Drivers in Tennessee must carry at least $25,000 in bodily injury liability per person, $50,000 per accident, and $25,000 for property damage [7]. Those limits are a floor, not a recommendation, and a single at-fault crash can exceed them. Rates and carrier options for Memphis drivers are covered under car insurance in Memphis.
Get Insured in Memphis
Compare rates from multiple carriers. Free quotes, no obligation.
Insurance Coverage in Memphis
Personal and business policies from trusted carriers serving Memphis, TN.
Business Coverage in Memphis
Shelby County counts 19,659 business establishments [1], and the local mix of industries decides which coverages carriers quote most. With retail leading the mix, general liability insurance and commercial property insurance anchor most local business policies. Statewide rules live in the business insurance in Tennessee hub, and the trade guides below cover Memphis specifics.
Business Insurance by Trade in Memphis
These are the trades with dedicated local guides for Memphis, TN so far. More are added as our city research grows.
Auto Mechanic Insurance in Memphis
Get coverage built for auto repair shops, from garage liability insurance to garage keepers coverage and commercial property insurance for auto shops.
Mortgage Broker Insurance in Memphis
Get a mortgage broker insurance quote built around your brokerage’s client-facing and data-sensitive work.
Roofing Insurance in Memphis
Get roofing insurance coverage shaped around your crews, tools, vehicles, and job-site requirements.
Towing Company Insurance in Memphis
Protect tow trucks, customer vehicles, and roadside jobs with coverage built for towing operations.
Tailors Insurance in Memphis
Get a tailors insurance quote built for alteration shops, seamstresses, and custom clothing businesses.
Painting Contractor Insurance in Memphis
Get a painting contractor insurance quote built for property damage risk, jobsite proof needs, and active project requirements.
Consulting Insurance in Memphis
Consulting insurance helps protect advisory firms when a client says advice, analysis, or project work caused a loss.
Catering Business Insurance in Memphis
Get coverage built for off-premise food service, event staffing, and venue contract demands.
Food Truck Insurance in Memphis
Get coverage built for mobile kitchen operations, from vehicle and equipment protection to liability for serving food at festivals, downtown routes, and parking lot service locations.
Alarm Contractor Insurance in Memphis
Request an alarm contractor insurance quote built around installation, service, and client contract needs.
Electrical Contractor Insurance in Memphis
Get an electrical contractor insurance quote designed for electricians who need protection for property damage, injury claims, and equipment loss.
Cleaning Service Insurance in Memphis
Get a cleaning service insurance quote built for crews working in homes, offices, and other client sites.
Insurance by Industry
Coverage built around your industry in Memphis, TN.
Healthcare
Insurance for healthcare providers and medical practices.
Professional Services
Insurance for consultants, accountants, and professional firms.
Retail
Insurance for retail stores and e-commerce businesses.
Finance
Insurance for banks, financial advisors, and fintech firms.
Personal Care Services
Insurance for salons, spas, and personal care providers.
Builders Risk / Construction Support
Builders risk insurance for projects and renovations.
Energy & Power
Insurance for energy producers and power companies.
Wholesalers & Distributors
Insurance for wholesalers and distribution companies.
Hospitality & Restaurant
Insurance for restaurants, hotels, and hospitality businesses.
Skilled Trades
Insurance for electricians, plumbers, and skilled tradespeople.
Manufacturing
Insurance for manufacturers and industrial operations.
Construction
Insurance for construction companies and contractors.
Veterinary Services
Insurance for veterinary clinics and animal hospitals.
Education
Insurance for schools and educational institutions.
Technology
Insurance for tech companies, SaaS providers, and IT firms.
Real Estate
Insurance for real estate agencies and property managers.
Agribusiness
Insurance for farms, ranches, and agricultural operations.
Automotive
Insurance for auto dealerships, repair shops, and automotive services.
Insurance Resources
How Much Does Commercial Auto Insurance Cost?
Commercial auto insurance costs vary widely based on your vehicles, drivers, and industry. Learn the average premiums, what drives pricing, and how to reduce your costs without sacrificing coverage.
How Much Does General Liability Insurance Cost?
General liability insurance costs depend on your industry, revenue, claims history, and coverage needs. Learn average premiums by industry and discover proven strategies to lower your costs.
How Much Does Workers Compensation Insurance Cost?
Workers compensation insurance costs vary dramatically by state, industry, and classification code. Learn what businesses actually pay, what factors drive your premium, and proven strategies to reduce your rates without sacrificing employee protection.
How Much Does Professional Liability Insurance Cost?
Professional liability insurance costs depend on your profession, revenue, and claims history. This guide breaks down average E&O insurance premiums by profession, explains what drives pricing, and shows you how to compare coverage options and pricing.
How Much Does Cyber Liability Insurance Cost?
Cyber liability insurance has become essential for businesses of all sizes as data breaches and ransomware attacks grow more frequent. This guide covers what cyber insurance costs, what factors affect pricing, and how to find the right coverage for your business.
How Much Does Commercial Property Insurance Cost?
Commercial property insurance costs vary based on your building type, location, construction, and coverage limits. This guide covers average costs, pricing factors, and practical strategies to protect your property while keeping premiums manageable.
FAQ
Insurance in Memphis: FAQ
Tennessee requires at least $25,000 in bodily injury liability per person, $50,000 per accident, and $25,000 in property damage, per the state's published minimums. Most Memphis drivers carry higher limits, because medical bills after a bad wreck outrun the state floor fast.
Tennessee requires it for most employers once a business reaches 5 employees, per the Tennessee Department of Commerce and Insurance. Typical exemptions include sole proprietors and partners. Lenders and client contracts often demand proof even where the statute does not.
Typically not. Standard homeowners policies usually exclude rising water, so flood protection means a separate policy through FEMA's National Flood Insurance Program or a private flood carrier. With flooding among Tennessee's leading hazards, it is a question worth answering before the next storm, not after.
Often, yes. Carriers may quote a separate percentage-based deductible for wind and hail, which the Insurance Information Institute notes can change what a claim costs substantially. Compare that percentage across quotes, not just the premium.
Start with a ZIP code in the quote form. As a marketplace, CPK compares quotes from licensed carriers in its network rather than selling policies itself, and the comparison is free with no obligation. Reviewing several quotes side by side is the practical way to see real Memphis pricing.
Insurance in Tennessee is overseen by the Tennessee Department of Commerce and Insurance, which licenses carriers and takes consumer complaints. Filing a complaint there is the standard route when a dispute cannot be resolved with the carrier directly.
Sources
- 1.U.S. Census Bureau, County Business Patterns (2022), Shelby County(Shelby County counts 19,659 business establishments.; Retail trade accounts for 14.9% of Shelby County establishments, with Health care & social assistance at 11.6%.)
- 2.U.S. Census Bureau, ACS 5-Year Estimates (2023), table B19013(Median household income in Memphis is $51,211.)
- 3.U.S. Census Bureau, ACS 5-Year Estimates (2023), table B25077(The median home value in Memphis is $157,100.)
- 4.FEMA Disaster Declarations(Tennessee has 219 federal disaster declarations on record.)
- 5.Tennessee Department of Commerce and Insurance(Tennessee Department of Commerce and Insurance regulates insurance in Tennessee.; Tennessee requires workers compensation coverage once a business reaches 5 employees.)
- 6.Insurance Information Institute, windstorm deductibles(Carriers may apply separate percentage-based wind, hail, or hurricane deductibles.)
- 7.Tennessee minimum auto liability limits (verified 2026-07-06)(Minimum auto liability limits in Tennessee are $25,000/$50,000/$25,000.)
- 8.FEMA National Flood Insurance Program(Flood coverage is sold separately through FEMA's National Flood Insurance Program.)