Thompson Insurance Agency

Homeowners Insurance
in Tennessee
and Mississippi

Your home is your most important asset. We shop Travelers, Liberty Mutual, Grange, Nationwide, and more to find the policy that protects your investment — at a price that reflects your specific situation, not just your zip code.

What Homeowners Insurance Actually Does

A homeowners policy is a package of protections that works together to shield you from financial loss. The dwelling portion pays to rebuild or repair your home's structure if it is damaged by fire, storm, vandalism, or other covered perils. Personal property coverage extends to your furniture, clothing, electronics, and belongings. Liability protection covers you if someone is injured on your property and files a claim against you. And if a covered loss forces you out of your home, additional living expenses coverage pays for your hotel, meals, and incidentals while repairs are made.

For homeowners in Germantown, Collierville, Bartlett, Southaven, Olive Branch, and throughout the Mid-South, a well-structured homeowners policy is the foundation of a sound financial plan. Construction costs in the Memphis metro area have increased substantially in recent years, which means many homeowners are carrying outdated coverage limits that would leave them underinsured in the event of a total loss. We review your replacement cost with every new policy and at every renewal.

When You Need Homeowners Coverage

Nearly every homeowner needs this coverage — whether it is required by a lender or simply the responsible choice for protecting your largest investment.

Mortgage Holders

If you carry a mortgage on your home, your lender requires homeowners insurance as a condition of the loan. Letting coverage lapse typically triggers force-placed insurance from the lender — which is more expensive and protects the lender's interest, not yours.

Free-and-Clear Homeowners

Even without a lender's requirement, going uninsured on a home worth hundreds of thousands of dollars is rarely wise. A single storm, fire, or liability judgment could wipe out decades of equity in one event.

New Construction Buyers

Closing on a new home in Arlington, Collierville, or DeSoto County typically requires proof of insurance before the lender releases funds. We work with closing attorneys and real estate professionals throughout the Mid-South to ensure seamless coverage at closing.

Homeowners in High-Risk Zones

Properties near creeks, low-lying areas, or older neighborhoods with aging infrastructure face elevated risk. A properly structured homeowners policy, combined with flood and umbrella coverage, creates a comprehensive protection plan for these locations.

Core Coverages in a Standard Policy

Dwelling Coverage (Coverage A)

Pays to repair or rebuild your home's structure — walls, roof, floors, built-in appliances, and attached structures like a garage. Coverage should reflect today's actual rebuild cost, which we calculate using professional replacement cost estimators.

Personal Property (Coverage C)

Covers your belongings — furniture, clothing, electronics, and more — whether they are damaged at home or away. High-value items such as jewelry, art, or collectibles may require a scheduled endorsement for full protection.

Personal Liability (Coverage E)

Protects you if someone is injured on your property or you are responsible for damage to someone else's property. Standard limits begin at $100,000, but we typically recommend $300,000 or higher, paired with an umbrella policy.

Additional Living Expenses (Coverage D)

Pays for temporary housing, meals, and other necessary costs if your home becomes uninhabitable due to a covered loss. This coverage keeps your family stable while repairs are underway — a detail that matters most when you need it.

What's Typically Excluded

Standard homeowners policies are not all-risk policies. These common perils require separate coverage or endorsements.

Homeowners Insurance FAQ

Homeowners insurance is not legally mandated by state law, but virtually every mortgage lender requires it as a condition of the loan. If you own your home outright, the choice is yours — though going uninsured on your largest asset is rarely advisable.
A standard HO-3 policy covers the dwelling structure, attached structures, personal property, additional living expenses if you are displaced, personal liability, and medical payments to guests. Coverage is typically written on an open-perils basis for the dwelling and named-perils for contents.
No. Standard homeowners policies specifically exclude flood damage. If your property is near a creek, lake, or low-lying area in Shelby or DeSoto County, a separate flood insurance policy is strongly recommended. Visit our flood insurance page or use the Flood Zone Lookup tool to explore your options.
Coverage should be based on the replacement cost to rebuild your home — not its market value. In the Memphis metro area, construction costs have risen significantly in recent years. We use replacement cost estimators to calculate an accurate coverage amount for every client.
Key rating factors include the age and construction of your home, your roof material and age, proximity to a fire station, your claims history, credit-based insurance score, and the coverage limits and deductibles you select. As an independent agency, we shop multiple carriers to find the best combination for your situation.
Many carriers in the Mid-South apply a separate, higher deductible for wind and hail claims. This deductible is often expressed as a percentage of your dwelling coverage (1%–2%) rather than a flat dollar amount. We walk every client through their deductible structure before binding a policy.
Yes. Most carriers we represent offer a multi-policy discount when you bundle your homeowners and auto insurance. In many cases the savings on the auto policy alone offsets a meaningful portion of the home premium.
Document the damage with photos and video before any cleanup. Make temporary repairs only to prevent further damage. Contact our office and we will guide you through the claims process with your specific carrier — including helping you understand your coverage before you speak with an adjuster.

Ready to Get Covered?

Let's build the right policy for your situation. Start online or talk to a real advisor who knows the Mid-South market.