Property insurance is a must if you own investment properties. Tennessee property insurance policies help you to protect your investments from fire, vandalism, damage and other disastrous events. This type of insurance also protects you from having to pay money if someone gets hurt on your property or if their property, such as a vehicle, gets damaged on your property.

When you contact insurance agents, such as Gray Insurance Agency with multiple offices throughout the state, you must find out what types of coverage the company offers. Some companies exclude losses from certain types of events, such as flooding. Be sure to let them know that the investment property isn't your primary residence, as this affects the price you will pay for coverage.

While you have the agent on the phone, find out if you can save money by insuring multiple properties through the agency. Some agents, such as Sparks Insurance Agents in Knoxville, provide discounts if you have different types of policies, such as auto, life and property with them; however, some will offer you a multiple-parcel discount as long as all of the parcels are located in Tennessee.

When you contact an insurance agent, you must ensure that the agent is licensed by the Tennessee Department of Commerce and Insurance. Business.com offers resources to help you throughout your search for Tennessee property insurance.