Tenn. Code Ann. § 45-6-215

Every pawnbroker licensed under this part shall provide a safe place for the keeping of the pledges provided by the pawnbroker, and shall have sufficient insurance coverage on the property held on the pledge for the benefit of the pledgor, to pay the stated value as recited on the pawn stub of the pawned article, in case of destruction by fire or other catastrophe, and the policy shall be made payable, in the case of loss, to the city or county clerk for the benefit of the pledgor, as the pledgor's interest may appear, which policy shall be deposited with the city or county clerk. “Pawn value,” for the purposes of this section, means the amount of money loaned on the particular article, as stated on the pawn ticket and in the stub book, as recited under § 45-6-209(b)(3).