Obtaining a good deal on a home insurance policy is a top concern for many Wisconsin homeowners. The first step to getting affordable rates is to comparison shop with multiple insurers. We analyzed average rates for large home insurers to help you find the best homeowners insurance in Wisconsin.
Cheap Home Insurance in Wisconsin Cost Comparison
| Home insurance company | Average annual home insurance cost in Wisconsin |
|---|---|
|
West Bend
|
$673
|
|
$753
|
|
|
$794
|
|
|
Badger Mutual
|
$847
|
|
Secura
|
$897
|
|
AAA
|
$960
|
|
Wisconsin Mutual
|
$993
|
|
Rural Mutual
|
$1,018
|
|
Acuity
|
$1,042
|
|
$1,194
|
|
|
$1,198
|
|
|
$1,232
|
|
|
$1,283
|
|
|
$1,296
|
|
|
$1,364
|
|
|
$1,702
|
It’s wise to compare quotes for home insurance if your goal is to find cheap homeowners insurance. Our analysis finds home insurance costs can vary significantly from one insurance company to the next. You won’t know how much you can save without comparison shopping.
But you don’t want to base your decision on price alone. The best homeowners insurance company for you will also offer coverages and home insurance discounts that match your homeowner profile.
Homeowners Insurance Cost Factors in Wisconsin
When shopping for home insurance quotes, certain factors play a part in the price you’ll pay for your policy. Your ability to find cheap home insurance in Wisconsin will depend on several pricing factors, including:
- The age of the home
- The cost to rebuild the house
- The materials your home is made of
- Your claims history
- The claims history in your area
- The fire rating in your area
- Your credit
- Your deductible amount
- The coverage amount and policy limits
What Does Wisconsin Homeowners Insurance Cover?
A standard home insurance policy (called an HO-3) covers your house for any problem that’s not excluded in your policy.
Your belongings (personal property) are covered for specific “perils” in a standard home insurance policy. Explosions, fires, theft and vandalism are just a few of the problems covered by home insurance.
A standard homeowners insurance policy can be divided into these main coverage types:
- Dwelling: This pays to rebuild or repair your home if it’s damaged by a problem covered by your policy, for instance if it’s flooded by rainwater coming through a leak in your roof. It also covered structures that are attached to your home, like a garage, porch or deck.
- Other structures: This pays to replace or repair structures that are not attached to your home, like a shed or fence.
- Personal property: This pays to replace or repair your personal belongings after a problem like a tornado, fire or theft. This includes items like clothing, pots and pans, rugs, jewelry, furniture and other items.
- Liability: This pays for property damage and injuries you accidentally cause to others. For example, if someone slips on your sidewalk after a snowstorm, your liability insurance can pay for the cost of a legal defense, settlements and court judgments.
- Medical payments to others: This pays for smaller medical claims made by people who do not live in your household, regardless of who was at fault for the accident. For example, if your barefoot friend gets a nasty splinter from your deck, this coverage could pay for a trip to urgent care. Medical payments are typically sold in small amounts, like $1,000.
- Additional living expenses: If you are temporarily displaced from your home due to a problem covered by your policy (like a fire), additional living expenses coverage pays for costs like hotel bills, laundry services and restaurant meals.
Compare Home Insurance Quotes
1
Lemonade
Excellent
Average
2
Erie
Very good
Low
3
Chubb
OK
Very low
What’s Not Covered by Homeowners Insurance in Wisconsin?
Your home insurance policy excludes many types of problems. For example, common exclusions found in a standard HO-3 include problems like floods, sinkholes, earthquakes, war, wear and tear, insect and vermin infestation, power failure, intentional loss and nuclear hazard.
It’s a good idea to review your policy closely to understand what is not covered by your policy.
Flood Insurance in Wisconsin
A standard home insurance policy does not cover flood damage. With the number of floods Wisconsin faces per year, you may want to consider flood insurance if your property is at risk.
Financial assistance from the government after a flood can be limited. It’s a good idea to have your own flood insurance to rely on. The majority of people who buy flood insurance get it through the National Flood Insurance Program (NFIP), a federal program. Private flood insurance is also available.
FEMA’s Individual and Households Program (IHP) can provide direct and monetary assistance after an emergency or major disaster, if you qualify. This program helps people find housing after a problem directly due to a disaster and that’s not covered by other sources, such as insurance.
Tips for Buying Wisconsin Homeowners Insurance
Whether you are a longtime homeowner looking to switch to a new insurer or you are about to close on your first home, you want to find a policy at a good price without sacrificing coverage. Here are some home insurance shopping tips:
- Assess your rebuilding costs. Ask your insurance agent or a trusted contractor what it would cost to rebuild your home based on the cost of labor and materials in your area. This will help you decide how much home insurance you need. Your dwelling coverage should equal the estimate.
- Think about the benefits of replacement cost versus actual cash value. Consider replacement cost coverage for your home and belongings—you will get the amount you need to replace your home and items with new versions.
- Schedule your pricey possessions. A standard home insurance policy typically has sub-limits for certain items, like jewelry. It’s a good idea to schedule personal property that’s super valuable so it’s insured for what it’s worth.
- Close coverage gaps. A standard HO-3 might not meet your needs on its own. You can generally buy add-on coverage types like sewer and backup coverage to close any gaps in your coverage.
- Ask about discounts. Insurers offer a variety of discounts to attract and retain homeowners, such as a home security discount or a price break if you upgrade your roof, plumbing or wiring. It doesn’t hurt to ask your insurance agent if you qualify for savings.
- Go with a financially strong company. Look for an insurer with at least an “A” financial strength rating. You can check financial strength ratings from companies like A.M. Best or Standard & Poor’s.
- Get multiple quotes. Prices can vary widely among insurance companies, so you might not realize your potential for savings unless you gather multiple quotes. You can find home insurance quotes free online or by speaking with an independent insurance agent.
Methodology
Average home insurance rates were calculated using data from Quadrant Information Services. Rates are based on a policy with dwelling coverage of $300,000 and liability coverage of $100,000.
