Best Home Insurance Rates In Wisconsin

On average, your neighbors pay $62 a month.

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Compare Homeowners Insurance In Wisconsin

Wisconsin is known as “America’s Dairyland.” That's because it is America’s largest cheese producer, second largest milk producer, and second largest butter producer. Milwaukee was the original home of Schlitz beer, Miller Brewing, and Pabst Blue Ribbon. The Badger State is also the birthplace of the Harley and Davidson brothers, founders of Harley-Davidson. Harry Houdini, Les Paul, Orson Welles, and Liberace were also born here. But, Wisconsin’s cold winters and stormy summers make it a home to homeowners insurance risks as well.

Average Wisconsin Homeowners Insurance Rates

How much is home insurance in Wisconsin? Wisconsin has very low average homeowners insurance premiums. The average cost of homeowners insurance in the state of Wisconsin is $750. This is much lower than the national average of $1,173. Only four states have lower average home insurance rates than Wisconsin.

Wisconsin Average Annual Homeowners Insurance Rates
  2013 2014 2015
Wisconsin Annual Average $665 $686 $750
Wisconsin Price Per Month $55 $57 $62
US Annual Average $1,096 $1,132 $1,173
US Cost Per Month $91 $94 $87
National Rank 48 48 47
Source: https://www.iii.org/fact-statistic/facts-statistics-homeowners-and-renters-insurance

The graph below shows the change in average Wisconsin home insurance rates from 2011 to 2015, the most recent year the data is available. According to the III, Wisconsin homeowners insurance rates increased from $592 in 2011 to $750 in 2015, a jump of $158 dollars, or 26.69 percent.

Wisconsin average homeowners insurance rates

Choosing a homeowners insurance company in Wisconsin should be easier. Actually, it’s already easy. he key to finding cheapest rates is to get a homeowners insurance quote comparison in Wisconsin from multiple companies.

Best Home Insurance Companies in Wisconsin

Most Popular Insurance Companies

Last year, these were the 10 most common home insurance companies reported by QuoteWizard users living in the state of Wisconsin. Out of the 9,473 Wisconsin homeowners that used QuoteWizard to request insurance quotes last year, 470 had no home insurance.

  1. American Family
  2. Progressive
  3. Allstate
  4. Farmers
  5. Liberty Mutual
  6. AAA
  7. Geico
  8. Erie
  9. Hartford
  10. MetLife
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Best Insurance Companies

The above list shows the most popular home insurers in Wisconsin according to our users. But popular doesn’t always mean best.

Our study on the Best Homeowners Insurance Companies focuses on top of the line companies. In no particular order, these companies stand out among the rest:

  1. Amica: Best Overall
  2. MetLife: Best for Bundling
  3. Allstate: Best for Local Agents
  4. Hartford: Best for Seniors
  5. State Farm: Best for Pet Owners
  6. Travelers: Best for Flexible Policies
  7. Nationwide: Best Replacement Coverage
  8. Farmers: Best for Eco-Friendly Homes
  9. Liberty Mutual: Best for Quick and Easy Quotes
  10. Auto Owners Insurance: Best Claims Experience
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Top Wisconsin Home Insurance Company Market Share

Source: Insurance Information Institute
Rank Company Financial Rating Market Share
1 American Family Insurance A+ 22.4%
2 ACUITY Mutual Insurance A+ 4.5%
3 Farmers Insurance A 3.9%
4 Allstate A+ 3.9%
5 Liberty Mutual A 3.9%
6 West Bend Mutual A 3.6%
7 Auto-Owners Insurance A++ 3.6%
8 Erie Insurance A+ 2.6%
9 USAA Insurance A++ 2.4%

Home Insurance Rate Factors

Many different factors come into play when insurance companies calculate the cost of homeowners insurance. Some, like the age of your home, are within your control. Others, like crime rates or natural disasters, are beyond your control. Here are some of the factors that affect the cost of homeowners insurance in Wisconsin.

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Average Home Listing Prices

Home prices can greatly affect the cost of insurance in any given state. A higher average home price generally means higher premiums in that state. For Wisconsin, the average listing price is $202,430 as of July 2015, much less than the national average of $284,748.

Average Burglary Rates

Burglary is a serious and sometimes violent property crime. States with higher average burglary rates generally have higher average home insurance premiums. That's because the likelihood that someone will need to file a claim is higher. According to data from the FBI Uniform Crime Report, in 2013, Wisconsin’s average burglary rate was 424.0 per 100,000 people. This is significantly lower than the national average of 610.0 per 100,000.

States with more law enforcement per capita tend to be safer. In Wisconsin, there are 19.9 law enforcement personnel per 100,000 total citizens. This is a bit less than the national median of 32 per 100,000.

Home Insurance Hazards

Wisconsin has a four season climate. Usually, winters are extremely cold and snowy. In the summers, the heat and humidity occasionally give way to severe thunderstorms and tornadoes. These year-round extremes bring a number of homeowners insurance hazards.

Very cold winters: Its famously cold winters make Wisconsin the #8 coldest state on average. January is the coldest month of the year, when average highs are below freezing throughout the state. In January, Milwaukee has an average high of 29 degrees and a low of 16. In Madison, January temperatures average a high of 26 and a low of 11 degrees. In Drummond, in northern Wisconsin, average January temperatures range from a high of 20 degrees to a low of 0 degrees.

Winters also bring heavy snow to Wisconsin. In fact, Wisconsin averages 39 days and 51 inches of snow per year. That said, snowfall is quite variable. In Green Bay, they average 40 days of snow per year and about 51 inches of snow annually. Towards Lake Superior, Bayfield receives 66 days of snow per year, and a whopping 103 inches per year, on average. Also, Milwaukee is ranked #4 among major US cities with the most days each year below freezing, with 126 days.

Thunderstorms: Thunderstorms are most common between June and August in Wisconsin. Northern Wisconsin averages about 30 days of thunderstorms per year, while south and central Wisconsin average over 40 days per year. These thunderstorms contribute greatly to the average 115 rainy days in Wisconsin. Thunderstorms in Wisconsin can be dangerous and very destructive. They bring heavy rains, strong winds, lightning, and can cause tornadoes, wildfires, and flooding. Proper preparation is the best way to combat this kind of extreme weather. The only way to obtain flood insurance is through the National Flood Insurance Program. Learn more about the NFIP here.

These thunderstorms are due in part to the state’s warm summers and high humidity. In summer months, southwestern parts of the state average 84 degrees with about 85% humidity. But eastern parts average closer to 80 degrees with about 85% humidity. And far north parts never have average highs above 80 degrees. This is because Lake Superior, to the northwest, moderates the surrounding area, keeping summers cooler and winters warmer.

Tornadoes: According to the National Oceanic and Atmospheric Administration, Wisconsin averages 21 tornadoes per year. In 2012, the National Weather Service ranked Wisconsin as the #13 most tornado-prone state. In 2005, Wisconsin saw a record 62 tornadoes. They occurred mostly in the southern portion of the state, which is more vulnerable due to its closer proximity to Tornado Alley. Dane and Grant counties have the severe weather events most often, including tornadoes.

Wisconsin Office of the Insurance Commissioner

Website:
Homepage
Insurance Commissioner:
Ted Nickel
Insurance Hotline:
(800) 236 – 8517
Office Hours:
Monday - Friday
7:45 am to 4:30 pm
File a Consumer Insurance Complaint
Complaint Page

Sources:

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