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: Facts + Statistics: Homeowners 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.

Most Popular Wisconsin Home 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 Homeowners Insurance Companies in Wisconsin

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%
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Wisconsin Home Insurance Rate Factors

How much does a homeowners insurance policy cost in Wisconsin? When pricing an insurance policy, insurers assess many different factors. Some of these factors revolve around you and your home. Other factors, however, are based on regional factors.  

Your Personal Rate Factors 

Your House

Your house is, unsurprisingly, a huge part of your home insurance rate. There are three factors that stick out:

House age

In general, the older your house is, the higher your rates are. As your house ages, the odds of filing a claim increase. The odds (and rates) go even higher if the house hasn’t been properly taken care of.  Almost 20 percent of Wisconsin homes were built before 1939. With houses of this age, the chances of more claims and higher premiums raise considerably 

Roof age and quality

Your roof is a crucial protection point of your house. Homes with old or dilapidated roofs are an insurance risk, so they cost more to insure. An asphalt shingle roof, the most common roof material, lasts an average of 15 to 25 years. If your roof is on the wrong end of its life span, you’ll face higher rates.

Wisconsin gets a significant amount of snow, so consider a metal roof in order to protect your home to the fullest. Metal roofs have lengthy lifespans and they’re quite durable. And snow has a hard time gripping metal, so it’ll normally slide off before getting a chance to collect.

Replacement cost

Dwelling/structure coverage, the part of an insurance policy that covers the home structure, makes up the bulk of your home insurance premium. And your dwelling/structure coverage amount is based on your home’s replacement cost. This is the amount it costs to rebuild your home from the ground up.

Market value and replacement cost are two very different things. It could theoretically cost more to replace a house worth $150,000 in La Crosse than a house worth $250,000 in Madison. The market value isn’t always a reflection of the replacement cost, because it accounts for land value. Insurance does not. But insurance does assess a house’s size, style, finish materials, and general construction quality.

Claims History

People with previous home insurance claims on their record pay more for insurance. Claims stay on your record for five to seven years. If other claims occur during this time frame, your rates will increase even more. Think about it when you’re about to file a claim. If your damages are less than or just a little above what your deductible is, pay out of pocket. You’ll likely save money in the long run.

Pets

If Madison is any indication, dogs are a big deal in Wisconsin. If you’re a dog owner in WI, you should know how certain breeds can affect your rates. Some insurers consider specific breeds to be a home insurance risk, and so they cost more to insure.  

Credit Score

It’s a guarantee that your insurance company will look at your credit score. Unfortunately, people with bad credit pay more for home insurance. How much debt you currently have, your credit history, and credit limits are all key points insurers consider. The average credit score in Wisconsin is 707. This is a fair amount above the national average of 682.

Wisconsin Rate Factors

Weather

Weather is an important part of your insurance premium. But, unfortunately, it’s out of your control. If you live in an area that has extreme weather, you’ll pay more for insurance. This impacts everyone in the area.

Wisconsin sees three to six winter storms annually. Snow can be lethal during the winter. Annual snowfall in Wisconsin, depending on region, can be between 31.9 and 103.4 inches annually. You’ll want to make sure that your roof and siding are properly weatherproofed. Also, have your windows inspected. Your homeowners policy should cover them if they’re broken during a storm, but you’ll want to avoid that if possible. Finally, make sure to winterize your house. A frozen pipe can lead to a colossal headache.

Flooding is another danger in Wisconsin. In 2017, a state of emergency was declared for 17 different counties in Southeastern Wisconsin. It’s important to know that no home insurance policy covers flooding. You need to have flood insurance for that.

Crime

If you live in part of Wisconsin with a higher crime rate, it can affect your rates similar to the way weather does. Green Bay, for example, has an average burglary rate of 2,038 per 100,000 residents. This is below the national average of 2,362 per 100,000. But it’s above Wisconsin’s average of 1,808. This can result in increased premiums in Green Bay.

The best way to personally keep your rates low is prevention. Installing home security provides excellent peace of mind while helping to reduce your insurance costs.

Types of Home Insurance Policies

  • HO-1: This is the most basic home insurance available. It covers catastrophic loss against common named perils.
  • HO-2: This policy covers the HO-1 named perils as well as risks such as frozen pipes, accidental water discharge, and falling objects.
  • HO-3: This is the most popular policy due to the comprehensive coverage it provides. HO-3s cover a wide range including named perils, house and attached structures, liability, and your belongings.
  • HO-5: This is a premium plan. A HO-5 is an open peril policy. What this means is that it covers anything except if something is specifically excluded.
  • HO-6: This is home coverage for condos. It protects the interior and belongings.
  • HO-7: This provides HO-3 class coverage for mobile and manufactured homes.
  • HO-8: This is a policy designed for much older homes that would require higher replacement costs because of antiquated materials. This coverage provides protection based on replacement and repair costs using modern materials, which reduces the overall premium.

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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