Best homeowners insurance in Wisconsin of 2021
Wisconsin is a relatively easy state to find insurance companies since home insurance costs tend to be on a more affordable spectrum. The average cost of home insurance for a $250,000 dwelling coverage policy is $986 annually, or $82 per month. Wisconsin is not plagued by the same seasonal storms as the coastal states because it is not on an active fault line and it is not located in tornado alley.
When shopping for the best Wisconsin homeowners insurance companies, you likely want to find both an acceptable price and top-notch service. Bankrate has done research into the best Wisconsin home insurance options to help make your decision easier.
Best home insurance companies in Wisconsin
Many insurance providers operate in Wisconsin, all with varying strengths and weaknesses. Bankrate collected up-to-date rate data from Quadrant Information Services as the preliminary criteria of what the best insurance companies in Wisconsin are. However, just because a carrier is the cheapest does not mean it is the best. In addition to pricing and credit rating, customer opinions are often crucial. We feature J.D. Power customer satisfaction scores because it is an independent consumer researching agency.
|Home insurance company||Average annual premium for $250k dwelling||J.D. Power score|
|Allstate||$954||829 / 1,000|
|American Family||$859||821 / 1,000|
|Farmers||$1,730||814 / 1,000|
|State Farm||$1,087||829 / 1,000|
|USAA||$801||*889 / 1,000|
*Due to membership eligibility restrictions, USAA is not eligible for official rankings by J.D. Power.
Allstate may be a great option if you are interested in bundling your policies because of its wide variety of insurance options. There are plenty of local agents available to help you determine how much coverage you need. Allstate offers helpful add-on coverage for things like identity theft, sports equipment, musical instruments and electronic data. You may even be able to get reimbursement for certain things to make your home more environmentally friendly.
Learn more: Allstate Insurance review
American Family offers more than just home insurance. You can also buy auto, life, motorcycle insurance, RV, Boat, ATV and snowmobile insurance. And when you bundle coverages, you could save considerably on premiums. American Family’s coverage options include matching siding protection, equipment breakdown coverage and credit theft protection for Wisconsin residents in search of robust home and lifestyle coverage.
Learn more: American Family Insurance review
Farmers is one of the oldest insurance companies which started off selling insurance to farm vehicles in 1928. Today, it offers insurance for automobiles, homes and life. Farmers offers a variety of coverage options, including an option to reduce your deductible annually for each additional year you maintain your policy. The insurance company also has a wide range of add-ons and discounts to further personalize your home’s policy — and save while you are at it.
Learn more: Farmers Insurance review
State Farm offers home, car, motorcycle, boat, off-road, motorhome, farm and ranch, life, health, disability and liability insurance through State Farm. This provider offers several discounts, including for home alert protection, certain roofing materials and higher deductibles. Snow loads on Wisconsin roofs can really take a toll on their durability. Knowing that you could receive a discount on your home insurance policy now and in the future for upgrading your roof may be the incentive you need to get it done before winter arrives.
Learn more: State Farm Insurance review
USAA is one of the top-rated insurance companies in the U.S. It is accessible across all 50 states and consistently gets high scores in J.D. Power Score ratings for customer satisfaction. Although only available to military members and their families, USAA offers premium benefits for members, loyalty discounts and a variety of coverage options. You do not have to be stationed in Fort McCoy to qualify for coverage. Veterans, retired military and family members can also join USAA.
Learn more: USAA Insurance review
How much is homeowners insurance in Wisconsin?
The average cost of home insurance in Wisconsin is $986 per year, which is $326 less than the national average of $1,312 annually and just over half of Minnesota’s average of $1,785 annually. So what makes Wisconsin so cheap? First, it is not a coastal state, so it is not as subject to hurricanes from the coast. Second, earthquakes are rare in Wisconsin. The last major earthquake it had was on May 6, 1947.
On the whole, Wisconsin is a cheap state to insure your home. In comparison to coastal states like Florida, where the average cost of home insurance is $1,353 per year, Wisconsin is much cheaper. Compared to states like Utah, with an average insurance rate of $647 and where snow is the only major concern, Wisconsin is a bit more expensive. Wisconsin is cheaper than the neighboring states of Iowa and Michigan, with rates of $1,289 and $1,120, respectively.
Home insurance in Wisconsin
Because Wisconsin is not prone to hurricanes and tornadoes, you likely do not have to worry about damages from natural disasters related to hurricane season. However, Wisconsin does have sinkholes so it may be important to consider this state factor if you are about to obtain home insurance.
Common causes of loss in Wisconsin
Wisconsin home insurance rates are affected by several perils that lead to home insurance claims. Some causes of losses in Wisconsin are:
- Sinkholes: Wisconsin is prone to sinkholes (primarily in the south and west and east). However, compared to other states dealing with sinkholes, Wisconsin’s are relatively tame and minor— most smaller than 10 feet.
- Floods/snowfall: The largest threats to Wisconsin are snowfall and flooding, but even this is not statewide and depends on what part of the state you are in. In 2008 in Southern Wisconsin, 31 counties were declared to be disaster areas. Around 40,000 homes and 5,000 businesses were severely damaged. The total damage added up to $1.2 billion on property damages. Snowfall is covered, but flooding is not included in a standard home insurance policy.
- Windstorms: Severe weather such as thunderstorms and high winds can lead to property damage. Flooding has already been mentioned. In addition, broken tree branches from high winds could damage rooftops, carports or other home structures.
Home insurance coverage options in Wisconsin
Heavy flooding and sinkholes lead to common causes of loss in Wisconsin for homeowners. If you are insuring your home within Wisconsin, it may be worth looking into sinkhole protection, flood insurance, and other structures coverage:
- Flood insurance: Flood insurance is sold through the National Flood Insurance Program (NFIP), which is a U.S. government program. Though many companies may list flood insurance on their website, they are only liaisons. You can only purchase flood insurance through the NFIP, but it is easier to have your insurance provider sign you up if it offers that service. To see if you need flood insurance, input your home’s address into a FEMA flood map, but know that this is only meant as a guide.
- Sinkhole coverage: Sinkhole protection may be necessary if you live in a sinkhole-prone area in Wisconsin. Some areas in the eastern, southern and western parts of the state have dolomite and limestone beneath the surface. These two types of stone are soluble and prone to breaking.
- Equipment breakdown: Wisconsin’s extreme weather can wreak havoc on heating, plumbing and electrical systems. Boilers and furnaces could fail in the worst of moments, such as during a below-zero storm. Adding the optional coverage is similar to buying an extended warranty — if your furnace fails, your insurance company would help pay for its repair or replacement.
Frequently asked questions
What is the best homeowners insurance in Wisconsin?
The best homeowners insurance for you might vary based on your needs and wants. Consider getting several quotes and doing additional research to decide which one is right for you.
How do I get homeowners insurance in Wisconsin?
To get homeowners insurance in Wisconsin, contact a company and get a quote. Quotes can be obtained online, over the phone or with an agent one-on-one. For the best chances of finding a good match for you, it may help to get several quotes.
Is flood insurance recommended for all of Wisconsin?
Though it is difficult to give a blanket statement, flood insurance is likely a wise investment regardless of where you live in Wisconsin. Flooding can be caused by a variety of factors, all of which are possible throughout the entire state. You may also want to consider hazard insurance too.
Is ice damage covered by home insurance?
Not all types of ice damage may be covered by your home insurance company. Speak with your agent for more details. For example, ice dams may be covered if the damage is caused to the exterior, such as the roof. However, damage to your belongings or personal property may not be covered. As for frozen pipes, if the claims adjuster finds you did not properly maintain or take reasonable steps to prevent the frozen pipes from happening, the damage may not be covered.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.