Best home insurance companies in Wisconsin
Based on Bankrate’s research, Allstate, State Farm and USAA are among the best homeowners insurance companies in Wisconsin. However, American Family and Farmers are also good options for Wisconsin homeowners. We began our search by collecting up-to-date average rates from Quadrant Information Services. In addition to pricing, we also researched J.D. Power customer satisfaction scores, coverage options, discounts and policy features. From there, we calculated a Bankrate Score for each company on a 5.0 scale, with a score closer to 5.0 indicating stronger competitiveness amongst these factors.
|Home insurance company||Bankrate Score||Average annual premium for $250k dwelling||J.D. Power score|
*Not officially ranked by J.D. Power due to eligibility restrictions.
USAA is one of the top-rated insurance companies in the U.S. It is accessible across all 50 states and consistently earns high J.D. Power scores for customer satisfaction, although the carrier is not officially eligible for rating. While only available to active-duty military members, veterans and their families, USAA offers premium benefits for members, loyalty discounts and a variety of coverage options. Whether you’re stationed in Fort McCoy, Wisconsin, or live off base, you could qualify for coverage. USAA, which serves the military community nationally, is the third-largest home insurer in the U.S. (6.7% market share) and carries an A++ (Superior) financial strength rating.
Learn more: USAA Insurance review
State Farm offers several other lines of insurance aside from home, including auto, motorcycle, off-road vehicle, farm and ranch, life and disability insurance. State Farm doesn’t offer many discounts, but Wisconsin homeowners might lower their premium by having a new or upgraded roof. Snow loads can be heavy in Wisconsin and can take a toll on roof durability. Knowing that you could receive a discount on your home insurance policy might encourage you to have your roof inspected and upgraded. J.D. Power scores State Farm highly in customer satisfaction and the company provides exceptional service to its Wisconsin policyholders through local agents across the state. State Farm, the nation’s largest home insurer with nearly 18% market share, has a very strong balance sheet and carries an A++ (Superior) financial strength rating from AM Best.
Learn more: State Farm Insurance review
American Family Insurance offers more than just home insurance. You can also buy auto, life, motorcycle, RV, boat, ATV and snowmobile insurance from the Madison, Wis.-based carrier. And when you bundle policies, you could save considerably on your home premium. American Family’s robust property coverage options include matching siding protection, equipment breakdown coverage and credit theft protection for Wisconsin residents in search of robust home and lifestyle coverage. The company received a lower-than-average score for digital service in the 2021 J.D. Power U.S. Digital Experience Study though, so if you like to handle your policy digitally, American Family might not be the best fit. However, the company is fiscally sound and carries an A (Exceptional) financial strength rating from AM Best.
Learn more: American Family Insurance review
Allstate may be a great option if you are interested in bundling your policies because of its wide variety of insurance options, which also includes auto, renters, umbrella and life insurance coverage. The second largest property insurer in the U.S. (8.9% of market share) has local agents available throughout the country to help you determine how much coverage you need. Allstate offers add-on coverage for things like identity theft, sports equipment, musical instruments and electronic data that can help you tailor your homeowners insurance policy to your needs. However, Allstate’s home insurance product does have a higher-than-average complaint index score from the National Association of Insurance Commissioners (NAIC), indicating that over twice as many complaints are filed against the company than the national baseline.
Learn more: Allstate Insurance review
Farmers Insurance Group is one of the oldest insurance companies that offers home coverage in Wisconsin. The national carrier started off selling insurance for farm vehicles in 1928. Today, it offers insurance for automobiles, homes and life. Farmers offers a variety of coverage, as well as an option to reduce your deductible annually for each additional year you maintain your policy with the company. The insurer has a wide range of add-ons and discounts to further personalize your home’s policy and save while you are at it. However, Farmers has the lowest J.D. Power customer satisfaction score of all the companies on our list and the highest premium. Farmers carries an A (Exceptional) financial strength rating from AM Best.
Learn more: Farmers 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 neighboring Minnesota’s average of $1,785 annually. So why is Wisconsin homeowners insurance so cheap? The state is relatively protected from devastating natural disasters, which may contribute to its lower-than-average premiums.
In comparison to coastal states like Florida, where the average cost of home insurance is $1,353 per year, Wisconsin is much cheaper. Wisconsin is also cheaper than the neighboring states of Iowa and Michigan, with annual rates of $1,289 and $1,120, respectively. There are a few states that are cheaper than Wisconsin, like Hawaii and Utah, but America’s Dairyland is overall a relatively inexpensive state to buy a home insurance policy.
Home insurance in Wisconsin
Wisconsin is relatively protected from many natural disasters. However, like all states, there are considerations that you should be aware of.
Common causes of loss in Wisconsin
Wisconsin home insurance rates are affected by several perils that lead to property insurance claims. Some common causes of loss in Wisconsin are:
- Sinkholes: Areas of Wisconsin are prone to sinkholes. However, compared to other states that have significant sinkhole issues, Wisconsin’s are usually less severe. Most are smaller than 10 feet.
- Floods: Flooding could be a concern in Wisconsin, but the likelihood of this loss depends on what part of the state you are in. In 2008 in Southern Wisconsin, 31 counties were declared to be disaster areas due to widespread flooding. Over 40,000 homes and 5,000 businesses were severely damaged. The total damage added up to $1.2 billion.
- Snowfall: Being a northern state, Wisconsin receives heavy snow frequently. Snow can cause damage in a number of ways. The weight can damage your roof and exterior of your home, melting snow can cause leaks and internal damage and the cold temperatures can freeze and burst your pipes.
- Windstorms: Severe weather such as thunderstorms and high winds, including tornadoes, can lead to property damage. 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, you may want to consider these optional coverage types:
- Flood insurance: Homeowners insurance companies generally do not cover flood damage on standard policies. Flood insurance is sold through the National Flood Insurance Program (NFIP) and from dozens of private carriers. To see if you are required to carry flood insurance, input your home’s address into a FEMA flood map, but know that this is only meant as a guide. As 90% of U.S. natural disasters involve flooding, the Insurance Information Institute (Triple-I) recommends all Wisconsin homeowners consider flood insurance.
- Sinkhole coverage: Sinkhole protection may be necessary if you live in a sinkhole-prone area of 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 weather fluctuations can wreak havoc on heating, plumbing and electrical systems. Adding this optional coverage is similar to buying an extended warranty. If your furnace fails, your home insurer could help pay for its repair or replacement, as long as the failure is not because of regular wear and tear due to age or lack of maintenance.
- Water backup coverage: If you suffer damage due to a backed up sewer or drain line, you’ll want to consider this add-on option to have coverage. Many other types of water damage may be covered automatically, but water backup is not.
Frequently asked questions
What is the best homeowners insurance in Wisconsin?
The best homeowners insurance in Wisconsin will vary based on your needs and wants. A homeowner looking for the lowest price and a homeowner looking for a certain specialty coverage may find that different companies suit their needs. Consider getting multiple 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, start by contacting a few companies to get quotes. Quotes can be obtained online, over the phone or through a local agent. You’ll need to provide your name, date of birth and some information about your house like the address, year built, roof age and information about custom features.
Is flood insurance recommended for all of Wisconsin?
The Triple-I recommends that everyone consider flood insurance, regardless of where you live in Wisconsin. Flooding can be caused by a variety of factors, all is possible anywhere in the state. If you are in a FEMA-designated flood zone and you have a mortgage or another type of home loan, your financial institution will likely require that you carry flood insurance through NFIP or a private insurer.
Is ice damage covered by home insurance?
Not all types of ice damage may be covered by homeowners insurance. Speak with your agent for more details. For example, ice damage 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, particularly if you did not take action to mitigate damage. As for frozen pipes, if the claims adjuster finds you did not properly maintain or take reasonable steps to prevent your pipes from freezing, the damage may not be covered. Your insurance agent can explain what’s covered and what’s excluded in your home policy.
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.