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Best homeowners insurance in Wisconsin for 2022

Updated Dec 01, 2022
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How Bankrate chose the best home insurance companies in Wisconsin

To find the best Wisconsin homeowners insurance, Bankrate’s insurance editorial team began by reviewing coverage from some of the largest companies in the state. We also collected average rate data from Quadrant Information Services. Based on the findings, each Wisconsin home insurance company earned a Bankrate Score on a five-point scale. Bankrate Scores are calculated using criteria like affordability, coverage options, financial strength and customer satisfaction.
 
If you are in the market for home insurance in Wisconsin, using Bankrate Scores can help you quickly narrow down the best Wisconsin homeowners insurance companies. Insurers with high Bankrate Scores generally excel in multiple areas, such as price and policy options. Companies with low Bankrate Scores may fall short in certain categories, and might not be as strong overall.

Best home insurance companies in Wisconsin

The best Wisconsin homeowners insurance companies are State Farm, Erie and Chubb, according to Bankrate’s comprehensive review. These carriers have the highest Bankrate Scores, have between Excellent and Superior financial strength, as designated by AM Best, and ranked in J.D. Power’s most recent Home Insurance Study. Of these three companies, Erie is the only one with average rates that are cheaper than the statewide average cost of $928 per year for a policy with $250,000 in dwelling coverage.

The table below provides a closer look at the Wisconsin home insurance companies Bankrate determined were the best, based on its unique methodology and scoring system:

State Farm
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
J.D. Power
829
/1,000
AM Best
A++
Average monthly premium*
$90
Average annual premium*
$1,075
Read review
Erie
Rating: 4.6 stars out of 5
4.6
Bankrate Score
Info Hover for more
J.D. Power
827
/1,000
AM Best
A+
Average monthly premium*
$53
Average annual premium*
$632
Get a quote
Chubb
Rating: 4.4 stars out of 5
4.4
Bankrate Score
Info Hover for more
J.D. Power
809
/1,000
AM Best
A++
Average monthly premium*
$112
Average annual premium*
$1,348
Get a quote
Auto-Owners
Rating: 4.3 stars out of 5
4.3
Bankrate Score
Info Hover for more
J.D. Power
825
/1,000
AM Best
A++
Average monthly premium*
$90
Average annual premium*
$1,085
Get a quote
West Bend
J.D. Power
Not rated
AM Best
A
Average monthly premium*
$44
Average annual premium*
$525
Get a quote
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*Average rates are for annual policies with $250,000 in dwelling coverage

Best home insurance company for customer satisfaction

J.D. Power:
829 /1,000
AM Best:
A ++
Avg. annual premium for 250k dwelling
$ 1,075
State Farm Insurance review

Explore Bankrate's review

Best home insurance company for guaranteed replacement cost coverage

J.D. Power:
827 /1,000
AM Best:
A +
Avg. annual premium for 250k dwelling
$ 632
Erie Insurance review

Explore Bankrate's review

Best home insurance company for robust coverage

J.D. Power:
809 /1,000
AM Best:
A ++
Avg. annual premium for 250k dwelling
$ 1,348
Chubb Insurance review

Explore Bankrate's review

Best home insurance company for discount opportunities

J.D. Power:
825 /1,000
AM Best:
A ++
Avg. annual premium for 250k dwelling
$ 1,085
Auto-Owners Insurance review

Explore Bankrate's review

Best home insurance company for coverage on a budget

West Bend

J.D. Power:
Not rated
AM Best:
A
Avg. annual premium for 250k dwelling
$ 525
Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

How much is homeowners insurance in Wisconsin?

The average home insurance premium in Wisconsin is $928 per year for a policy with $250,000 in dwelling coverage. Wisconsin homeowners pay less on average for home insurance than the average American. For comparison, the U.S. national average rate is $1,383 per year for the same level of coverage.
 
In addition, the cost of home insurance in Wisconsin is cheaper than in many nearby states, like Minnesota at $1,880 annually and Iowa at $1,290 annually. This could be due to the fact that Wisconsin has a low property crime rate and does not experience major natural disasters, like hurricanes or tornadoes, leading to a lower probability of costly claims.
 
Although Wisconsin has cheap home insurance based on average rate data, it’s important to remember that every homeowner pays a different rate for coverage. Personal factors, like your age, gender, credit score, claim history, ZIP code, the size and age of your home and its proximity to a fire station can all impact the cost of your policy.
 
In the table below, you can see how home insurance rates vary based on location in Wisconsin:

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

Written by
June Sham
Insurance Writer

June Sham is an insurance writer for Bankrate. Before joining the team, she worked for nearly three years as a licensed producer writing auto, property, umbrella and earthquake policies.

Edited by Insurance Editor
Reviewed by Director of corporate communications, Insurance Information Institute