Whether you currently have a homeowners insurance policy or you’re buying it for the first time, it’s important to review your options in Wisconsin. Take a look at our information and don’t forget to enter your ZIP code for a fast and free insurance quote.
Best Home Insurance Providers in Wisconsin:
- Best Overall in Wisconsin: Hippo
- Cheapest Home Insurance in Wisconsin: SECURA
- Best for Customer Service: State Farm
- Best for Unique Coverage Options: American Family
- Best for Understanding Wisconsin: Wisconsin Mutual
Best Home Insurance Providers in Wisconsin
Which insurance providers can offer you the best coverage? Whether you’re looking for the most affordable or the most robust policy, we’ve got you covered.
1. Best Overall in Wisconsin: Hippo
Even if you’ve never heard of Hippo before, you’re going to want to look into this insurance provider. It offers low rates and 24/7 access by phone for both customer service and claims support. You’ll benefit from all of the standard home insurance coverages and more.
Hippo even offers coverage for appliances experiencing an electrical or mechanical issue. If you’re ready to see what Hippo can offer, all you need to do is get a quote and review your coverage options.
2. Cheapest Home Insurance in Wisconsin: SECURA
Looking for basic coverage at an affordable price? SECURA is a provider you should consider. Not only does SECURA offer affordable base premiums, but it also offers discounts that can help you save even more. You may be eligible for a discount if you remain a loyal customer, have a good credit score and if your home is newer.
If you want to broaden your coverage, you can select from a number of bundling options with its MILE-STONE protections.
3. Best for Customer Service: State Farm
State Farm goes above and beyond to give you the kind of service you deserve. It starts by offering a Discount Double Check feature to make sure you receive any and all discounts that you qualify for.
State Farm also offers tools to help you keep track of your belongings and how much they’re worth. State Farm can help you find a local contractor to repair your home if it’s damaged so you can get on with your life again.
4. Best for Unique Coverage Options: American Family
Your home can be used for business purposes as well, and American Family takes this into consideration. It offers coverage to protect your home if you use it as your office space or to provide a service such as in-home daycare. You can also customize your policy by adding identity theft coverage and personal identity and liability coverage. You may also be eligible for a number of discounts from American Family.
Some of its most popular discounts are for remaining claims-free, becoming a new customer, retiring or installing certain devices and features to protect your home.
5. Best for Understanding Wisconsin: Wisconsin Mutual
Wouldn’t it be nice to work with an insurance provider that understands your needs as a Wisconsin resident? Wisconsin Mutual offers a few different policies to meet the needs of residents who may use their property in different ways. For example, if you have a seasonal home or a hunting cabin, you might want something different from a standard homeowners insurance policy. Wisconsin Mutual can put together a policy to accommodate that.
It also offers policies specifically designed for homes based on when they were built. If you want a standard policy, don’t worry, Wisconsin Mutual can offer you that too.
Average Annual Home Insurance Premium in Wisconsin
After you’ve entered your ZIP code to get a quote for your homeowners insurance policy, you’ll need to review the policy options. It’s important that you’re aware of the common terms you’ll see in your policy:
- Premium: Your premium is the amount that you’ll have to pay for your homeowners insurance policy. Paying your premium will keep your policy active. Insurance companies usually offer a few payment options, such as monthly or annual payments.
- Deductible: Your policy will also come with a deductible. The deductible is the amount of money you’ll have to pay out of pocket for an approved claim. Once you’ve met your deductible, your insurance policy will begin to pay for covered claims.
- Liability limit: Each policy comes with a liability limit. This is the maximum amount of money that your insurance company will pay out for your covered claims. As you choose a policy, be sure your liability limit covers the cost to rebuild or replace your home and belongings if the worst happens.
Like most types of insurance, your homeowners insurance premium depends on a number of factors. Using a $200,000 home as an example, the average annual premium for homeowners insurance in Wisconsin is $788. This is using a policy with a $1,000 deductible and $100,000 in liability coverage.
If that number seems steep, you’ll be happy to know that most insurance providers offer discounts. Here are some of the most common discounts:
- Bundling your policies: If your insurance provider offers more than 1 type of insurance product, it probably also offers a discount for bundling your policies. You may be eligible for this discount if you purchase multiple insurance products from the provider. Don’t be afraid to ask your provider if you can receive a discount before you purchase your policies.
- Adding certain equipment: Insurance providers offer policies to protect you in the event of a loss. If you file a claim, they’ll need to payout. Of course, this means the fewer claims you file, the more an insurance provider benefits financially. This is why most insurance providers offer discounts on a homeowner’s insurance policy if you have certain safety and security devices in your home. This may include smoke alarms, security systems, sprinklers and other types of equipment.
- Loyalty: Once an insurance provider has your business, it wants to keep it. Some providers offer a discount to customers who stick around for several years.
- Paying in full: When you review your options, pay close attention to the payments. It can be nice to make monthly payments but you may end up paying more for your policy. Check to see if your insurance provider offers a discount if you pay for the full policy premium upfront rather than breaking it out into monthly payments.
What Does Homeowners Insurance Cover?
Why do you need homeowners insurance, anyway? It’s no secret that home repairs can be costly. Replacing your belongings can put a dent in your wallet, too. That’s why you’ll want to have homeowners insurance. If you end up facing a loss, your policy can help ease the financial burden. Let’s go over the coverage included in a standard homeowners insurance policy.
- Additional living expenses: This coverage can be a lifesaver if you’re unable to stay in your home due to damage. It can help pay for living expenses that you wouldn’t need otherwise, such as hotel bills and restaurant bills. You’ll be eligible for this coverage if you are unable to stay in your home due to a covered event such as a fire.
- Coverage for your belongings: You may not consider homeowners insurance when you consider belongings coverage. The items inside your home likely add up to a substantial amount of money if you think about it. If your belongings are stolen or damaged by an event such as a fire, it’s going to cost money to replace them. Your insurance provider will step in to help you repair or replace items if they are damaged by a covered event.
- Coverage for your structures: You can get coverage for your actual home and other buildings on your property, such as garages and greenhouses. If any of these buildings are damaged by a covered event, the repairs will probably be costly. Your insurance provider will offer financial support to help you rebuild and repair if your building is damaged by a covered event.
- Liability coverage: If someone is injured at your home or if personal property is damaged, you’ll be glad you have this. Liability coverage helps pay for legal fees that arise from lawsuits and even help you if you’re ordered to pay the injured party. This coverage also provides injured guests with medical coverage.
What Does Homeowners Insurance not Cover?
It’s important to understand that your homeowners insurance policy isn’t going to cover every single event that could damage your home. Here are some events that usually aren’t included in a standard homeowners insurance policy:
- Earthquake, flood and water damage: Depending on where you live, you might expect your policy to include coverage for earthquakes, floods and water damage. While some insurance providers offer additional coverage for earthquakes, floods and water damage, you shouldn’t expect it to be included in a standard policy.
- Maintenance issues: Let’s say you’ve bought an older home and find out that it wasn’t properly maintained. This can lead to issues such as mold, rust, rot and even infestations from rodents and insects. Unfortunately, your homeowners insurance policy probably won’t offer coverage for this, even if the damage is not your fault.
- Other factors: There are several other external factors that could cause damage to your home. For example, a long-term power outage could cause all of your perishable food to go bad. You may live near an industrial plant that puts out a lot of smoke, damaging the exterior of your home. Most homeowners insurance policies don’t offer coverage for events such as these.
How Do I Choose?
Now that you’re familiar with homeowners insurance in Wisconsin, you might feel a little overwhelmed. How do you pick the right policy for you? Here are a few tips:
- Take stock of your belongings. It may not seem important now, but if you do lose all of your belongings, you’ll want to be sure you can comfortably replace what you need. Be sure you purchase a policy with enough coverage to get you back on your feet.
- Think about where you live. In Wisconsin, you’re probably not all that worried about earthquakes. But if you live in an area that’s prone to flooding, you might want to consider adding flood coverage to your policy.
- Look at your current company. If you like your auto insurance provider, see if it offers homeowners insurance too. If you already have a homeowners insurance policy, don’t hesitate to look around when it comes time to renew your policy. There might be better options now than there were when you originally bought your policy.
Don’t forget, the best thing you can do is compare your options. Enter your ZIP code to get a fast, free quote today.