More on Home Insurance
More on Home Insurance
The cost of homeowners insurance in Wisconsin is $1,074 a year for the average amount of coverage. Wisconsin residents can compare rates from multiple companies with Policygenius.
Published August 24, 2020|7 min read
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Homeowners insurance is essential financial protection for the 67% of Wisconsin residents who own a home. When shopping for homeowners insurance, homeowners in The Badger State should keep in mind the state’s penchant for heavy snowfall and thunderstorms.
The statewide average cost of homeowners insurance in Wisconsin is $1,074 per year, but policy premiums can differ greatly based on specific factors related to your home and the details of your policy. Your rates will be directly impacted by your home’s condition and style of build, its location, your credit and claims history, and your policy deductible amount. Rates also vary from company to company for the same level of coverage, which is why it’s so important to compare policies from different companies — that’s where we come in.
To help simplify your shopping experience, Policygenius reviewed the five best homeowners insurance companies in Wisconsin offered through our website. We also calculated the cheapest and most expensive cities in Wisconsin for home insurance based on hundreds of submitted quotes.
The average cost of homeowners insurance in Wisconsin is $1,074 for $100,000–500,000 in coverage
The cheapest homeowners insurance company in Wisconsin is Hippo, according to Policygenius quote data
When deciding on policy coverage, Wisconsin residents should consider the state’s snowy winters and severe thunderstorms
It’s a good idea to shop around for different homeowners insurance companies before deciding which company you want to insure what is likely your biggest financial asset. You should look for an insurance company that not only offers affordable rates, but also provides good customer service and a reputable claims process, in addition to other considerations.
Using criteria that we determined was important to the average homeowner, we determined the following five companies were the best homeowners insurance companies in Wisconsin. Read about our methodology here.
Hippo provides the cheapest Wisconsin home insurance quote of any Policygenius partner carrier. The average quote with Hippo is $862 for $100,000–500,000 in coverage, which is over $200 cheaper than the statewide average of $1,074. If you’re a Wisconsin homeowner looking for a budget pick, Hippo may be your best bet.
Read our full review of Hippo here
Though it’s the most expensive company we’ve reviewed in Wisconsin, Encompass offers an extensive amount of coverage to homeowners. Encompass has three separate coverage packages that include all of the primary coverages you find in a standard home insurance policy, as well as several coverage enhancements and policy add-ons like replacement cost coverage, water backup protection, identity theft protection, fine art protection, and more.
Read our full review of Encompass here
Wisconsin homeowners may want to consider maximizing coverage for the structure of their home. Safeco has four comprehensive tiers of coverage, and all include the option to add extended replacement cost, a policy add-on that increases your home’s coverage limits an additional 25% or 50% if rebuild costs exceed your dwelling coverage amount. Safeco’s “Premier Plan”, its highest level of coverage, includes guaranteed replacement cost, which pays for a rebuild of your home regardless of the price. With its excellent replacement cost coverage options, Safeco may be your best bet against severe property damage from tornadoes and severe thunderstorms.
Read our full review of Safeco here
In terms of discounts, few Wiscnosin insurance companies compare to Nationwide. Though it is more expensive than Wisconsin’s statewide average premium, Nationwide offers a generous multi-policy discount if you bundle your home insurance policy with their auto insurance or another type of property insurance. Nationwide also offers discounts for securing and strengthening your home and roof from break-ins and bad weather. If you haven’t filed a claim in three years or if you recently purchased your home, that can also land you a discount with Nationwide.
Read our full review of Nationwide here.
One important indicator of an insurance company’s ability to pay out claims in an effective and timely manner is their financial stability, and Travelers is among the highest-rated insurers in that area. With an A++ rating with A.M. Best, Travelers has the highest score a company can receive with the insurance company credit rating agency. Travelers also has high marks with Standard & Poors, which measures long-term financial stability, as well as Moody’s, which measures what the expected losses would be if a company were to go into default.
Read our full review of Travelers here
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When comparing insurance companies, Wisconsin residents may find that rates differ greatly from company to company for the same level of coverage. A more expensive policy may provide more coverage add-ons in a basic plan than their competitors, but some companies may simply charge more for coverage in certain areas than others.
After reviewing hundreds of quotes submitted with Policygenius, we found that Hippo is the cheapest insurance company in Wisconsin with an average annual premium of $862 for $100,000–500,000 in coverage. Encompass is the most expensive with an average annual premium of $1,567.
The average cost of homeowners insurance in Wisconsin will also differ considerably based on the amount of insurance you have for your home. Below is the average homeowners insurance quoted rates for five different levels of coverage.
|Coverage Amount||Average Cost|
|Greater than $500,000||$ 1,588|
Insurance companies will also price policies differently based on where you live. We found Green Bay has the lowest rates in the state with a $634 average annual premium for $100,000-500,000 in coverage. The most expensive area on average is Stevens Point, located along the Wisconsin River, with an average annual premium of $1,398.
|Eau Claire||$ 906|
|Green Bay||$ 634|
|New Berlin||$ 719|
|Pleasant Prairie||$ 1,244|
|Stevens Point||$ 1,398|
|Sun Prairie||$ 1,001|
|West Bend||$ 1,252|
We selected the 20 largest cities in Wisconsin by population where customers have submitted quotes with Policygenius. Quotes are based on a coverage amount between $100,000 and 500,000.
According to the NOAA, the most common natural hazard in Wisconsin is thunder and lightning storms, causing the state $56.6 million in property losses per year. Thunderstorms can be met with wind and hailstorms, so Wisconsin residents should consider purchasing windstorm insurance if their homeowners policy excludes wind and hail damage. In addition to thunderstorms, summer months may also bring tornadoes, with Wisconsin averaging around 23 tornadoes from May to July.
When shopping for homeowners insurance, Wisconsin residents should also keep the state’s snowy winters in mind — especially those located in the Northeastern region of the state, which can see up to 156 inches in snowfall a season. Although homeowners insurance does cover repairs if the weight of snow and ice causes your roof to fall through or damages your foundation, homeowners should try to keep their roofs clear of ice dams and excessive snow.
Due to the risk of blizzards in the winter and severe thunderstorms in the summer, Wisconsin residents should consider purchasing a comprehensive replacement cost policy to ensure their home and personal belongings are fully protected.
The biggest natural hazard in Wisconsin is flooding, which costs the state on average $72.3 million in property losses per year. Homeowners insurance does not cover flooding in Wisconsin or any of the other 49 states. State residents can supplement that gap in coverage by purchasing a flood insurance policy.
Flood insurance can typically be purchased through the same insurance company that insures your home. Most flood policies are sold by private companies but administered by the federal government’s National Flood Insurance Program (NFIP). An NFIP flood policy can cover up to $250,00 for the structure of your home and up to $100,000 for personal belongings.
The Wisconsin Office of the Commissioner of Insurance is a valuable resource both for Wisconsin homeowners purchasing coverage for the first time or for those who are already insured. The OCI website has helpful information about what to prioritize when selecting your coverage, preparing for natural disasters, and buying flood insurance.
Homeowners insurance companies can cancel your insurance for a number of reasons — maybe the insurance company no longer offers coverage where you live, or maybe they determined your home was too risky to insure after a recent inspection.
If you’re struggling to find coverage, you can get last-resort coverage via a Wisconsin Fair Access to Insurance Requirements [FAIR] Plan. The Wisconsin Insurance Plan is a not-for-profit, property insurance association that provides property insurance to people in Wisconsin who are unable to get standard insurance. In order to qualify for a Wisconsin FAIR Plan, homeowners must still meet basic property requirements, like fire and loss prevention as well as basic safety standards.
Not where you live? We've got you covered, check out our guide to homeowners insurance in your state
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