Best homeowners insurance in Milwaukee

The average homeowners insurance rate in Milwaukee is $1,143. Read on for our guide to the best companies, policy cost, and coverage considerations in the Milwaukee area.

Pat Howard 1600

Pat Howard

Published March 19, 2020

KEY TAKEAWAYS

  • The highest-rated home insurance company in Milwaukee is USAA

  • The average annual premium for a home in Milwaukee is $1,143

  • Milwaukee residents should ensure their homes are protected against extreme winter storms and freezing temperatures

Homeowners insurance is a type of financial protection that covers your home, personal property, and additional living expenses in the event your home is damaged or burglarized. It also covers medical payments and legal expenses if you or a member of your household are liable for bodily injury or damage to someone’s property. If you’re one of 42% of Milwaukeeans who owns a home rather than rents, you’ll want to make sure that your dwelling is adequately insured against bad weather and theft.

The Brew City is no stranger to big snowstorms and frigid temperatures — it receives around 47” of snow annually, making it the 7th snowiest large U.S. city; and its coldest month, January, has an average high of just 28.9 degrees. Homeowners insurance does typically cover hazards like “weight of snow” and burst pipes due to freezing temperatures. But you’ll want to make sure your policy is comprehensive enough to reimburse you for damaged property at its replacement cost and that your insurer has an efficient, transparent, and effective claims process.

IN THIS ARTICLE

Best homeowners insurance companies in Milwaukee

When selecting a homeowners insurance policy, you’ll want to look at far more than simply the cost of coverage. Consider the insurer’s financial standing with credit agencies like A.M. Best, customer service and claims ratings with J.D. Power, and the price for the level of coverage you’re getting, amongst other factors. Companies that offer enhanced home rebuild protection like extended replacement or guaranteed replacement cost will offer more peace of mind for homeowners than a company that only has standard replacement cost coverage provisions.

The table below looks at the 10 most popular insurers (companies with the highest market share) in Wisconsin, along with respective A.M. Best ratings, J.D. Power ratings, and Policygenius full-scale company ratings. Here’s more information about the Policygenius home insurance reviews methodology.

CompanyA.M. Best RatingJ.D. Power ScorePolicygenius rating
American FamilyA3/5N/A
State FarmA++4/58
AcuityA+N/A8
ErieA+5/5N/A
West Bend MutualAN/AN/A
AllstateA+3/57.4
Auto-Owners InsuranceA++4/5N/A
SafecoA+2/57.3
FarmersA3/57.5
USAAA++5/58.7

Be sure to check out our guide on the best homeowners insurance companies in the country

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Average homeowners insurance rates in Milwaukee

The average annual cost of homeowners insurance in Milwaukee is $1,143, according to Policygenius quotes. That makes rates in Milwaukee higher than the statewide average of $779 (per the Insurance Information Institute), but keep in mind that home rebuild costs — specifically labor and construction materials — generally cost more in population-dense areas where the housing demand is higher.

As you can see, the cheapest area to insure your home is the Bay View and Jackson Park neighborhoods, while Lincoln Park has the highest rates, according to our quotes.

Neighborhood (ZIP code)Average annual premium
Historic Mitchell Street (53204)$744
North Division (53206)$1,454
Bay View (53207)$775
Lincoln Park (53209)$1,704
Enderis Park (53210)$1,162
Murray Hill (53211)$1,027
Riverwest (53212)$1,188
Grasslyn Manor (53216)$1,346
Jackson Park (53219)$781
Woodland Park (53220)$1,556
Kops Park (53222)$955
Arlington Gardens (53225)$1,511
Morgan Heights (53228)$1,047

Milwaukee homeowners insurance guide

Milwaukee may not be the first place that comes to mind when you think of extreme weather and natural disasters, but Wisconsin does experience the occasional tornado and frequent snowstorms during the winter months. Six of the 15 most severe winter storms in the U.S. occurred in Wisconsin in 2018, according to the Insurance Information Institute. Additionally, being a coastal city on Lake Michigan, Milwaukee is extremely cold in the months of January and February, causing everything from freezing pipes to power outages.

Milwaukee residents can protect their households from these common perils with additional policy coverages like replacement cost contents coverage to ensure you’re fully reimbursed in the event a burst pipe ruins your personal belongings.

Insurance companies can also be finicky when it comes to covering the roof over your head, especially in winter climates where roof ice dams and snow accumulation are common. Replacing a roof can be expensive and sometimes unnecessary, but your insurer may only agree to cover your aging roof at it’s depreciated value unless you have additional replacement cost coverage. If your roof is only covered at its replacement cost, talk to your insurer and see if they offer something like a roof replacement endorsement.

Lastly, if you don’t have any, consider fortifying your home with deadbolts or other forms of risk prevention like centralized fire or burglar alarms. Not only will adding these to your home make you safer and prevent storm damage or theft loss, but your insurance company may also give you a generous discount on your insurance premiums.

Is homeowners insurance required in Milwaukee?

Homeowners insurance is not required by law in Milwaukee, but most mortgage lenders will require that you get homeowners insurance and maintain coverage throughout the duration of the mortgage.

Homeowners insurance resources for Milwaukee residents

About the author

Insurance Expert

Pat Howard

Insurance Expert

Pat Howard is an Insurance Editor at Policygenius in New York City, specializing in homeowners insurance. He has been featured on Property Casualty 360, MSN, and more. Pat has a B.A. in journalism from Michigan State University.

Policygenius’ editorial content is not written by an insurance agent. It’s intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.

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