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Wisconsin homeowners insurance rates are well below the national average, but many residents still wind up paying $1,000 or more annually for their coverage. Fortunately, it's possible to score a much lower rate by working with the best Wisconsin home insurance providers. Here's a closer look at which companies offer the cheapest rates for several common scenarios.
The typical Wisconsin homeowner pays about $992 per year for their policy. But those who go with West Bend only pay about $594 on average.
These companies also make the list of the cheapest homeowners insurance in Wisconsin:
Farmers offers some of the best deals on new construction. Its average annual premium of $347 is nearly half the state average of $623 for these homes.
Those who own new homes can also score great rates with these companies:
Farmers also offers some of the best deals for older homeowners. It only charges about $649 to insure a 50-year-old home in Wisconsin whereas the state average is about $990 for these houses.
These companies also offer some of the best homeowners insurance in Wisconsin for older homes:
West Bend is the most affordable option for homeowners who have previously filed a claim. While the average Wisconsin homeowner with one previous claim pays about $1,098 per year, West Bend's customers only pay about $670 annually.
These companies also offer affordable Wisconsin home insurance rates to those with a claims history:
Wisconsin homeowners insurance premiums are well below the national average in every category, as outlined in the table below. But it's important to remember that rates can vary a lot depending on the home's location within the state as well as its size and construction.
Average Rate Category | Wisconsin | National Average |
---|---|---|
Overall | $992 | $1,787 |
New home construction | $623 | $984 |
Older homes | $990 | $1,755 |
When making a claim | $1,098 | $1,971 |
Here are a few things all Wisconsin homeowners should know when shopping for a policy:
Wisconsinites who live in the eastern part of the state, north of Milwaukee, have some of the lowest annual homeowners insurance premiums in the state. By contrast, those who live in the western part of the state, especially in the area a little north of Minneapolis, have some of the highest average annual homeowners insurance premiums. So the rates that homeowners in these areas pay could be quite different from the averages listed above.
One reason that Wisconsin has such affordable home insurance rates compared to the national average could be the lower average cost of its homes. The typical Wisconsin home only costs about $266,750, according to The Ascent's research on average home price by state, while the national average is $354,649.
Larger homes are typically more expensive to insure, especially if they're made with a lot of high-end materials. So Wisconsin homeowners with more expensive properties should expect to pay more than the averages listed above. By contrast, those with cheaper homes may pay less for their homeowners insurance.
Here's a look at some of the most common homeowners insurance claims in Wisconsin:
Floods occur in every state, and they're especially common in low-lying areas. Wisconsin has a lot of lakes and sees a lot of snowfall in the winter. When all of this melts, it can trigger floods. Heavy rains in summer can also lead to flood damage.
Unfortunately, this isn't covered by a typical homeowners insurance policy. Those who want protection against floods will have to invest in a separate flood insurance policy. Some mortgage lenders may require this if the home is located in an area that has experienced flooding before.
Though not directly in Tornado Alley, Wisconsin isn't too far off. It's been known to experience tornadoes and high winds, which can bring trees down on homes or take shingles off of roofs. These claims can be pretty costly, which is why many insurers now require homeowners to pay a separate wind/hail deductible when filing one of these claims.
Like most of the northern half of the country, Wisconsin sees a lot of snow in the winter. This can lead to problems like burst pipes or roofs collapsing. Homeowners can take steps to mitigate these risks, but having adequate insurance is key to fully protect the home.
Here's a look at which homeowners insurance discounts give residents the biggest bang for their buck in Wisconsin.
Bundling reduced the cost of the average annual Wisconsin homeowners insurance premium to $825. No other single discount saves homeowners even close to this much. So those hoping to insure their vehicles as well are better off doing so with the same company they insure their home through.
Homeowners can spend thousands of dollars on a new roof, but they'll recoup some of these costs in the form of lower home insurance premiums. Those who have recently replaced their roof pay about $871 per year on average. That's over $100 less than the state average for a typical Wisconsin home.
Wisconsin homeowners can earn discounts for having smoke alarms, monitored fire alarms, and having a fire extinguisher in their homes. But the biggest fire prevention discount is reserved for those who install sprinklers. This drops the average annual Wisconsin home insurance premium to $917.
It's worth noting that not all home insurance companies offer all of these discounts. So homeowners considering installing sprinklers should seek out a provider who will reward them for this.
The following six cities have the lowest average annual homeowners insurance premiums in Wisconsin.
City Name | Average Home Insurance Rate |
---|---|
Sheboygan | $827 |
Sheboygan Falls | $840 |
Kohler | $846 |
Cedar Grove | $853 |
Oostburg | $854 |
Plymouth | $854 |
Homeowners in these five Wisconsin cities pay the most for their coverage:
City Name | Average Home Insurance Rate |
---|---|
Osceola | $1,199 |
Clayton | $1,179 |
Dresser | $1,173 |
Amery | $1,173 |
St. Croix Falls | $1,172 |
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
The data found on this page is a combination of publicly available quote data obtained directly from the carrier as well as insurance rate data from Quadrant Information Services. These rates were publicly sourced from the top ten (10) to fifteen (15) carrier markets, within each state, based on annual written premium and should be used for comparative purposes only -- your own quotes may be different.