6 Best Homeowners Insurance Companies in Wisconsin of 2023
Owning a home is what many people imagine when they think of success and the American dream.
Homeowners in Wisconsin need to protect themselves by buying homeowners insurance that protects them from the state’s extreme weather and natural disasters such as floods.
Whether you own a home in a big city like Green Bay or Milwaukee or in a small town like River Falls or Whitefish Bay, buying homeowners insurance provides peace of mind that your home will be protected.
At PropertyNest, we believe that homeowners in Badger State deserve a stress-free buying experience, which is why we’ve taken the time to research and choose the best homeowners insurance companies in Wisconsin.
As you read, keep in mind that the average cost of homeowners insurance in Wisconsin is about $930 per year, which works out to $77 per month.
Compare Homeowners Insurance Rates in WI
Best Homeowners Insurance Companies in Wisconsin
- Erie: Best for Affordable Homeowners Insurance
- Travelers: Best for Unique Policy Endorsements
- State Farm: Best for Customer Service
- Amica: Best for Home Business Owners
- American Family: Best Mobile App
- Auto Owners: Best for Discounts
Erie: Best for Affordable Homeowners Insurance
- Available in 12 states & Washington, D.C.
- Quote access: By phone only
Erie Insurance started in Erie, Pennsylvania, in 1925, when the only product offered was automobile insurance.
Since then, the company has grown to offer an array of coverages, including homeowners insurance.
We selected Erie for our list because they have the lowest average price for Wisconsin homeowners.
We also like that they offer pet coverage as part of their standard policy and cover the replacement cost of belongings.
The average cost of a homeowners insurance policy with Erie in the state of Wisconsin is just $760 per year or $63 per month, significantly lower than the state average.
We always like to look at the pros and cons of any insurance company we recommend, so here are the things you should consider before choosing Erie as your homeowners insurance company.
| J.D. Power (out of 1,000) | 835 |
|---|---|
| A.M. Best - Financial Strength Rating | A+ |
| BBB | A+ |
| NAIC Complaint Index | 0.65 (Average) |
Travelers: Best for Unique Policy Endorsements
Travelers Insurance is the oldest insurer on our list, having issued its first insurance policy 165 years ago.
The company is highly rated for its financial strength and stability and offers an array of attractive discounts to make homeowners insurance affordable.
We chose it for our list because they have some unique coverage add-ons that are of interest to anybody interested in sustainable building and green living.
The average cost of Wisconsin homeowners insurance with Travelers is $830 per year, putting it below the state average.
Now, let’s examine the pros and cons of choosing Travelers as your homeowners insurance carrier.
| J.D. Power (out of 1,000) | 794 |
|---|---|
| A.M. Best - Financial Strength Rating | A++ |
| BBB | A |
| NAIC Complaint Index | 3.88 |
State Farm: Best for Customer Service
State Farm’s centennial year because it got its start back in 1922 and is one of the most highly-regarded insurers in the country.
State Farm offers tiered protection that’s ideal for people with high-value homes who may need more protection than the standard policy offers.
We selected them for our list because they have the best customer service for Wisconsin homeowners, with high ratings across the board.
We appreciate, too, that State Farm has strong values that govern the way it does business, typified by their familiar “Good Neighbor” commercials.
The average cost of a Wisconsin homeowners policy with State Farm is $830, putting it well below the state average.
Remember that you will pay more if you have a high-value home and purchase additional coverage to protect yourself.
Here are some pros and cons of State Farm for you to consider.
Read a full State Farm homeowners insurance review.
| J.D. Power (out of 1,000) | 829 |
|---|---|
| A.M. Best - Financial Strength Rating | A++ |
| BBB | A+ |
| NAIC Complaint Index | 1.77 |
Amica: Best for Home Business Owners
- Available in 48 states & Washington, D.C.
- Quote access: Online & by phone
Amica Insurance has been providing coverage for over 100 years and is a well-respected company.
It has a well-reviewed mobile app and is the only company on our list to pay dividends to policyholders.
We chose it for our list because Amica has add-ons to protect computers and home businesses, something that is likely to appeal to self-employed Wisconsin residents.
Now, let’s review the pros and cons of Amica to help you decide if they’re the right company for you.
The average cost of Amica’s homeowners insurance in Wisconsin is $95 per month, which puts it slightly above the state average, but you can save by layering two or more discounts.
| J.D. Power (out of 1,000) | 849 |
|---|---|
| A.M. Best - Financial Strength Rating | A+ |
| BBB | A+ |
| NAIC Complaint Index | 0.32 |
American Family: Best Mobile App
American Family Insurance is a company that provides homeowners insurance in 44 states, including Wisconsin.
They offer several coverage add-ons that may be of particular interest to Wisconsin homeowners, but we chose them for our list because they have the best mobile app, which makes it easy to view your insurance card, compare coverage, and file claims.
We should note that if you want to customize a quote, you’ll need to do so through a designated American Family agent.
The average cost of an American Family homeowners policy in Wisconsin is $895 per month, which is just slightly below the Wisconsin state average.
Here are the most important pros and cons for you to consider before choosing American Family as your homeowners insurance company.
| J.D. Power (out of 1,000) | 842 |
|---|---|
| A.M. Best - Financial Strength Rating | A+ |
| BBB | A+ |
| NAIC Complaint Index | 0.25 |
Auto Owners: Best for Discounts
Auto-Owners Insurance Company is based in nearby Michigan and receives top scores for customer service.
They have a user-friendly website and mobile app and offer stellar personal service through their network of agents.
We chose them for our list because they have nine homeowners insurance discounts, making saving money easy.
The average cost of Auto-Owners homeowners insurance in Wisconsin is $1,085 per year or $95 per month, which is slightly above the state average.
Here’s a look at the pros and cons of Auto-Owners Insurance.
| J.D. Power (out of 1,000) | 874 |
|---|---|
| A.M. Best - Financial Strength Rating | A++ |
| BBB | A+ |
How We Selected the Best Homeowners Insurance Companies in Wisconsin
We want the process of buying homeowners insurance to be as stress-free and intuitive as possible for all Wisconsin homeowners.
We used five criteria to choose the companies for our list, as follows.
Costs
Cost is a big factor for most homeowners, especially when inflation is high and most of us are trying to save money.
We chose companies whose average cost in Wisconsin was close to or below the state average to ensure that our readers have plenty of choices.
Discounts
It’s easy for homeowners to save on their insurance premiums when carriers offer an array of discounts to help them reduce their costs.
We prioritized those companies that offered three or more discounts, with special emphasis on those that provide discounts that most Wisconsin homeowners can take advantage of, such as autopay and paperless billing discounts.
Customer Service
We always think customer service should be a priority because we know how stressful it can be to file a claim or get assistance when you need it.
The companies we chose for our list all have solid customer service ratings and robust support options, including phone, internet, and mobile support.
Coverage
Most people need more than a boilerplate policy because no two homes are the same, making it important to find companies that offer riders and add-ons to customize coverage.
We selected companies with a broad array of coverage options, including coverage for water leaks, appliance failure, and home business protection.
Technology
Today’s homeowners often prefer the convenience of online and mobile services, particularly if they need support or file a claim.
Every company we choose has robust technology, including mobile apps and user-friendly websites, to make it easy to get the help you need.
What Factors Impact the Cost of Homeowners Insurance in Wisconsin?
The average cost of homeowners insurance in Wisconsin is a useful benchmark, but you should know that there are multiple factors that will impact your cost as you shop for homeowners insurance.
Coverage Limits
We believe that every homeowner should have enough coverage to rebuild their home from the ground up in the event that it’s destroyed completely.
If you own an expensive home or add extra coverage, then your premium will likely be higher than the state average.
Deductible
You’ll have a choice to make regarding your homeowners insurance deductible.
If you choose a low deductible, your premium will be higher than it would if you opted for a high deductible policy.
Policy Endorsements
A standard homeowners insurance policy provides only basic coverage for your structures and belongings.
If you choose to add policy endorsements to protect your home business, increase your personal liability protection, or insure high-value items, your premium will go up.
Location
In some locations, homeowners insurance costs more than in others.
For example, if you live near a river or lake or your home is in a rural area far from the local firehouse, your premium may be higher than the state average.
Another location factor that may impact your costs is living in a city or a high-crime area.
How Much Homeowners Insurance Do You Need?
If you’re a new homeowner or simply wondering whether you’ve got adequate protection, you may be wondering how much homeowners insurance you should purchase.
The easiest way to figure it out is to use the value of your home as a starting point.
- Dwelling coverage. Most of your coverage is there to protect your home and all attached structures, such as garages; you’ll need a limit high enough to allow you to rebuild your home completely.
- Other structures coverage. Other structures may include outbuildings, sheds, and fences; you’ll need about 10% of your dwelling limit to be safe.
- Personal property coverage. Your personal property coverage protects your personal belongings if they are damaged, destroyed or stolen; you’ll need between 50% and 70% of your dwelling limit.
- Liability coverage. Your liability coverage protects you if a guest is injured in your home. As a rule, you’ll need between $100,000 and $500,000 to be safe.
- Medical payments coverage. Your homeowners policy will cover some of the medical expenses if a guest is injured in your home; most homeowners limit coverage to between $1,000 and $5,000.
- Additional living expenses coverage. Additional living expenses coverage will protect you and pay the costs if you and your family must evacuate your home for repairs or construction; you’ll need about 20% of your dwelling coverage.
All in all, you will need about two times the cost to rebuild your home, not counting your coverage for personal liability and guest medical expenses.
You should remember that your total limit may need to be higher if you schedule high-value items such as artwork and jewelry or add multiple riders to your policy.
What Is and Isn’t Covered by Homeowners Insurance
Homeowners insurance provides peace of mind to homeowners, but it doesn’t cover everything, which is why it’s important to understand what your coverage does and doesn’t do.
Here are the things that are covered by most homeowners insurance policies.
- All of the structures on your property, including your home and detached garages, fences, sheds, barns, or other buildings.
- All personal belongings, with coverage whether they are damaged, destroyed, or stolen, and whether they are on your property or not.
- Damage to your property caused by a covered event; examples of covered events include house fires, storm damage, and vandalism.
- Your personal liability in the event that a guest to your home is hurt or their belongings are destroyed or damaged.
- Medical expenses for guests in your home if they sustain injuries.
You should be aware that all coverages are subject to your policy limits and deductible.
Here are some things that are not covered by homeowners insurance.
- Earthquake damage
- Flood damage
- Government action
- Neglect
- Nuclear hazard
- Pest damage or infestation
- Power failure
Many of these exclusions may be remedied by purchasing additional insurance or adding a rider to your policy; for example, flood insurance may be purchased through FEMA, and some carriers will add flood insurance through FEMA as an add-on.
The three things that may not be remedied are neglect, nuclear hazard, and government action.
Neglect is something that is within your control, and the other two exclusions are unlikely to be an issue.
Synopsis
At PropertyNest, we want every homeowner in the Badger State to have the insurance they need to provide peace of mind if something should happen to their home or belongings.
As you consider your options, remember that multiple factors can impact your cost, including the value of your home, its location, and the coverage options you choose.
We recommend obtaining a minimum of three quotes to compare costs and coverage, making sure to ask about available discounts before you buy.
