The home is where the heart is, and you’ll want your home and belongings covered when disaster strikes. Preparing to protect your family from financial burdens can be daunting, so our partners at ConsumerAffairs researched the best homeowners insurance in Milwaukee to guide your purchase.
You’re not required to have homeowners insurance in Milwaukee, but many financial institutions require you to obtain a policy if you have a mortgage. Even if you’re not required to carry homeowners insurance, it is a smart investment to cover you in the event of natural disasters or theft.
You should determine the amount of homeowners insurance coverage you need based on the cost of replacing your home and all attached structures. This figure is known as your dwelling coverage, and you can decide how much coverage you want for your home. A higher dwelling coverage limit will increase the amount you pay for your homeowners insurance.
Compared to the national average, homeowners insurance in Milwaukee is very affordable. Home insurance in Milwaukee for $200,000 in dwelling coverage with a $1,000 deductible and $100,000 in liability coverage ranges from $700 to $900 a year. The cost can be even lower in the outer suburbs. The national average is $1,228 a year, making Brew City much more affordable than most of the country.
Average annual home insurance rates in Milwaukee
Popular residential neighborhood name
Dwelling coverage of $200,000
Dwelling coverage of $400,000
Dwelling coverage of $600,000
Bay View (53207)
Brown Deer (53209)
New Berlin (53151)
Note: Based on dwelling coverage above with a constant $1,000 deductible and $100,000 liability.
In addition to covering structural damage to your home, homeowners insurance covers your belongings and provides liability insurance to pay for the medical expenses of anyone injured in your home and protects you from resulting lawsuits. The limit for property coverage is generally 50 to 70 percent of the dwelling coverage, so you’ll want to talk to your insurance provider about increasing your property coverage if you own valuable jewelry, paintings or similar precious items.
Many companies in Milwaukee offer discounts on your homeowners insurance policy, including taking actions to keep your home safe or replacing your roof. You can often get additional discounts by being claims-free for an extended period or bundling your homeowners insurance with other types of insurance from the same company.
While nearly all homeowners insurance policies in Milwaukee cover incidents such as fire, theft or damage caused by the weight of snow or sleet, it’s important to know what isn’t covered so you can arrange for additional policies if needed. Incidents generally not covered by homeowners insurance include:
Flood and water damage
Damage caused by earthquakes
Loss of animals
Damage from power failure
Check your coverage and ask your provider questions to be clear about what is and isn’t covered in your policy. If you need protection against something typically excluded from homeowners insurance, ask your provider about purchasing a separate policy that would provide coverage.
Progressive is a nationwide insurance company that has been in business since 1937. Progressive offers free quotes for homeowners insurance and has various discounts for purchasing a new home, obtaining a quote in advance and paying your policy in full. Milwaukee customers say they appreciate the company’s excellent customer service.
GEICO provides many different packages for covering your home and offers many discounts on its policies, including savings if you bundle different insurance policies. Many residents in Milwaukee appreciate GEICO’s reasonable rates and would recommend the company, but other people have noted that customer service can sometimes be indifferent.
State Farm offers many insurance packages, allowing you to bundle your homeowners insurance with other policies. State Farm offers various discounts, including a home alert discount when you install fire alarms and other home monitoring systems. Many Milwaukee residents say the company is reliable, but some have noted incidents of their insurance being canceled after claims are paid.
Schwade Insurance Agency
Schwade Insurance Agency, Inc. has been serving Milwaukee since 1975. This full-service, independent insurance agency practices the best possible customer service and has competitive pricing. Schwade Insurance offers free quotes, and customers in Milwaukee praise the company’s employees for carefully explaining insurance options.
West Bend Mutual
West Bend Mutual is an A+ accredited business by the Better Business Bureau. This insurance company serves Milwaukee residents and offers coverage such as pet aid, jewelry coverage, sump pump overflow and inflation guard. Customers in Milwaukee appreciate the company’s quick response times.