Find the Best Homeowners Insurance in Milwaukee, WI

How to choose homeowners insurance in Milwaukee

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

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
• Automobile damage
• 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.