Find the Best Renters Insurance in Milwaukee, WI

How to choose rental insurance in Milwaukee

It is a common myth that your landlord will pay for your losses if something happens to your rental home. While your landlord is responsible for repairing any damage to your home’s structure, their insurance will not cover your belongings.

Who needs renters insurance in Milwaukee?

Here in Milwaukee, over 40 percent of residents are renters, and renters under the age of 30 make up over half the total renters in America. College students and young professionals are especially vulnerable without renters insurance because so many of them rent their homes and don’t have the means to replace their belongings on their own.

Milwaukee also has much higher rates of theft and burglary than the rest of the country. Even though neighborhoods like Shorewood and Wauwatosa have lower crime rates, they’re near areas that are prone to crime.

What does renters insurance in Milwaukee cover?

The good news is a renters insurance policy will protect you from financial fallout after covered events, including fires, smoke damage, thefts, vandalism, explosions, hail and damage from snow or ice. So, if a fire destroyed all of your personal property, renters insurance would help you pay for replacements.

It’s worth mentioning that renters insurance does not typically cover your car or natural disasters, such as earthquakes and flooding, or damage done by pests.

Some additional coverage in your policy might include:

• Personal liability against others’ accidental injury or property damage; usually a minimum of $25,000
• Living expenses such as hotel rooms and meals if you’re unable to stay in your home
• Identity theft if a thief steals your credit card or checkbook

How much does renters insurance in Milwaukee cost?

Another common myth about renters insurance is that it’s expensive. A basic coverage policy only costs around $10-15 a month in Wisconsin. Your ZIP code and the amount of coverage you need typically determine your premium.

You can increase basic coverage limits, and if you have high-value items like art or jewelry, you may need additional coverage or standalone policies to fully cover your property.

Many renters insurance companies will offer discounts for bundling your policies, installing security and fire safety devices or even having electronic billing.