Best & Cheapest Homeowners Insurance in Madison, WI For May, 2024
Allstate provides the most affordable home insurance for homeowners in Madison with an average annual premium of $972.
After a thorough review of home insurance providers in Madison, Wisconsin, we have found that Allstate is the most cost-effective option, with an average annual premium of $972. However, it’s important to note that the best insurer for you can vary depending on your specific circumstances and needs.
For example, if your credit score is lower, Auto-Owners offers the most affordable choice, with an average yearly premium of $1,354. On the other hand, for owners of older homes, State Farm provides competitive rates at $1,508 annually, along with comprehensive coverage.
Similarly, for owners of newly constructed homes, Allstate emerges as the most economical option, with a charge of $685 per year. For individuals with a history of claims, State Farm offers an affordable solution at $1,655 annually, while also being empathetic to your situation.
Furthermore, if you have valuable personal property requiring protection, Allstate remains the recommended choice, providing extensive coverage at a reasonable rate of $1,012 per year.
Our comprehensive analysis at Insuranceopedia is designed to help you find the perfect match for your home insurance needs. We assess customer ratings, review personal experiences, and offer comparison charts to provide you with all the necessary information to make a well-informed decision.
How much is homeowners insurance in Madison, WI?
Allstate provides the most budget-friendly homeowners insurance rate in Madison, with an annual cost of $972.
As mentioned below, insurance rates in Madison are lower than both the national average and the average rates for the state of Wisconsin.
| Area | Average Monthly Rate |
| National | $1,820 |
| Wisconsin | $1,267 |
| Madison | $1,126 |
Understanding that insurance rates are not standardized is crucial because they can vary significantly based on various factors.
Cheapest Homeowners Insurance in Madison, WI 2024
Our Methodology
In our quest to find the most budget-friendly home insurance rates in Madison, we analyzed data from multiple home insurance review platforms. These platforms collected rates from public filings obtained through Quadrant Information Services, and we computed an average of these rates for our assessment. However, it's crucial to note that rates from each company can fluctuate regularly and may differ based on your unique circumstances. Additionally, our overall rating incorporates my subjective evaluation. This assessment draws from my fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.
Quotes Analyzed
Years Of Industry Experience
Brands Reviewed
Research Hours
Cheapest homeowners insurance in Madison, WI
Allstate is the top choice for affordable homeowners insurance in Madison, Wisconsin, offering an average annual rate of $972.
| Company | Annual Premium |
| Allstate | $972 |
| Chubb | $1,178 |
| State Farm | $1,206 |
| Auto-Owners | $1,353 |
| Farmers | $1,542 |
Your insurance premium is affected by various factors, such as your location, home value, and claims history. Allstate provides a well-rounded mix of affordability and comprehensive coverage options.
Cheapest Homeowners Insurance In Madison If You Have an Older Home
If you have an older home, State Farm provides the most cost-effective rates, averaging $1,508 per year.
| Insurance Company | Average Annual Premium |
| State Farm | $1,508 |
| Farmers | $1,675 |
| Allstate | $1,879 |
| USAA | $2,001 |
| Auto-Owners | $2,268 |
Older homes often present unique risks and maintenance challenges that can result in higher insurance costs. However, State Farm offers competitive rates and comprehensive coverage specifically tailored to address the needs associated with older homes.
Cheapest Homeowners Insurance If You Have Poor Credit
Auto-Owners provides the most affordable option for individuals with poor credit scores, offering an average annual rate of $1,354.
| Insurance Company | Average Annual Premium |
| Auto-Owners | $1,354 |
| Allstate | $1,760 |
| Chubb | $2,421 |
| State Farm | $2,682 |
| USAA | $2,840 |
Your credit score plays a significant role in determining your insurance rates, as insurers use it to assess risk. Auto-Owners recognizes the importance of providing equitable coverage to all individuals, regardless of their financial situation.
Cheapest Homeowners Insurance for Newly Constructed Homes
If you’ve recently purchased a newly constructed home, Allstate provides the most affordable option, with an average annual rate of $685.
| Insurance Company | Average Annual Premium |
| Allstate | $685 |
| USAA | $820 |
| State Farm | $897 |
| Auto-Owners | $1,008 |
| Farmers | $1,284 |
Newly constructed homes often demand unique coverage compared to older properties, and Allstate stands out in offering affordable policies customized to meet these specific requirements.
Cheapest Home Insurance Rates for Lots of Personal Property
| Insurance Company | Average Annual Premium |
| Allstate | $1,012 |
| State Farm | $1,231 |
| Chubb | $1,462 |
| Farmers | $1,506 |
| Auto-Owners | $1,680 |
As your personal property expands, your coverage needs also grow, potentially leading to higher premiums. However, Allstate offers comprehensive coverage at fair rates, ensuring that all your belongings are adequately protected.
Cheapest Home Insurance In Madison for a History of Claims
| Insurance Company | Average Annual Premium |
| State Farm | $1,655 |
| USAA | $1,689 |
| Allstate | $1,989 |
| American Family | $2,254 |
| AAA | $4,376 |
Having a history of claims can signal increased risk for insurers, typically resulting in higher premiums. However, State Farm believes in giving second chances and provides reasonable rates for individuals with past claims.
Best Homeowners Insurance Companies in Madison, WI
Selecting the right home insurance isn’t just a necessity; it’s a strategic decision. Madison’s homes are diverse, reflecting the diversity of its residents. Therefore, finding an insurance provider that offers comprehensive coverage at competitive rates is crucial.
To streamline your decision-making process, we’ve gathered a list of the top home insurance companies in Madison, Wisconsin. These companies were assessed based on their annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Explore our comparison chart below to discover the ideal fit for your home insurance requirements.
| Company | Annual Premium |
| Allstate | $972 |
| Chubb | $1,178 |
| State Farm | $1,206 |
| Travelers | $998 |
| Erie | $569 |
| American Family | $1,320 |
| Auto-Owners | $1,353 |
| Farmers | $1,542 |
Average Home Insurance Rates by Zip Codes
The price of home insurance in Madison, Wisconsin, can differ significantly depending on the zip code. Below are tables displaying rates for various zip codes, including the least and most expensive ones for yearly premiums.
| ZIP Code | Average Insurance Premium (Annual) |
| 53704 | $1,006 |
| 53716 | $1,004 |
| 53714 | $1,010 |
| 53726 | $1,055 |
| 53792 | $1,058 |
| 53706 | $1,052 |
Cheapest Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 53704 | $1,006 |
| 53716 | $1,004 |
| 53714 | $1,010 |
Most Expensive Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 53726 | $1,055 |
| 53792 | $1,058 |
| 53706 | $1,052 |
Average Home Insurance Rates in Madison, WI by Deductible Amount
The deductible amount you select for your homeowners insurance policy has a significant impact on premium rates in Madison, WI. Here’s how average home insurance rates vary based on different deductible amounts:
| Deductible | Annual Rate |
| $500 | $930 |
| $1,000 | $861 |
| $1,500 | $820 |
| $2,000 | $770 |
| $5,000 | $676 |
Average Home Insurance Rates in Madison, WI By Coverage Amount
The dwelling coverage amount is a crucial factor influencing your premium, representing the maximum sum your insurance company will pay to rebuild or repair your home in case of damage or destruction.
Here’s a comparison chart illustrating the average annual homeowners insurance premiums for various dwelling coverage amounts.
| Dwelling Coverage Amount | Average Annual Premium |
| $200,000 | $770 |
| $250,000 | $864 |
| $300,000 | $1,045 |
| $350,000 | $1,167 |
| $400,000 | $1,280 |
Average Home Insurance Rates in Madison, WI by Company
Here’s a comparison of annual premiums from some of the leading insurance companies in Madison.
| Company | Annual Premium |
| Allstate | $972 |
| Chubb | $1,178 |
| State Farm | $1,206 |
| Travelers | $998 |
| Erie | $569 |
| American Family | $1,320 |
| Auto-Owners | $1,353 |
| Farmers | $1,542 |
How Much is Homeowners Insurance for Other Cities in Wisconsin?
Here’s a detailed comparison chart displaying the most budget-friendly insurance companies and their annual premiums across different cities in Wisconsin.
| City | Annual Premium |
| Appleton | $1,068 |
| Green Bay | $1,035 |
| Milwaukee | $1,267 |
| Kenosha | $1,098 |
Getting Online Homeowners Insurance Quotes in Wisconsin
Platforms such as Insuranceopedia make it easy to find customized coverage that meets your requirements with minimal effort. By offering fast online quotes from reputable insurers, Insuranceopedia enables you to compare rates effortlessly.
Simply enter your information, and we’ll handle the rest by providing a variety of options tailored to your needs. This allows you to confidently select a policy that offers excellent value, balancing cost and comprehensive coverage effectively.
FAQs
Who has the cheapest home insurance in Madison, WI?
Allstate offers the most affordable homeowners insurance in Madison, Wisconsin, with an annual premium of $972.
What is the average cost of home insurance in Madison, WI?
On average, homeowners insurance in Madison, Wisconsin, costs around $1,126 per year.
