Best Condo Insurance In Wisconsin

The Garden State frequently experiences severe weather like thunderstorms and tornadoes, posing a risk to condos. While Wisconsin doesn’t mandate condo insurance, your lender may require it. This insurance provides financial security by covering losses due to damage or theft.

Additionally, some HOA agreements might necessitate dwelling coverage. To be fully protected, select a policy that includes multiple risk types. If you’re new to this, use this guide to find the best condo insurance in Wisconsin.

How Much Is Condo Insurance In Wisconsin?

In Wisconsin, condo insurance typically runs about $530 per year. State Farm offers the lowest rates, averaging $275 annually. See the table for annual premium comparisons among ten top condo insurance providers.

Average Cost Of Condo Insurance In Wisconsin – By City

Displayed in the table are the average condo insurance premiums in major Wisconsin cities.

Condo Insurance Rates In Wisconsin – By Building Property Limits

Condo insurance isn’t one-size-fits-all—it depends on the cost to rebuild your condominium. Below is a comparison table of average monthly premiums for different coverage limits.

Avoid concentrating solely on finding the cheapest insurance rates; look for a policy that balances cost, coverage, financial stability, and quality customer service.

How To Get An Online Condo Insurance Quote In Wisconsin

To find quality condo insurance in Wisconsin, comparing quotes from multiple insurers is the best approach. Insuranceopedia is a great site to begin your search. To get an accurate quote, you’ll need to provide the following:

• Name
• Condo address
• Year of construction
• Exterior wall construction
• Square footage of the condo
• Estimated rebuilding cost
• Value of personal property
• Number of occupants
• Your claims history
• Installed safety features

Factors That Impact The Cost Of Your Condo Insurance Policy

Condo insurance costs in Wisconsin depend on factors like:

• Rebuild Value: Higher replacement costs equal higher premiums.
• Location Hazards: High-risk areas, like those prone to storms or crime, raise rates.
• Property Age: Older systems increase costs, while modern materials can lower them.
• Claims History: A clean record can earn discounts, while frequent claims may raise premiums.

Most Expensive ZIP Codes For Condo Insurance In Wisconsin

Wisconsin’s 54020 ZIP code sees the highest condo insurance rates, averaging $1,898 each year.

Cheapest ZIP Codes For Condo Insurance In Wisconsin

The annual average for condo insurance in ZIP code 53081 is $1,488, making it the least expensive option.

How Much Condo Insurance Do I Need In Wisconsin?

In Wisconsin, the level of condo insurance required depends on several factors, including your condo’s layout, the value of your personal possessions, and the coverage provided by your condo association’s master insurance policy. It’s worth considering adding loss assessment coverage to your policy to safeguard against expenses related to damages or losses in shared condo spaces.

How To Save Money On Wisconsin Condo Insurance

If you’re aiming for affordable condo insurance in Wisconsin, one simple option is to increase your deductible. While this typically reduces your premiums, keep in mind that you’ll have to pay more out-of-pocket if you file a claim. Another strategy is to weatherproof and secure your condo. Installing storm shutters or security systems can reduce the risk of damage or theft, potentially lowering your insurance costs.

How Much Condo Insurance Is Legally Required In Wisconsin?

Wisconsin doesn’t mandate condo insurance, though many lenders and condo associations do. Most policies include liability coverage with limits starting at $100,000 and reaching up to $500,000.

Compare Condo Insurance Rates To Other States