Green Bay is the third largest city in Wisconsin. The cost of living in this city is 9.6 percent lower than the national average, and the unemployment rate is very low at about 6.2 percent. With its solid school system, many cultural offerings and four distinct seasons, it is little wonder that so many people are happy to call Green Bay home. If you have recently purchased a house in this great Midwestern city, you will want to be sure to protect your investment with a comprehensive Green Bay, WI homeowners insurance policy.
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Cost of Homeowners Insurance in Wisconsin
- National yearly premium average: $1,034
- Wisconsin yearly premium average: $631
- 48th most expensive premium in the US
Your specific premiums may be higher or lower, depending on various factors, such as location, property value, claims history and more.
What Does Green Bay Homeowners Insurance Cover?
Homeowners insurance policies can vary according to the company you choose and the coverage options you purchase. With most policies, however, you can expect to receive compensation for loss or damage to your personal property and to the structure of your home, including outlying structures such as sheds and fences. Your homeowners insurance will also provide personal liability coverage if someone sustains an injury while on your property or if someone sues you for libel or slander.
If you own any very expensive items such as artwork, antiques or heirlooms, you may need to purchase additional endorsements, or riders, in order to ensure that those items are fully covered. Some insurance companies may also require you to purchase additional riders for coverage against certain perils such as hail or wind damage.
Floods are a risk faced by many Green Bay residents, and your homeowners insurance will not cover any damage that results from flooding. For this, you will need to purchase a flood insurance policy through the National Flood Insurance Program (NFIP). A Trusted Choice® network representative can help you secure a flood insurance policy as well.
Basic Homeowners Insurance Coverage Options
As a homeowner, you want to ensure that you have at least the following homeowners insurance coverage options:
- Building property coverage: This coverage pays to repair the structure of your home and other structures like garages and fences after a disaster.
- Home contents coverage: This coverage pays to replace your stolen or damaged clothes, furniture and electronics.
- Liability insurance: This coverage pays medical expenses and court costs for bodily injury and property damage claims if you are at fault or someone sues you due to injury or property damage while on your premises.
- Relocation assistance or "loss of use": This coverage provides temporary lodging if the home is rendered uninhabitable because of a covered incident.
Theft in Wisconsin
- National average for burglaries: 37,814
- Wisconsin number of burglaries: 24,347
The type of theft that most affects homeowners is burglary, and the number of burglaries in Wisconsin is lower than the average across all states.
In the event that criminals target your home, contact the police right away and be sure to get a copy of the police report. Afterward, contact your insurance agent or call your insurance company directly to report the crime. Your homeowners policy will provide compensation for your lost property as well as for any damage done to your home during the course of the robbery.
What Are Green Bay’s Biggest Weather Risks?
Weather can play a key role in causing the destruction of homes and possessions. As a Green Bay resident, you are relatively safe from destructive natural disasters that can lead to substantial property damage to your home.
Number of Catastrophes in Wisconsin and the US
- National number of catastrophes: 19,033
- Number of catastrophes in Wisconsin: 324
- National number of tornadoes: 1,233
- Number of tornadoes in Wisconsin: 20
- National property damage from weather: $5,511,270,000
- Property damage from weather in Wisconsin: $51,070,000
Tornadoes are moderately frequent in the state, although Green Bay residents do not face a significant risk from this type of storm. Events such as the following cause most weather-related property damage in this area:
- Hailstorms: Residents of this city experience occasional hailstorms. Hailstones in this area are typically less than 1 inch in diameter, but when they are larger, they can damage windows, roofs and crops.
- Freezing temperatures: The coldest temperature on record in Green Bay occurred in 1899 at -33° F. The city’s average low temperature in January is a brisk -12.4° F. When temperatures drop below zero, there is a high risk of water pipes freezing and bursting. If this happens in your home, you may face serious water damage.
- Floods: In the spring, melting snow and heavy rain showers cause the water levels in the bay, the Fox River and the East River to rise. This often leads to problems with flooding in many area homes and businesses.
A comprehensive Milwaukee homeowners insurance policy coupled with an NFIP-backed flood insurance policy should be sufficient to shield you from the financial hardships that weather-related damage to your home can produce.
Ask Your Agent for Possible Discounts
In many cases, you can save money on your homeowners insurance policy by taking preventive measures such as installing deadbolt locks on all outside doors and having burglar and smoke alarms that automatically notify authorities upon activation. Some insurance companies also offer discounts for such things as having multiple policies with them or even for having a smoke-free home. Always be sure to ask about any offered policy discounts.
Get Green Bay Homeowners Insurance at Affordable Rates
When you are shopping for homeowners insurance, it is best to obtain a minimum of three policy quotes. That way, you can be sure that the coverage you are purchasing comes at a reasonable rate. You can save time by allowing an independent agent in the Trusted Choice network do your comparison-shopping for you. Member agents can use their relationship with several different insurance companies to provide you with a variety of customized and competitively priced Green Bay home insurance quotes.
Contact your local agent today to get your individualized homeowners insurance quotes. You'll save time and money.