Madison, WI Homeowners Insurance

If you have recently purchased a home in this delightful city, you will want to protect your investment. Author Icon Written by Trusted Choice Author Icon
Written by Trusted Choice

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Madison is Wisconsin’s capital and the second largest city in the state. It is a vibrant city with a low unemployment rate and lovely scenic views. The University of Wisconsin is located here, so city residents have access to many cultural and social activities including music and art. If you have recently purchased a home in this delightful city, you will want to protect your investment with a comprehensive Madison, 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

Wisconsin residents average premiums are considerably lower than the costs for the rest of the nation.


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Basic Homeowners Insurance Coverage Options

These are the basic homeowners insurance options that every homeowner should have:

  • 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.

Madison Homeowners Insurance Shields You from Liability

One of the most expensive problems that you, as a homeowner, can face is a liability lawsuit. This can happen if a third party suffers injuries while on your property due to your negligence. Some examples include a guest falling down stairs because of a loose floorboard, someone slipping and falling on a wet or icy surface, or your pets or children injuring another person or causing excessive property damage.

In most cases, accidents such as these result in minor injuries, but sometimes they can require extensive and long-term medical treatment. If this happens, you can rely on your homeowners insurance policy to shield you from having to pay these excessive costs fully out of pocket. Your homeowners liability insurance will even cover court costs and legal fees associated with any covered events.


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Our independent agents shop around to find you the best coverage.

Madison Homeowners Insurance Provides Coverage Against Theft

If your home is broken into and burglarized, you stand to lose a lot of expensive property and even face the costs related to repairing or replacing items broken or damaged during the burglary. Your Madison homeowners insurance policy can provide you with compensation for your losses.

Theft in Wisconsin

  • National average for burglaries: 37,814
  • Wisconsin number of burglaries: 24,347

Fortunately, the property crime rate in this state is lower than the national average.

You should still remain vigilant and keep your home secured. If you do happen to become a victim of this crime, first contact your local police department and file a report, and then contact your homeowners insurance provider so that they can start working on your claim.

Madison Homeowners Insurance Compensates for Weather Damage

Fortunately, residents of Madison do not face a significant risk from extremely damaging weather events such as tornadoes, wildfires or earthquakes. Events such as the following cause most weather-related property damage in this city:

  • Freezing temperatures: While the average low temperature in this city is around 10° F, temperatures have dipped as low as -37° F. Whenever temperatures drop below zero, there is a serious risk of pipes freezing and bursting. If pipes burst in your home, you may experience serious water damage.
  • Hailstorms: Hailstorms occur periodically in this city. In most cases, the hail stones are less than 1 inch in diameter, but when they are larger, they can cause a great deal of damage to windows, roofs and crops.
  • Floods: In the spring, melting snow and heavy rain showers cause the water levels in Lakes Mendota, Monona and Waubesa to rise. This often leads to problems with flooding in many area homes. Homeowners insurance does not cover flood damage, but you can purchase a low cost flood insurance policy through the National Flood Insurance Program (NFIP).

A comprehensive Madison homeowners insurance policy coupled with NFIP-backed flood insurance should be sufficient to protect you from the financial hardship that weather-related damage to your home can create.

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

Find a Great Rate for Madison Homeowners Insurance

Most insurance experts recommend that you obtain a minimum of three insurance quotes before purchasing a policy. This allows you to assess whether the policy you are selecting offers adequate coverage at a reasonable rate. Unfortunately, obtaining these quotes can often be time consuming because you will have to provide each company with a lot of personal information before they can provide you with an accurate quote. You can save time and money by having an agent in the Trusted Choice® network do your comparison-shopping for you.

Find an agent in your neighborhood and start comparing Madison home insurance quotes today.

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