Find the Best Homeowners Insurance in Columbus, WI

What to know about homeowners insurance in Columbus

Homeowners insurance isn’t required in Wisconsin, but if you have a mortgage, your lender likely requires it. Homeowners insurance protects residents from financial loss after damages to their dwelling and personal property due to fire, lightning, hail and windstorms, theft, and other events, known as “perils” in the insurance industry.

Homeowners insurance in Wisconsin also includes coverage for liability in case you are responsible for a nonauto-related accident on or off your property, medical payments of nonfamily members injured on your property and additional living expenses if you are forced out of your home because of a covered peril.

• What homeowners insurance covers: A standard homeowners insurance policy covers your dwelling and detached structures, like garages and sheds; your personal property, including furniture and clothing; personal liability; medical payments; and additional living expenses. The perils that most homeowners insurance policies protect against include fire and smoke, lightning, windstorms, hail, the weight of ice or snow, vandalism, theft, glass breakage and falling objects.
• What homeowners insurance doesn’t cover: Homeowners insurance doesn’t cover everything. Some events that are not covered under a standard home insurance policy include water damage from flooding or sewer backup, earthquakes and problems caused by neglect.

When you buy homeowners insurance in Columbus, you have the ability to choose coverage amounts and add on coverage such as flood insurance, sewer backup coverage and scheduled personal property coverage for high-value items including jewelry and antiques.

Before choosing a homeowners insurance policy, you should verify that the agent, broker or company you are working with is licensed in Wisconsin by the Office of the Commissioner of Insurance. Read over a policy carefully to make sure you understand the coverage; if you have questions, be sure to ask your agent or the insurance company.

Average home insurance costs in Wisconsin

The average cost of homeowners insurance in Wisconsin is between $1,000 and $1,100 per year, or about $83 to $92 per month. That is less than the average in most states across the U.S.

The cost of a particular homeowners insurance policy in Wisconsin depends on a number of factors:

• Where in Wisconsin you live
• The type of home you live in, including its building materials, age and size
• The types of coverage you buy and the coverage limit amounts
• Your deductible

Keep more than just cost in mind when choosing a home insurance company in Wisconsin. Read customer reviews, learn about the claims process, find out details about renewal and cancellation and research the company’s financial health before making your final decision.

How to save on homeowners insurance in Wisconsin

Everybody wants to know how to get cheaper home insurance. Here are some more tips to save on your premium:

• Comparison shop. There are many homeowners insurance providers throughout the state. We recommend getting quotes from at least three companies. Similar policies can vary in price significantly between insurers.
• Fix your credit. Most insurance companies factor your credit history into the cost of your policy. Improving your credit score can translate to lower rates. Check your credit report before getting a quote to make sure it is accurate.
• Ask about discounts. Ask your insurance provider for a list of all the discounts it provides. Homeowners insurance discounts are common for new homeowners, claim-free customers, those who bundle home insurance with auto insurance and homeowners with security devices such as smoke detectors and alarm systems.
• Choose actual cash value coverage over replacement value coverage. Actual cash value coverage reimburses you for loss or damage of personal property while taking depreciation into account. The reimbursement amount is typically lower than with replacement value coverage, which pays for the full cost of replacement at today’s prices.
• Raise your deductible. Increasing your deductible will lower your premium.

Columbus homeowners insurance FAQ

How are homeowners insurance companies regulated in Columbus?

The Wisconsin Office of the Commissioner of Insurance regulates homeowners insurance companies in Wisconsin. It issues licenses to entities that market and sell insurance in the state and reviews policies to make sure they comply with Wisconsin law.

What are the different types of homeowners insurance?

The main types of policies are broad form (HO-2), which lists covered perils for dwelling and personal property coverage; special form (HO-3), which lists excluded perils for dwelling coverage and names perils for personal property coverage; and comprehensive form (HO-5), which lists only exclusions for both types of coverage. There is also modified coverage form (HO-8), condominium insurance (HO-6), mobile home insurance (HO-7) and renters insurance (HO-4).

What do I need to get homeowners insurance online?

If you're looking to get home insurance online, you'll need to provide detailed information about you and your house. Be ready to give your name, date of birth and Social Security number. You also will need to know details about recent renovations and the age of certain home components and appliances. It’s also important to have an idea of how much coverage you need.

How is home insurance calculated?

The cost of home insurance in Wisconsin depends on your home’s characteristics (e.g., building material, square footage, age), where you live, the coverage you buy and your deductible. On average, home insurance premiums in Wisconsin are lower than in most of the U.S.

Can I get homeowners insurance without an inspection?

It may be possible to get homeowners insurance without an inspection if your home is new or the insurance company recently did an inspection for the previous owner.

Do you have to have home insurance?

You are not legally required to have home insurance in Wisconsin, but if you have a mortgage, your lender will likely require it.