Average homeowners insurance cost in Madison, WI

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In Madison, homeowners pay an average annual rate of $1,584 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to Insure.com’s rate analysis. This is $998 less than the national average of $2,582.

Homeowners insurance premiums can vary significantly from one property to another. In Madison, the cost of home insurance is influenced by several factors, including:

Size of your home
Age of your home
Amount of coverage required
Location
Your credit score

It’s crucial to compare quotes from multiple insurers to ensure you get the best homeowners insurance policy. This allows you to find the coverage that meets your specific needs.

Read this guide to discover the monthly homeowners insurance cost in Madison, explore the insurance costs for different dwelling coverage, and find out which companies offer affordable home insurance in Madison.

Key takeaways

The average cost of homeowners insurance in Madison is $1,584 per year.
West Bend Mutual is the cheapest homeowners insurance company in Madison with an average annual premium of $1,036.
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $369 more a year for home insurance.

Average homeowners insurance cost in Madison per month

Madison homeowners pay an average of $132 a month, based on our rate analysis. It’s $5 less than the state average of $137 and $83 less than the national average for home insurance across the United States. The price of your homeowners insurance policy in Madison may vary depending on where you live, the value of your home, and the coverage you choose.

Average homeowners insurance cost for a $200,000 house in Madison

The average cost of homeowners insurance in Madison, WI is $1,215 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The amount you pay for home insurance each year depends on many different things. The types of natural disasters or events that take place in your area affect how much you pay for coverage in your city.

Some areas are more at risk for natural disasters, like flood, hurricanes, or tornadoes. This means that if something happens, the cost of rebuilding would be higher in those areas, thereby leading to higher insurance premiums. Your insurance policy might not cover damage caused by floods or hurricanes. So, if you live in a flood-prone area, consider buying flood insurance coverage.

Average homeowners insurance cost for a $300,000 house in Madison

Based on a rate analysis conducted by Insure.com, Madison residents pay an average of $1,584 per year to insure a home for coverage limits of $300,000 dwelling, $100,000 liability with a $1,000 deductible. If you plan to increase your dwelling coverage from $200,000 to $300,000, you must pay an additional $369 per year for home insurance.

Buying adequate insurance to cover the entire expense of rebuilding your home is best advisable. However, the amount of dwelling coverage you need may vary depending on your home’s size, amenities, and the cost of living in your area.

Average homeowners insurance cost in Madison by company

After evaluating several carriers, West Bend Mutual is the least expensive homeowners insurance provider in Madison. It’s average annual rate for homeowners in Madison is $1,036.

Allstate holds the second position, while Nationwide secures the third spot with an average annual home insurance rate of $1,301.

Researching the insurance company is crucial before selecting a homeowners insurance policy. Our experts have analyzed all insurance providers in Madison and compiled a list of the cheapest home insurance providers. Below, you’ll find the home insurance companies in Madison and their average annual premiums.

Home Insurance Company	Annual rate
West Bend Mutual	$1,036
Nationwide	$1,301
State Farm	$1,391
Secura Insurance	$1,439
Acuity A Mutual Ins Co	$1,651
Farmers	$1,671
American Family	$2,404
Allstate	$1,221
Auto-Owners	$1,684
USAA*	$1,677

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Madison for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.