Madison ,WI Home Insurance - The cost of homeowners insurance is influenced by a range of factors, including the value of your coverage, deductible, and the construction materials used in your home.
VHome Insurance conducted a thorough analysis of the Madison, WI homeowners insurance market, taking into account factors like average costs, range of coverages, deductibles and customer satisfaction ratings to determine the best providers. The Average home insurance cost in Madison, WI is $1189. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Madison, WI. VHome Insurance will help you navigate the world of homeowners insurance coverages in Madison, WI.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $476 |
| $200,000 | $809 |
| $300,000 | $999 |
| $400,000 | $1,522 |
| $500,000 | $1,914 |
Home insurance costs in Madison can vary greatly based on location. The frequency of claims in your area can affect the cost of your policy. Simply put, the location of your home can significantly impact your homeowners insurance premium.
| Zipcode | Average Insurance Premium |
|---|---|
| 053705 | $1,178 |
| 53703 | $1,201 |
| 53717 | $1,161 |
| 53711 | $1,156 |
| 53715 | $1,169 |
| 53719 | $1,138 |
| 53718 | $1,125 |
| 53704 | $1,102 |
| 53714 | $1,098 |
One key aspect of your policy is the deductible, which is the amount you pay out of pocket before your insurance kicks in. Choosing the right deductible can have a major impact on your insurance premiums and overall savings. In this guide, we'll help you understand the options available for homeowners insurance deductibles in Madison, WI, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $1,219 |
| $1000 Deductible | $1,090 |
| $1500 Deductible | $1,028 |
| $2500 Deductible | $927 |
| $5000 Deductible | $785 |
| Home Insurance Company Near Madison, WI | Homeowners Insurance Agency Near Madison, WI | Address |
|---|---|---|
| NA | Donat Insurance Services Llc | 111 1/2 Progressive Drive , Lake Delton, WI, 53930 |
| Erie | Baer Insurance Services Llc | 1406 Business Hwy 18-151, Mount Horeb, WI, 53572 |
| State Farm | Kris Stanton | 910 8th Ave, Baraboo, WI, 53913-1247 |
| Farmers | Nolan Anderson | 105 E Main St, Waunakee, WI, 53597 |
| Liberty Mutual Independent | Sg Insurance Agency Llc | 101 ALPINE PKWY STE 101, OREGON, WI, 53575 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Shorewood Hills village, Wisconsin | $103 | $137 | $206 |
| Dane County, Wisconsin | $84 | $112 | $168 |
| Maple Bluff village, Wisconsin | $97 | $129 | $194 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Madison, WI | 3.3% | 8.5% |
| Shorewood Hills | 2.24% | 6.86% |
| Dane County | 3.19% | 8.82% |
| Maple Bluff | 2.45% | 6.46% |
| Madison Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| $200 to $299 | 1,004 | 2.0% | $769 |
| $300 to $499 | 1,876 | 3.0% | $1219 |
| $500 to $749 | 10,650 | 21.0% | $1894 |
| $750 to $999 | 18,034 | 36.0% | $2644 |
| $1,000 to $1,499 | 13,419 | 26.0% | $3769 |
| $1,500 or more | 4,568 | 9.0% | $5419 |
| Streets in Madison Area | Homeowners Insurance Cost |
|---|---|
| Barber Dr, Redan Dr, Miller Ave, Esther Ct, N Orchard St, S Oakbridge Ct, Rolfsmeyer Ln, Busse St, Farmco Dr, Van Buren St | $690 |
| Green Ave, E Dean Ave, Fisk Pl, Lien Rd, Box Hill Rd, Daentl Rd, Maricopa Way, S Sunset Ct, Cook St, N Pinckney St | $673 |
| Raceway St, E Hill Dr, S Fair Oaks Ave, Aaron Ct, S Charter St, Little St, Mandan Cres, Freese Ln, Waubesa St, Annestown Dr | $676 |
| Swansee Ridge, Junction Ct, Bradley Pl, Burma Rd, Libby Rd, Brandon Rd, Greentree Rd, Bruns Ave, E Coldspring Ave, Lawton Ln | $667 |
| Braxton Pl, Sayle St, la Sierra Way, Pilgrim Rd, Mission Cir, Lawrence St, Manufacturers Dr, Lance Ln, Barlow St, Post Rd | $683 |
| Comanche Way, Smithfield Dr, Horned Owl Dr, W Geneva Cir, Navajo Trl, Jan Dr, Zeno St, N Brearly St, Dewberry Dr, Jacobs Ct | $670 |
| Rutland Dunn Townline Rd, Keyes Ave, Champion Cir, Shamrock Rd, S Broom St, Ashland Ct, Arial Cir, College Ct, Running Deer Trl, Enterprise Ln | $678 |
| Bellewood Dr, Covent Garden Sq, Wyota Ave, Henuah Cir, Wildberry Dr, Susan Cir, Norwood Pl, Carey Ct, W Shore Dr, N Thornton Ave | $673 |
| Isaac Dr, Welton Dr, Williamsburg Way, County Trick Hwy, W Dayton St, Waverly Pl, Libby Rd, Lewis Ct, N Hamilton St, Conlin St | $655 |
| Gregory St, Bewick Dr, Stone Corner Cir, Sutteridge Trl, Galley Ct, Crest Line Dr, Sebring Ct, Langlade Ln, Dryden Dr, Salem Dr | $661 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Madison | $100 to $102 |
| Shorewood Hills | $123 |
| Dane County | $101 |
| Maple Bluff | $116 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $1,700 | $2,700 |
| Yearly Madison Homeowner Insurance Premium Example | $1,000 | $800 |
| Out of Pocket Expense During Claim | $1,700 | $2,700 |
| Total Home Insurance Premium for 8 years + Out of Pocket Expense for Claim | $9,700 | $9,100 |
| Net Savings to Madison Home Owner from High Deductible Plan | $600 | |
| Scenario | Madison, WI Home Replacement Value MORE than Home Value | Madison, WI Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $211,500 | $118,000 |
| Insurance Premium based on Replacement Value | $900 | $500 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $46,000 | Risk Exposure from Under Insuring Coverage is $47,500 |
| Premium Impact | Insurance cheaper by $200/year | Insurance costlier by $200/year |
| Insurance Company | Erie Insurance | American Family Insurance | Amica Mutual Insurance Company |
| Monthly Premium | 171 | 96 | 55 |
| Year Built | 1962 | 1987 | 1970 |
| Home Details | 5 Beds, 4 Baths | 4 Beds, 1 Baths | 2 Beds, 1 Baths |
| Coverage Amount | $500000-$600000 | $350000-$400000 | $150000-$175000 |
| Deductible | $500- $1000 Deductible | $500- $1000 Deductible | $1000-$2500 Deductible |