5 Best Madison Homeowners Insurance Companies (2025)
American Family and Wisconsin Mutual are among the leading choices for homeowners insurance in Madison, Wisconsin.
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Home insurance in Madison costs an average of $1,272 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible. Home insurance premiums rose nearly 40% between 2019 and 2024, reflecting real homeownership risks in Wisconsin.[?]
While four out of five properties in Madison are at risk for wildfire damage, flooding is also a big threat, with 16% of buildings in high-risk flood areas. Standard homeowners insurance picks up the tab for wildfires, but it won’t cover flood damage.
Here’s what you need to know about finding home insurance in Madison, Wisconsin.
Quick Facts
Housing demand in Madison is driving up home prices and insurance rates.
On average, it costs $106 per month to insure a home in Madison.
Outdated systems can make older Madison homes more expensive to insure.
Best home insurance companies in Madison
You’ll find plenty of great home insurance companies to choose from in Madison. Each has different pros and cons, and the best company for you depends on the home you choose and how you want to protect it. Here are our top five picks for Madison homeowners to help you start your search.
American Family: Best for flood coverage
Wisconsin Mutual: Best for local knowledge and support
Wisconsin Mutual Insurance Company has its headquarters in Madison. This local presence means specific expertise about the local housing market and weather risks. You’ll find different insurance solutions based on the type of home you have, including mobile homes, hobby farms, seasonal homes, and two separate options for high-value homes in Madison.
Pros
Plenty of local support
Easy to customize your policy
Quick online claims process
Cons
Few available discounts
Expanded replacement cost not available with standard policy
Low Better Business Bureau (BBB) rating
State Farm: Best for pet owners
Chubb: Best for high-value homes
Travelers: Best for policy customization
Our editorial team analyzed regional and national home insurance companies that sell policies in Madison to assess which offer the best rates, coverage options, customer service, and savings to homeowners. We prioritized competitive rates, 24/7 customer service, homeownership discounts or bundling options, and specialty or supplemental coverages.
How much is home insurance in Madison?
Homeowners in Madison pay an average of $1,272 per year for home insurance, compared to the state’s overall annual average of $1,404.
How much you pay depends on several factors, like your home’s construction type, age, and fire protection rating. Location matters when comparing home insurance quotes, too. Theft, vandalism, flood risk, and other nuances vary between neighborhoods and ZIP codes.[?]
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Cheapest home insurance companies in Madison
To get cheap home insurance in Madison, you’ve got to know where to look. The table below gives you an idea of average annual insurance rates in Madison for different dwelling coverage amounts.
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
Insurance Company  | Average Annual Premium |
|---|---|
| Rockford Mutual Insurance | $624 |
| West Bend Mutual | $624 |
| Chubb | $660 |
| Foremost | $672 |
| American Family | $684 |
| Allstate | $720 |
| Farmers | $768 |
| Travelers | $816 |
| Allied | $840 |
| Auto-Owners | $996 |
| USAA | $1,056 |
| Encompass | $1,068 |
| Erie | $1,092 |
| Acuity | $1,236 |
| Nationwide | $1,248 |
| State Farm | $1,296 |
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
Insurance Company | Average Annual Premium |
|---|---|
| Allstate | $1,092 |
| American Family | $1,164 |
| Rockford Mutual Insurance | $1,320 |
| Chubb | $1,608 |
| West Bend Mutual | $1,608 |
| Foremost | $1,752 |
| Encompass | $1,776 |
| Farmers | $1,776 |
| Auto-Owners | $1,824 |
| Travelers | $1,824 |
| USAA | $1,848 |
| Allied | $1,920 |
| State Farm | $2,160 |
| Erie | $2,484 |
| Nationwide | $2,796 |
| Acuity | $3,072 |
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
Insurance Company | Average Annual Premium |
|---|---|
| Allstate | $1,404 |
| American Family | $1,584 |
| Rockford Mutual Insurance | $1,872 |
| West Bend Mutual | $2,256 |
| Encompass | $2,280 |
| Chubb | $2,352 |
| USAA | $2,424 |
| Auto-Owners | $2,448 |
| Farmers | $2,520 |
| Foremost | $2,568 |
| Travelers | $2,616 |
| State Farm | $2,724 |
| Allied | $2,880 |
| Erie | $3,660 |
| Acuity | $4,380 |
| Nationwide | $4,788 |
How much homeowners insurance do you need in Madison?
Homeowners insurance contains a few different policy types to protect you and your home:
Dwelling coverage: The amount of dwelling coverage should be enough to rebuild your home from the ground up. It’s different from market value, and a local agent can help you estimate how much coverage makes sense based on construction costs in Madison.
Other structures coverage: For detached garages, sheds, and other structures, your other structures policy limit is typically a percentage of your total dwelling coverage. If you have an expensive detached garage or one that contains valuable belongings, you might need higher insurance limits.
Personal property coverage: This coverage protects your belongings. If you have expensive jewelry or art, it may be worth getting additional endorsements.
Liability coverage: You’ll also want to pay special attention to your liability limit. Homeowners liability insurance protects you if someone injures themselves on your property and sues you.[?] This coverage pays for medical bills and legal expenses up to your policy limits. Higher limits provide more liability protection but can also drive up insurance rates.
Additional living expenses: If you can’t live in your home because of damage from a covered peril, additional living expenses coverage pays for hotels, restaurant meals, and other temporary costs.[?]
What to know about home insurance in Madison, WI
If you’re buying a house in Madison, you should know what you’re up against. Here’s what to consider:
Average cost of home insurance in other cities in Wisconsin
Average home insurance rates can swing up or down depending on the city you’re in. Even a different ZIP code within the same city can have different rates because of the area’s crime rates, weather patterns, and distance to fire stations.[?]
Here’s how rates vary in Wisconsin.
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
City | Average Annual Premium: With $300,000 in Dwelling Coverage |
|---|---|
| Green Bay | $1,260 |
| Madison | $1,272 |
| Milwaukee | $1,368 |
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Madison homeowners insurance FAQs
Whether you’re buying your first home or reviewing your coverage, here are quick answers to common questions Madison homeowners have.
The average cost of homeowners insurance in Madison is $1,272 per year for a $300,000 policy. If you need flood insurance as secondary coverage, it increases the amount you’ll pay to protect your home.
American Family offers the cheapest insurance for homeowners in Madison. An average premium of $69 per month buys you a policy with $300,000 in dwelling coverage.
The best home insurance company depends on what you’re looking for. But American Family, Wisconsin Mutual, and State Farm are all standout insurers for Madison homeowners.
Homeowners insurance has an 80% rule that says your insurance policy must cover at least 80% of your home’s replacement cost. If your policy is less than that, your insurance company may not fully cover your claim.
No. Older homes usually cost more to insure. They may have outdated heating, plumbing, wiring, and roofing systems that make a claim more likely, driving up insurance pricing.[?]
If your home is in a high-risk flood zone and you have a mortgage, you may need to buy flood insurance. Your lender can require it even in lower-risk flood areas.
As a Madison homeowner, you should consider water backup coverage for basement flooding and extended replacement cost coverage to protect against increasing construction costs. You may also want ordinance or law coverage for older homes.
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