Wisconsin Homeowners Insurance

Wisconsin homeowners insurance is something every homeowner should consider.  As a homeowner in WI, you need insurance to help protect your investment, your family, and to protect you from potential liability is someone is ever harmed on your property.  With so many homeowners insurance options in Wisconsin and free online tools, it is easy for you to find the one policy that best suits your needs.  Before you do that, take just a minute to learn the facts about Wisconsin homeowners insurance that will help you make an informed decision.

Wisconsin Homeowners Insurance Rates 

Underwriting is the process of determining your risk, and it is used to create your WI home insurance rate.  The underwriting process involves the company gathering information about you and your home.  This information is then analyzed and a rate is given based upon it.

It is important that you are honest during the underwriting process.  The company can cancel your policy if you are found to have provided false information. Some of the things that will be considered and checked out during the underwriting process are:

1. Your employment history.
2. Your credit history.
3. Your at home hobbies.
4. The age of your home.
5. Security features of your home.
6. The age of your major systems – electrical, plumbing and heating.
7. The distance to fire rescue.
8. The type of construction.

The company may look at additional things, but this should cover the basics most companies will look at.

Your insurance company will want to make sure you are a low risk.  Low risk means that it is unlikely that you will file a claim with them and that you will pay your premiums on time.

Some things the company may not like when they do your underwriting are:

1. Bad credit history.
2. Short employment history.
3. Older home.
4. Home located too far from a fire station or fire hydrant.
5. Dangerous hobbies.
6. Older electrical, plumbing and heating systems.

There are many reasons why insurance will raise your rates.  You can ask them about the information they used to compile your rates and what things you can do to get the rate lower.

The agent should be happy to help you out by making sure you understand the policy and your rate.  If you run into an agent that is quick to get you to sign be wary and find a new agent. If you have done a bit of research ahead of time and know what you are looking for, you will be well protected.

Wisconsin Homeowners Insurance Assistance

Some people may find that it is difficult, if not impossible, to secure homeowners insurance.  Some types of homes and homes in certain locations are considered too much of a risk to insure.  In this case, since you still need insurance, so what do you do?

There is the Wisconsin Insurance Plan that provides coverage to those who can get it nowhere else.  WIP is controlled by the Commissioner of Insurance and provides property damage coverage for certain types of domiciles.  It does not provide coverage for businesses.

The requirements to qualify for WIP are:

1. Completed application
2. Premium deposit
3. Documentation to prove you are uninsurable

Finding Cheap Wisconsin Homeowners Insurance

There are many ways to save money on your Wisconsin home insurance rates.  Here are the top things to look at when trying to save money:

1. Deductible.  Typically the higher deductible you are willing to pay the lower your premium rates will be.  You should choose the highest deductible that you would be able to pay comfortably.
2. Security.  Most insurance companies will give you lower premiums for having security features in your home.  These features include dead bolt locks and security systems.
3. Updates.  Insurance companies want to insure homes that are safe and that also include safe operation.  You should update the plumbing, electrical and heating systems if they have not been updated recently.
4. Credit.  You should try to fix your credit.  Companies will use your credit rating to determine your rates.

Also, don’t forget to ask for discounts.  Some insurance companies will offer you a range of discounts, but you need to ask about them.

Wisconsin Homeowners Insurance Quotes

To get the best rates possible you need to shop around, you will need to compare at least 3 different policies and companies.  Shopping around for insurance used to involve having to go to different companies, filling out forms and waiting for a reply. Now, online options make it quick and simple to get the information you need.

With our quote tool you fill out one form and we do the leg work.  We get you multiple quotes form different companies quickly and easily.

Just input your zip code above and you’ll have the information you need to choose a Wisconsin homeowners insurance policy today.