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Wisconsin Home Insurance

Wisconsin is known for summer tornados and winter storms, which is why it is so important to buy good homeowners insurance. But that doesn’t mean paying an arm and a Shopping For Wisconsin Home Insuranceleg for coverage! With a little knowledge and some great insurance company recommendations, Insurance-Rates-Online makes it easy to find affordable Wisconsin Home Insurance.

The Basics of Wisconsin Home
Insurance Coverage

When purchasing a home insurance policy, start by deciding between replacement coverage or actual cash value coverage. Replacement coverage provides funds to repair or replace the damage, while actual cash value coverage deducts depreciation first. Replacement coverage is slightly more expensive, but if a serious incident occurs, the difference could cost a homeowner thousands of dollars out-of-pocket to complete repairs.

Home insurance actually consists of several types of coverage combined into one policy. Each segment of the policy covers specific items and has pre-determined payout limits.

  • Dwelling & Personal Property – Covers the house and contents
  • Additional Liability Expenses – Provides money to live away from the home temporarily during repairs of a covered incident.
  • Personal Liability – Pays for legal defense if sued because someone was injured or property was damaged due to negligence.
  • Medical Payments – Allows for medical expenses if someone is injured on the property or by a resident of the property.

Factors Affecting Wisconsin Home Insurance

Insurance companies take a huge number of factors into account when calculating the cost of premiums for a home. It is important to know as much as possible about these factors to keep rates low.

  • Location of the home – is the area known for severe weather conditions, like tornados or ice storms, or is it in a high-crime area?
  • Fire Protection – Each fire department has a rating on a scale of 1-10; the lower the rating, the better the fire department. The quality of the fire department, proximity of the home to the station, and distance from a fire hydrant are all considered.
  • Physical Condition – has the home been properly maintained? Remember, home insurance will not cover repairs due to neglect.

Extra Endorsements for Wisconsin Homeowners Insurance Policies

While every policy covers things like fire, theft or vandalism, there are many other things which may not be covered depending on the insurance company. It is important to read each policy thoroughly to make sure that it contains everything needed to fully protect the home. Some of the items to ask about include:

  • Personal Property – most policies limit the coverage amount on certain types of items, and limit the entire personal property amount to 50% of the dwelling limit. Homeowners with expensive antiques, computers, or jewelry should purchase extra coverage on those items.
  • Ordinance and Law Coverage – when a home is being repaired, the changes must be up to the latest code. This could mean that undamaged parts of the home may have to be replaced as well. Without this type of protection, the homeowner could be liable for these extra costs.
  • Watercraft/Recreational Vehicle Endorsement – many policies have very strict limits on boats, ATV’s or campers. Make sure to buy whatever protection fits the situation.
  • Ice & Snow – Read the policy carefully to make sure that ice, snow and sleet damage, such as collapse of the building or roof repairs, are covered.

Saving Money on Wisconsin Home Insurance

Fortunately there are many ways to save money on a home insurance policy in Wisconsin. Sometimes, simply by asking or making the insurance company aware of any special circumstances.

  • Increase the deductible – Raising the policy deductible slightly, even from just $250 to $500, can save a lot of money.
  • Insure only the home – remember, only the home and contents need to be insured, not the land.
  • Security devices – installing deadbolt locks, fire extinguishers and smoke detectors usually result in a discount on premiums.
  • Upgrading the systems – one other benefit of replacing old electric, plumbing or heating systems is lower insurance premiums; make sure to let the insurance company know when making these types of changes.

The Biggest Way to Save on Wisconsin Home Insurance

The top thing a homeowner can do to lower the cost of insurance is to shop around. Get several free quotes and compare them closely to find the best deal. Luckily this can also be the easiest part of the job. Just click on the “Get Quote” button below to instantly see a list of top insurance companies offering coverage in Wisconsin. Make sure to request at least four quotes to truly shop for the best deal. Don’t waste another dollar on home insurance – click on the button below and Start Now!

  

 

For more suggestions on ways to reduce home insurance costs, visit Saving Money On Home Insurance
Information on flood insurance is available through the National Flood Insurance Program.