5 Best Madison Homeowners Insurance Companies (2026)
American Family and Wisconsin Mutual are among the leading choices for homeowners insurance in Madison, Wisconsin.
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Written byAmy Beardsley
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Amy BeardsleyFreelance Insurance and Real Estate Writer
3+ years writing about auto, home, and life insurance
7+ years in personal finance and technology
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Edited bySara Getman
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Sara GetmanAssociate Editor
Updated
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Home insurance in Madison costs an average of $1,392 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.[1]
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 $116 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Outdated systems can make older Madison homes more expensive to insure.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
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 8.6 /10 |
|---|---|
| JD Power J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale. | 638 |
| $300,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $79/mo |
| $500,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $114/mo |
NAIC Index
Average amount of customer complaints relative to competitors on a 0-5 scale. A lower score represents fewer complaints.
0.72
A.M. Best
A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).
A
Why we picked this company
American Family is your go-to for flood coverage in Madison. Even if you don’t live in a high-risk area, you’re still at risk. Most flooding happens outside known floodplains.
In Madison, basements fill with water from surface drainage and the area’s high groundwater levels. With American Family, you can protect yourself with coverage for flash floods, hidden water damage, and water backup.
Pros
Easy to find a local agent
Significant savings for bundling
Plenty of add-on coverages
Cons
Customer satisfaction could be better
Below-average J.D. Power claims satisfaction rating
Some dog breeds can limit coverage eligibility
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
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 8.2 /10 |
|---|---|
| JD Power J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale. | 643 |
| $300,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $150/mo |
| $500,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $200/mo |
NAIC Index
Average amount of customer complaints relative to competitors on a 0-5 scale. A lower score represents fewer complaints.
0
A.M. Best
A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).
A++
Why we picked this company
State Farm stands out for Madison pet owners, especially if you own a dog.
Many insurers bump up your premiums or limit coverage because of your dog’s breed. State Farm doesn’t ask about dog breed. That’s a big advantage in a dog-loving city that boasts nine off-leash dog parks. You can also buy pet insurance through insurance agency partner Trupanion.
Pros
No breed restrictions for dogs
Built-in inflation protection
High J.D. Power customer satisfaction rating
Cons
Not many available discounts
Low J.D. Power claims satisfaction rating
Not much flexibility to customize coverage
Chubb: Best for high-value homes
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 7.8 /10 |
|---|---|
| JD Power J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale. | 688 |
| $300,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $82/mo |
| $500,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $134/mo |
NAIC Index
Average amount of customer complaints relative to competitors on a 0-5 scale. A lower score represents fewer complaints.
0.12
A.M. Best
A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).
A++
Why we picked this company
At Chubb, you’ll find high-value home insurance coverage, which is perfect for Madison’s upscale areas like Regent and Elderberry. The company earned high ratings for customer and claims handling satisfaction from J.D. Power. Extended replacement cost comes standard, and complimentary appraisals make sure you get the right coverage limits.
Pros
Excellent J.D. Power claims and customer satisfaction ratings
Covers code upgrades by default
Personal liability limits of up to $100 million
Cons
Must contact agent for quote
Few available discounts
Poor grade from Better Business Bureau (BBB)
Travelers: Best for policy customization
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 7.8 /10 |
|---|---|
| JD Power J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale. | 609 |
| $300,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $116/mo |
| $500,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $181/mo |
NAIC Index
Average amount of customer complaints relative to competitors on a 0-5 scale. A lower score represents fewer complaints.
1.34
A.M. Best
A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).
A++
Why we picked this company
Travelers is a top choice for homeowners looking for customized insurance protection. You’ll find eight optional coverages, including water backup protection, green home coverage, and identity fraud, plus discounts for security devices and more. You’ll also have access to 14 local insurance agencies in Madison for help navigating the many coverage choices.
Pros
Many available discounts
Many customizable coverage options
Strong local agent network
Cons
Low J.D. Power claims and customer satisfaction ratings
Not as many discounts as competitors
Slightly more expensive than competitors
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 $1,392 per year for home insurance, compared to the state’s overall annual average of $1,536.
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.[2]
Find Cheap Home Insurance in Madison
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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 in Madison, WI, are estimated rates current as of: Sunday, May 31 at 5:00 PM PDT.
Insurance Company  | Average Annual Premium |
|---|---|
| Chubb | $660 |
| Foremost | $672 |
| Rockford Mutual Insurance | $672 |
| West Bend Mutual | $684 |
| Allstate | $732 |
| American Family | $756 |
| Farmers | $840 |
| Allied | $924 |
| Travelers | $996 |
| Auto-Owners | $1,104 |
| USAA | $1,140 |
| Encompass | $1,176 |
| Acuity | $1,308 |
| Nationwide | $1,332 |
| Erie | $1,428 |
| State Farm | $1,428 |
The below rates in Madison, WI, are estimated rates current as of: Sunday, May 31 at 5:00 PM PDT.
Insurance Company | Average Annual Premium |
|---|---|
| Allstate | $1,092 |
| American Family | $1,368 |
| Rockford Mutual Insurance | $1,380 |
| West Bend Mutual | $1,440 |
| Chubb | $1,608 |
| Foremost | $1,752 |
| Auto-Owners | $2,028 |
| Farmers | $2,040 |
| Encompass | $2,064 |
| USAA | $2,076 |
| Allied | $2,124 |
| Travelers | $2,172 |
| State Farm | $2,400 |
| Nationwide | $3,048 |
| Acuity | $3,228 |
| Erie | $3,276 |
The below rates in Madison, WI, are estimated rates current as of: Sunday, May 31 at 5:00 PM PDT.
Insurance Company | Average Annual Premium |
|---|---|
| Allstate | $1,404 |
| American Family | $1,824 |
| Rockford Mutual Insurance | $1,932 |
| West Bend Mutual | $2,004 |
| Chubb | $2,352 |
| Foremost | $2,580 |
| Auto-Owners | $2,640 |
| Encompass | $2,688 |
| USAA | $2,784 |
| Farmers | $2,976 |
| State Farm | $3,012 |
| Travelers | $3,084 |
| Allied | $3,180 |
| Acuity | $4,632 |
| Erie | $4,812 |
| Nationwide | $5,244 |
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.[2] 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.[3]
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:
Rising home values increase premiums
The cost of buying a house in Madison is going up, and that means home insurance costs are also rising. Higher deductibles can help keep rates lower but mean you’ll pay more out of pocket when filing a claim.
Standard home insurance doesn’t cover flood damage
Flood damage can cost $25,000 or more to fix, but average disaster payments from the Federal Emergency Management Agency can be less than $4,000, according to the Wisconsin Department of Natural Resources. A separate flood insurance policy from a private company or the National Flood Insurance Program (NFIP) can help.
Severe weather happens often
Madison homeowners see tornadoes, hail, and thunderstorms, which can all cause property damage. Standard home insurance covers these weather events, but make sure your limits are high enough to rebuild at current prices.
Older homes cost more to repair
Madison’s older homes are beautiful, but they may not meet current building codes. Adding ordinance or law coverage to your policy can pay for the extra cost to upgrade so you’re not stuck footing the bill yourself.
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.[2]
Here’s how rates vary in Wisconsin.
The below rates in Madison, WI, are estimated rates current as of: Sunday, May 31 at 5:00 PM PDT.
City | Average Annual Premium: With $300,000 in Dwelling Coverage |
|---|---|
| Green Bay | $1,380 |
| Madison | $1,392 |
| Milwaukee | $1,488 |
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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 $1,392 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.
Allstate offers the cheapest insurance for homeowners in Madison. An average premium of $71 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.[4]
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.
Sources
- S&P Global. "US homeowners rates rise by double digits for 2nd straight year in 2024."
- Wisconsin Office of The Commissioner of Insurance. "Frequently Asked Questions - Homeowner's Insurance."
- Naic.org. "What are Additional Living Expenses and How Can Insurance Help?."
- Naic.org. "Why Are My Insurance Premiums Increasing?."
Methodology
Insurify data scientists analyzed rates from more than 180 home insurance companies sourced directly from Insurify’s partner companies and Quadrant Information Services. Rates span all 50 states and Washington, D.C., and quote averages represent the mean price for a given coverage level and geographic area. To ensure data reliability, only insurers meeting minimum quote thresholds were included in the analysis.
Unless otherwise specified, quoted rates reflect the average cost for homeowners with no prior claims and good credit with a home construction year of 1980. The default coverage assumptions include:
Default Coverage Assumptions
- Dwelling coverage: $300,000
- Deductible: $1,000
- Personal property limit: $25,000
- Liability limit: $300,000
Additional data points beyond these default values are sourced from Insurify’s proprietary database. Rates are updated monthly.
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Amy BeardsleyFreelance Insurance and Real Estate Writer
3+ years writing about auto, home, and life insurance
7+ years in personal finance and technology
Featured in
Sara GetmanAssociate Editor