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Landlord Insurance Wisconsin
Last updated: May 30, 2025
"The first rule in investment is don't lose and the second rule in investment is don't forget the first rule." - Warren Buffett
Landlord insurance in Wisconsin is a specialized form of property insurance tailored for owners leasing out homes, apartments, or commercial spaces throughout the Badger State. Whether you own a single rental property in Milwaukee, manage duplexes in Madison, or have multiple buildings across Green Bay or Kenosha, landlord insurance Wisconsin is your frontline defense to protect your investments from risks unique to the region.
Unlike ordinary homeowners insurance, landlord insurance in Wisconsin is customized for the distinct exposures rental owners face, such as tenant-related claims, property damage, and the unpredictable Wisconsin weather, including hail, blizzards, and strong summer storms.
Wisconsin landlords have experienced notable increases in insurance premiums, directly impacting profitability and rental returns. After reviewing thousands of landlord insurance Wisconsin policies, we found many landlords pay up to 25% more than necessary due to lack of access to specialized providers or agents unfamiliar with rental property coverage.
That’s why OfferMarket Insurance developed a streamlined platform for Wisconsin property owners. We help you instantly compare landlord insurance quotes from 40+ leading carriers. Our Wisconsin-focused insurance advisors vet every policy to ensure you get robust protection at a competitive rate—saving landlords throughout Wisconsin significant money every year.
What Risks Does Landlord Insurance in Wisconsin Cover?
A quality landlord insurance policy in Wisconsin generally provides protection for:
🏠 Property damage due to fire, wind, hail, vandalism, and other common threats
⚖️ Liability claims if someone is injured on your Wisconsin rental property
💸 Loss of rental income if your property becomes uninhabitable from a covered event
🌊 Flood insurance (separate policy needed for flood-prone areas in Wisconsin)
Property Insurance
In Wisconsin, property owners contend with hazards such as ice storms, severe wind, and occasional flooding, in addition to fire and vandalism. The property insurance part of your landlord insurance Wisconsin policy covers these dangers and can also pay for temporary housing if your tenants must move out for repairs.
Wisconsin landlord property insurance comes in three primary coverage types—Basic, Broad, and Special—each offering protection from a different set of “perils” (risks):
Basic Form Perils
The most budget-friendly property insurance for Wisconsin landlords covers only the core perils:
| Peril |
|---|
| Fire |
| Lightning |
| Internal explosion |
Extended Coverage (EC) Perils
In Wisconsin, the phrase “WHARVES” is a handy reminder of the extra risks that can be added to a basic policy:
| Peril |
|---|
| Windstorm (common in Wisconsin’s spring/summer) |
| Civil commotion |
| Smoke damage |
| Hail (especially in central and northern WI) |
| Aircraft |
| Vehicle impact |
| Explosion |
| Riot |
For losses tied to vandalism, the acronym V&MM refers to:
| Peril |
|---|
| Vandalism |
| Malicious mischief |
Broad Form Perils
Wisconsin insurance professionals use “BIG AFFECT” to recall extra broad form protections, which supplement the basic and EC coverage:
| Peril |
|---|
| Burglary damage |
| Ice, sleet, snow (weight damage from Wisconsin winters) |
| Glass breakage |
| Accidental discharge of water/steam |
| Freezing objects (common in WI cold months) |
| Falling objects |
| Electrical current damage |
| Collapse |
| Tearing asunder |
Special Form Peril
The broadest Wisconsin landlord insurance is “Special Form,” “open form,” or “DP-3” (usually for single-family rentals). This covers virtually all direct physical losses unless specifically listed as excluded. Carefully review policy exclusions, which often include:
Flood (requires separate flood insurance, especially in Wisconsin’s low-lying or river-adjacent areas)
Earthquake (rare in Wisconsin, but possible)
Intentional damage
Costs from building code enforcement
Power outages originating off the property
Government seizure
General Liability Insurance
General liability insurance in Wisconsin defends landlords against bodily injury or property damage claims brought by tenants, guests, or vendors at your rental property. Typical limits range from $100,000 to $1,000,000 per incident.
For example, if a tenant slips on an icy sidewalk in your Wisconsin rental and sues, your landlord insurance Wisconsin policy’s liability component helps pay for medical expenses and legal defense.
Business Interruption Insurance (Loss of Rent)
Wisconsin landlords face the risk of losing rental income if damage causes tenants to vacate. Business interruption insurance, included with most landlord insurance Wisconsin policies, compensates for lost rent, helping you maintain cash flow during repairs.
This coverage is usually inexpensive in Wisconsin, generally about $1 for every $1,000 in annual rental income.
Flood Insurance
Flooding is a real threat in Wisconsin, especially along the Mississippi River, Fox River, or in cities like La Crosse and Fond du Lac. If your rental is located in a FEMA-designated flood zone, separate flood insurance is essential.
Wisconsin lenders often require up to $250,000 in flood coverage. This coverage is separate from your landlord insurance Wisconsin policy and usually sourced through the National Flood Insurance Program (NFIP). FEMA’s Flood Map Service can confirm your risk.
Landlord Insurance for DSCR Loans in Wisconsin
If your Wisconsin rental property is financed with a Debt Service Coverage Ratio (DSCR) loan, specific insurance requirements set by lenders apply. Wisconsin landlords must carry landlord insurance policies meeting these rules to qualify for financing and keep the loan in good standing.
Because insurance costs affect your DSCR, choosing an affordable yet comprehensive landlord insurance Wisconsin policy is crucial for cash flow and ongoing loan approval. Standard DSCR lender requirements include:
| DSCR Loan Insurance Requirement | Required? |
|---|---|
| Property Insurance | Yes |
| General Liability Insurance | Yes |
| Business Interruption Insurance | Yes |
| Mortgagee Clause | Yes |
| Lender as Additional Insured | Sometimes |
OfferMarket Insurance helps Wisconsin landlords meet DSCR loan insurance needs by providing quotes tailored to lender rules while minimizing costs.
How Much Does Landlord Insurance Cost in Wisconsin?
Several factors influence the price of landlord insurance in Wisconsin:
Location in Wisconsin
Insurers use geographic data to set premiums. Properties near flood-prone rivers or lakes, such as those in Eau Claire or Racine, may have higher premiums than inland areas like Wausau or Oshkosh. Repair costs and local labor rates also affect insurance pricing.
Property Insurance Type
Wisconsin landlords can select from Basic, Broad, and Special Form policies. Special Form offers the broadest protection and is typically recommended, though it comes at a higher cost.
| Property Insurance Type | Cost |
|---|---|
| Basic Form | $ |
| Basic Form + Extended Coverage | $$ |
| Broad Form | $$ |
| Special Form | $$$$ |
Dwelling Coverage Amount
The main driver of your Wisconsin landlord insurance premium is the dwelling coverage limit. It’s best to insure for the full replacement cost value (RCV) to avoid penalties, like coinsurance.
Given rising construction expenses in Wisconsin, make sure to routinely update coverage limits to match current replacement costs.
| Dwelling Coverage Type | Cost |
|---|---|
| Actual Cash Value | $ |
| Functional Replacement Cost Value | $$ |
| Replacement Cost Value | $$$ |
Deductible
A higher deductible can lower your Wisconsin premium. Many landlords pick deductibles of $5,000 or above for a balance between out-of-pocket risk and annual premium savings.
| Deductible | Premium Cost |
|---|---|
| $1,000 | $$$$ |
| $2,500 | $$$$ |
| $5,000 | $$$ |
| $7,500 | $$ |
| $10,000 | $ |
Claim Frequency and Severity in Wisconsin
Insurance companies consider your personal claims record and your property’s loss history when setting Wisconsin premiums. Multiple or severe claims—such as from burst pipes in freezing Wisconsin winters or storm damage—can drive up rates or limit coverage options.
Crime Score Impact in Wisconsin
Neighborhood crime rates, especially in cities like Milwaukee or Racine, affect landlord insurance pricing in Wisconsin. Higher crime means more risk of theft, vandalism, and liability claims, which can push premiums up or lead to policy restrictions.
Remember, security investments like cameras or professional management can help bring costs down.
Property Condition and Maintenance in Wisconsin
Well-maintained properties usually qualify for lower Wisconsin insurance rates. Make it a priority to keep plumbing and heating systems updated to avoid issues like frozen pipes in winter or water leaks during wet spring months.
Older homes with dated materials or unresolved structural problems typically incur higher insurance premiums. Provide proof of regular maintenance and recent upgrades to potentially secure more favorable terms from insurers.
How to Protect Your Rental Property in Wisconsin
While landlord insurance Wisconsin is fundamental for risk management, taking proactive steps can further safeguard your investment:
Tenant Screening
In Wisconsin’s competitive rental environments—from Milwaukee to smaller towns like Wausau and Appleton—screening tenants thoroughly is critical. Always run credit and background checks on adult applicants. Set standards for acceptable credit scores and disqualifying factors. When you need to make exceptions, ask for higher security deposits or strong co-signers.
Regular Maintenance
Wisconsin’s shifting seasons demand careful property upkeep. Inspect your rental quarterly to catch early signs of trouble—roof damage from snow, basement leaks during spring thaws, or ice dams. Keep thorough maintenance records and share them with your insurer for potential premium reductions.
Tenant Maintenance Education
Teach your Wisconsin tenants basic property care—like swapping out HVAC filters, knowing how to shut off the main water valve during emergencies, or letting faucets drip during subzero nights to avoid frozen pipes. Small steps can prevent large insurance claims.
DP-3 Insurance in Wisconsin
DP-3 (Special Form) policies are the gold standard for Wisconsin landlords. These policies cover damage on a replacement cost basis, providing robust protection against most perils except specific exclusions listed in your policy.
What is Coinsurance?
Coinsurance clauses penalize Wisconsin landlords who underinsure their properties—usually below 80% of the replacement cost value. If you underinsure, you’ll pay a portion of any claim above your deductible.
Coinsurance formula
(Insurance Carried ÷ Insurance Required) × Loss = Claim Payment – Deductible
Suppose your Wisconsin rental’s replacement cost is $300,000, but it’s insured for only $150,000 with a $5,000 deductible. If you suffer a $60,000 loss:
($150,000 ÷ $300,000) × $60,000 = $30,000 - $5,000 = $25,000 paid by insurer.
You’d pay the remaining $35,000, illustrating why insuring to full replacement value is so important.
Landlord Insurance Markets in Wisconsin
From vibrant Milwaukee neighborhoods and college towns like Madison to quieter communities along Lake Michigan or in central Wisconsin, we connect landlords with insurance solutions that fit their unique needs.
Best Landlord Insurance in Wisconsin
Wisconsin landlords have many choices. We recommend a landlord insurance policy that includes:
Comprehensive property coverage for Wisconsin’s climate and risks
General liability protection against tenant and visitor injuries
Business interruption insurance for lost rental income
Flood insurance if your property is near a Wisconsin flood zone
Partnering with an agency familiar with Wisconsin’s landlord market and offering access to multiple insurers will help you secure optimal coverage at the best price. Start your Wisconsin landlord insurance quote with OfferMarket Insurance today!
Landlord Insurance Guidelines for Wisconsin DSCR Loans
The following guidelines reflect best practices for landlord insurance in Wisconsin for DSCR loans:
Property Insurance
| Coverage Type | Requirement |
|---|---|
| Property Insurance | Mandatory, AM Best Rating A- VIII or higher, 1-year term |
| Limits | 80% of replacement cost or loan amount, whichever is higher |
| Deductible | $5,000 |
| Policy Type | Special Form (Dwelling Fire or Commercial Property) |
| Cancellation Notice | 30 days |
| Lender’s Designation | Mortgagee |
General Liability Insurance
| Coverage Type | Requirement |
|---|---|
| General Liability Insurance | Mandatory |
| AM Best Rating | A- VIII or higher |
| Limits | $500,000 per occurrence, $1,000,000 aggregate |
| Deductible | $1,000 |
| Coverage | Occurrence basis |
| Cancellation Notice | 30 days |
| Lender’s Designation | Additional Insured |
Business Interruption Insurance
| Coverage Type | Requirement |
|---|---|
| Business Interruption Insurance | Mandatory |
| AM Best Rating | A- VIII or higher |
| Limits | One year of gross rental revenue |
| Cancellation Notice | 30 days |
| Lender’s Designation | Mortgagee |
Flood Insurance
| Coverage Type | Requirement |
|---|---|
| Flood Insurance | Mandatory if in flood zone |
| AM Best Rating | A- VIII or higher |
| Limits | $250,000 or loan balance, whichever is greater |
| Cancellation Notice | 30 days |
| Lender’s Designation | Mortgagee |
Additional Details for Wisconsin Landlord Insurance
| Detail | Information |
|---|---|
| Mortgagee Clause | OfferMarket Capital LLC ISAOA/ATIMA 627 S Hanover St, Baltimore, MD 21230 |
| Condos and PUDs in Wisconsin | Blanket policies allowed if units are covered; associations must insure common areas and equipment at 100% replacement cost |
| Instructions | Use ACORD forms for compliance. Submit certificates, invoices, or paid receipts at least 24 hours before closing. Submit final policy docs within 60 days of closing. Notify carrier of vacancies and obtain vacancy permit if needed. |
Frequently Asked Questions About Landlord Insurance in Wisconsin
How does OfferMarket Insurance work for Wisconsin landlords?
OfferMarket Insurance is a platform created for Wisconsin rental property owners. We compare quotes from dozens of carriers, ensuring your landlord insurance meets both your requirements and your lender’s expectations. Our experts review every option to deliver the best price for strong protection.
Do I need a Builders Risk Policy in Wisconsin?
Builders Risk coverage isn’t included in standard landlord insurance Wisconsin policies. You’ll need it if you’re renovating, rehabbing, or constructing a rental. It protects your property and building materials during active construction.
Can I use Functional Replacement Cost instead of Replacement Cost Value for my Wisconsin rental?
Check with your lender—some in Wisconsin allow Functional Replacement Cost, but others require full Replacement Cost Value based on your property’s details and appraisal.
Why does my Wisconsin lender want to be an Additional Insured?
Some Wisconsin DSCR lenders require being named as an Additional Insured to extend liability coverage to them, while the Mortgagee Clause protects their interest in the property. Meeting both ensures your policy is lender-compliant.
Can I use my preferred agent for landlord insurance in Wisconsin?
Yes—if your agent understands the nuances of Wisconsin landlord insurance and offers competitive coverage. Agents focused solely on personal insurance may miss key requirements and cause delays.
Can I pay for landlord insurance on the HUD-1 or ALTA settlement statement in Wisconsin?
DSCR loans in Wisconsin typically require landlord insurance premiums to be paid in full at closing, either through the HUD-1/ALTA or directly with your agent before settlement.
Can I escrow my landlord insurance premium in Wisconsin?
Many institutional lenders in Wisconsin require insurance premiums to be escrowed as part of your monthly payment to ensure there’s no lapse in coverage.
Can I get a refund if I cancel my Wisconsin landlord insurance policy?
Yes, Wisconsin law requires insurers to refund unearned premiums on a pro-rata basis. Always secure new coverage before canceling your old policy to avoid gaps.
What is an AM Best Rating?
AM Best is a rating agency assessing insurance carriers’ financial strength. For landlord insurance in Wisconsin, choose insurers with a rating of A- VIII or higher for confidence in their reliability.
What is Builders Risk Insurance in Wisconsin?
Builders Risk insurance covers Wisconsin properties and building materials during construction or remodeling. It insures against fire, wind, theft, and vandalism during the build, and ends once construction is finished or tenants move in.
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