- Great reputation for customer service and claims
- Very financially stable company
- Customers report low rates
- Only serves Wisconsin and Minnesota
- No known additional coverage information
If you are looking for a carrier with a lot of experience in the insurance industry, this is exactly what you will find through Wisconsin Mutual. They have over 100 years of experience and offer a wide range of products to suit all of your coverage needs. The company offers homeowners insurance for owner-occupied homes, non-owner-occupied homes, cars, cars, farms, and businesses. They also offer umbrella policies for extra liability protection. You can get a policy through Wisconsin Mutual if you live in Wisconsin. In 2017, they extended their coverage options to also serve Minnesota.
The company was structured as a mutual company in 1903 and remains this way today. This means it is owned by its policyholders. They have insured over 50,000 properties in both states. On the website, Wisconsin Mutual states they have a great expense operating ratio. This allows them to provide great policies to customers in a secure way. Over the last four decades, they have shown a steady increase in written premiums, proving them a top contender in the local area when it comes to insurance.
In 2018, Wisconsin Mutual won a STAR award for successfully addressing the needs of stakeholders, consumers, producers, and more. They were one of 27 recipients of this award that year. The company is very transparent about its finances, offering financial reports right on the website so customers can feel secure about choosing to work with the carrier. Overall, their growth has been steady over the last few years.
Wisconsin Mutual homeowners insurance policies & coverages
Whether you have a standard home or a seasonal home, you can get it insured through Wisconsin Mutual. They offer a few different policies to best suit your needs. Of the three options that are listed, you are sure to find the right package to protect your home efficiently.
Standard
This is the basic homeowners insurance policy they offer that is suitable for single-family homes, condos, and mobile homes. They state that the value of the homes should be above average, yet not quite able to qualify for a high-value home policy.
Premier
This policy is suitable for homes built in 1980 or more recently. They should meet specific standards and sit at a higher value than most other homes that are similar.
Premier Plus
The most extensive is this policy. It is for newer and more upgraded homes that are of the highest value. There are specific requirements that must be met to qualify for this plan.
To figure out which option is best for your home, you can work with a Wisconsin Mutual agent to go over the specific requirements that are needed for each policy. It appears the carrier likes to classify the type of policy you need based on the current value of your home.
Additional coverages
It is uncertain exactly which additional coverages are offered by Wisconsin Mutual. Since they have different levels of protection for various homes, it can be said that they do have certain coverages in place that can be added optionally. To find out more, you would have to ask an agent if there are any endorsements that you can add.
If you are looking for extra liability protection, Wisconsin Mutual does offer umbrella insurance policies. These policies are typically written in the amount of $1 million increments and cover all of your other policies as a safeguard. This will increase your liability protection for extra security.
Discounts available
When you purchase a policy through Wisconsin Mutual, you are given the chance to save some money on your premium. They offer multiple discounts that you may qualify for.
- New home: a discount for newer homes
- Auto & home: a discount for bundling auto and home
- Fire protection: a discount for having fire alarms
- Umbrella & home: a discount for bundling homeowners and umbrella insurance policies
- Seasonal home: a credit for insuring more than one home
You can ask an agent about these discounts and if you may qualify for any of them while you are getting quoted on a policy.
Wisconsin Mutual homeowners insurance premiums
There is not any known premium information available regarding Wisconsin Mutual’s homeowners insurance policies, but customers have positive things to say about their rates. Many customers state the premiums are decently low and fair. Others have even stated their rates continually go down over the years. This is a good indication if you are looking for a carrier that will allow you to save some money. It appears that Wisconsin Mutual values loyal customers and continually rewards them for remaining with the company.
Claims process
When it comes to handling claims, Wisconsin Mutual excels. Many customers have stated that the process is very easy. Not only is the company great to work with, but each step goes by fairly quickly. This allows people to easily file claims and get compensated for them with minimal issues. All of the positive reviews suggest that Wisconsin Mutual is pretty consistent with the way they handle claims.
One of the only negative reviews states that the insured’s premium went up a little after needing to file a claim, but this is fairly standard for most carriers. Otherwise, nobody had any major issues with Wisconsin Mutual after needing to file a claim. This is a good sign when you are shopping for a homeowners insurance carrier.
Customer service
Much like the way they handle claims, Wisconsin Mutual also has a great reputation on the customer service side. Many customers are happy with the level of service they have received over the last few years and remain loyal to the carrier. They are easy to communicate with and offer helpful service.
According to the NAIC, Wisconsin Mutual scores a superior 0 on the complaint code rating system. The national average is 1.0. In 2022, Wisconsin Mutual did not receive any formal complaints from its homeowners insurance clients. This showcases a superior level of customer service and proves the company to be very trustworthy.
Financial Strength
BBB
Through the Better Business Bureau, Wisconsin Mutual holds an A+ rating. This is a superior rating that deems the company very financially stable. Though, they are not currently accredited with the BBB.
AM Best
On its website, Wisconsin Mutual displays an A rating from AM Best. This is another excellent rating that shows great financial stability. In an article published in 2015, AM Best announced that they upgraded Wisconsin Mutual’s future financial outlook to positive. It was listed as stable prior.
The verdict
If you live in Wisconsin or Minnesota, Wisconsin Mutual is definitely a carrier you want to consider. They insure many different types of homes and offer policy packages that will cover each dwelling depending on how new and valuable it is. While there is limited information on the additional coverages being offered, you should be able to easily get a quote by working with a friendly and qualified agent.
The carrier has a great reputation for handling claims with ease and communicating effectively with its customers. Many people are happy with the level of service they are provided and have few negative things to say about the company. It is also suspected that Wisconsin Mutual offers great rates and rewards its loyal customers by continually lowering its prices.
