FACT SHEET: Wisconsin’s Insurance Crisis
Last Updated: 8/28/25
Climate change is pushing property insurance companies to raise rates and cancel policies in Wisconsin. Between 2019 and 2024, home insurance rates in the Badger State increased by 39%, and the non-renewal rate increased by 75% between 2020 and 2023. The increasing risk of storms in the state is a major driver of Wisconsin’s home insurance crisis. Trump’s cuts to emergency preparedness and response, alongside his far-reaching tariffs, will make Wisconsin’s home insurance crisis even worse.
- WISCONSIN’S HOME INSURANCE RATES HAVE SOARED IN RECENT YEARS, AND COSTS CONTINUE TO GROW
- INSURERS ARE REFUSING TO RENEW HOMEOWNERS’ POLICIES OR ARE PULLING OUT OF WISCONSIN’S INSURANCE MARKET ALTOGETHER
- CLIMATE CHANGE AND EXTREME WEATHER ARE DRIVING WISCONSIN’S INSURANCE CRISIS
- TRUMP WILL MAKE WISCONSIN’S INSURANCE CRISIS EVEN WORSE
WISCONSIN’S HOME INSURANCE RATES HAVE SOARED IN RECENT YEARS, AND COSTS CONTINUE TO GROW
- Between 2019 and 2024, home insurance rates in Wisconsin increased by 39%.
- In 2024 alone, home insurance rates in Wisconsin increased by 16%, placing the state among the top 10 for rate increases.
- From 2021 to 2024, homeowner insurance premiums in Milwaukee increased by 20%, $296 annually.
- Wisconsin was projected to see insurance rate increases in 2025, with the average annual premium expected to increase by $158, or 8%.
INSURERS ARE REFUSING TO RENEW HOMEOWNERS’ POLICIES OR ARE PULLING OUT OF WISCONSIN’S INSURANCE MARKET ALTOGETHER
- From 2020 to 2023, the nonrenewal rate in Wisconsin increased by 75%.
- From 2020 to 2023, the number of nonrenewals in Wisconsin almost doubled from 3,571 to 6,183.
- In 2024, Pekin Insurance said it had paused writing homeowner insurance policies in Wisconsin due to the increased severity and frequency of storms.
- A 2025 report found that 13% of Wisconsin homes were uninsured, 212,888 total.
CLIMATE CHANGE AND EXTREME WEATHER ARE DRIVING WISCONSIN’S INSURANCE CRISIS
- Since 2000, wind and hail storms have become more damaging across the Midwest.
- From 2018 to 2022, the frequency of home insurance claims grew 4,558% and 4,074% in Greenville and Hortonville in Wisconsin’s Outagamie County.
- In 2024, 273,400 Wisconsin properties were at substantial flood risk. By 2050, that number was set to increase to 281,100.
- In 2025, severe thunderstorms were hiking home insurance premiums across the Midwest, including Wisconsin.
TRUMP WILL MAKE WISCONSIN’S INSURANCE CRISIS EVEN WORSE
- Trump’s tariffs were expected to increase home insurance costs in Wisconsin by $62.
- Tariffs were expected to slow down disaster recovery efforts and make them more expensive. The National Association of Home Builders estimates a cost increase of $10,900 per home due to tariffs on construction materials.
- Trump’s cuts to disaster relief at the Department of Housing and Urban Development and attempts to disband FEMA would also increase the cost of home insurance.
- FEMA also administers the National Flood Insurance Program (NFIP), which provides coverage for more than 4.7 million homeowners who otherwise could not obtain coverage.