HomeInsuranceQts

Home Insurance in Illinois

Homes in Illinois carry a median value of $263,300.

The typical home in Illinois was built around 1971. About 38% of homes were built before 1960. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.

In Illinois, the housing stock is 64% single-family homes, 22% apartments in buildings with 5+ units and 2% mobile or manufactured homes. The rest are 2-4 unit or other housing types.

In Illinois, about 61% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.

Illinois has an owner-occupancy rate of 67% and a vacancy rate of 8%; unoccupied homes typically need a different coverage form.

75% of homes in Illinois are primarily heated with natural gas.

The statewide average premium for a standard HO-3 homeowners policy in Illinois is $1,480 per year, according to the NAIC homeowners insurance report (2023 data).

Key figures

Median home value$263,300
Median year built1971
Owner-occupied share67%
Share of owner-occupied homes with a mortgage61%
Home insurance premium$1,480 - statewide average (NAIC, 2023 data)

Counties

Sources