Home Insurance in Philo, Illinois
Homes in Philo carry a median value of $205,400 - close to the Champaign County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Philo was built around 1968. About 39% of homes were built before 1960, about 16 points above Champaign County's 24%.
Housing in Philo breaks down to 99% single-family homes.
About 68% of owner-occupied homes in Philo have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Philo has an owner-occupancy rate of 90% and a vacancy rate of 5%; unoccupied homes typically need a different coverage form.
In Philo, 75% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near Philo? FEMA's National Risk Index points to winter weather (Relatively High) in Champaign County and Champaign County had 217 active NFIP flood policies as of September 2026. See the full Champaign County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Illinois, the statewide average premium for a standard HO-3 homeowners policy is $1,480 per year (NAIC, 2023 data).
Key figures
| Median home value | $205,400 |
|---|---|
| Median year built | 1968 |
| Owner-occupied share | 90% |
| Share of owner-occupied homes with a mortgage | 68% |
| Top county hazard | Winter Weather (Relatively High) |
| Active NFIP policies in Champaign County | 217 |
| Home insurance premium | $1,480 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)