Home Insurance in Smithfield, Illinois
The median home value in Smithfield is $58,800, 45% lower than the Fulton County median.
The typical home in Smithfield was built around 1943. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 74% of homes were built before 1960, about 24 points above Fulton County's 50%.
The housing stock in Smithfield is 92% single-family homes and 8% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Smithfield, about 45% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 90% of occupied homes in Smithfield are owner-occupied. The vacancy rate is 30%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Smithfield - 72% - are primarily heated with natural gas. Homes heated with wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Fulton County's overall risk as Relatively Low, led by hail (Relatively Moderate). Fulton County had 28 active NFIP flood policies as of September 2026. See the full Fulton County home insurance overview for all FEMA hazard ratings and flood coverage details.
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 | $58,800 |
|---|---|
| Median year built | 1943 |
| Owner-occupied share | 90% |
| Share of owner-occupied homes with a mortgage | 45% |
| Top county hazard | Hail (Relatively Moderate) |
| Active NFIP policies in Fulton County | 28 |
| 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)