Home Insurance in Bowen, Illinois
The median home value in Bowen is $80,700, 29% lower than the Hancock County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Bowen was built around 1955. About 55% of homes were built before 1960, about 8 points above Hancock County's 46%.
The housing stock in Bowen is 79% single-family homes and 10% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
55% of owner-occupied homes in Bowen carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 4%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 82% of occupied homes in Bowen are owner-occupied.
Most homes in Bowen - 68% - are primarily heated with natural gas.
FEMA rates Hancock County's overall risk as Very Low, led by strong wind (Relatively Moderate). Hancock County had 60 active NFIP flood policies as of September 2026. See the full Hancock 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 | $80,700 |
|---|---|
| Median year built | 1955 |
| Owner-occupied share | 82% |
| Share of owner-occupied homes with a mortgage | 55% |
| Top county hazard | Strong Wind (Relatively Moderate) |
| Active NFIP policies in Hancock County | 60 |
| 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)