Home Insurance in Old Mill Creek, Illinois
The median home value in Old Mill Creek is $450,000, 30% higher than the Lake County median.
The typical home in Old Mill Creek was built around 1944. About 65% of homes were built before 1960, about 44 points above Lake County's 21%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Old Mill Creek, the housing stock is 99% single-family homes.
About 71% of owner-occupied homes in Old Mill Creek have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 44% of occupied homes in Old Mill Creek are owner-occupied. The vacancy rate is 17%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in Old Mill Creek - 81% - are primarily heated with natural gas.
Lake County's top FEMA-rated hazard is tornado (Very High), per FEMA's National Risk Index. Lake County had 2,078 active NFIP flood policies as of September 2026. See the full Lake 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 | $450,000 |
|---|---|
| Median year built | 1944 |
| Owner-occupied share | 44% |
| Share of owner-occupied homes with a mortgage | 71% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Lake County | 2,078 |
| 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)