Home Insurance in Tower Lakes, Illinois
Homes in Tower Lakes carry a median value of $510,300 - 48% higher than the Lake County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Tower Lakes was built around 1965. About 40% of homes were built before 1960, about 19 points above Lake County's 21%.
Housing in Tower Lakes breaks down to 100% single-family homes.
71% of owner-occupied homes in Tower Lakes carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 97% of occupied homes in Tower Lakes are owner-occupied. The vacancy rate is 2%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Tower Lakes - 94% - 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.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Illinois carries a statewide average premium of $1,480 per year.
Key figures
| Median home value | $510,300 |
|---|---|
| Median year built | 1965 |
| Owner-occupied share | 97% |
| 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
- Lake Barrington
- North Barrington
- Port Barrington
- Wauconda
- Fox River Grove
- Lake Zurich
- Island Lake
- Hawthorn Woods
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)