Home Insurance in Colchester, Illinois
With a median home value of $91,700, Colchester is 15% lower than the McDonough County median.
The typical home in Colchester was built around 1960. About 50% of homes were built before 1960, about 7 points above McDonough County's 43%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
The housing stock in Colchester is 89% 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 Colchester, about 51% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 13%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 74% of occupied homes in Colchester are owner-occupied.
78% of homes in Colchester are primarily heated with natural gas.
What's the biggest home insurance risk near Colchester? FEMA's National Risk Index points to hail (Relatively Moderate) in McDonough County and McDonough County had 8 active NFIP flood policies as of September 2026. See the full McDonough 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 | $91,700 |
|---|---|
| Median year built | 1960 |
| Owner-occupied share | 74% |
| Share of owner-occupied homes with a mortgage | 51% |
| Top county hazard | Hail (Relatively Moderate) |
| Active NFIP policies in McDonough County | 8 |
| 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)