Home Insurance in Island Lake, Illinois
Homes in Island Lake carry a median value of $262,500 - 15% lower than the McHenry County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Island Lake was built around 1990. About 19% of homes were built before 1960, in line with McHenry County (18%).
The housing stock in Island Lake is 97% single-family homes, 2% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
67% of owner-occupied homes in Island Lake carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 83% of occupied homes in Island Lake are owner-occupied. The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Island Lake - 95% - are primarily heated with natural gas.
McHenry County's top FEMA-rated hazard is tornado (Relatively High), per FEMA's National Risk Index. McHenry County had 789 active NFIP flood policies as of September 2026. See the full McHenry 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 | $262,500 |
|---|---|
| Median year built | 1990 |
| Owner-occupied share | 83% |
| Share of owner-occupied homes with a mortgage | 67% |
| Top county hazard | Tornado (Relatively High) |
| Active NFIP policies in McHenry County | 789 |
| 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)