Home Insurance in Waverly, Illinois
With a median home value of $98,400, Waverly is 25% lower than the Morgan County median.
The typical home in Waverly was built around 1944. About 61% of homes were built before 1960, about 19 points above Morgan County's 42%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
In Waverly, the housing stock is 93% single-family homes, 3% apartments in buildings with 5+ units and 3% mobile or manufactured homes.
About 56% of owner-occupied homes in Waverly have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Waverly has an owner-occupancy rate of 82% and a vacancy rate of 12%; unoccupied homes typically need a different coverage form.
Most homes in Waverly - 75% - are primarily heated with natural gas.
Morgan County had 85 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is strong wind (Relatively High). See the full Morgan County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Illinois is $1,480 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $98,400 |
|---|---|
| Median year built | 1944 |
| Owner-occupied share | 82% |
| Share of owner-occupied homes with a mortgage | 56% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Morgan County | 85 |
| 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)