HomeInsuranceQts

Home Insurance in Panola, Illinois

The median home value in Panola is $147,200, 26% lower than the Woodford County median.

The typical home in Panola was built around 2004. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 20% of homes were built before 1960, about 16 points below Woodford County's 36%.

In Panola, the housing stock is 100% single-family homes.

In Panola, about 70% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.

All occupied homes in Panola are owner-occupied.

Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 100% of homes in Panola are primarily heated with propane.

FEMA rates Woodford County's overall risk as Very Low, led by earthquake (Very Low). Woodford County had 104 active NFIP flood policies as of September 2026. See the full Woodford County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.

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$147,200
Median year built2004
Owner-occupied share100%
Share of owner-occupied homes with a mortgage70%
Top county hazardEarthquake (Very Low)
Active NFIP policies in Woodford County104
Home insurance premium$1,480 - statewide average (NAIC, 2023 data)
Key home insurance figures for Panola, IL

Nearby towns

Sources

Data last updated: 2026-09-29