Illinois Homeowners Insurance

U.S. Treasury FIO data for 1,191 ZIP codes in Illinois (IL).

Homeowners in Illinois pay an average of $1,631 per year for home insurance — 8% below the national average of $1,776. That ranks Illinois as the 28th most expensive state out of 51 for homeowners insurance. Between 2018 and 2022, premiums rose by 14.1%.

On five-year premium growth (2018–2022), Illinois ranks 6th out of 51 states. Its nonrenewal rate (1.03%) ranks 25th out of 50 — nonrenewal is an early warning indicator of insurer retreat, often tied to disaster risk.

Source: U.S. Department of the Treasury, Federal Insurance Office — "Analyses of U.S. Homeowners Insurance Markets, 2018–2022." Premium values are five-year averages across all ZIP-level observations. See methodology for caveats.

Avg Premium
$1,631/yr
National avg: $1,776 (-8% below)
Premium Change
+14.1%
2018-2022 change
Avg Loss Ratio
50.3%
Claims paid vs premiums earned
Nonrenewal Rate
1.03%
-4.9% change

Data Snapshot: Illinois Homeowners Insurance

Illinois homeowners paid an average of $1,631 per year for home insurance based on U.S. Treasury FIO data covering 1,191 ZIP codes across the state. That is 8% below the national average of $1,776 per year reported by the Federal Insurance Office. Illinois ranks 28th most expensive out of 51 states and territories on annual premium, with ZIP-level observations ranging from $1,039 in 61367 to $5,978 in 60611.

Between 2018 and 2022, average premiums rose by 14.1% in Illinois, placing the state 6th nationally on five-year premium growth. The state-level loss ratio averaged 50.3%, meaning insurers retained a healthy margin after claims, typical of stable markets. Nonrenewal rates — the share of policies insurers decline to extend at expiration — averaged 1.03%, a decline of 4.9% over the study period (ranking 25th out of 50 states).

Within Illinois, premium dispersion across ZIP codes is substantial: the most expensive ZIP (60611 in Chicago) charges 476% more than the least expensive (61367 in Sublette), reflecting local differences in catastrophe exposure, construction costs, and claims history. The FIO dataset aggregates voluntary reporting from the 40 largest homeowners insurers covering roughly 80% of the U.S. market, so ZIP-level figures represent market averages rather than individual quotes; actual premiums vary with dwelling value, deductible, coverage limits, and insurer-specific underwriting. This page is for educational research only and is not insurance advice — homeowners should obtain quotes from multiple licensed carriers or an independent agent before purchasing or renewing coverage.

Loss Ratio Reading: Illinois

0%150%50%

Illinois statewide — FIO 2018-2022 average: 50% (Insurer-favorable) — low claim payout — insurer retains a healthy margin.

ZIP Codes Tracked

1,191

Reporting Period

2018-2022

Source

U.S. Treasury FIO

Premium Trends (2018-2022)

Year Avg Premium Median Premium
2018 $1,430 $1,362
2019 $1,474 (+3.1%) $1,405
2020 $1,537 (+4.2%) $1,462
2021 $1,585 (+3.1%) $1,515
2022 $1,631 (+2.9%) $1,564

Average Premium by Year

$1,430
2018
$1,474
2019
$1,537
2020
$1,585
2021
$1,631
2022

All ZIP Codes in Illinois

1,191 ZIP codes sorted by premium (highest first). Click column headers to sort.

ZIP City Premium
60611 Chicago $5,978
60654 Chicago $5,862
60610 Chicago $5,123
60043 Kenilworth $5,043
60022 Glencoe $4,752
60614 Chicago $4,636
60093 Winnetka $4,367
60045 Lake Forest $4,300
60521 Hinsdale $3,538
60523 Oak Brook $3,535
60657 Chicago $3,251
60029 Golf $3,228
60035 Highland Park $3,217
60615 Chicago $3,211
60184 Wayne $3,171
60613 Chicago $3,085
60010 Barrington $2,954
60637 Chicago $2,900
60622 Chicago $2,869
60624 Chicago $2,807
60644 Chicago $2,753
60653 Chicago $2,751
60305 River Forest $2,722
60015 Deerfield $2,703
60621 Chicago $2,700
60091 Wilmette $2,649
60044 Lake Bluff $2,648
60649 Chicago $2,630
60527 Willowbrook $2,572
60612 Chicago $2,561
60069 Lincolnshire $2,470
60605 Chicago $2,438
60062 Northbrook $2,427
60651 Chicago $2,424
60640 Chicago $2,416
60461 Olympia Fields $2,409
60026 Glenview $2,404
60607 Chicago $2,400
60302 Oak Park $2,371
60175 Saint Charles $2,354
60422 Flossmoor $2,343
60642 Chicago $2,334
60047 Lake Zurich $2,307
60201 Evanston $2,297
60647 Chicago $2,272
60514 Clarendon Hills $2,247
60558 Western Springs $2,221
60636 Chicago $2,214
60048 Libertyville $2,179
60203 Evanston $2,169

Frequently Asked Questions

What is the average homeowners insurance cost in Illinois?
The average homeowners insurance premium in Illinois is $1,631 per year, based on U.S. Treasury FIO data covering 1,191 ZIP codes. This is 8% below the national average of $1,776.
How have insurance premiums changed in Illinois?
Illinois homeowners insurance premiums changed by +14.1% between 2018 and 2022. The average loss ratio is 50.3%, meaning insurers pay out that percentage of earned premiums in claims.
Which ZIP code has the most expensive insurance in Illinois?
The most expensive ZIP code for homeowners insurance in Illinois is 60611, with an average premium of $5,978/yr. The most affordable is 61367 at $1,039/yr.
What is the nonrenewal rate for Illinois homeowners insurance?
The average nonrenewal rate in Illinois is 1.03%. This rate has changed by -4.9% from 2018 to 2022. Nonrenewals occur when an insurer declines to renew an existing policy at expiration. ZIP 62831 has the highest nonrenewal rate in the state at 5.62%.
What is a loss ratio and what does Illinois's mean?
A loss ratio measures how much an insurer pays out in claims compared to premiums collected. Illinois's average loss ratio is 50.3%. Ratios above 100% indicate insurers are paying more in claims than they collect, which often leads to premium increases.
How often do homeowners file insurance claims in Illinois?
The average claim frequency in Illinois is 5.28%, meaning that percentage of policies result in a claim each year. The average claim severity (cost per claim) is $15,401. Higher claim frequency and severity typically correlate with higher premiums.

Source: U.S. Department of the Treasury, Federal Insurance Office (FIO) Homeowners Insurance Data (2018-2022). Premiums are ZIP-level averages and may not reflect individual policy costs U.S. Department of the Treasury, Federal Insurance Office (FIO) Homeowners Insurance Data (2018-2022). Premiums are ZIP-level averages and may not reflect individual policy costs

Related

Data sourced from official U.S. government datasets. See our methodology for details. Retrieved and formatted by PlainInsure Editorial

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