ZIP 60470 Insurance Data

Data Snapshot: ZIP 60470 (Ransom, IL)

ZIP 60470 (Ransom, IL) shows an average homeowners insurance premium of $1,672 per year as of 2022, based on U.S. Treasury FIO ZIP-level observations across approximately 6 reported policies. That is 6% below the national average of $1,776 per year, placing this ZIP in the 58th percentile nationally. Compared to the Illinois state average of $1,631, this ZIP runs 2% above, reflecting neighborhood-level differences in catastrophe exposure, property age, and claims history.

The loss ratio for ZIP 60470 is 360.0%, meaning insurers paid out more in claims than they collected — a signal that premiums may rise or carriers may exit. Claim frequency — the share of policies with at least one claim — is 3.92%, and the average claim severity (amount paid per claim) is $153,460.

Across 5 years (2018–2022), premiums in ZIP 60470 have risen by 13.2%, ranging from $1,464 to $1,672 with a five-year average of $1,571 — an annualized rate of +3.1% per year. FIO data aggregates voluntary reporting from the 40 largest homeowners insurers, covering roughly 80% of the U.S. market, so figures represent market averages rather than individual policy quotes; your own premium will vary with dwelling value, deductible, coverage limits, construction type, and insurer-specific underwriting. This page is educational research only and is not insurance advice — homeowners should request quotes from multiple licensed carriers or an independent agent before purchasing or renewing coverage.