ZIP 62977 Insurance Data

Data Snapshot: ZIP 62977 (Raleigh, IL)

ZIP 62977 (Raleigh, IL) shows an average homeowners insurance premium of $1,963 per year as of 2022, based on U.S. Treasury FIO ZIP-level observations across approximately 13 reported policies. That is 11% above the national average of $1,776 per year, placing this ZIP in the 74th percentile nationally. Compared to the Illinois state average of $1,631, this ZIP runs 20% above, reflecting neighborhood-level differences in catastrophe exposure, property age, and claims history.

The loss ratio for ZIP 62977 is 36.3%, meaning insurers retained a working margin after claims. Claim frequency — the share of policies with at least one claim — is 2.27%, and the average claim severity (amount paid per claim) is $31,384.

Across 5 years (2018–2022), premiums in ZIP 62977 have fallen by 0.3%, ranging from $1,897 to $2,115 with a five-year average of $1,992 — an annualized rate of -0.1% 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.