ZIP 62988 Insurance Data

Data Snapshot: ZIP 62988 (Tamms, IL)

ZIP 62988 (Tamms, IL) shows an average homeowners insurance premium of $1,775 per year as of 2022, based on U.S. Treasury FIO ZIP-level observations across approximately 13 reported policies. That is 0% below the national average of $1,776 per year, placing this ZIP in the 65th percentile nationally. Compared to the Illinois state average of $1,631, this ZIP runs 9% above, reflecting neighborhood-level differences in catastrophe exposure, property age, and claims history.

The loss ratio for ZIP 62988 is 8.8%, meaning insurers retained a working margin after claims. Claim frequency — the share of policies with at least one claim — is 3.03%, and the average claim severity (amount paid per claim) is $5,157.

Across 5 years (2018–2022), premiums in ZIP 62988 have risen by 14.4%, ranging from $1,545 to $1,826 with a five-year average of $1,669 — an annualized rate of +3.4% 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.