Elgin Insurance Rates:

Elgin, IL home insurance is about $658 to $893, about $54-$74/month. Our comprehensive analysis shows customers can save as much as $310 by getting multiple quotes

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Elgin Home Owner Insurance Quotes | Write a Review | Rates & Quotes Analysis
Farmers Insurance
Home Insurance Rate of $880/6 months for $300000-$350000 Coverage
Policy Holder Home Details :

Home Value : $345,000

4 Beds, 4 Bath 3170 sqft Vacation Property Constructed In 2014 with Linoleum, Slate Shingles Roof, Crawl Space Foundation, Fiber-Cement Siding, Brick Frame. Home Features Include Swimming Pool, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

63 Years old Single Male who has a Full Time Job with household income of $50-$75,000 and has 3 Pets and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 750-799 Credit Score

  • Guests at home

Home Insurance Rate of $60/1 month for $200000-$250000 Coverage
Policy Holder Home Details :

Home Value : $235,000

4 Beds, 4 Baths 2280 sqft Vacation Property Constructed In 1967 with Carpet over wood flooring, Metal Roof, Piers Foundation, Brick siding, Brick Frame. Home Features Include Central Air Conditioning, Deadbolt Locks, Copper Water Pipes, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

23 Years old Divorced Male who is a Freelancer with household income of $25-50,000 and has More than 3 Pets at home and is a Non-Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • 800-850 Credit Score

  • Guests at home

Home Insurance Rate of $1090/7 months for $600000-$700000 Coverage
Policy Holder Home Details :

Home Value : $550,000

5 Beds, 5 Baths 4920 sqft Rental Property Constructed In 1983 with Carpet over wood flooring, Asphalt Shingles Roof, Slab Foundation, Vinyl siding, Stucco Construction. Home Features Include Copper Water Pipes, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

25 Years old Single Male who is Unemployed with household income of less than $25,000 and has No Pets and is a Non-Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 550-599 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $860/9 months for $200000-$250000 Coverage
Policy Holder Home Details :

Home Value : $225,000

3 Beds, 3 Baths 1830 sqft Vacation Property Constructed In 2014 with Carpet over wood flooring, Tile Roof, Crawl Space Foundation, Vinyl siding, Metal Frame Construction. Home Features Include Fire Extinguisher, Fireplace, Central Air Conditioning, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

67 Years old Divorced Female who is Unemployed and has 2 Pets and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 500-549 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $170/2 months for $400000-$500000 Coverage
Policy Holder Home Details :

Home Value : $535,000

5 Beds, 5 Bath 4290 sqft Rental Property Constructed In 1981 with Ceramic Tile Flooring, Asphalt Shingles Roof, Chainwall Foundation, Vinyl siding, Metal Frame Construction. Home Features Include Central Air Conditioning, Fire Extinguisher, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

43 Years old Married Female who is a Freelancer with household income of $50-$75,000 and has More than 3 Pets at home and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 750-799 Credit Score

Home Insurance Rate of $120/2 months for $200000-$250000 Coverage
Policy Holder Home Details :

Home Value : $255,000

3 Beds, 3 Baths 2080 sqft Primary Residence Constructed In 2000 with Carpet Flooring, Metal Roof, Chainwall Foundation, Stone Siding, Wood Frame. Home Features Include Fire Extinguisher, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

53 Years old Divorced Female who is Unemployed with household income of less than $25,000 and has 2 Pets and is a Non-Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • 600-649 Credit Score

Home Insurance Rate of $1120/12 months for $150,000-$175,000 Coverage
Policy Holder Home Details :

Home Value : $145,000

3 Beds, 3 Baths 1474 sqft Rental Property Constructed In 1989 with Stone Flooring, Membrane Roof, Crawl Space Foundation, Vinyl siding, Wood Frame. Home Features Include Swimming Pool, Indoor Sprinklers, Smoke Alarm, Central Air Conditioning, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

31 Years old Single Male who is a Freelancer with household income of $75-$100,000 and has No Pets and is a Smoker

Additional Details :
  • 0-25% through paying our mortgage

  • 650-699 Credit Score

  • Seniors staying at home

  • Guests at home

Elgin, IL Home Insurance by Zip Code

Zip Code Median Home Value Median Homeowners Insurance
60123 $186,800 $780
60120 $179,900 $780

Elgin Rates & Quotes Analysis:

Elgin Area Estimated House Insurance
Waverly Ct S, Willoby Ln, Douglas Rd, Carmella Ln, Foxglove, Sharon Ct, Hampshire Dr, Chaparral Cir, Knoll Crest Dr, Chapel Hill Dr$762
Pondview Dr, Springhill Ct, Lucile Ave, Nina Ln, Prestbury Dr, McDonough Rd, Palisades Ln, Jones Dr, Moorehead Dr, Timber Ct$785
Buchanan Ln, Christopher Ct, Patricia Pkwy, Ford Ave, Tamarack Dr, Shawford Way, Countryfield Ln, Fox Path Ln, Mackinac Ln, Algona Ave$788
Stonehurst Dr, Little Creek Dr, Edgartown Ln, Shotkowski Dr, Truman Ln, Colchester Ave, Langtry Ct, Sebring Dr, Thornbury Rd, Longford Dr$817
Bennet Dr, Ascot Ln, Thoreau Dr, Topaz Ln, Anderson Ave, Martin Dr, Borden Dr, Houston Ave, Monarch Dr, Eagle Ct$765

Insurance rates are influenced by a number of factors including:

  • Year Built: 5,330 Homes (14% of total) built between 1970 to 1979 in Elgin are paying home insurance between $1,256-$1,267 and differs from South Elgin (+$23), Sleepy Hollow (+$104), Bartlett (+$82), Carpentersville (-$13) and Genoa (-$14).
  • Bedrooms: 6,386 4 bedrooms homes (17% of total homes ) in Elgin are paying about $1,030. Areas near to Elgin such as South Elgin, Sleepy Hollow, Bartlett are costlier by $19, $85, $67 respectively whereas Carpentersville and Genoa are more economical by $10, $12 respectively for similar homes.
  • Auto Insurance Bundling: 6,291 Households (25% of all households) in Elgin have 3 or more vehicles available and when it is bundled with home insurance you can save $193 and varies from South Elgin ($197), Sleepy Hollow ($209), Bartlett ($206).
  • Senior Discounts: 9,760 seniors (more than 55 years) occupied housing units (39% of total) in Elgin get discounts between $116 to $118 compared to South Elgin ($118), Sleepy Hollow ($125), Bartlett ($123).
  • New Homes discounts: New homes such as the 14,622 homes built between 2000 to 2009 in Elgin can save $155 and similar new home insurance discounts in nearby towns and cities like South Elgin, Sleepy Hollow and Bartlett are $157, $167 and $165 respectively.

Elgin Homeowners insurance Facts

  • Elgin, IL has 24,981 owner occupied houses which is 70.8% of all units whereas South Elgin, Sleepy Hollow and Bartlett have 90.36%, 91.1% and 88.2% respectively.
  • Elgin, IL homeowners yearly insurance price at $775 is 0.41% of the typical house value of $190,700 which is in contrast with 0.36% in South Elgin, 0.26% at Sleepy Hollow & 0.28% in Bartlett.
  • Homeowners in Elgin, IL pay 2.38% of their income ($30,000 to $34,999) in insurance whereas homeowners in South Elgin, Sleepy Hollow and Bartlett pay 2.43%, 2.58% and 2.54% respectively.
  • Elgin, IL’s insurance is 3.6% of monthly housing costs of $1,796/month, for owners with a mortgage compared to 3.35% in South Elgin, 2.7% at Sleepy Hollow & 2.98% in Bartlett. But, for households without a mortgage, insurance is 9.6% of costs ($675 in Elgin, IL) in contrast with 9.43% in South Elgin, 8.33% at Sleepy Hollow & 8.81% in Bartlett.

Elgin, IL Home Values & Insurance rates

For example, insurance for 245 Homes (1.0% of total homes ) valued between $50,000 to $59,999 in Elgin, IL is about $209. Rates in nearby areas in such as West Dundee, Trout Valley, Hampshire are cheaper by $54, $103, $48 respectively while Holiday Hills and Sycamore are costlier by $27 and $13 respectively for similar homes.

Elgin, IL Home By Value Total Homes % of Total Average Homeowners Insurance
Less than $50,000 790 3.0% $100
$50,000 to $59,999 245 1.0% $209
$80,000 to $89,999 285 1.0% $341
$90,000 to $99,999 455 1.0% $379
$100,000 to $124,999 2,117 8.0% $441
$125,000 to $149,999 2,285 9.0% $558
$150,000 to $174,999 3,679 15.0% $658
$175,000 to $199,999 3,556 14.0% $759
$200,000 to $249,999 4,627 19.0% $914
$250,000 to $299,999 2,895 12.0% $1116
$300,000 to $399,999 2,645 11.0% $1418

Renters Insurance in Elgin

  • Average Renters Insurance in Elgin :  $126($10/month)

  • Median Gross Rent in Elgin :  $915

  • Elgin Renters Insurance to Median Rent Ratio:  1.09%

  • Renter occupied housing units in Elgin :  10,320

Elgin Renters Insurance as a Percentage of Rent

Elgin Home By Monthly Rent Total Homes % of Total Estimated Monthly Income To Afford Rented House Including Renters Insurance
Less than $200 110 1.0% $331
$200 to $299 360 3.0% $781
$300 to $499 518 5.0% $1231
$500 to $749 1,680 16.0% $1906
$750 to $999 3,314 33.0% $2656
$1,000 to $1,499 2,982 29.0% $3781
$1,500 or more 1,032 10.0% $5431

Rent Affordability in Elgin:

Approximately 48.0% (5,040) of households are spending more than 35% of their income on gross rent in Elgin

Occupied units paying gross rent Total Households % of Total
Less than 15.0 percent 793 7.0%
15.0 to 19.9 percent 1,175 11.0%
20.0 to 24.9 percent 1,142 11.0%
25.0 to 29.9 percent 1,190 11.0%
30.0 to 34.9 percent 980 9.0%
35.0 percent or more 5,040 48.0%

Elgin Renters Insurance Discounts:

Elgin Renters Insurance Discounts by Number of Vehicles in Renter Occupied Housing Units

Number of Vehicles in Elgin, IL Number of Housing Units % of Total Renters Insurance Insurance Savings by Bundling Auto Insurance
1 vehicle available 4,991 48.0% $12.6
2 vehicles available 2,944 28.0% $18.9
3 or more vehicles available 894 8.0% $25.2

Protective device discount in Elgin Up to :  $18

Claims-free discount in Elgin Up to :  $25