Elgin, IL homeowners 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. Enter your zipcode below and click “GO” to get multiple free quotes.
In Elgin, Illinois, homeowners pay an average home insurance rate of $833. Elgin homeowners can use the discounts offered by home insurance companies to reduce their home insurance rates. Below is a list of the discounts provided to Elgin homeowners that they can take advantage of to save on home insurance.
Newly constructed Elgin homes can avail of discounts of up to $208 on homeowners insurance. New homes have a low propensity to damage. As a result, home insurance companies offer substantial discounts to newly built homes. In contrast, older homes attract higher insurance rates. Elgin homes older than 40 and 50 years receive an additional charge of $22 and $40, respectively, on home insurance.
Home insurance companies consider the lifestyle of homeowners to determine insurance rates. If all the household residents are non-smokers, insurance companies offer special discounts on home insurance rates. Elgin homeowners who own a swimming pool can attract an additional insurance cost of up to $50. Installing a fence around the pool with self-latching and self-closing gates will help homeowners receive discounts from home insurance companies. Additionally, senior citizens in Elgin also receive discounts on home insurance.
Although most of the factors to avail discounts are not under the purview of homeowners, they can still benefit by choosing deductibles to reduce home insurance rates. Homeowners can avail of attractive discounts by opting for higher deductibles. Elgin homeowners opting for a high deductible of $2,500 can avail of a discount of $234 on homeowners insurance. Homeowners receive discounts of $196 and $132, respectively, on deductibles of $2,000 and $1,500.
Home insurance companies provide discounts to homeowners who have a claims-free history. On the other hand, homeowners with prior claims can attract an additional charge on their home insurance premiums. The cost of home insurance in Elgin increases by up to 44% based on the nature and number of claims. Elgin homeowners who have a history of two fire claims and two water claims attract an additional charge of $349 and $274, respectively.
Elgin, IL Home Value | Total Homes | % of Total | Average Elgin, IL 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 |
Home Insurance Company Near Elgin, IL | Homeowners Insurance Agency Near Elgin, IL | Address |
---|---|---|
Travelers | Fox Valley Insurance Center | 2 GREEN HILLS CT, SUGAR GROVE, IL, 60554 |
Farmers | George Behr | 530 Barron Blvd Ste B, Grayslake, IL, 60030 |
State Farm | Marguerita Morgan | 515 E 79th St, Chicago, IL, 60619-3001 |
State Farm | Mike Lucas | 204 Genesis Dr, North Aurora, IL, 60542-2701 |
State Farm | Tim Park | 361 Bonnie Ln, Elk Grove Vlg, IL, 60007-1915 |
Streets in Elgin Area | Homeowners Insurance Cost |
---|---|
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 |
Place | Savings For Senior Occupied Homes |
---|---|
Elgin | $116 to $118 |
South Elgin | $118 |
Sleepy Hollow | $125 |
Bartlett | $123 |
Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
---|---|---|---|
South Elgin village, Illinois | $99 | $131 | $197 |
Sleepy Hollow village, Illinois | $105 | $139 | $209 |
Bartlett village, Illinois | $103 | $137 | $206 |
Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
---|---|---|
Elgin, IL | 3.6% | 9.6% |
South Elgin | 3.35% | 9.43% |
Sleepy Hollow | 2.7% | 8.33% |
Bartlett | 2.98% | 8.81% |
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 |
Low Deductible | High Deductible | |
---|---|---|
Deductible | $1,100 | $4,100 |
Yearly Elgin Homeowner Insurance Premium Example | $2,100 | $1,500 |
Out of Pocket Expense During Claim | $1,100 | $4,100 |
Total Home Insurance Premium for 8 years + Out of Pocket Expense for Claim | $17,900 | $16,100 |
Net Savings to Elgin Home Owner from High Deductible Plan | $1,800 |
Scenario | Elgin, IL Home Replacement Value MORE than Home Value | Elgin, IL Home Replacement Value LESS than Home Value |
---|---|---|
Replacement Value | $286,500 | $194,500 |
Insurance Premium based on Replacement Value | $1,700 | $1,150 |
Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $61,500 | Risk Exposure from Under Insuring Coverage is $30,500 |
Premium Impact | Insurance cheaper by $200/year | Insurance costlier by $350/year |
Insurance Company | Chubb Group of Insurance | Erie Insurance | Liberty Mutual |
Monthly Premium | 70 | 75 | 319 |
Year Built | 2002 | 1964 | 1989 |
Home Details | 3 Beds, 2 Baths | 4 Beds, 1 Baths | 5 Beds, 3 Baths |
Coverage Amount | $175000-$200000 | $300000-$350000 | $600000-$700000 |
Deductible | $1000-$2500 Deductible | > $10,000 Deductible | $500 Deductible |
Year Built | Home Value | Roof Type | Sqft | Number of Bedrooms | Deductible | Premium | Premium Months | Siding Type | Smoker/Non Smoker |
---|---|---|---|---|---|---|---|---|---|
1984 | 290,000 | Membrane Roof | 2,370 | 3 | $1000-$2500 Deductible | 400 | 3 | Stone Siding | yes |
1941 | 240,000 | Metal Roof | 2,560 | 4 | > $10,000 Deductible | 170 | 3 | Wood siding | No |
1991 | 285,000 | Membrane Roof | 3,300 | 4 | $2500-$5000 Deductible | 580 | 6 | Stucco siding | No |
2006 | 330,000 | Slate Shingles Roof | 3,130 | 4 | $500- $1000 Deductible | 1100 | 7 | Fiber-Cement Siding | No |
2009 | 260,000 | Asphalt Shingles Roof | 2,610 | 5 | > $10,000 Deductible | 360 | 6 | Wood siding | No |
2010 | 360,000 | Metal Roof | 2,830 | 4 | $500 Deductible | 1180 | 8 | Stucco siding | No |
1949 | 295,000 | Metal Roof | 2,350 | 3 | $2500-$5000 Deductible | 850 | 10 | Wood siding | No |
1990 | 420,000 | Tile Roof | 4,690 | 5 | $500 Deductible | 170 | 1 | Stone Siding | No |
1968 | 220,000 | Membrane Roof | 1,730 | 5 | $5000 to $10,000 Deductible | 710 | 12 | Stone Siding | yes |
1993 | 260,000 | Membrane Roof | 2,020 | 3 | $2500-$5000 Deductible | 110 | 1 | Brick siding | yes |
1942 | 220,000 | Membrane Roof | 2,070 | 4 | $500- $1000 Deductible | 320 | 4 | Brick siding | yes |
1947 | 225,000 | Wood Shake Roof | 1,770 | 4 | $1000-$2500 Deductible | 80 | 1 | Vinyl siding | No |
1941 | 170,000 | Shingles Roof | 1,620 | 4 | $500- $1000 Deductible | 120 | 2 | Stucco siding | yes |
2012 | 215,000 | Slate Shingles Roof | 1,820 | 4 | $500- $1000 Deductible | 830 | 10 | Stucco siding | No |
2013 | 245,000 | Metal Roof | 2,150 | 3 | > $10,000 Deductible | 640 | 10 | Stone Siding | yes |
2007 | 165,000 | Slate Shingles Roof | 1,720 | 5 | $2500-$5000 Deductible | 430 | 7 | Brick siding | No |
1942 | 570,000 | Shingles Roof | 4,660 | 5 | $2500-$5000 Deductible | 970 | 7 | Vinyl siding | No |
2010 | 270,000 | Slate Shingles Roof | 2,590 | 4 | > $10,000 Deductible | 380 | 8 | Fiber-Cement Siding | yes |
1961 | 380,000 | Shingles Roof | 3,640 | 5 | $500- $1000 Deductible | 1000 | 6 | Stone Siding | No |
1963 | 215,000 | Shingles Roof | 1,740 | 3 | $2500-$5000 Deductible | 560 | 9 | Vinyl siding | yes |
2011 | 150,000 | Tile Roof | 1,470 | 3 | $500- $1000 Deductible | 220 | 3 | Stone Siding | No |
1960 | 255,000 | Asphalt Shingles Roof | 2,400 | 4 | > $10,000 Deductible | 590 | 12 | Fiber-Cement Siding | yes |
1963 | 150,000 | Tile Roof | 1,710 | 4 | $500- $1000 Deductible | 150 | 3 | Wood siding | No |
1993 | 360,000 | Asphalt Shingles Roof | 3,150 | 5 | > $10,000 Deductible | 90 | 1 | Wood siding | yes |
2014 | 345,000 | Slate Shingles Roof | 3,170 | 4 | $500- $1000 Deductible | 880 | 6 | Fiber-Cement Siding | yes |
1967 | 235,000 | Metal Roof | 2,280 | 4 | > $10,000 Deductible | 60 | 1 | Brick siding | No |
1983 | 550,000 | Asphalt Shingles Roof | 4,920 | 5 | > $10,000 Deductible | 1090 | 7 | Vinyl siding | No |
2014 | 225,000 | Tile Roof | 1,830 | 3 | $500- $1000 Deductible | 860 | 9 | Vinyl siding | yes |
1981 | 535,000 | Asphalt Shingles Roof | 4,290 | 5 | > $10,000 Deductible | 170 | 2 | Vinyl siding | yes |
2000 | 255,000 | Metal Roof | 2,080 | 3 | $5000 to $10,000 Deductible | 120 | 2 | Stone Siding | No |
1989 | 145,000 | Membrane Roof | 1,474 | 3 | $5000 to $10,000 Deductible | 1120 | 12 | Vinyl siding | yes |