Palatine ,IL Home Insurance - The cost of homeowners insurance is influenced by a range of factors, including the value of your coverage, deductible, and the construction materials used in your home.
VHome Insurance conducted a thorough analysis of the Palatine, IL homeowners insurance market, taking into account factors like average costs, range of coverages, deductibles and customer satisfaction ratings to determine the best providers. The Average home insurance cost in Palatine, IL is $2132. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Palatine, IL. VHome Insurance will help you navigate the world of homeowners insurance coverages in Palatine, IL.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $853 |
| $200,000 | $1,450 |
| $300,000 | $1,791 |
| $400,000 | $2,729 |
| $500,000 | $3,433 |
One key aspect of your policy is the deductible, which is the amount you pay out of pocket before your insurance kicks in. Choosing the right deductible can have a major impact on your insurance premiums and overall savings. In this guide, we'll help you understand the options available for homeowners insurance deductibles in Palatine, IL, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $2,186 |
| $1000 Deductible | $1,955 |
| $1500 Deductible | $1,844 |
| $2500 Deductible | $1,663 |
| $5000 Deductible | $1,407 |
| Home Insurance Company Near Palatine, IL | Homeowners Insurance Agency Near Palatine, IL | Address |
|---|---|---|
| NA | Erland Insurance Agency | 1000 Hart Rd., Ste 215 , Barrington, IL, 60010 |
| State Farm | Brian Mcinerney | 1329 N Main St, Wheaton, IL, 60187-3579 |
| Travelers | Iaa-Barrington Insurance Associates | 836 S NORTHWEST HGWY, BARRINGTON, IL, 60010 |
| State Farm | Jae Lee | 4034 W Lawrence Ave, Chicago, IL, 60630-2825 |
| Travelers | Woodman Cison & Associates Llc | 1301 S WOLF RD STE 403/404, PROSPECT HEIGHTS, IL, 60070 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Inverness village, Illinois | $125 | $166 | $249 |
| Rolling Meadows city, Illinois | $101 | $134 | $201 |
| Deer Park village, Illinois | $120 | $160 | $240 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Palatine, IL | 3.3% | 8.9% |
| Inverness | 2.21% | 8.31% |
| Rolling Meadows | 3.62% | 10.15% |
| Deer Park | 2.49% | 8.0% |
| Palatine Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| $200 to $299 | 124 | 1.0% | $753 |
| $500 to $749 | 393 | 3.0% | $1878 |
| $750 to $999 | 3,499 | 29.0% | $2628 |
| $1,000 to $1,499 | 5,842 | 49.0% | $3753 |
| $1,500 or more | 1,722 | 14.0% | $5403 |
| Streets in Palatine Area | Homeowners Insurance Cost |
|---|---|
| Rywick Ct, W Camphill Cir, Country Club Ct, E Lake Dr, E Wyndham Cir, Suffolk Ct, Austin Ln, S Jamestown Dr, Wren Ave, Galena Ct | $915 |
| Bridgton on Asbury, S Elmwood Ln, Chatham Dr, Stone Harbor Ct, Apple Tree Ct, Chelsea on Auburn, N Kitson Dr, N Sunset Rd, North St, Brush Rd | $901 |
| N Stark Dr, Williams Ct, Perry Dr, Pirates Cove, E Sanborn Dr, Grove Rd, W Cheryl Ln, N Poplar St, S Stuart Ln, W Willow Rd | $822 |
| Cedar Glen Dr, N Westminster Dr, Brookside Ln, Durham Dr, N Barrington Woods Rd, W Raleigh Ct, W Blackburn Dr, Knoxboro Ln, Skye Ln, Wyndham Ct | $942 |
| Mart Ct, Castaway Ln, E Castle Ct, Alton, Owl Ln, Pride Ct, Jessica Ct, N Baldwin Ct, W Glencoe Rd, Heritage Cir | $838 |
| W Reading Ct, Aberdeen Rd, Haven Wood Ct, Rhiannon Ct, Green Ln N, N Broadmoor Ct, S Valley Ln, Fairway Ct, W Wilson St, Carberry Cir | $846 |
| E Kitson Dr, Saint George Ln, Hammond Dr, E Carriage Ln, W Echo Ln, W Dupont Ave, W Peregrine Dr, Ardmore Ave, Freeman Rd, Greenwich Ct | $852 |
| Kittery on Auburn, S Rohlwing Rd, Marie Dr, Silver Pine Dr, Winston Pl, Wren Ln, W Carolyn Dr, Driftwood Ave, W King Arthur Ct, W Kelly Ann Dr | $916 |
| E Morris Dr, E Juniper Dr, Chewink Ct, N Dewey Rd, Rochester Dr, W Mallard Dr, W Glencoe Rd, N Milton Rd, Redbud Rd, S Bristol Ct | $945 |
| Gull Ct, S Poteet Ave, W Slade St, S Valley Rd, E Shady Dr, S Echo Ln, Prestwick Dr, Wainright Ct, Wilshire Ct, Bedlington Dr | $848 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Palatine | $123 to $126 |
| Inverness | $149 |
| Rolling Meadows | $120 |
| Deer Park | $144 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $500 | $3,500 |
| Yearly Palatine Homeowner Insurance Premium Example | $2,200 | $1,600 |
| Out of Pocket Expense During Claim | $500 | $3,500 |
| Total Home Insurance Premium for 8 years + Out of Pocket Expense for Claim | $18,100 | $16,300 |
| Net Savings to Palatine Home Owner from High Deductible Plan | $1,800 | |
| Scenario | Palatine, IL Home Replacement Value MORE than Home Value | Palatine, IL Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $364,000 | $249,500 |
| Insurance Premium based on Replacement Value | $1,650 | $1,125 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $78,500 | Risk Exposure from Under Insuring Coverage is $36,000 |
| Premium Impact | Insurance cheaper by $175/year | Insurance costlier by $350/year |
| Insurance Company | Liberty Mutual | Travelers | Nationwide Insurance |
| Monthly Premium | 51 | 115 | 119 |
| Year Built | 1965 | 1988 | 1996 |
| Home Details | 2 Beds, 1 Baths | 4 Beds, 1 Baths | 3 Beds, 1 Baths |
| Coverage Amount | $150000-$175000 | $400000-$500000 | $250000-$300000 |
| Deductible | $1000-$2500 Deductible | > $10,000 Deductible | $500- $1000 Deductible |