Schaumburg ,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 Schaumburg, 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 Schaumburg, IL is $2098. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Schaumburg, IL. VHome Insurance will help you navigate the world of homeowners insurance coverages in Schaumburg, IL.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $839 |
| $200,000 | $1,427 |
| $300,000 | $1,762 |
| $400,000 | $2,685 |
| $500,000 | $3,378 |
Home insurance costs in Schaumburg can vary greatly based on location. The frequency of claims in your area can affect the cost of your policy. Simply put, the location of your home can significantly impact your homeowners insurance premium.
| Zipcode | Average Insurance Premium |
|---|---|
| 060192 | $2,071 |
| 60193 | $2,000 |
| 60173 | $2,017 |
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 Schaumburg, IL, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $2,151 |
| $1000 Deductible | $1,924 |
| $1500 Deductible | $1,815 |
| $2500 Deductible | $1,636 |
| $5000 Deductible | $1,385 |
| Home Insurance Company Near Schaumburg, IL | Homeowners Insurance Agency Near Schaumburg, IL | Address |
|---|---|---|
| Farmers | Eddie Funches | 3790 W 79th St, Chicago, IL, 60652 |
| State Farm | Edwin De Jesus | 4515 Hohman Ave, Hammond, IN, 46327-1520 |
| Travelers | Iaa-Kurt A Rusch | 1904 S BIRCH ST, DES PLAINES, IL, 60018 |
| State Farm | Joe Morreale | 668 Meacham Rd, Elk Grove Vlg, IL, 60007-3003 |
| Travelers | Young Kim Insurance Agency | 960 RAND RD STE 206, DES PLAINES, IL, 60016 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Roselle village, Illinois | $122 | $162 | $243 |
| Hoffman Estates village, Illinois | $122 | $162 | $243 |
| Hanover Park village, Illinois | $116 | $155 | $233 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Schaumburg, IL | 3.6% | 10.3% |
| Roselle | 3.45% | 9.95% |
| Hoffman Estates | 3.42% | 9.79% |
| Hanover Park | 3.51% | 10.24% |
| Schaumburg Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| $300 to $499 | 246 | 1.0% | $1217 |
| $500 to $749 | 255 | 1.0% | $1892 |
| $750 to $999 | 3,402 | 26.0% | $2642 |
| $1,000 to $1,499 | 6,021 | 47.0% | $3767 |
| $1,500 or more | 2,688 | 21.0% | $5417 |
| Streets in Schaumburg Area | Homeowners Insurance Cost |
|---|---|
| Kingsbury, Nature Ct, Nantucket Cove, Brent Ct, Glen Lake Rd, W Ticknor Ct, Carver Ln, Auburn Ln, Evergreen Ct, Parkview Cir W | $780 |
| Arklow Pl, Crowfoot Cir N, Michigan Ln, Highland St, Saint Claire Cir, Mohegan Ln, Oxford Cir, W Dovington Dr, Barcliffe Ln, Lancashire Ct | $828 |
| Truro Ct, Winding Run Ln, Walden Ct, Armstrong Ct, Bulrush Dr, Chaffee Ct, Wm Clifford Ln, Carmel Ct, Waterford Rd S, Patricia Ct | $833 |
| Hazel Dr, S Salem Dr, Greenhill Ln, Montclaire Cir, Prince Edward Cir, Kingsport Dr, Waban Ln, Bridgeview Pt, Stratford Dr, Amherst Ln | $830 |
| Young Cir, New Mexico Ct, Sleepy Hollow Ct, N Braintree Dr, E Greenbriar Dr, Remington Rd, Crest Ave, Meyer Rd, Manor Cir, Harvard Cir | $845 |
| Song Sparrow Ct, Bristol Walk, Grand Canyon Pkwy, W Thacker St, Fabish Ct, S Brockton Ct, Maywood Ln, S Rodenburg Rd, Grand Canyon St, Fox Run Dr | $781 |
| Saleford Dr, Schaumburg Ct, Carey Dr, Longboat Ln, Florida Ln, Larson Ln, Regatta Pt, Manchester Mnr, Chippendale Rd, Woodcroft Ct | $823 |
| Eastham Ln, Chelsea Ln, McDevitt Cir, Crandell Ln, Compton Ln, Jones Rd, Cooper Ct, Glendale Ln, Newcastle Ln, Scarbrough Cir | $781 |
| Evening Song Ct, Glouchester Harbor, Cambridge Ln, Pebblebrook Ln, Juli Dr, Woodbury Ct, Sedgfield Ct, Charlotte Ct, Westfield Ln, Gannon Ct | $795 |
| Fulbright Ln, Mitchell Blvd, Dennis Ct, Idlestone Ln, Cynthia Ln, Locust Pl, Sandhurst Ct, Seven Pines Rd, Columbia Dr, Waxwing Ct | $763 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Schaumburg | $120 to $122 |
| Roselle | $121 |
| Hanover Park | $116 |
| Streamwood | $117 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $600 | $3,600 |
| Yearly Schaumburg Homeowner Insurance Premium Example | $1,800 | $1,200 |
| Out of Pocket Expense During Claim | $600 | $3,600 |
| Total Home Insurance Premium for 6 years + Out of Pocket Expense for Claim | $11,400 | $10,800 |
| Net Savings to Schaumburg Home Owner from High Deductible Plan | $600 | |
| Scenario | Schaumburg, IL Home Replacement Value MORE than Home Value | Schaumburg, IL Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $379,000 | $236,000 |
| Insurance Premium based on Replacement Value | $1,925 | $1,200 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $62,500 | Risk Exposure from Under Insuring Coverage is $80,500 |
| Premium Impact | Insurance cheaper by $400/year | Insurance costlier by $325/year |
| Insurance Company | Nationwide Insurance | Travelers | American Family Insurance |
| Monthly Premium | 88 | 119 | 53 |
| Year Built | 1993 | 1976 | 1986 |
| Home Details | 3 Beds, 1 Baths | 4 Beds, 3 Baths | 2 Beds, 1 Baths |
| Coverage Amount | $250000-$300000 | $400000-$500000 | $125000-$150000 |
| Deductible | $500- $1000 Deductible | > $10,000 Deductible | $1000-$2500 Deductible |