Springfield ,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 Springfield, 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 Springfield, IL is $1968. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Springfield, IL. VHome Insurance will help you navigate the world of homeowners insurance coverages in Springfield, IL.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $787 |
| $200,000 | $1,338 |
| $300,000 | $1,653 |
| $400,000 | $2,519 |
| $500,000 | $3,168 |
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 Springfield, IL, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $2,018 |
| $1000 Deductible | $1,805 |
| $1500 Deductible | $1,702 |
| $2500 Deductible | $1,535 |
| $5000 Deductible | $1,299 |
| Home Insurance Company Near Springfield, IL | Homeowners Insurance Agency Near Springfield, IL | Address |
|---|---|---|
| NA | The Hohmann Agcy | 1850 W Morton, Jacksonville, IL, 62650 |
| Travelers | Central Illinois Agents Group Llc | 123 E DOUGLAS AVE, PETERSBURG, IL, 62675 |
| Erie | Koonce Insurance Agency Inc. | 306 E First Street Suite A, Pana, IL, 62557 |
| Travelers | Prairie State Insurance Agency Inc | 113 W DOUGLAS AVE, PETERSBURG, IL, 62675 |
| Erie | Richland Insurance Services Inc. | 104 North Drive, Mount Zion, IL, 62549 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Capital township, Sangamon County, Illinois | $110 | $147 | $221 |
| Leland Grove city, Illinois | $118 | $157 | $236 |
| Grandview village, Illinois | $107 | $143 | $215 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Springfield, IL | 5.2% | 13.5% |
| Capital | 5.2% | 13.53% |
| Leland Grove | 3.66% | 8.79% |
| Grandview | 6.96% | 18.99% |
| Springfield Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| Less than $200 | 355 | 2.0% | $350 |
| $200 to $299 | 620 | 3.0% | $800 |
| $300 to $499 | 2,200 | 13.0% | $1250 |
| $500 to $749 | 6,303 | 37.0% | $1925 |
| $750 to $999 | 4,852 | 28.0% | $2675 |
| $1,000 to $1,499 | 1,804 | 10.0% | $3800 |
| $1,500 or more | 669 | 3.0% | $5450 |
| Streets in Springfield Area | Homeowners Insurance Cost |
|---|---|
| Wind Meadow Dr, Crossing Dr, Pinoak Ln, Wood Ridge Dr, Winterberry Ln, Key West Ln, White Birch Dr, White Pine Dr, E Griffiths Ave, Haviland Dr | $786 |
| Clearview Dr, Pebble Beach Dr, Rutgers Dr, Glendale Dr, International Pkwy, Stardust Dr, S 6th Street Frontage Rd E, Wildcat Run, Turnberry Pl, Grinnell Dr | $775 |
| Casting Dr, Noble Ave, Co Rd 4e, Cottage Grove, Tumbleweed Trl, Irwin Ln, W Cedar St, Carnoustie Dr, Mitchell Dr, Timbercrest Ct | $773 |
| Parkview Dr, Sheridan St, Jemi Ln, Oak Terrace Ln, Villa Grove, Tallgrass, E Allen St, SE Old State Capitol Plz, Dove Dr, Bristol Dr | $799 |
| Monica Ct, Oakcrest Rd, Almahurst Dr, Broad Pl, S Sherman Blvd, Elmhurst Dr, Jerome Ave, Ross Rd, Anchor Rd, N Oak Rd | $762 |
| Eagles Lndg, Green Trail Dr, Camp Cilca Rd, Riech Rd, Casey Dr, Emporia Ave, E Thoma St, Russell Dr, Stonehaven Ridge, Crestview Dr | $769 |
| Lindbergh Blvd, Pickering Ln, Dave Stockton Dr, Springcreek Dr, Tamaroa Trl, Plateau Dr, Connie Dr, New Salem Church Rd, Arcade Dr, Windamere Dr | $732 |
| Warwick Dr, Sequoia Dr, E Black Ave, Bergamot Dr, S Palmer St, Whispering Ln, Collingwood Dr, Prairie Ln, W Fayette Ave, Buckeye | $773 |
| Eagle Wing Rd, Hackberry Dr, Plaza Dr, St Mary's Ct, 750 A South Rd, Waterbury Pond Ct, Saint Marys Ct, W Miller St, W Calhoun Ave, Ridgeview Rd | $706 |
| Saint James Ct, Bontjes, Groth St, Woodmore Dr, Palomino Rd, Pine Ridge Dr, Prairie Crossing Dr, Lansing Dr, Evergreen Walk Dr, Spindel Dr | $800 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Springfield | $110 to $113 |
| Capital | $110 |
| Leland Grove | $118 |
| Grandview | $107 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $1,200 | $2,200 |
| Yearly Springfield Homeowner Insurance Premium Example | $700 | $500 |
| Out of Pocket Expense During Claim | $1,200 | $2,200 |
| Total Home Insurance Premium for 8 years + Out of Pocket Expense for Claim | $6,800 | $6,200 |
| Net Savings to Springfield Home Owner from High Deductible Plan | $600 | |
| Scenario | Springfield, IL Home Replacement Value MORE than Home Value | Springfield, IL Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $237,500 | $169,500 |
| Insurance Premium based on Replacement Value | $1,325 | $950 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $37,000 | Risk Exposure from Under Insuring Coverage is $31,000 |
| Premium Impact | Insurance cheaper by $175/year | Insurance costlier by $200/year |
| Insurance Company | Liberty Mutual | Allstate | GEICO Insurance |
| Monthly Premium | 56 | 42 | 52 |
| Year Built | 1993 | 1974 | 1940 |
| Home Details | 3 Beds, 1 Baths | 2 Beds, 1 Baths | 4 Beds, 1 Baths |
| Coverage Amount | $125000-$150000 | $100000-$125000 | $125000-$150000 |
| Deductible | $1000-$2500 Deductible | $500 Deductible | $1000-$2500 Deductible |