Streamwood, IL Home Insurance Quotes!

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Currently, 39,927 people live in the city of Streamwood and the average family size is around 4 people per home. The total number of housing units likely to be insured with a homeowners insurance policy is around 13,064 and the number of occupied households is roughly . Homeowners of Streamwood are looking to easily compare rates and coverage options with affordable prices and coverage that they can depend on and trust. At GetHomeInsuranceQuotes.com, we shop up to 12 rates and coverages to help you review which insurance carrier and home insurance coverage is best fit for you and your family.

Within the city of Streamwood, the median household income is $80,412 it is above the national average of $68,703. Housing is another great reason to live in Streamwood with the average home costing $192,800.

Homeowners Insurance in Streamwood is a Bargain

We have much cheaper rates for homeowners living in the city of Streamwood. Save up to 40% or more with discounts available and rates as low as $595 per year. On average, homeowners in your area pay around $845 a year with discounts applied. For bigger homes in Streamwood, you may see rates around $1145 because of the replacement cost coverage is more for higher end, expensive homes that cost more to replace or rebuild. Let us help you shop the best home insurance rates in Streamwood, we have 12 different carrier options to choose from all-in-one place. Call us now for free quotes: 855-976-2656!

Streamwood Home Insurance Coverage Guide

Homeowners insurance is offered in various types and each one is specifically designed for a certain type of housing. Here is a brief overview of a few of the more common homeowner insurance types that consumers can purchase in Streamwood.

  • HO-3: This is by far the most common homeowners policy available. It will cover all perils, with the exception of certain perils, such as flooding and earthquake damage, that are listed in the policy.
  • HO-2: This is a very basic policy. It only covers damage from certain perils that are listed in the policy. If the peril is not listed, it will not be covered. Your personal property is also covered. Most experts don't recommend these policies except for the most basic coverage needs.
  • HO-4: The HO-4 policy covers renters. It will protect all of the personal property in your apartment, up to your policy limits, as well as offering liability coverage. The liability portion of the policy will protect your financial assets if someone is injured in your apartment. It will pay for any medical costs as well as defend you in a lawsuit if you happen to be sued. These polices are very affordable and should definitely be considered if you currently live in an apartment.

Compare Homeowners Insurance Rates in Streamwood, IL!

Enter your Zip Code:    

Get up to 12 competitive Streamwood, IL homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Streamwood, IL rates all in one place!

Average Rates Nearby Streamwood

Are you looking for homeowners insurance in a city near Streamwood? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!

Home Insurance Rates by Zipcode in Streamwood, IL

Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Streamwood.

60107,     

Streamwood, IL Home Insurance Average Premiums

Local Streamwood, IL home insurance quotes comparison

$595 /yr.

Shows Streamwood's lowest average rates with discounts applied.

For the city of Streamwood, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:Annual Premium
1800 sq. ft. or below
(discounts applied)		$595 /yr.
Average Coverage:$845 /yr.
2600 sq. ft. or higher
(all discounts applied)		$1145 /yr.

What is the average home insurance cost for a home in Streamwood, IL?

  • • The average homeowners insurance premium paid annually for a home in Streamwood is around $845 per year.

What does it cost on average per month for home insurance in Streamwood, IL?

  • • Homeowners in Streamwood pay an average cost per month around $70.00 for insurance coverage.

Streamwood, IL Coastal Wind, Hail & Flood Information

Streamwood is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.

Flood Zone Notice: The beautiful coastal city of Streamwood is know for it's beautiful beaches and waterways. Because Cook County (FIPS: 17031) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Streamwood, IL.

Streamwood, IL - 2023 Housing Information

Month Current Home Value (2023) Last Year Home Value (2022)
January $267,478 $255,681
February $267,933 $259,389
March $269,105 $264,080
April $270,412 $268,694

Homeowners insurance will help cover the cost to repair or replace your Streamwood home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:

  • Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Streamwood
  • Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
  • Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
  • Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
  • Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Enter your Zip Code:    

Get up to 12 competitive Streamwood, IL homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Streamwood, IL rates all in one place!

Saving Money Tips on Streamwood Home Insurance

A great way to save money on Streamwood homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:

  • Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
  • Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
  • Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
  • Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.

Are you shopping for the best rate near or wihin the Streamwood area? Check out what homeowners are paying on average for Illinois homeowners insurance.

Elevation Review for Coastal Wind or Flooding Risk

Elevation Details Homeowners Tips
801 ft. This is the average home elevation in Streamwood, IL

» Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Streamwood, Illinois.

A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home.

Call Now for Flood Insurance Quotes: 888-620-1954!

Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy.

It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas.

To get online quotes on your home and compare rates on home insurance premiums in Streamwood, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Cook County.

Illinois Homeowners Insurance News & Information

  • $4.5B Estimated In Insured Losses After 2024 Florida Hurricanes Posted on Wednesday 13th November, 2024

    According to the Florida Office of Insurance Regulation, the three hurricanes that made landfall this year have caused more than $4.5 billion in estimated insured losses. Hurricane Debby, Helene and Milton all hit the state within two months of each other Helene and Milton struck just two weeks apart. State data show that over 269,000 […]

  • I can’t afford my home insurance, what do I do? Posted on Saturday 9th November, 2024

    According to data from the National Association of Realtors (NAR), the average U.S. insurance rate is $2,377 a year. The data also suggest that homeowners could see a 6% rise in rates by the end of the year which is in addition to the 20% increase over the two previous years. As climate change pushes […]

  • How to Get the Best Homeowners Insurance Policy for Your Needs Posted on Wednesday 6th November, 2024

    Having the proper insurance coverages in place is a critical part of owning a home, it protects your investment and finances in the event your home is destroyed by an unexpected disaster such as a fire, flood or severe storm.  Understanding the different coverages that are available to homeowners is key to making sure you […]

  • Homeowners Shopping Rates Due to Rise in Premiums Posted on Monday 23rd September, 2024

    According to the recently released J.D. Power 2024 U.S. Home Insurance Study a nationwide rise in premiums has driven many customers to shop for new policies as their rates are now too high.  “’The average shopping rate among home insurance customers has climbed to a record high of 6.8% through the second quarter of 2024, […]

  • Where is it cheaper to rent than to buy a home in the United States? Posted on Thursday 5th September, 2024

    According to a new study from Clever Real Estate, a St. Louis-based real estate company, monthly rent costs are actually cheaper than a monthly mortgage payment in 48 of the 50 most populous cities in the United States. Their analysis looked at mortgage principals, interest, taxes as well as homeowners insurance and they found that […]

Streamwood, IL Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in Streamwood so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.

What is the average replacement cost coverage in Streamwood, IL?

- The average square footage in Streamwood is around 1,252 Sq. Ft. which would cost you around $192,800 to replace the home if you base the home on the price to build per square foot of $154.

Minimum Replacement Cost Total: $192,800

Location: Streamwood, Illinois (Cook County)

Average Building Cost Per Square Foot in Streamwood: $154 (low end)

Average Square Footage in Streamwood: 1,252 Sq. Ft.

Home Improvement StatusPrice per Sq. Ft.Dwelling Coverage
None or Very Minor Improvements$154$192,800
Some Additional Upgrades$193$241,000
Major Home Updates or Advancements$231$289,200

The dwelling coverage is calculated by the average cost per square foot ($154) in Streamwood, Illinois times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $481,250 (Media price to build of $193 x 2500 sq. ft.) to cover the cost to rebuild your new home.

What is the difference between actual cash value and replacement cost value?

Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:

Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.

Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.