Homeowners insurance on a $400,000 house in Illinois

How much is homeowners insurance on a $400,000 house in Illinois?

In Illinois, the average cost of home insurance on a $400k house is $3,693 annually.

Coverage	Average annual premium	Average monthly premium
$400,000 with a $1,000 deductible and $100,000 liability	$3,672	$306
$400,000 with a $1,000 deductible and $300,000 liability	$3,693	$308

Homeowners insurance on a $400,000 house in Illinois by company

The cheapest company for insurance on a $400,000 house in Illinois is Allstate at an average rate of $1,965. State Farm is second at $2,348.

Compare home insurance based on a policy with $400,000 in dwelling coverage, $300,000 in liability coverage and a $1,000 deductible.

Company	Average annual premium	Average monthly premium
Allstate	$1,965	$164
State Farm	$2,348	$196
Nationwide	$2,491	$208
Auto-Owners	$2,654	$221
Farmers	$4,211	$351
Country Financial	$4,214	$351
American Family	$6,081	$507
Travelers	$9,185	$765
USAA	$2,681	$223

Home insurance calculator

Use our home insurance calculator to get rates more tailored to your home and ZIP code.

Home insurance calculator by ZIP code

Average home insurance rates on 400K house in Texas

Most & least expensive ZIP codes for homeowners insurance in Texas

Most expensive
Least expensive

ZIP code	City	Highest rate
77550	Galveston	$10,164
77586	El Lago	$9,906
77551	Galveston	$9,536
77554	Galveston	$9,358

ZIP code	City	Lowest rate
78559	Iglesia Antigua	$1,956
78593	Santa Rosa	$1,999
79915	El Paso	$2,008
79905	El Paso	$2,009

Read our methodology

Illinois homeowners insurance rates for a $400,000 home by liability level

Dwelling coverage has the biggest impact on your home insurance rates, and increasing your liability from the standard $100,000 to $300,000 is a difference of only $21 a year.

Company	$400,000 with a $1,000 deductible and $100,000 liability	$400,000 with a $1,000 deductible and $300,000 liability	Hurricane deductible
Allstate	$1,932	$1,965	None
State Farm	$2,287	$2,348	None
Nationwide	$2,461	$2,491	None
Auto-Owners	$2,641	$2,654	None
Farmers	$4,182	$4,211	None
Country Financial	$4,204	$4,214	None
American Family	$6,055	$6,081	None
Travelers	$9,147	$9,185	None
USAA	$2,681	$2,681	None

Homeowners insurance on a $400,000 house in Illinois by credit rating

In Illinois, your credit history can be used to determine what you pay for home insurance. The average cost of a $400,000 insurance policy with excellent credit is $2,585, while the average cost for a homeowner with poor credit for the same policy is $15,202.

Compare rates for $400,000 in dwelling coverage, $300,000 in liability and a $1,000 deductible by credit tier below.

Credit tier alignment level	$400,000 with a $1,000 deductible $100,000 liability	$400,000 with a $1,000 deductible $300,000 liability
Excellent	$2,570	$2,585
Fair	$5,387	$5,419
Good	$3,769	$3,791
Poor	$15,125	$15,202

Illinois homeowners insurance on a $400,000 house by deductible

Increasing your deductible means lower insurance rates. The average difference between a $400,000 policy with a $1,000 deductible and the same policy with a $2,500 deductible is $602 a year.

Take a look at how deductibles affect home insurance rates in Illinois below.

Deductible	Average annual premium	Average monthly premium
$500	$3,133	$261
$1,000	$3,119	$260
$2,000	$2,560	$213
$2,500	$2,517	$210
$3,000	$2,488	$207
$4,000	$2,172	$181
$5,000	$2,155	$180

Illinois home insurance on a $400,000 house by city

The cheapest city in Illinois for $400,000 in dwelling coverage is Champaign at $3,240 a year. Whereas the most expensive city in Illinois to insure a $400,000 house is Chicago at $4,455 a year.

Where you live in Illinois impacts your home insurance premium due to risk factors like weather, crime and more. Compare average annual home insurance rates in major Illinois cities below.

City	Annual premium	Monthly premium
Champaign	$3,240	$270
Naperville	$3,253	$271
Aurora	$3,263	$272
Rockford	$3,333	$278
Elgin	$3,392	$283
Springfield	$3,411	$284
Joliet	$3,461	$288
Peoria	$3,509	$292
Chicago	$4,455	$371

Factors that impact homeowners insurance on a $400,000 house

A number of factors affect the cost of homeowners insurance in Illinois. They include:

ZIP code
Square footage
Construction type
Risks on the property
Past claims

How to determine how much coverage you need for a $400,000 house

The coverage you need for your home is based on its replacement cost and not its market value. So, if you paid $400,000 for your house, that doesn't mean you need $400,000 in coverage. It could be higher or lower than that, since factors that affect market value, like land value or school districts, have no impact on homeowners insurance.

To ensure you get the right amount of coverage, it's important to do a thorough and accurate replacement cost calculation. You can estimate the amount to get ballpark insurance rates, but when it comes to buying a policy, it needs to be accurate to properly protect your home.

Frequently asked questions

How do you estimate the cost of homeowners insurance for a $400,000 house?

To estimate your insurance cost, first estimate your home's replacement cost. You can then get home insurance estimate using our home insurance calculator.

Is replacement cost coverage necessary for a $400,000 home?

Your mortgage company will likely require you to carry replacement cost coverage, regardless of your home's value. Fortunately, standard home insurance policies include replacement cost coverage for the dwelling.