Home Insurance in Aurora, Illinois: A Complete Guide
Aurora, Illinois, located just outside of Chicago, offers suburban living with easy access to the city. However, homeowners in Aurora must still deal with risks such as severe weather, which influences home insurance premiums.
National vs. Aurora Home Insurance Costs
The national average cost for home insurance is $1,400 per year, while Aurora homeowners pay an average of $1,450 per year. Aurora’s relatively moderate insurance costs are due to lower crime rates compared to Chicago, but the city still faces weather-related risks.
Factors Driving Local Insurance Costs
Weather Risks: Aurora faces strong winds, tornadoes, and harsh winters that can damage homes.
Suburban Setting: The lower population density compared to Chicago results in lower crime rates, which helps keep insurance premiums more affordable.
Home Insurance Rates by Home Age in Aurora
As with most cities, the age of your home plays a crucial role in determining insurance premiums. Below is a breakdown of home insurance costs by home age in Aurora:
Home Age
Average Annual Premium
0-10 years
$1,400
10-20 years
$1,450
20-30 years
$1,500
30+ years
$1,550
Impact of Home Age on Insurance Rates
Newer homes in Aurora typically have lower premiums because they meet modern building codes.
Older homes tend to have higher premiums because they may require more repairs or maintenance.
Home Insurance Rates by Credit Tier in Aurora
Credit scores can influence your home insurance costs in Aurora. Here’s how premiums vary based on credit scores:
Excellent Credit (750+): $1,400/year
Good Credit (700-749): $1,450/year
Fair Credit (650-699): $1,550/year
Poor Credit (Below 650): $1,700/year
Cheapest Home Insurance Providers in Aurora
Aurora residents can save by comparing rates from different insurers. Here are some of the most affordable providers in Aurora and their average premiums:
State Farm: $1,450/year
Allstate: $1,470/year
Farmers: $1,480/year
Liberty Mutual: $1,490/year
Progressive: $1,500/year
Home Insurance Rates by Deductible in Aurora
Choosing a higher deductible can lower your annual premium. Here’s a breakdown of insurance costs in Aurora based on deductible amounts:
$500 Deductible: $1,550/year
$1,000 Deductible: $1,450/year
$2,000 Deductible: $1,350/year
$5,000 Deductible: $1,250/year
Types of Homeowners Insurance in Aurora
Aurora residents have access to a variety of homeowners insurance policies:
HO-3 (Special Form): This is the most common policy, offering protection for your home and personal belongings against most risks.
HO-5 (Comprehensive Form): Provides more extensive protection, particularly for high-value homes and possessions.
HO-6 (Condo Insurance): Designed for condo owners, covering personal belongings and the condo structure.
HO-8 (Older Home Insurance): Ideal for historic or older homes in Aurora.
Additional Coverage Options in Aurora
Aurora homeowners should consider additional coverage options based on local risks:
Flood Insurance: Homes near rivers or in flood-prone areas should consider flood insurance, especially during heavy rains.
Windstorm Insurance: Tornadoes and strong winds are common in Illinois, making windstorm coverage necessary for Aurora homeowners.
Sewer Backup Coverage: Sewer backups can cause significant water damage, especially in older neighborhoods, making this an important add-on.
