Best Home Insurance in Illinois (2023)

Home Insurance in Illinois

You know the value and importance of having homeowners insurance in Illinois, but purchasing a policy that fits your home and keeps your costs in line can be a challenge. Meeting Illinois homeowners requirements and balancing cheap homeowners insurance is possible. To do this, you simply need to have the right information to make informed decisions. Here’s what you need to know.

Home Insurance Companies in Illinois

To get started, find the top rated homeowners insurance companies in Illinois. These are companies offering competitive pricing on quality coverage. With a bit of research of each of the homeowners insurance agencies in Illinois, it is possible to get an idea of what type and how much coverage is right for your home. From there, work with independent home insurance agents in Illinois who can help you to obtain quotes from multiple insurers. The very best home insurance companies in Illinois are both affordable and reliable providers.

How to Get the Best Rates for Home Insurance in Illinois

To get the most cost-effective rates on homeowners insurance in Illinois, start here. Put your zip code in the box on this page to get quotes from available providers in your area.

<zipcode>Find The Cheapest Home Insurance In Your Area:</zipcode>

How Much Does Homeowners Insurance Cost in Illinois?

To learn how affordable each provider is, you need to have some idea of what the state’s average price is. The average annual premium in Illinois for the most common HO-3 policy is $1,033. By comparison, homeowners across the U.S. pay $1,173 for the same policy on average.

<twitter>The average annual premium in Illinois for the most common HO-3 policy is $1,033. By comparison, homeowners across the U.S. pay $1,173 for the same policy on average.</twitter>

List of Homeowners Insurance Companies in Illinois

You can begin comparing policies from Illinois providers. To get a list of the various policies in your area, enter your zip code above.

How Homeowners Insurance Is Calculated in Illinois

A variety of factors play a role in how much you will pay for homeowners insurance in Illinois. The most important of them are listed here. These factors determine how much you will pay for home insurance along with the individual risks your home creates.

<qa>1;Crime;Crime rates play an important role in determining home insurance rates. Areas where rates are high indicate a higher likelihood of theft and vandalism. In Illinois, the property crime rate is 20.11 out of 1,000 residents. That is lower than the 24 point national average.</qa>

<qa>2;Weather/Climate;Climate in Illinois is rather moderate, though there are days of extreme heat, drought, and inland flooding. Storm damage, from thunderstorms and windstorms, as well as ice-related events also happen here. This can raise the home insurance rates in the area.</qa>

<qa>3;Home Values;A more valuable home means there is a need for a larger amount of home insurance. This increases costs. In Illinois, the median home value is $180,300. That’s a bit higher than the national average, but remains more affordable than in some areas.</qa>

Home Insurance Requirements in Illinois

Most people have some questions about how home insurance works in Illinois. Your agent can answer specific questions about your policy. However, this information can help you make a decision to obtain coverage in your area.

Is Homeowners Insurance Required in Illinois?

Homeowners insurance policies provide ample coverage for owners, yet they are not a requirement under state law. In nearly all areas, insurance is a requirement, though, if you have a mortgage on your home. It may also be required by some homeowners associations in the state.

What Does Home Insurance Cover?

When required by mortgage companies, home insurance coverage includes both liability protection and property insurance. Liability protects you if someone suffers injury at your home, such as falls and breaks an arm. Property insurance covers the structure of your home, and your possessions, from risks such as fires, some forms of storm damage, and theft.

Homeowners Insurance for New Properties in Illinois

Illinois has seen a significant amount of growth with new homes. New homes may require homeowners insurance if the lender requires it. However, protecting this new investment is nearly always a good thing. Coverage may be a bit more if the home has a higher value.

Homeowners Insurance for Old Properties in Illinois

In some cities in Illinois, homes are quite old. In some cases, this raises their value, making them important to insure. However, all homes in the state benefit from coverage even without a mortgage.

Renters Insurance in Illinois

There is no law in Illinois that requires you to have renter’s insurance. Some landlords may require tenants to maintain a policy, though.

Renter’s insurance tends to be a good investment. It offers coverage for usually under $30 a month (depending on the structure type). It protects your valuables from risks such as theft or fire damage. It also covers liability risks.

<zipcode>Compare Renters Insurance in Illinois</zipcode>

Compare Home Insurance in Illinois by City

You may want the cheapest home insurance in Illinois - who doesn’t? Yet, you also need coverage that fits your home. Compare home insurance quotes from multiple providers to get the best possible rate. Here’s a look at some cities.

<qa>1;Home Insurance Quotes in Chicago, Illinois;A world class city, Chicago has plenty to offer. It’s home to 2,716,450 people, and has an urban, upscale lifestyle to offer especially in the city’s suburbs. Home values here are $228,900 on average, though suburbs tend to be significantly more.</qa>

<qa>2;Home Insurance Quotes in Aurora, Illinois;Aurora is a beautiful community not far from Chicago that offers a typical residential area. About 200,965 people live here. The median home value in Aurora is $185,400 and growing.</qa>

<qa>3;Home Insurance Quotes in Joliet, Illinois;With 148,462 people calling it home, Joliet is a thriving community known for its modern amenities and numerous growing neighborhoods. The median home value in Joliet is a bit more affordable at $143,100.</qa>

<qa>4;Home Insurance Quotes in Naperville, Illinois;Those living in Naperville may also see home values growing. The area’s 147,682 residents have various home types. Home values here are $397,200 as of March of 2019.</qa>

<qa>5;Home Insurance Quotes in Rockford, Illinois;Rockford is more north, but offers a solid quality of living. It’s home to 147,051 people. The median value of homes for sale here is $85,900.</qa>

Bonus: Most Expensive Homes in Illinois

You may not want to pay home insurance on these homes. They are the most expensive in the state.

• 1932 N. Burling St. in Chicago is valued at $45 million and spans 25,000 square feet.
• The home at 915 N. Dearborn St. in Chicago is valued at $21.9 million.
• Or, head to the lakefront for the home at 700 Crab Tree Farm Lane in Lake Bluff valued at $19.5 million.

<resources>https://www.reviews.com/homeowners-insurance/%20illinois/;https://www.neighborhoodscout.com/il/crime;http://statesatrisk.org/illinois;https://www.zillow.com/il/home-values/;http://www.citypopulation.de/USA-Illinois.html</resources>