Homeowners insurance in Illinois

The cost of homeowners insurance in Illinois is $1,773 a year for the average amount of coverage. Illinois residents can compare rates from over a dozen companies with Policygenius.

Pat Howard 1600

Pat Howard

Published July 29, 2020

KEY TAKEAWAYS

  • The average cost of homeowners insurance in Illinois is $1,773 for $100,000–500,000 in coverage

  • The most affordable insurance company in Illinois is Plymouth Rock, according to Policygenius quote data

  • When deciding on policy coverage, Illinois residents should consider the many tornadoes the Prairie State experiences every year

Homeowners insurance is essential financial protection for Illinois residents, covering your home and personal property from everything from break-ins and theft to that unpredictable Midwestern weather. Most mortgage lenders will also require homeowners insurance throughout the duration of your mortgage term.

While the statewide average cost of homeowners insurance in Illinois is $1,773, bear in mind the cost of coverage will vary depending on your home type, location, claims history, and your policy deductible amount. Home insurance rates will also vary from company to company — the amount you’re quoted for a specific level of coverage might be vastly different from company A to company B. For that reason, it’s important to compare policies and rates from several insurance companies in the Prairie State.

To help simplify your shopping experience, Policygenius reviewed the five best homeowners insurance companies in Illinois offered through our website and calculated the state’s cheapest and most expensive cities for home insurance based on hundreds of submitted quotes.

Compare Illinois quotes here

IN THIS ARTICLE

The 5 best homeowners insurance companies in Illinois

Before deciding on a homeowners insurance policy, it’s a good idea to do some background research on the company that will be insuring your home and assets. A great homeowners insurance company will have solid financial ratings, reliable customer service, affordable coverage, multiple policy options, and availability of discounts. Using that criteria, we determined the following five companies were the best homeowners insurance companies in Illinois. Read about our methodology here.

Best company for superior coverage: Hippo

From a coverage standpoint, few Illinois home insurance companies excel quite like Hippo. Hippo homeowners insurance includes all of the primary coverages you find in a standard home insurance policy: dwelling, other structures, personal property, loss of use, personal liability, and medical payments coverage; as well as several coverage enhancements — like equipment breakdown coverage, service line coverage, water backup coverage, and computer coverage — that you usually have to add as an endorsement to your policy with most other companies. Hippo also has two additional tiers of coverage if you’re looking for higher coverage limits for your home office or personal liability.

Read our full review of Hippo here

Best company for policy discounts: Nationwide

In terms of cost-saving options, Nationwide bests most Illinois home insurance companies with its wide array of discounts. Enjoy a generous multi-policy discount if you bundle your home insurance policy with auto or another type of property insurance offered by Nationwide. Nationwide also offers discounts for securing and strengthening your home and roof from break-ins and bad weather. If you haven’t filed a claim in three years or if you recently purchased your home, that can also land you a reduced rate with Nationwide.

Read our full review of Nationwide here

Best financial ratings: Travelers

One important indicator of an insurance company’s ability to pay out claims in an effective and timely manner is their financial stability, and Travelers is among the highest-rated insurers in that area. With an A++ rating with A.M. Best, Travelers has the highest score a company can receive with the insurance company credit rating agency. Travelers also has high marks with Standard & Poors, which measures long-term financial stability, as well as Moody’s, which measures what the expected losses would be if a company were to go into default.

Read our full review of Travelers here

Best company for a cheap quote: Stillwater

Stillwater is one of the highest rated and most dependable companies we’ve reviewed, and it's also one of the most affordable. The average Illinois insurance quote with Stillwater is $1,523 for $100,000–500,000 in coverage, a couple hundred dollars cheaper than the statewide average of $1,773 for that coverage amount. Stillwater — along with Plymouth Rock, Travelers, and Hippo — is a go-to insurer if you’re an Illinois resident looking to save money on homeowners insurance.

Read our full review of Stillwater here

Best replacement cost policy: Safeco

If you’re looking for the best replacement cost coverage options for the structure of your home, Illinois homeowners should look no further than Safeco. The reputable insurer has four tiers of coverage, and all include the option for extended replacement cost, a policy add-on that increases your home’s coverage limits an additional 25% or 50% if rebuild costs exceed your dwelling coverage limit of liability. Safeco’s “Premier Plan”, its highest level of coverage, includes guaranteed replacement cost, which pays for a rebuild of your home regardless of the price. Homeowners in tornado-prone areas of western Illinois may want to consider this supplemental coverage.

Read our full review of Safeco here

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Average cost of homeowners insurance in Illinois by company

When comparing insurance companies, Illinois residents may find that rates differ greatly from company to company for the same level of coverage. There are a couple reasons for this: The more expensive policy may provide more coverage add-ons in a basic plan than their competitors, or some companies may simply charge more for coverage in certain areas depending on their risk appetite.

After reviewing hundreds of quotes submitted with Policygenius, we found that Plymouth Rock is the cheapest insurance company in Illinois with a $1,344 average annual premium for $100,000–500,000 in coverage. MetLife is the most expensive with a $2,311 average annual premium.

CompanyPolicygenius RatingAverage Cost
ASI6.6/10$1,554
EncompassNot rated$2,174
Hippo8/10$1,561
MercuryNot rated$1,885
MetLife6.5/10$2,311
Nationwide7.7/10$1,697
Plymouth RockNot rated$1,344
Progressive6.6/10$1,953
Safeco7.3/10$1,684
State AutoNot rated$1,712
Stillwater7.6/10$1,523
Travelers7.7/10$1,583

Average cost of home insurance in Illinois by coverage amount

The average cost of homeowners insurance in Illinois will also differ considerably based on the amount of insurance you have for your home. Below is the average homeowners insurance quote for five different levels of coverage.

Coverage AmountAverage cost
$100,000-$200,000$1,209
$200,000-$300,000$1,669
$300,000-$400,000$2,000
$400,000-$500,000$2,331
Greater than $500,000$2,697

Average cost of home insurance in Illinois by city

Insurance companies will also price policies differently based on where you live. We found the city of Bolingbrook, Illinois to have the highest rate with a $3,175 average annual premium for $100,000–500,000 in coverage. The cheapest area on average is Bartlett with a $576 average annual premium.

Cityaverage cost
Arlington Heights$1,684
Aurora$1,332
Bartlett$576
Belleville$2,087
Bloomington$1,945
Bolingbrook$3,175
Buffalo Grove$2,927
Champaign$2,308
Chicago$2,307
Crystal Lake$730
Downers Grove$970
Elgin$895
Evanston$1,309
Hoffman Estates$804
Naperville$2,158
Plainfield$1,283
Schaumburg$1,268
Skokie$1,641
Springfield$1,919
Wheaton$1,440

We selected the 20 largest cities in Illinois by population where customers have submitted quotes with Policygenius. Quotes are based on a coverage amount between $100,000 and 500,000.

The cheapest cities for homeowners insurance in Illinois

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The most expensive cities for homeowners insurance in Illinois

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Guide to homeowners insurance in Illinois

Common causes of home insurance loss in Illinois

Illinois ranks fairly high nationally in terms of the number of tornadoes and related injuries, deaths, and property damage. Illinois averaged 54 tornadoes annually from 1991–2010, the 6th most in the country, by far the most in the Midwest and a higher annual average than tornado-prone states like Missouri and Alabama. Western Illinois sits right on the edge of Tornado Alley, so if you own a home in this part of the state, you’ll want to be sure your home is fully insured up to its rebuild cost. If your insurance company offers you the option of extended replacement cost dwelling coverage, you should consider this valuable coverage add-on in the event your home and community suffers catastrophic twister damage and rebuild costs skyrocket.

Does homeowners insurance cover flooding in Illinois?

Homeowners insurance does not cover flood damage in Illinois or anywhere else in the country. Illinois residents, especially those in communities on the Illinois River, should consider flood insurance to protect their home and personal belongings from flood-related damage. Flood insurance can typically be purchased through the same company that insures your home. Most flood policies are sold by private companies but serviced by the federal government via the National Flood Insurance Program. An NFIP flood policy can cover up to $250,000 for the structure of your home and up to $100,000 for personal belongings.

Illinois Department of Insurance

The Illinois Department of Insurance provides valuable resources for both first-time Illinois homeowners purchasing coverage for the first time and those who already have insurance but have questions related to their coverage or would like to file a complaint.

What if I can’t get homeowners insurance?

Homeowners insurance companies can cancel your insurance for a number of reasons — maybe you filed too many claims in a short period of time, maybe the insurance company no longer offers coverage where you live, or maybe they determined your home was too risky to insure after a recent inspection. If you’re struggling to find coverage, you can get last-resort coverage via an Illinois Fair Access to Insurance Requirements (FAIR) Plan. The Illinois FAIR Plan is a not-for-profit insurance association that provides basic coverage for Illinois Residents that are unable to get home insurance on the open market. To qualify for a FAIR Plan, you need to demonstrate that you’ve had at least three unsuccessful attempts to buy insurance from other companies.

Not where you live? We've got you covered, check out our guide to homeowners insurance in your state

Insurance Expert

Pat Howard

Insurance Expert

Pat Howard is an Insurance Editor at Policygenius in New York City, specializing in homeowners insurance. He has been featured on Property Casualty 360, MSN, and more. Pat has a B.A. in journalism from Michigan State University.

Policygenius’ editorial content is not written by an insurance agent. It’s intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.

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