Best and Cheapest Homeowner Insurance in Illinois for 2024

Last updated Apr 06, 2024

The average homeowner insurance premium in Illinois is around $1,056 which is $119 cheaper than the national average. However, depending on your coverage selection on personal property, deductible, and other factors, you may see a significantly different price.

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Homeowner insurance is essential for many people. It is one of the types of insurance to protect your home, your property, and your liability for injuries on your property. Illinois has natural hazards such as storms, tornado, and snowing. It's a good idea to understand what homeowner insurance covers, what other insurance are great supplements, and how much coverage you should buy.

How much is homeowner's insurance in Illinois?

In Illinois, the homeowner's insurance premium is $1,056 a year or $88 per month on average, which is much lower than the national average. The below chart compares Illinois with four other states with similar premiums, as well as the national average.

A bar chart comparing Homeowner insurance in Illinois

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What factors impact the Homeowner Insurance premium?

  • Your Coverage Amount
  • Location
  • Neighborhood Crimes
  • Age of the Home
  • Conditions and Materials of Your Home
  • Number of Primary Inhabitants
  • Area and Personal Claim Histories

What discounts are available for Homeowner Insurance?

Most carriers provide various discounts for homeowner insurance such as multiple-policy discounts or clean claim history discounts.

Discount Description
Multi-Policy If you purchase both home and auto insurance from the same company, you may qualify a discount for both auto and homeowner insurance.
Secure Home If you have extinguishers, burglar alarms devices or you are in a gated community, you may qualify for the secured home discount. This averages about 5% from quite a few carriers.
Claim-free Just like auto insurance is lower for accident-free drivers, homeowner insurance is also cheaper for claim free residents. If you have never reported any claims before, you will qualify for the claim-free discounts from quite a few carriers.
Loyalty Some carriers, especially those largest ones, offer loyalty discount if you have been with them for a few years. If you do have, you can see this discount from your declaration page or talk to your insurance agent.
Home Improvements This often is the most critical discounts that highly impact your premium. If you have recent home improvements such as replacing your roof, your electricity or any other building materials, you definitely need to include that in your quotes. This usually could contribute most in your saving.
Good Credit A customer with a credit score higher than 700 can often get a better rate than those who don’t.
Pay-in-full If the carrier supports both monthly and yearly payment, usually paying-in-full will give you a discount. In other words, if you choose to pay monthly, you should pay attention to the extra fee charged by your carrier.
Paperless A few carriers even provide paperless discounts. But more and more new insurance carriers do not offer it probably because the overall cost has already been saved.

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Homeowner Insurance Rates for Cities in Illinois

We compiled data about Homeowner Insurance rates for every city in California. This list is updated on Jan 06, 2020. A word of caution, as you explore the list below, there is no doubt you will find a wide price range.

References

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Disclaimer
Our articles are intended for informational purposes and should not be considered legal or financial advice. Our articles are not written or reviewed by insurance agents. Consult your policies with your agent or a professional for details regarding terms, conditions, coverage, exclusions, products, services, and programs.

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