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If you own a condo, it is important to have the best condo insurance. This type of insurance will protect your home and belongings in case of a disaster or other event. In addition to protecting your belongings from damage or destruction, condo insurance also provides liability coverage that could provide protection in the event of an accident.

Condo insurance is a great way to protect your investment from an unexpected event. It covers your condo's interior structure, belongings that are not covered by your homeowners association (HOA) insurance policy.

This guide will help you know about the best condo insurance companies in Illinois, also find out the least and most expensive zip codes for Illinois homeowners. Use this resource to find the most affordable condo insurance company in Illinois under your budget.

KEY TAKEAWAYS
  • Condo owners in Illinois pay an average of $498 per year or $41 per month in condo(HO6) insurance.
  • Country Mutual is the cheapest condo insurance company in Illinois at only $243 per year.

Best condo insurance companies in Illinois

In Illinois, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, J.D Power score and customer satisfaction rating of all the major insurers across Illinois. Below are the best condo insurance companies in Illinois based on Insurance.com's analysis.

  • USAA
  • State Farm
  • American Family
  • Allstate
  • Nationwide

Compare best condo insurance companies in Illinois

USAA is our top pick for the best condo insurance company in Illinois. It has earned 882 scores out of 1000 from J.D. Power, the highest among the carriers surveyed. Although, the services offered by USAA can be availed by the current and former military officials along with their families. Apart from USAA, State Farm can be your best bet for condo insurance in Illinois. It has received 835 scores out of 1000 from J.D. Power and an A++ rating from AM Best.

Buying condo insurance is different from getting a standard homeowners insurance policy. Condo insurance and single-family homeowners insurance seem to be the same thing. Just like a traditional home insurance policy, condominium insurance covers -

  • Personal property coverage- This covers your personal belongings such as furniture, electronics, clothing, and jewelry.
  • Liability protection- This provides protection if someone is hurt or injured on your property, or you damage someone else's property.
  • Dwelling coverage- It protects the building itself and any structures in it.
CompanyJ.D. Power scoreAM Best rating
USAA882A++
State Farm835A++
American Family831A
Allstate829A+
Nationwide812A+
Safeco810A
Liberty Mutual806A
Travelers800A++

Average cost of condo insurance in Illinois

The average cost of condo insurance in Illinois is $576 per year or $48 per month for $40,000 as personal property coverage with a $1,000 deductible and $100,000 in liability protection. However, rates can vary, based on the insurance company you choose and the zip code you live in.

If you are looking to buy a condominium, condo insurance is an important consideration. Not only does it provide coverage for common areas and appliances in the building but also provides protection for personal belongings and the interior of the unit against damage caused by fire or theft, vandalism, or natural disasters.

Investing in a condo is one of the largest investments you'll make in your lifetime. Therefore, it makes sense to protect this investment with condo insurance.

Average annual premiumAverage monthly premium
$576$48

CONDO INSURANCE CALCULATOR

Average condo insurance rates in ILLINOIS

$60,000
$1,000
$100,000
60624 - Chicago
Personal Property Coverage $60,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $1,091

HIGHEST RATE: $4,577 LOWEST RATE: $253

Most & least expensive zip codes for condo insurance in Illinois

Most Expensive

Zip CodeCityHighest Rate
60624Chicago$1,091
60644Chicago$1,083
60612Chicago$1,028
60622Chicago$1,013

Least Expensive

Zip CodeCityLowest Rate
62629Chatham$591
61701Bloomington$592
61080South Beloit$592
61704Bloomington$594

Condo insurance rates by companies in Illinois

Based on Insurance.com's rate analysis, Country Mutual is the cheapest condo insurance company among the carriers surveyed. Its average annual premium is $243---$333 less than the state average ($576). Apart from Country Mutual, Allstate and State Farm are the other two cheap insurance companies in Illinois for condo insurance.

Condo insurance rates can vary based on where you live, how much liability protection you need and how comprehensive your condo insurance coverage is. In order to find the perfect condo insurance policy, it's important that you get a number of quotes and compare rates. This is one of the best ways to get a great condo insurance policy in Illinois.

Below is the list of best condo insurance providers and their average annual premium for Illinois residents.

CompanyAverage annual premium
Country Mutual$243
Allstate$351
State Farm$376
American Family$396
Travelers$414
Nationwide$437
Safeco$487
Liberty Mutual$716
USAA$839
Garrison$1,075

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