Renters insurance in Illinois: Cost, best companies and how to save

What is the average cost of renters insurance in Illinois?

The average cost of renters insurance in Illinois is $227 per year. Rates vary depending on factors like your location, the amount of coverage you choose, your deductible, and your claims history.

"The number one thing that's most important is to get good liability. A renter's policy will default to $100,000 liability," Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. "It costs next to nothing to go from $100,000 to $500,000. I want to say it's probably 10 bucks a year. It's really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that's, at its core, what insurance is all about: the worst-case scenario."

Average annual premium	$227
Average monthly premium	$19

Read our methodology

Best renters insurance company in Illinois: Auto-Owners

Among the carriers surveyed, Auto-Owners is the best renters insurance company in Illinois, with a top score and an average renters insurance rate of $200.

Country Financial and American Family are the other best insurance companies for renters insurance in Illinois.

Renters insurance rates vary significantly among providers, so you should compare options before choosing. You should also select a company with a good reputation to ensure it will be there if you have a claim.

To help you find the best renters insurance in Illinois, we evaluated average rates, NAIC complaints ratio, and AM Best financial ratings. We calculated the total Insurance.com score out of five using these factors.

Here are the best renters insurance companies in Illinois.

Company	Average annual premium	AM Best	NAIC	Insurance.com rating
Auto-Owners	$200	A++	0.33	5
Country Financial	$326	A+	0.26	4.51
American Family	$302	A	0.37	4.33
Farmers	$249	A	0.54	4.23
Nationwide	$159	A+	0.87	4.09
Allstate	$197	A+	0.9	4.04
State Farm	$159	A++	0.95	4.02
Travelers	$454	A++	0.54	3.49

Read our methodology

Cheapest renters insurance in Illinois

Our analysis shows that State Farm is the cheapest renters insurance company in Illinois, with an average annual premium of $159.

Renters insurance rates can differ greatly between providers, so it's best to compare quotes to find affordable coverage that meets your needs.

Here is the list of the cheapest renters insurance companies in Illinois along with their average annual premiums.

Company name	Average annual premium
Nationwide	$159
State Farm	$159
Allstate	$197
Auto-Owners	$200
Farmers	$249
American Family	$302
Country Financial	$326
Travelers	$454
USAA	$169

Read our methodology

Illinois renters insurance: The least and most expensive ZIP codes

Where you live in Illinois directly affects the cost of your renters insurance. The most expensive ZIP code in Illinois is 60699, where the average annual premium is $300. This is $73 more than higher than the average rate.

On the other hand, 61258 is the least expensive ZIP code for renters insurance with an average annual premium of $205 a year.

Best home insurance companies in Texas

Most expensive ZIP code
Least expensive ZIP code

ZIP code	Average annual rate
60699	$300
60621	$294
60636	$291
60649	$290
60609	$287
60628	$286
60701	$285
60652	$285
60629	$280
60624	$279

ZIP code	Average annual rate
61258	$205
62313	$206
60110	$207
60461	$234
60429	$236
60443	$237
60707	$240
60469	$242
60827	$243
60419	$245

Renters insurance cost in Illinois by city

In Illinois, renters insurance rates vary across cities due to factors such as weather risks, crime rates, and other factors. To get the best deal in your city, Compare quotes from several insurers before selecting a policy, so they weigh each factor differently.

City	Annual insurance premium
Aurora	$198
Champaign	$201
Chicago	$250
Elgin	$195
Joliet	$202
Naperville	$197
Peoria	$206
Rockford	$204
Springfield	$212

Read our methodology

How to save on renters insurance in Illinois

You can lower the cost of renters insurance in Illinois in several simple ways without reducing the coverage you need:

Bundle your policies. Many insurers give a discount when you purchase renters and auto insurance together.
Increase your deductible. Selecting a higher deductible lowers your monthly or yearly premium, but you should make sure you can afford it.
Ask about discounts. Many insurance companies offer discounts for having smoke alarms, security systems, or a claims-free history.
Compare quotes. Since prices vary widely between companies, getting quotes from multiple insurers helps you find the best deal.
Pay annually. Some insurers provide a small discount if you make yearly payment instead of paying monthly.

Methodology

Insurance.com compared renters insurance rates provided by Quadrant Information Services for $40,000 personal property coverage with a $1,000 deductible and $100,000 liability coverage for all available ZIP codes based on a renter with good credit. To rank the best insurance companies, we gathered AM Best financial stability ratings, where an A++ is the best possible score, and National Association of Insurance Commissioners (NAIC) complaint ratios, which compare the number of complaints a company receives to the anticipated complaint volume based on market share. These factors were used along with rates to find the best companies overall.

FAQ: Illinois renters insurance

Do I need renters insurance in Illinois?

You do not legally require renters insurance, but your landlord may require you to carry a policy as part of your lease agreement.

How much renters insurance do I need in Illinois?

You don't need any renters insurance by law, but when buying a policy you should ensure you have enough personal property coverage to cover all of your personal property at replacement cost.