Best for military-focused coverage
USAA Insurance review
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- J.D. Power:
- 884 /1,000
- AM Best:
- A ++
- Avg. annual premium for 250k dwelling
- $ 802
USAA Insurance review
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Best homeowners insurance in Illinois for 2022
Updated Dec 05, 2022
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At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .
The Bankrate promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .
What To Know First
Bankrate conducted an extensive study of homeowners insurance companies in 2022, and according to our research, the average annual rate for $250,000 in dwelling coverage in Illinois is $1,376 per year. Although an affordable premium is essential, it’s not the only factor one must consider when looking for the best coverage. Our insurance editorial team (including four licensed agents with almost 50 years of combined industry experience) analyzed discount opportunities, coverage options, third-party scoring and more to bring you the best homeowners insurance companies in Illinois. Based on our holistic review, you may want to consider starting your shopping journey with USAA, State Farm or American Family.
Bankrate conducted an extensive study of homeowners insurance companies in 2022, and according to our research, the average annual rate for $250,000 in dwelling coverage in Illinois is $1,376 per year. Although an affordable premium is essential, it’s not the only factor one must consider when looking for the best coverage. Our insurance editorial team (including four licensed agents with almost 50 years of combined industry experience) analyzed discount opportunities, coverage options, third-party scoring and more to bring you the best homeowners insurance companies in Illinois. Based on our holistic review, you may want to consider starting your shopping journey with USAA, State Farm or American Family.
Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
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Insurance Disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Quick Facts
$382/year
average savings through Bankrate
2 out of 3 homes
are underinsured
1 out of every 20
insured homes makes a claim each year
100% of homes
need insurance before getting a mortgage
Leaving so soon? Your custom quotes are just minutes away.
Key takeaways
- The best home insurance companies in Illinois — including USAA, State Farm, and American Family — offer competitive rates and robust coverage options.
- Home insurance in Illinois costs an average of $1,376 per year for $250,000 in dwelling coverage, which is in line with the national average.
- Larger cities, like Chicago, tend to pay higher average home insurance rates than smaller cities and towns.
Bankrate conducted an extensive study of homeowners insurance companies in 2022, and according to our research, the average annual rate for $250,000 in dwelling coverage in Illinois is $1,376 per year. Although an affordable premium is essential, it’s not the only factor one must consider when looking for the best coverage. Our insurance editorial team (including four licensed agents with almost 50 years of combined industry experience) analyzed discount opportunities, coverage options, third-party scoring and more to bring you the best homeowners insurance companies in Illinois. Based on our holistic review, you may want to consider starting your shopping journey with USAA, State Farm or American Family.
Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
Compare home insurance rates
Answer a few questions to see personalized rates from top carriers.
Powered by Coverage.com (NPN: 19966249)
Insurance Disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Quick Facts
$382/year
average savings through Bankrate
2 out of 3 homes
are underinsured
1 out of every 20
insured homes makes a claim each year
100% of homes
need insurance before getting a mortgage
Leaving so soon? Your custom quotes are just minutes away.
Key takeaways
- The best home insurance companies in Illinois — including USAA, State Farm, and American Family — offer competitive rates and robust coverage options.
- Home insurance in Illinois costs an average of $1,376 per year for $250,000 in dwelling coverage, which is in line with the national average.
- Larger cities, like Chicago, tend to pay higher average home insurance rates than smaller cities and towns.
How Bankrate chose the best home insurance companies in Illinois
Bankrate’s insurance editorial team chose the best homeowners insurance companies in Illinois by starting with a comparison of average premium data obtained from Quadrant Information Services. We evaluated several factors to determine which companies are the best that Illinois has to offer, including policy features, available coverage, discounts, financial strength ratings from AM Best and Standard & Poor’s (S&P), complaint records from the National Association of Insurance Commissioners (NAIC) and customer satisfaction scores from J.D. Power. We combined all these metrics into a Bankrate Score on a scale of 0.0 to 5.0. The higher a company’s overall score, the more highly that company scored in the underlying metrics. Our Bankrate Score model may help you easily choose which companies to further research.
Best homeowners insurance companies in Illinois
Bankrate’s analysis of the Illinois home insurance market found that USAA, State Farm and American Family are some of the best providers in the state, according to premium information from Quadrant Information Services and third-party scoring, such as the J.D. Power 2022 U.S. Home Insurance Study. These companies all offer lower-than-average premiums and above-average customer satisfaction scores. Whether you want the lowest insurance premiums, the most coverage or the best discounts, the following companies might be a good place to start if you want the best Illinois homeowners insurance:
| Insurance company | Average annual premium | J.D. Power | AM Best | Monthly premium for $250k coverage | |
|---|---|---|---|---|---|
|
USAA
4.8
Bankrate Score
Hover for more
Hover for more
|
Average annual premium
$802
|
J.D. Power
884
/1,000 |
AM Best
A++
(Superior)
|
Monthly premium for $250k coverage
$67
|
Get a quote |
|
State Farm
4.7
Bankrate Score
Hover for more
Hover for more
|
Average annual premium
$1,138
|
J.D. Power
829
/1,000 |
AM Best
A++
(Superior)
|
Monthly premium for $250k coverage
$95
|
Read review |
|
American Family
4.1
Bankrate Score
Hover for more
Hover for more
|
Average annual premium
$1,090
|
J.D. Power
842
/1,000 |
AM Best
A
(Excellent)
|
Monthly premium for $250k coverage
$91
|
Get a quote |
|
Allstate
3.9
Bankrate Score
Hover for more
Hover for more
|
Average annual premium
$930
|
J.D. Power
815
/1,000 |
AM Best
A+
(Superior)
|
Monthly premium for $250k coverage
$78
|
Get a quote |
|
Farmers
3.8
Bankrate Score
Hover for more
Hover for more
|
Average annual premium
$1,503
|
J.D. Power
792
/1,000 |
AM Best
A-
(Excellent)
|
Monthly premium for $250k coverage
$125
|
Get a quote |
Powered by Coverage.com (NPN: 19966249)
Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
*Average rates are for annual policies with $250,000 in dwelling coverage
**Not officially ranked with J.D. Power due to eligibility restrictions
Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
Compare home insurance rates
Answer a few questions to see personalized rates from top carriers.
Powered by Coverage.com (NPN: 19966249)
Insurance Disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Quick Facts
$382/year
average savings through Bankrate
2 out of 3 homes
are underinsured
1 out of every 20
insured homes makes a claim each year
100% of homes
need insurance before getting a mortgage
Leaving so soon? Your custom quotes are just minutes away.
Best for bundling policies
State Farm
4.7 Bankrate Score
Hover for more
State Farm Insurance review
Explore Bankrate's review
- J.D. Power:
- 829 /1,000
- AM Best:
- A ++
- Avg. annual premium for 250k dwelling
- $ 1,138
State Farm Insurance review
Explore Bankrate's review
Best for military-focused coverage
American Family
4.1 Bankrate Score
Hover for more
American Family Insurance review
Explore Bankrate's review
- J.D. Power:
- 842 /1,000
- AM Best:
- A
- Avg. annual premium for 250k dwelling
- $ 1,090
American Family Insurance review
Explore Bankrate's review
Best for unique coverage options
Allstate
3.9 Bankrate Score
Hover for more
Allstate Insurance review
Explore Bankrate's review
- J.D. Power:
- 815 /1,000
- AM Best:
- A +
- Avg. annual premium for 250k dwelling
- $ 930
Allstate Insurance review
Explore Bankrate's review
Best for a simplified shopping experience
Farmers Insurance review
Explore Bankrate's review
- J.D. Power:
- 792 /1,000
- AM Best:
- A -
- Avg. annual premium for 250k dwelling
- $ 1,503
Farmers Insurance review
Explore Bankrate's review
How much is homeowners insurance in Illinois?
The average cost of homeowners insurance in Illinois is $1,376 per year for $250,000 in dwelling coverage. This is roughly in line with the national average of $1,383 per year. Illinois experiences a wide range of extreme weather, from intense summer storms to gale-force winds to golf ball-sized hail. Additionally, homeowners insurance premiums in Chicago are much higher than in the rest of the state, which could be a driving force behind Illinois’ overall homeowners insurance average.
Home insurance in Illinois
When you’re shopping for the best home insurance in Illinois, you may want to think about the common types of damage in the state. Understanding how your home is likely to be damaged may help you choose coverage options to suit your needs.
Common causes of loss in Illinois
In 2019, homeowners insurance companies in Illinois incurred nearly $2.9 billion in losses. Like many Midwestern states, weather events make up the bulk of the common causes of damage in the state, including:
- Wind: Strong summer storms are relatively common in Illinois. The state has one of the highest instances of severe storms, with nearly twice as many wind damage reports as hail. Wind can damage your home’s roof, siding and windows, which can then cause interior damage.
- Hail: Hail can vary in size, from tiny pieces smaller than a pebble to pieces larger than a softball. Hail storms can cause damage — sometimes extensive — to the exterior of your home, allowing rain inside.
- Flooding: Many counties in Illinois have a higher-than-average risk of flood damage. Flood damage can escalate quickly, with just one inch of water potentially causing $25,000 in damage.
- Burglary and theft: Especially in the Chicago area, due to the population density, break-ins may be more common. You can help protect your property with a home security system, which often nets you a discount on your homeowners insurance.
Now that you know what losses are common in Illinois, you may feel more confident choosing coverage types and limits to give you proper protection.
Home insurance coverage options in Illinois
Outside of standard home insurance coverage types like dwelling coverage, liability and personal property coverage, there are some additional protections that Illinois homeowners may want to consider:
- Flood insurance: Damage caused by floods is not covered by a standard home insurance policy. Typically, you will need to purchase a separate flood insurance policy, although a few companies offer flood insurance as an endorsement.
- Water backup coverage: It is relatively common in this area of the country for water to back up into sewer and drain lines during heavy rains. This can be of particular concern if your home has a basement or crawl space. Many companies offer a water backup endorsement to provide coverage for this type of damage.
- Earthquake insurance: The southern part of Illinois is near the New Madrid fault, putting it at a higher risk for earthquakes. Earthquake damage is not usually covered by your home insurance automatically, but you may be able to add it by endorsement. If you are in a particularly high-risk area, you may need an earthquake insurance policy.
- Identity theft coverage: As the world becomes increasingly reliant on digital technology, identity theft is becoming more common. This common endorsement covers costs associated with restoring your stolen identity.
Working with a licensed agent to help you choose coverage options can be helpful. Agents can help guide you through the insurance process and can help you choose coverage that is appropriate to your situation.