Best Homeowners Insurance in Illinois
The average cost of homeowners insurance in Illinois is $2,149 per year for $300,000 in dwelling coverage, slightly below the national average of $2,329. However, premiums can vary significantly based on factors such as home age, location, value, claims history, and credit score.
Best for Affordability: Allstate
Allstate offers competitive rates and various discounts, including up to 25% off for bundling home and auto insurance. Their HostAdvantage plan covers property rental on platforms like Airbnb.
Best for Replacement Cost Coverage: Erie
Erie Insurance provides 100% guaranteed replacement costs, covering rebuilding expenses even if labor and material costs rise. They also offer unique features like gift card reimbursement and coverage for lost cash and precious metals.
Best for Optional Add-ons: Amica
Amica’s Platinum Choice homeowners insurance offers extended coverage for jewelry, liability, and more situations than standard policies. They also provide computer coverage and sump pump backup coverage.
Best for High-Value Homes: Chubb
Chubb’s Masterpiece plan includes extended replacement cost, water backup coverage, and a cash settlement option. It starts at $1 million in dwelling coverage and offers personal liability coverage up to $100 million.
Best for Veterans and Military: USAA
USAA offers comprehensive coverage, including replacement cost coverage, personal liability, and coverage for military uniforms and equipment. They also provide discounts for smart home devices and claims-free history.
How to Save on Homeowners Insurance in Illinois
- Bundle your coverage to save up to 25% on annual premiums.
- Raise your deductible to lower premiums, but ensure you can afford the deductible.
- Improve your credit score to potentially lower premiums.
- Compare rates from at least three insurance companies to find the best deal.
Homeowners Insurance in Illinois FAQs
- What’s the best homeowners insurance in Illinois? Our top picks are Amica, Allstate, Erie, Chubb, and USAA, based on cost, customer service, and coverage options.
- Why have homeowners insurance premiums risen in Illinois? Premiums are increasing due to higher building costs, construction expenses, and more frequent natural disasters.
- Who offers the cheapest homeowners insurance in Illinois? Allstate has the most affordable rates according to our analysis, but prices vary based on home characteristics and personal factors.
