Best Renters Insurance in Illinois (2024)
State Farm has the best renters insurance in Illinois and charges the cheapest average rate of $8 a month.
American Family has the state’s best discounts and add-on coverages.
Cheapest renters insurance companies in Illinois
This is less than half the state average renters insurance rate of $18 a month.
State Farm has more add-on coverage options than Lemonade. Lemonade has the better customer satisfaction score (from J.D. Power) of the two companies.
| Company | Monthly rate | Annual rate |
|---|---|---|
| Lemonade | $8 | $96 |
| State Farm | $8 | $96 |
| Amica | $15 | $180 |
| Allstate | $17 | $204 |
| State average | $18 | $216 |
| Progressive | $19 | $228 |
| Farmers | $19 | $228 |
| Assurant | $23 | $276 |
| American Family | $31 | $372 |
To find the best cheap renters insurance for your situation, compare renters insurance quotes from several companies before you buy or renew a policy.
Best renters insurance companies in Illinois
The best renters insurance company in Illinois is State Farm, though American Family may be the best company for those who want add-on coverages.
Best overall company: State Farm
It also has a helpful website and an app that’s easy to use.
| Pros | Cons |
|---|---|
Lowest average rate in the state More add-on coverages than most other companies Third-best customer satisfaction score of surveyed companies in the state | Offers only a few discounts |
Best for cheap renters insurance rates: Lemonade and State Farm
It’s a good thing these companies have a low average rate, as neither offers many discounts that could make your policy even cheaper.
With both companies, you can get renters insurances discount for bundling more than one policy with them or for renting a place that includes protective devices like burglar or smoke alarms.
Best renters insurance discounts: American Family
American Family customers can get renters insurance discounts if they:
- Bundle renters and auto insurance policies with American Family
- Live in a home with protection devices
- Sign up for automatic payments
- Have parents who are American Family customers
- Pay in full when they buy their policy
- Receive bills electronically
American Family’s average rate of $31 a month is the highest of the renters insurance companies we surveyed in Illinois, but these discounts could make it the cheapest for you.
Best add-on coverages: American Family
You can add these and other optional coverages when you buy a renters insurance policy from American Family:
- Itemized personal property
- Flash flood
- Travel protection
- Equipment breakdown
- Pet insurance
- Credit monitoring
Best for customer satisfaction: American Family
If customer service and satisfaction are important to you, get a renters insurance quote from American Family.
To come up with its ratings, J.D. Power looks at interaction, policy offerings, price, billing process and policy information, and claims.
How much is renters insurance in Illinois?
What you pay for renters insurance may be more or less than the state average because of things like:
- Types and amounts of coverage you buy
- Deductible you choose
- Value of your belongings
- Where you live in the state
Illinois renters insurance cost by city
Renters in Naperville pay the cheapest renters insurance rates among Illinois cities, at an average of $16 a month.
Rockford and Springfield are the most expensive cities in Illinois for renters insurance. The average cost in both cities is $19 a month.
Renters insurance in Chicago costs $18 a month, on average.
| City | Monthly rate | Annual rate |
|---|---|---|
| Aurora | $17 | $204 |
| Champaign | $17 | $204 |
| Chicago | $18 | $216 |
| Elgin | $17 | $204 |
| Joliet | $18 | $216 |
| Naperville | $16 | $192 |
| Peoria | $18 | $216 |
| Rockford | $19 | $228 |
| Springfield | $19 | $228 |
| Waukegan | $17 | $204 |
Is renters insurance required in Illinois?
Buying renters insurance is a good idea even if your landlord doesn’t require it.
- It protects you against liability claims if you damage the building or if someone is injured while visiting you.
- It covers your possessions from damage or destruction. Your landlord’s insurance policy won’t cover this.
What does renters insurance cover in Illinois?
Additional living expenses
This coverage type, also called loss of use coverage, can help pay some of your extra bills if you have to relocate while your rental home is repaired. Some of the bills it can cover:
- Higher food, laundry and transportation bills
- Hotel costs
- Moving fees
- Storage rental
- Pet boarding
Personal property
Your renters insurance policy’s personal property coverage protects your belongings or possessions. This may include:
- Artwork
- Electronics
- Furniture
- Clothing
- Jewelry
If events like fire, lightning, theft or vandalism damage or destroy any of your things, your policy might pay to repair or replace them.
Personal liability
This portion of your policy can protect you if someone is injured or their belongings are damaged while visiting your home. This can include legal fees and court costs.
Frequently asked questions
The average cost of renters insurance in Illinois is $18 a month, or $216 a year.
You might pay more or less than this amount because of things like where you live and how much stuff you own and want to protect.
Chicago renters insurance costs $18 a month, on average. Where you buy a policy can have a big impact on what you pay, though.
The best company for cheap renters insurance in Chicago is Lemonade, for example. Lemonade charges Chicago renters $9 a month, on average. American Family has the most expensive renters insurance in Chicago, at just under $29 a month.
To get the cheapest renters insurance in Illinois, get quotes from Lemonade and State Farm. Both companies charge $8 a month, on average, based on our data. This is nearly half the cost of the next-cheapest company, Amica.