The combination of Midwest charm and affordable housing makes Illinois an attractive place to live. While the Prairie State’s cities have a lot to offer, there are challenges that its residents might encounter when choosing the right homeowner’s insurance company for them.
Our team took the time to study the home insurance companies’ market share, average annual premiums, coverages offering and discounts to determine which ones provide customers the best home insurance in Illinois.
Our list of top contenders for best homeowners insurance in Illinois includes well-known national players like Farmers and Allstate and smaller companies such as Country Financial. Some of our choices also made the cut for our nationwide list of best homeowners insurance companies.
The 5 Best Homeowners Insurance Companies in Illinois
Compare the Best Illinois Homeowners Insurance
| Provider | Average Price | AM Best Financial Strength | J.D. Power Overall Customer Satisfaction |
| Allstate | $868 | A+ | 814 |
| American Family | $1,113 | A | 881 |
| State Farm | $ 1,344 | A++ | 831 |
| Farmers | $1,470 | A | 808 |
| Country Financial | $2,383 | A+ | 814 |
Information as of 09/07/2020
Allstate
Allstate’s strength is in the diversity of its offerings and discounts, which allow you to pick and choose the coverage that works best for your circumstances. It has a great website with tons of useful information.
Most Customizable
Why we chose it
Why we chose it
Pros
- Diverse discount opportunities
- Informative website and digital tools
- Above-average customer service
Cons
- NAIC complaint index high
- Financial strength ratings good, but not great
Discounts available
- Early signing discount
- Homebuyer discount
- Hail-resistant roof discount
Unique features
Allstate’s discount list is longer than most national insurers. You could save up to 10% on your premiums if you sign up for your new policy at least seven days before the current one expires.
*J.D. Power 2019 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on Allstate:
American Family Insurance
American Family Insurance is a good choice for any type of homeowner, but it especially shines for new homebuyers. The insurer’s affordable premiums and various online learning resources are ideal for someone just getting started with purchasing their first home.
Best for New Homebuyers
Why we chose it
Why we chose it
Pros
- Customizable coverage options
- Good customer satisfaction ratings (24/7 claims center)
- Solid financial ratings
- Helpful digital resources for new homebuyers
Cons
- Not BBB accredited
- Limited availability
Discounts available
- Smart home discount
- Generational discount if your parents are policyholders
- Renovated home discount
Unique features
American Family’s MyAmFam App was redesigned to make managing your homeowners insurance policy easier.
*J.D. Power 2019 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on American Family:
- American Family Homeowners Insurance Review
- American Family Renters Insurance Review
- American Family Auto Insurance Review
State Farm
State Farm offers above-average customer support along with competitive pricing and solid coverage options. For those new to homeownership, its Simple Insights blog can tell you everything you need to know about homeownership in general.
Best Web Experience
Why we chose it
Why we chose it
Pros
- Financially strong
- Excellent web presence
- 19,000+ agents nationally
- Informative blog
Cons
- Limited discounts
- Higher premiums
Discounts available
- Multiple policy discount
- Fire, smoke, or burglar alarms discount
- Impact-resistant roof discount
Unique features
State Farm’s comprehensive website makes it easy to get a detailed quote in minutes. You can also pay your bill, file and manage a claim, and handle most maintenance tasks either online or via the company’s app.
*J.D. Power 2019 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on State Farm:
Farmers
Farmers offers an unusual quoting system that features three tiers of service. Within those three tiers, you can further customize your policy if you have, say, expensive electronics or jewelry to cover.
Best Pricing Options
Why we chose it
Why we chose it
Pros
- Three tiers of coverage
- Bundling discounts
- Identity theft coverage available
Cons
- Sparse website
- Not as many discounts
Discounts available
- Nonsmokers discount
- Multiple policies discount
- Professional group member discount
Unique features
Farmers’ three tiers — standard, enhanced, and premier — let you pick the best coverage based on cost and coverages. The highest level, premier, includes replacement cost coverage with 100% reimbursement regardless of policy limits.
*J.D. Power 2019 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on Farmers:
Country Financial
Country Financial offers home insurance, as well as a variety of other types of policies and financial services. If you’d like to have all your insurance coverage in one place, you’ll save time and money by working with a single insurer.
Best for Bundling
Why we chose it
Why we chose it
Pros
- Pre-bundled homeowners insurance policies
- 24/7 claims service
- A variety of discounts available
Cons
- No mobile app for homeowners insurance
- Not rated in customer satisfaction or financial standing by some of the top companies
Discounts available
- Safe heat discount
- Age of wiring discount
- New roof discount
Unique features
Country Financial prides itself in being a smaller, more personalized insurer. The company limits homeowners insurance coverage to just a few states, but those who qualify have access to a solid product and a variety of additional insurance coverages and investments.
*J.D. Power 2019 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on Country Financial:
Average Cost of Homeowners Insurance in Illinois
According to the Insurance Information Institute, the average annual premium for homeowners insurance in Illinois is $1,056. Compared to the national average home insurance premium of $1,211, Illinois residents can expect slightly lower premiums than homeowners in other states. But keep in mind that factors like natural hazards risk and crime rates in your area can affect what you end up paying for your home insurance.
Another thing you need to be aware of is that average premiums are based on individual profiles, the specific features like the size and age of your home and what discounts the you qualify for will be key to determining the cost of your home insurance.
Top 3 Cheapest Homeowners Insurance Companies in Illinois
- Travelers – $1,166 annual average premium
- MetLife – $1,197 annual average premium
- State Farm – $1,205 annual average premium
Average Premiums for Homeowner Insurance Companies in Illinois
Using Quadrant Information Services data, we analyzed home insurance companies in the United States and compared the best homeowners insurance rates in Illinois. We found that the average premium for home insurance in Illinois is $1,682. However, homeowners may be able to find cheap home insurance rates, like $1,66 a year with Travelers.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
The coverage limits in our methodology are these:
- Coverage A, Dwelling: $200,000
- Coverage B, Other Structures: $0
- Coverage C, Personal Property: $100,000
- Coverage D, Loss of Use: $40,000
- Coverage E, Liability: $250,000
- Coverage F, Medical Payments: $1,500
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
| Carrier | Yearly Average Premium | Montly Average Prremium |
| Chubb | $2,956.15 | $246.35 |
| Country Financial | $2,333.32 | $194.44 |
| American Family | $1,854.98 | $154.58 |
| Farmers | $1,806.36 | $150.53 |
| Allstate | $1,708.79 | $142.40 |
| Hastings Mutual | $1,461.30 | $121.78 |
| AAA | $1,409.87 | $117.49 |
| USAA | $1,409.71 | $117.48 |
| State Farm | $1,205.12 | $100.43 |
| MetLife | $1,197.74 | $99.81 |
| Travelers | $1,166.78 | $97.23 |
Source: Coverage.com
Largest Companies by Market Share in California
| Homeowner Insurance Companies |
| Allstate |
| Memberselect Insurance Company |
| USAA |
| Garrison Property & Casualty Insurance Company |
| American Family Insurance |
| Metropolitan Insurance |
| State Farm |
| Farmers Insurance |
| Hastings Mutual Insurance Company |
| Chubb |
| Country Financial |
| Encompass |
| Liberty Mutual Fire Insurance Company |
Cost of Homeowners Insurance by Age of Home
| Homeowner Insurance by Age of Home | Average Annual Premium |
| 5 | $1,580 |
| 20 | $2,183 |
| 35 | $2,189 |
| 50 | $2,187 |
| Average Across Tiers | $2,035 |
Top 3 Most Expensive Homeowners Insurance Companies in Illinois
- Chubb– $2,956 annual average premium
- Country Financial – $2,333 annual average premium
- American Family – $1,854 annual average premium
Home Insurance Add-Ons That Will Further Protect You
Natural disasters such as flooding, thunderstorms, and tornadoes can affect the residents of Illinois. Therefore, you need to make sure that you are covered for every possibility and for the right amount of losses that you could have. Add-ons will increase your monthly premiums, but it can save you money in the long run.
Insurance coverage for flooding and other natural disasters might not be included in basic homeowners insurance policies, so before choosing your insurance company, make sure that you understand what your provider offers. Asking around about all these factors is vital during the quoting process since it could avoid economic windfalls if anything happens to your property.
Resources Helpful for Illinois Homeowners
To learn more about specific home insurance laws, you can go to the Illinois Department of Insurance’s official website. You can find information to aid homeowners, such as corrugated stainless steel tubing safety and the Illinois FAIR Plan, along with tips about home insurance in Illinois. For homeowners interested in reading about the hazards that this state faces, the Illinois Emergency Management Agency offers details of the significant threats. Since the Land of Lincoln is prone to floods, FEMA has compiled resources on The National Flood Insurance Program, covering what to do in the event of a flood and the importance of having that coverage as part of your homeowners insurance.
If you feel like you need an explanation on the type of homeowners insurance you need, the local chapter of the Community Associations Institute wrote about the difference between the Ho-3 and HO-6 policies and which one is the right one for your family. Remember that you should get quotes from a few different companies in your area to find the best Illinois home insurance policy for you. The average annual premiums we present in this article are just a starting point since many factors affect each case’s price.
Homeowners Insurance FAQ
Is homeowners insurance required in Illinois?
Homeowners insurance is not required by law in Illinois, but your mortgage lender will require a minimum coverage to protect the property. The limits of the home insurance may increase in areas that are prone to natural disasters.
What is the cheapest homeowners insurance in Illinois?
Travelers homeowners insurance was the cheapest quote we could find in Illinois with an annual average price that starts at $1,166.
Methodology
We evaluated the companies based on their customer rating and experience, financial stability, and coverage to determine the best providers. To compare home insurance companies across the board, we then calculated a Reviews.com score based on the following:
- Customer Ratings — Customer ratings are an indication of satisfaction with the process of filing a claim. We measured this using J.D. Power Homeowners Satisfaction ratings.
- Coverage — As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options and add-ons available.
- Confidence — It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength will not have issues paying out claims, regardless of the amount. However, companies with weak financial strength might not be able to pay out claims. We measured this using AM Best’s ratings, which specializes in assessing the financial strength of insurance companies.
- Customer Experience — The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the NAIC National Complaint Index.
About the Authors
Nina Rodríguez-Quirós is a feature writer for Reviews.com. Over the last year, she has covered insurance providers, claims handling, coverage and more. She has been featured in Allconnect.com and holds a Master’s Degree in Theory and Research of Communications from the University of Puerto Rico. Her favorite review is Millennials and Auto Insurance.
