Finding the top homeowners insurance in Illinois can be overwhelming, as you need to consider a number of different elements before choosing the right one for you. . We took the time to study each company’s market share, coverages, and discounts to find out which ones offered customers the most bang for their buck.
Based on their strong coverage offerings and low average prices, Allstate or American Family Insurance are top contenders for homeowners looking for home insurance in Illinois. We also profiled policies from State Farm, Farmers Insurance, and Country Financial.
The 5 Best Homeowners Insurance Companies in Illinois
|Allstate||American Family||State Farm||Farmers||Country Financial|
|Our review||Our review||Our review||Our review|
|A.M Best Financial Strength Rating||A+||A||A++||A||A|
|J.D. Power Overall Customer Satisfaction Score||3/5||3/5||4/5||3/5||3/5|
|Online Quote Tool||✓||✓||✓||✓||✓|
|Compare rates||Compare rates||Compare rates||Compare rates||Compare rates|
Average Cost of Homeowners Insurance in Illinois
The average annual premium for homeowners insurance in Illinois is $1,056. Considering the national average home insurance premium is $1,211, Illinois residents can expect slightly lower premiums than if they live in many other states.
Keep in mind that average premiums are based on general profiles, and the specific features of the home will have a substantial effect on how much a homeowner actually ends up paying. Factors like the size and age of the home, as well as what discounts the homeowner qualifies for, will determine the policy’s price.
Home Insurance Add-ons That Will Further Protect You
People living in Illinois experience their fair share of natural disasters. Flooding, thunderstorms, and tornadoes do happen in the state, and homeowners should consider including additional coverages in their home insurance policy to save themselves a lot of trouble later on.
Insurance for flooding and other natural disasters isn’t usually included in regular homeowners insurance coverage, so checking into what exactly is covered under the policy is important during the quoting process, either online or with a live agent.
Helpful Resources for Illinois Homeowners
Please include any helpful resources for homeowners looking for home insurance in this specific location. These resources should be geo specific (for example, Coastal Marketing Assistance Program in NY) that they would need in order to most informed decision about their carrier of preference.
In addition, include information regarding the process of obtaining insurance – Where should people go (online and physical)? What steps should be taken? What documents are necessary? Any important deadlines, locations or timelines to consider?
A good place to learn more about the specific home insurance laws in the state is the Illinois Department of Insurance. Their website offers information on initiatives designed to aid homeowners, such as corrugated stainless steel tubing safety and the Illinois FAIR Plan. And the department resources also include tips about homeowners insurance in Illinois.
The local chapter of the Community Associations Institute wrote a helpful primer on the difference between HO-3 and HO-6 home insurance policies, and how the difference between the two policies affect single-family home communities.
For homeowners interested in learning more about flood insurance, FEMA has compiled resources on The National Flood Insurance Program, which covers what to do in the event of a flood and why flood insurance is important for homeowners.
To find the best fit for a home insurance policy, people will usually get quotes from a few different companies in the area. If the company has an online quote tool, then the process should be as easy as going to the website and typing in the details. If the insurer doesn’t have an online tool, then live agents are usually available with a quick phone call.
We began our search to find the best home insurance companies in Illinois by looking at which ones have the largest market share in the state. After we determined the top companies, we dug into their customer satisfaction and financial strength ratings from industry organizations like J.D Power and A.M Best. Finally, we checked out what discounts and additional coverages each insurer has available in Illinois and focused on how valuable those discounts and coverages would be to local homeowners.
Best Illinois Homeowners Insurance Companies
- Low prices in Illinois
- Customizable coverages
- Additional coverages ramp up cost
- Average customer satisfaction
Allstate is the go-to insurance option for many people, and our research found that this company offers the lowest average premium of all home insurers in Illinois, which means anyone in the market for a new policy would do well to get a quote from Allstate.
The company’s home insurance policies typically include dwelling coverage, liability protection, personal property coverage, and guest medical protection. And Allstate offers discounts for multiple policies, auto-payments, claims-free homeowners, and more.
Allstate received 3 out of 5 for overall customer satisfaction in J.D. Power’s 2019 U.S. Home Insurance Study, and the company scored an A+ financial strength rating from AM Best.
- Standard Policy includes many coverages
- Offers bundled policies
- Average customer satisfaction
Like Allstate, American Family offers low rates on their home insurance policies for Illinois residents. Our research found their average annual premiums to be the second-lowest of all Illinois home insurers.
American Family shines in the number of coverages that are already included in their standard policies, such as fire & smoke, tornadoes, leaking roofs, lightning, theft, hail & windstorms, falling objects, wildfires, and riots or vandalism.
J.D. Power gave American Family a 3 out of 5 in terms of overall customer satisfaction, and AM Best ranked the insurer with an A in terms of financial strength.
- Top financial strength
- Good customer satisfaction
- Average prices in Illinois
As the largest provider of home and auto insurance in the U.S., State Farm has definitely made its mark on the industry. Our research found home insurance policies from this insurer to be about average in Illinois.
Under a standard home insurance policy, State Farm offers coverage for incidents like fire, theft, snow, and smoke, and the policy also covers personal effects like home appliances and jewelry.
When it comes to customer satisfaction and financial strength, State Farm leads the pack. J.D. Power’s 2019 U.S. Home Insurance Study scored the company with a 4 out of 5 in overall customer satisfaction, and AM best awarded State Farm top marks with a financial strength rating of A++.
- Claims forgiveness
- Eco-rebuild coverage
- Expensive rates in Illinois
Farmers Insurance offers three main tiers with their home insurance policies—standard, enhanced, and premier. Each tier contains different levels of coverage.
After choosing one of the three tiers, homeowners can further customize their policy with additional coverages like eco-rebuild, which allows homeowners to rebuild their home with green materials after a fire.
We found Farmers average premium to be higher in Illinois when compared to the competition. The company received a 3 out of 5 in customer satisfaction from J.D. power and an A in financial strength rating from AM Best.
- Comprehensive online quoting
- Replacement coverage options
- Expensive rates in Illinois
- Average customer satisfaction
Similar to Farmers, Country Financial offers three main options for their home insurance policies—basic, premier, and combined, with combined being the most comprehensive and most expensive of the three.
Country Financial offers qualifying home policies four different options on replacement coverage, including actual cash value, replacement cost, extended replacement cost, and additional replacement cost.
We found Country Financial’s policies to be more expensive than the other leading insurers we profiled. J.D. Power gave Country Financial a 3 out of 5 in customer satisfaction, and AM Best awarded the company an A+ in financial strength.
The Cheapest Homeowner Insurance Companies In Illinois
|Homeowner Insurance Companies||Average Annual Premium|
|Memberselect Insurance Company||$1,021|
|Garrison Property & Casualty Insurance Company||$1,110|
|American Family Insurance||$1,113|
|Metropolitan Insurance||$ 1,256|
|State Farm||$ 1,344|
|Hastings Mutual Insurance Company||$1,747|
|Country Financial||$ 2,383|
|Liberty Mutual Fire Insurance Company||$ 2,964|
Homeowner Insurance by Age of Home
|Homeowner Insurance by Age of Home||Average Annual Premium|
|Average Across Tiers||$2,035|
Quadrant home insurance rate data as of 12/01/2019.
These rates are a sample set meant only for general comparison. Your own premium will vary.
Top 3 Cheapest Homeowner Insurance Companies in Illinois
- Allstate – $868
- Memberselect Insurance Company – $1,021
- USAA – $1,069
Top 3 Most Expensive Homeowner Insurance Companies in Illinois
- Liberty Mutual Fire Insurance Company – $2,964
- Encompass – $2,577
- Country Financial – $2,383
To find the cheapest and most expensive home insurance companies in Illinois, we looked to data sourced from Quadrant. The data shows that the three cheapest home insurers in Illinois are Allstate, Memberselect, and USAA, and Illinois’ three most expensive home insurers are Liberty Mutual, Encompass, and Country Financial.
Keep in mind that these rates are based on general profiles and do not necessarily reflect the actual premium homeowners will receive. Make sure to get personalized quotes from the insurers by using an online quote tool or calling an insurance agent in the area.
Homeowners Insurance FAQ
Homeowners in Illinois are not required to have homeowners insurance, but many mortgage lenders will require homeowners to have home insurance.
Our research shows that Allstate is the cheapest homeowners insurance company in Illinois.
Based on data from Quadrant Information Services, the three cheapest providers in Illinois are Allstate, Memberselect, and USAA.