Finding the Best Renters Insurance in Illinois
37% of Illinois residents tend to rent their homes, with the highest number of renters coming from cities like Chicago and Springfield, with some of them including a certain percentage of students. Renters insurance in Illinois helps you secure your personal belongings, your assets, your family, etc. It provides covering in the event of accidents, damages or injuries that might occur. Say there is a fire or a flood, the renter's insurance covers for the damage, and in the case of your rental becoming uninhabitable, provides a temporary residence for you. Renters insurance is not like the landlord's insurance, which only covers the landlord's investments, building, and some appliances. The renter's insurance covers the renters' personal properties. Getting the best renters insurance in Illinois that suits your taste can be a trying process. This is why we are here to help with finding the best renters insurance for you through this guide. There's a whole lot of renters insurance policies that will suit your taste perfectly, and we'll be showing you some of them.
| Renters Insurance Costs in Illinois | Cost |
|---|---|
| Avg. Cost of Renters Insurance in Illinois Annually | $164.90 |
| Avg. Cost of Renters Insurance in Illinois Per Month | $13.74 |
A Quick Glance at Renters Insurance in Illinois
The average annual cost of renters insurance in Illinois is at $171, ranking 27th in the renter's insurance rates in the US. Illinois can be considered as one of the average states to reside in. It is not too expensive, and also not too cheap. It is ranked 23rd on the list of the most expensive states in the US, which is, as stated earlier, considerably cheap. Being a state that is more on the average side, the percentage of Illinois residents who spend over 30% of their income on utilities and rent is 47.7%, not up to half of its population but still pretty much in its own way. With Illinois being on the high side in violence crimes ratings in us, and considering how prone it is to natural disasters, residents are encouraged to purchase renters insurance policies that fit them best. This is highly recommended to ensure you're covered in case of an emergency or unplanned additional expenses.
| City in Illinois | Costs Per Month for Renters Insurance | Average Costs Per Year for Renters Insurance |
|---|---|---|
| Chicago, IL | $22.29 | $267.52 |
| Aurora, IL | $16.60 | $199.20 |
| Naperville, IL | $16.51 | $198.08 |
| Joliet, IL | $17.47 | $209.60 |
| Rockford, IL | $17.37 | $208.48 |
| Springfield, IL | $17.85 | $214.24 |
| Elgin, IL | $16.19 | $194.24 |
| Peoria, IL | $17.93 | $215.20 |
| Champaign, IL | $16.08 | $192.96 |
| Waukegan, IL | $17.87 | $214.40 |
| Cicero, IL | $17.88 | $214.56 |
| Bloomington, IL | $16.63 | $199.52 |
| Arlington Heights, IL | $17.17 | $206.08 |
| Bolingbrook, IL | $17.04 | $204.48 |
| Evanston, IL | $17.68 | $212.16 |
| Schaumburg, IL | $17.51 | $210.08 |
| Decatur, IL | $17.92 | $215.04 |
| Palatine, IL | $17.25 | $207.04 |
| Skokie, IL | $17.49 | $209.92 |
| Des Plaines, IL | $17.40 | $208.80 |
| Orland Park, IL | $16.01 | $192.16 |
| Tinley Park, IL | $16.21 | $194.56 |
| Oak Lawn, IL | $17.19 | $206.24 |
| Berwyn, IL | $17.47 | $209.60 |
| Normal, IL | $16.95 | $203.36 |
| Mount Prospect, IL | $17.11 | $205.28 |
| Wheaton, IL | $15.81 | $189.76 |
| Oak Park, IL | $17.07 | $204.80 |
| Hoffman Estates, IL | $17.79 | $213.44 |
| Downers Grove, IL | $15.75 | $188.96 |
| Glenview, IL | $17.16 | $205.92 |
| Elmhurst, IL | $15.44 | $185.28 |
| Lombard, IL | $15.93 | $191.20 |
| Plainfield, IL | $16.92 | $203.04 |
| DeKalb, IL | $15.57 | $186.88 |
| Urbana, IL | $16.12 | $193.44 |
| Moline, IL | $18.29 | $219.52 |
| Belleville, IL | $20.29 | $243.52 |
| Bartlett, IL | $16.49 | $197.92 |
| Buffalo Grove, IL | $18.07 | $216.80 |
| Quincy, IL | $19.07 | $228.80 |
| Crystal Lake, IL | $17.16 | $205.92 |
| Romeoville, IL | $17.31 | $207.68 |
| Carol Stream, IL | $16.53 | $198.40 |
| Streamwood, IL | $17.41 | $208.96 |
| Wheeling, IL | $17.35 | $208.16 |
| Hanover Park, IL | $16.91 | $202.88 |
| Carpentersville, IL | $16.37 | $196.48 |
| Rock Island, IL | $18.71 | $224.48 |
| Park Ridge, IL | $17.24 | $206.88 |
Is Renters Insurance Required in Illinois
Illinois has no renters insurance requirement. Getting a renters requirement is not compulsory in Illinois. It is completely dependent on the renters if they would like to get one or not and dependent on the landlords if a renters insurance will be made mandatory for their renters. Landlords who tend to make renters insurance mandatory include it in their lease agreement for their future renters. This is to ensure that they are not made responsible for any charges that a renter’s personal needs might incur. Although getting a renters insurance in Illinois is optional, to avoid losses that might arise from unexpected events, tenants are encouraged to get one as it could minimize property losses that may come up as a result of unexpected events. If you would like to get renter’s insurance in Illinois as a renter, you can always find a good renters insurance policy that guarantees your personal belongings. Though there isn’t any Illinois renters insurance requirement, it is highly recommended.
How Much is Renters Insurance in Illinois
Renters insurance in Illinois is on the average side, with an average annual cost of about $171. Illinois is known for being prone to natural disasters like earthquakes, floods, severe storms, tornadoes, and landslides. These disasters make it necessary for renters to get a renters insurance to cover for cases of loss or damages that may come up. It is important to know these because they are the major influencers of the cost of renters' insurance rates in Illinois. Some factors that influence this are also based on the value of the property you would like to protect, your liabilities, your credit history if you have made a previous claim, and so on. Determining the average renter's insurance in Illinois is important as it helps tenants understand the normal rates. Renters can easily find low-cost renters insurance in Illinois, like state farms with charges of $10 per month and travelers who charge $14 per month.
| Costs of Renters Insurance in Illinois by County | Price Per Month | Price Per Year |
|---|---|---|
| Adams County, IL | $19.07 | $228.80 |
| Champaign County, IL | $16.10 | $193.20 |
| Cook County, IL | $17.43 | $209.19 |
| DeKalb County, IL | $15.57 | $186.88 |
| DuPage County, IL | $16.08 | $192.98 |
| Kane County, IL | $16.28 | $195.36 |
| Lake County, IL | $17.97 | $215.60 |
| Macon County, IL | $17.92 | $215.04 |
| McHenry County, IL | $17.16 | $205.92 |
| McLean County, IL | $16.79 | $201.44 |
| Peoria County, IL | $17.93 | $215.20 |
| Rock Island County, IL | $18.50 | $222.00 |
| Sangamon County, IL | $17.85 | $214.24 |
| St. Clair County, IL | $20.29 | $243.52 |
| Will County, IL | $17.19 | $206.20 |
| Winnebago County, IL | $17.37 | $208.48 |
What Does Renters Insurance Cover in Illinois
Earlier on, we addressed the violent crime rate in Illinois, which is higher than the national violent crime rate in America. This is pretty bad, and you’ll need to be assured of your security in case of theft, riots or vandalism; you’ll need to be assured that your properties are kept safe. You’ll also need to be assured that in case of unprecedented emergencies, there’s always a way out. There’s always a backup plan. And here, your backup plan would be your renter’s insurance policy. Security is key. Your renter’s insurance covers your medical payments for others when someone gets injured. Your renter’s insurance guarantees the security of your personal belongings. Your renter’s insurance secures every single thing you own based on your coverage. If your gadgets get stolen, you can easily replace them by using your renter’s insurance. It also covers your loss of use; when your rental gets so damaged it becomes uninhabitable, your renter’s insurance provides a temporary place of residence. Renters’ insurances are the best answers or responses to unexpended occurrences and emergencies.
Best Renters Insurance Companies in Illinois Based on Consumer Ratings
What are the best renters’ insurance companies in Illinois? Which company is the cheapest renters’ insurance company in Illinois? Which company provides a variety of coverage options for the clients? These are probably questions you would like to have an answer to. Here, we will try to answer these questions one at a time. With a complaint index of 0.38 from NAIC and being ranked as a top choice for renters insurance by J.D. Power, i.e. a 5 out of 5 ratings, State farm is the best renters’ insurance company in Illinois with excellent customer service and the cheapest renters’ insurance company. If you want more coverage options from a renter’s insurance company, state farm would not be the best option as their coverage options are on the low side. The renters’ insurance company with the best coverage option in Illinois would be the traveler’s renters insurance. Though travelers doesn’t have the cheapest rates like State Farm, if you prefer a renter’s insurance company with more coverage options, then travelers is the way to go. It has a complaint index of 0.50 from the NAIC.
| Illinois Renters Insurance Company | JD Power Rating | NAIC Rating |
|---|---|---|
| Allstate Ratings for Renters Insurance in Illinois | 3/5 | 0.31 |
| Farmers Ratings for Renters Insurance in Illinois | 3/5 | 0.39 |
| State Farm Ratings for Renters Insurance in Illinois | 3/5 | 0.2 |
| Travelers Ratings for Renters Insurance in Illinois | 2/5 | 0.3 |
| USAA Ratings for Renters Insurance in Illinois | 5/5 | 0.24 |
| Auto Club (AAA) Ratings for Renters Insurance in Illinois | N/A | 0.36 |
| Country Financial Ratings for Renters Insurance in Illinois | 4/5 | 0.13 |
| Metropolitan Ratings for Renters Insurance in Illinois | 3/5 | 0.43 |
Compare Renters Insurance in Illinois for the Best Rates
Comparing the renter's insurance companies in Illinois will help you decide the right renter's insurance policy that works best for you. If you would like to enjoy discounts which grant you a discounted percentage for being claim-free, giving you a chance to save every year, you remain claim-free. We also have loyalty discounts meant for long-time customers; finally, but not the least, is the multi-policy discount that adds up your auto insurance with your renter's insurance, allowing you to save. To see if you are eligible for these discounts, it is advisable that you prepare all information concerning your financial details and rental property so you can get an accurate quote. There are more renter's insurance discounts. You can look up more of them based on the renters' insurance company. If you would like a cheaper are other insurance company or one with more coverage options, there's a wide range of renters' insurance companies in Illinois to pick from. You just have to be patient and decide carefully.