Get Illinois Homeowners Insurance Quotes!

Are you searching for the best homeowners insurance in Illinois and homeowners insurance companies you can get it from?

Insurance Geek will provide you with all the information you need on the coverage options for your home in Illinois.

When you use our quote tool, you’ll generate the most affordable prices for your home insurance policy. However, Insurance Geek also wants to make sure you understand all the terms coming from the insurance lingo before you decide whether you want to get a home policy. That’s why we’ve made this comprehensive guide that explains it all!

We’re super-committed to giving you the best possible Illinois homeowners coverage – so, let’s talk about how premiums are determined and what sound coverage looks like!

Illinois Home Insurance: The Basics

Whether you’re settling down in Chicago, Aurora, or a tiny town at the tip of Canada, Illinois is a beautiful state. If you’re willing to buckle down for a more frigid winter, you’ll find Illinois land of opportunity – from the larger metro areas to smaller, comfy suburbs that are great places to live, there’s no doubt you’ll love Illinois.

Oh, and did we mention the food? Especially in the Chicago area, you’ll find some of the nation’s top cuisine – like the famous Chicago deep-dish pizza – and some of the most desirable real estate in the country. Read on to discover more about what insurance may set you back in Illinois based on your location.

The state borders Wisconsin, Michigan, Indiana, Iowa, Missouri, and Kentucky.

Generally, Illinois has lower than average national crime rates. Chicago does have dangerous areas – specifically, Southside areas that may include violent crimes or mugging. Regardless, most of Chicago is fairly safe, and even suburban areas outside Chicago bring down the national average.

Chicago is no stranger to inclement weather. Devastating thunderstorms, the infrequent tornado, hail, and crazy cold winters can cause ice and wind damage to your property.

Peril

A PERIL can include everything, from natural disasters to other risks such as burglary – all things a person can experience when living in Illinois.

In other words, perils can cause a loss to your property. You are protected against those perils that are included in your home insurance policy, and you can file an insurance claim to receive compensation for the damages.

Bear in mind that you will have to cover your deductible, aka the amount you need to pay out of your pocket prior to your homeowners insurance policy paying out. While discussing your insurance policy with our agents and the insurance company you choose, you will select what suits you better: a higher deductible, which means that your premiums will be lower, or vice versa.

To ensure that you have suitable home insurance in Illinois, you should get covered against the following most common perils:

  • Wind damage
  • Ice damage
  • Tornadoes
  • Hail
  • Theft
  • Vandalism
  • Fire
  • Water backup

Generally, you can check out all the terms & conditions of your homeowners policy on its declarations page.

How are Premiums Determined in Illinois?

The cost of homeowners insurance may vary with various factors, your location being only one of them, and we’ve already explained where Illinois scores in terms of affordability.

Other elements of your premium include:

Value of Your Home

The biggest portion of your homeowners policy accounts for your house – that is, ensures that it can get completely rebuilt or repaired under any circumstances.

So, it’s only logical that its replacement cost largely contributes to determining the price of your homeowners insurance. If you wish to learn more about replacement cost coverage and how it differs from the cash value of your home, you can check out our article in which we’ve covered it in-depth here.

In general, when assessing the value of your home, the insurance company will consider its age, the materials of construction, and general condition.

Insurance Company

The price of your Illinois homeowners policy will also vary from one company to another. Each insurance company has its assortment of products and pros and cons.

Our job at Insurance Geek is to help you find the company that has what you are looking for at the best price possible.

All of the homeowners insurance companies we’ve partnered with as our carriers are approved by the Illinois Department of Insurance and have great options for Illinois.

Credit Score

You may not know this, but the home insurance company will also have a look into your credit score.

That being said, if you have a negative credit score, don’t despair; there are multiple ways to fix it, and this is by no means the most important factor for the company.

It’s only logical, though – they need to ensure that you’ll be able to pay your premiums (and deductible) punctually, and a good financial history is proof of that.

Previous Claims

You may be wondering why is this piece of information relevant to an insurance company when you wish to obtain a completely new coverage option from them.

Well, the truth is that home insurance companies will consider previous claims because they are signals that your property has already been damaged by perils and that it is more likely to occur again. This may bring the rate of your premium up.

Discounts

All of the factors above seem to can go either good or bad and either reduce your price or elevate it.

However, here’s one that can only work to your benefit – discounts!

It’s absolutely possible to save up on your homeowners insurance policy in many ways.

One of them, for example, is paying upfront. Another one is the proximity of the fire department or security systems like alarms.

But the most popular way in which our customers save up is getting multiple kinds of policies from the same insurance company (e.g., car insurance + home insurance).

So, if your needs are such that you need multiple types of coverage, make sure to inform our agents about it, and we’ll help you score a discount with your bundle.

What is the Best Option for Home Insurance in Illinois?

Coverage options have multiple layers.

To start you with, let’s go over the two main types of homeowners insurance policies: a named and an all peril one.

NAMED Policy

Named homeowners insurance policies are somewhat limited because they only protect you against named risks, i.e., perils. By “named,” we mean explicitly stated and noted.

This option is good to cover a potential gap in your Illinois homeowners policy.

If that’s what you wish to do, you can share your existing policy with us, and we’ll help you determine what else do you need.

ALL PERIL Policy

A much more beneficial option for homeowners insurance policies is all peril coverage.

Unlike with a named policy, perils do not have to be explicitly stated. It is implied that you are protected against all perils (just like the name suggests) unless it has been emphasized that a certain peril is omitted.

For Illinois, it is best to talk to us about ALL PERIL coverage to ensure that you’re protected in the event of any of the dangerous events we’ve mentioned above.

Get Home Insurance Quotes Today

It’s not always easy to call a quote an ‘average’ policy quote because the property and the needs of homeowners are so different.

And with a myriad of options, how do you choose the right company?

Our licensed insurance agents utilize the experience and connections we have with our carriers to generate instant Illinois homeowners insurance quotes for you and make the shopping easier.

The most convenient way to find the best insurance quote is to fill out our handy quote tool!

You’ll find it on this page – it’s the best way to put in your specific information, such as your address & ZIP code (you only have to put it in once!), so that Insurance Geek can match you with the right option for you.

Customer experience and customer satisfaction are our primary goals, and we will go out of our way to find you a tailored home insurance policy.

Discount Types

Various discounts may be available when you are purchasing home insurance.

Discounts range from paying your policy in full at once to discounts if you get multiple kinds of insurance with the same company.

So, if you’re looking to save, bundle discounts are a great way to do it! Homeowners, life, health, car insurance – all these can be bundled to help you save and to get you the right kind of protection you need for your family.

Top Cities & Metro Suburbs in Illinois for Homeowners

Illinois ZIP code home insurance companies

Insurance Geek customers come from all over the state of Illinois, regardless of the ZIP code. Many are from the biggest cities, even though insurance can be more expensive there.

The largest cities in Illinois include:

  • Chicago
  • Naperville
  • Aurora
  • Joliet
  • Rockford
  • Springfield
  • Elgin
  • Peoria

On the other hand, living in the suburbs is cheaper when it comes to home insurance costs.

Many homeowners who seek a policy come from the top suburbs in Illinois:

  • Clarendon Hills
  • Buffalo Grove
  • Long Grove
  • Indian Head Park
  • Oak Park
  • La Grange Park
  • Libertyville
  • Northbrook
  • Lisle
  • Evanston
  • Western Springs
  • Hinsdale
  • Vernon Hills
  • Wilmette
  • Winnetka
  • Wheaton

Our insurance carriers for homeowners are Safeco, a Liberty Mutual company, and Nationwide, a Mutual Insurance company.

The customer experience and customer satisfaction with these two carriers are a true testimony of their quality.

What you’ll pay depends heavily on a variety of factors such as your credit rating, whether you’ve had an incident in the last few years, how close you are to a fireplug/your fire district rating, the materials your home is made out of and more.

Who Should Get Illinois Homeowners Insurance?

The answer is simple – ANYONE dwelling in a home they own and are responsible for should get homeowners insurance. It doesn’t matter whether you are a new homeowner or not.

Home insurance will save you no matter what happens, and that peace of mind is priceless.

What’s more, your mortgage lender will require proof that you have homeowners insurance coverage because they ought to be certain that it can be rebuilt no matter what happens.

What Does Home Insurance Coverage Include?

Home insurance coverage options differ from policy to policy, although there is a basic structure that most of the options follow.

A typical policy features the following kinds of homeowners coverage:

  • Coverage A – Dwelling Amount

Your dwelling amount, or dwelling coverage, is dedicated to repairing the physical structure of your home.

So, it’s basically the first thing that comes to mind when you think about home insurance, even though it is much more than that.

Also, the dwelling amount limit is usually based on the replacement cost of your house.

  • Coverage B – Separate Structures

Those parts of your property that are detached or attached to your home, such as gazebos, pools, fences, garages, and mailboxes, are protected by separate structures insurance.

  • Coverage C – Personal Property

Personal property refers to all of your belongings in the house – furniture, clothes, appliances.

Sometimes, homeowners get additional coverage for personal property in case they want to secure their most expensive items, such as jewelry and antiques. Safeco offers their Valuable Articles Coverage for this purpose, whereas Nationwide has their Valuables Plus option.

  • Coverage D – Loss of Use

Loss of use coverage kicks in when additional living expenses arise if you are unable to live in your house for a certain period. These can be things like transportation, rental, restaurant bills, and so on.

  • Coverage E – Personal Liability Coverage

You can file personal liability claims in case you or your family members are found legally responsible for an accident.

  • Coverage F – Medical Payments

MedPay coverage or Coverage F reimburses the medical bills if guests get injured on your insured property.

What Isn’t Included in Your Policy?

Your homeowners policy is the most suitable way to protect your home.

However, at times, it might not be all you need.

Here are some other insurance products we would recommend:

Flood Insurance

Flood insurance has to be purchased separately, but you can get protection from water damages in the form of the drain, sewer, and water backup add-on policies that both Nationwide and Safeco have.

Auto Insurance (Car Insurance)

Just like home insurance, auto insurance or car insurance is a necessity.

Our carriers have car insurance policies available in all states. If you want to get the best auto insurance quotes, please see our auto insurance calculator.

Life Insurance

Every homeowner should go for a life insurance policy, too.

We work with the best life insurance companies to get you the cheapest rates on life insurance.

Other

Other types of Illinois coverage include mine subsidence insurance, identity theft, and credit card coverage, equipment breakdown insurance, etc.

Just let Insurance Geek know about your needs, and we’ll find an adequate policy or endorsement for you.

Home Insurance in Illinois: FAQ

Q: How much is homeowners insurance in Illinois?

A: The average cost of home insurance in Illinois is around $1,405, which is slightly higher than the average cost in the states. As the Insurance Information Institute states, however, home insurance premium continues to rise, so Illinois policy might get more expensive in the future. For now, it is still more affordable than in some other states like Texas, but the price for your particular case will also depend on elements such as the state of your home and your credit score.

Q: What are the best insurance companies in Illinois?

A: The title of the best insurance companies in Illinois goes to Safeco and Nationwide. In our experience, they have excellent customer service and high customer satisfaction ratings. Also, their home insurance products are diverse, and there is something for everyone – not to mention the affordable prices.

Final Words

best homeowners insurance in Illinois

Now you are equipped with the information you need to score the best Illinois homeowners insurance policy for you.

If you use our quote tool and tell us your ZIP code in Illinois, we’ll get you quotes from multiple homeowners insurance companies. Then, you can compare the quotes and choose what works best for you!

An insurance agent will help you decide on the homeowners insurance company and guide you through all the steps in the process.