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Illinois Homeowners Insurance Quotes

Illinois, or the "Prairie State" as we are sometimes known is a mix of small town hospitality, scenic byways, outdoor splendor and big city cultural centers. You will be amazed by all Illinois has to offer. Regardless of whether you are headed to Chicago for a shopping weekend or the Amish country to find a unique piece of handmade furniture, Illinois is a wonderful place to live.

Everyone is aware of how great Chicago is but Illinois has plenty of small town delights and natural beauties. Galena is just one example, this historic city combines nineteenth-century buildings with world class shopping. Outdoor activities abound as well, golfing, river kayaking and hitting nearby vineyards for wine tasting are all available for the taking.

Illinois Residential & Home Facts

Illinois has the fifth largest population in the country with 12,859,995 residents, which means that roughly 4% of the U.S. population calls Illinois home.

In Illinois, there are an average of 3 people living in every house and roughly 3,775 households per zip code. When it comes to median household income, Illinois comes in at number 18th with an average household income of $53,234. Homes are pretty affordable in Illinois with a median home value of $157,000, which was a tiny increase of 0.7% over last year. Illinois real estate reports are predicting a 2.5 percent increase this year making it a great time to get into the market.

Obviously, home prices will vary dramatically by region with the Chicago area being the most expensive. Glencoe for example, a suburb of Chicago, has a median home price of $927,000 compared to Midlothian where the average home comes in at a reasonable $160,000.

Homeowners Insurance in Illinois

The cost to insure a home in Illinois is pretty affordable with the average premium running $881 a year, which is below the national average of $1,034 according to the national average data provided by the national insurance commission and Illinois insurance state department.

There are a few ways to lower your premium even more. Shopping is the number one way to lower your insurance costs. Insurers rate risk differently so finding the right insurer for your type of risk is a great way to cut your insurance rates. Bumping up your deductible from $500 to $1,000 can result in a significant premium drop as well.

Factors to Consider in Illinois

There are many factors that impact homeowners insurance costs but one of the big ones is crime rates. Luckily, crime rates in Illinois come in below the national average with property crime rates at 22.7 per 1,000 residents compared to the national average of 27.7 per 1,000 residents.

One big exception is the city of Chicago. Crime rates in the Windy City are much higher than national average with a violent crime rate of 9 per 1,000 residents, which is almost three times higher than the national average.

Before settling on a neighborhood, check websites such as neighborhoodscout.com to review crime statistics. If the crime rates are too high, keep looking for a new neighborhood as a high crime rate can push insurance costs through the roof.

If Chicago, Springfield, Rockford, or Bonnie Illinois is going to be your new hometown, finding the perfect homeowners insurance policy is key to being happy in your new house. We can make the insurance shopping process quick and easy. Simply fill out our quick and easy Illinois quoting application online and we will shop up to 12 carriers to provide the most affordable rates in Illinois. It's the best way to shop dozens of home insurance companies quickly and ensure you get the best price on your homeowners coverage.

Average Homeowners Insurance Premiums in Illinois

With over 95% of all Americans are known to have homeowners insurance coverage, it's important to know what Illinois homeowners are paying on average. Did you know that the average homeowners insurance premium in Illinois is $1144? Illinois is now ranked 31 in the country. The country wide average for homeowners in the United States is $1,311. This means the average home insurance premium in Illinois is 12.74% less than the national average.

YearAverage Annual PremiumAverage Monthly PremiumState Rank (Overall)
2020$1144 (8.5%)$ 9531
2019$1054 (-4.4%)$ 8833
2018$1103 (4.35%)$ 9228
2017$1056 (1.33%)$ 8829
2016$1042 (0.87%)$ 8728

When we combine the state averages over the last decade, the Illinois overall average is estimated to be around $997.53. Our homeowners insurance quoting and rating process helps you compare homeowners insurance quotes, coverages and premiums. Illinois current state rank compare to the rest of the country is #31. Consider shopping your Illinois home insurance with us so we can help you save up to 40% or more on your policy.

Illinois Homeowners Insurance News & Information

  • $4.5B Estimated In Insured Losses After 2024 Florida Hurricanes Posted on Wednesday 13th November, 2024

    According to the Florida Office of Insurance Regulation, the three hurricanes that made landfall this year have caused more than $4.5 billion in estimated insured losses. Hurricane Debby, Helene and Milton all hit the state within two months of each other Helene and Milton struck just two weeks apart. State data show that over 269,000 […]

  • I can’t afford my home insurance, what do I do? Posted on Saturday 9th November, 2024

    According to data from the National Association of Realtors (NAR), the average U.S. insurance rate is $2,377 a year. The data also suggest that homeowners could see a 6% rise in rates by the end of the year which is in addition to the 20% increase over the two previous years. As climate change pushes […]

  • How to Get the Best Homeowners Insurance Policy for Your Needs Posted on Wednesday 6th November, 2024

    Having the proper insurance coverages in place is a critical part of owning a home, it protects your investment and finances in the event your home is destroyed by an unexpected disaster such as a fire, flood or severe storm.  Understanding the different coverages that are available to homeowners is key to making sure you […]

  • Homeowners Shopping Rates Due to Rise in Premiums Posted on Monday 23rd September, 2024

    According to the recently released J.D. Power 2024 U.S. Home Insurance Study a nationwide rise in premiums has driven many customers to shop for new policies as their rates are now too high.  “’The average shopping rate among home insurance customers has climbed to a record high of 6.8% through the second quarter of 2024, […]

  • Where is it cheaper to rent than to buy a home in the United States? Posted on Thursday 5th September, 2024

    According to a new study from Clever Real Estate, a St. Louis-based real estate company, monthly rent costs are actually cheaper than a monthly mortgage payment in 48 of the 50 most populous cities in the United States. Their analysis looked at mortgage principals, interest, taxes as well as homeowners insurance and they found that […]

Illinois Housing & Real Estate Data

Details:Staticstics
Total Housing Units5296715
Occupied Housing Units4836972
Vacant Housing Units459743
Vacant Housing Units for Rent158882
Vacant Housing Units Rented Not Occupied7998
Vacant Housing Units For Sale82739
Vacant Housing Units Sold Not Occupied16677
Vacant Housing Units For Seasonal Occasional Use47289
Vacant Housing Units All Other Vacants146158
Housing Units Homeowner Vacancy Rate Percent2.5
Housing Units Rental Vacancy Rate Percent9.1
Housing Tenure Occupied Units4836972
Housing Tenure Occupied Units Owner Occupied3263639
Housing Tenure Occupied Units Owner Occupied Population8787463
Housing Tenure Occupied Units Owner Occupied Averge Household Size2.69
Housing Tenure Occupied Units Renter Occupied1573333
Housing Tenure Occupied Units Renter Occupied Population3741396
Housing Tenure Occupied Units Renter Occupied Average Household Size2.38

Understanding Illinois Homeowners Insurance

When shopping for Illinois homeowners insurance quotes you should be aware of the various types of insurance policies that are available in your area:

  • HO-3: This is the most common type of homeowers policy. This policy type protects your home against all perils, except ones that are specifically excluded. In most cases earthquake and flood damage are excluded.
  • H0-6: This policy type is specifically written for condos or co-ops. If you own a condo or live in a co-op building this type of policy is a necessity. A HO-6 policy covers both your personal belongings and the structural parts of the building that you own. There are 16 disasters listed on a typical policy that HO-6 protects against.
  • HO-4: If you are looking for Illinois renters insurance, a HO-4 policy is a great option. Renters insurance will cover your contents as well as offer liability coverage in the event a person is injured in your apartment.

While other types of policies exist, these are the most common ones. A HO-2 is a more basic policy that offers reduced coverage levels and a HO-5 is a high-end policy that offers increased protection.

If you are shopping for a new home in Illinois, homeowners insurance is a must do. We can help you find the perfect policy for your new home, regardless of whether you need a standard HO-3 policy, HO-6 or renters insurance, our site makes shopping for homeowners insurance quotes easy. Visit our online quoting application today and let us help you shop and compare up to 12 different Illinois rates and coverage options.