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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

  • Largest Insurer in California – Travelers Announces Home Insurance Rates Going Up 15% Posted on Monday 20th May, 2024

    Travelers Insurance, which is one of the largest insurers in California, recently announced that they will be raising premiums by an average of 15% in the Golden State. This is just the latest rate increase or policy limitation by major insurance companies who blame the increases on spreading wildfire risks, inflation, and the cost of […]

  • Should I raise my deductible to $10,000 to help offset the cost of rising premiums? Posted on Wednesday 15th May, 2024

    According to industry reports, homeowners are raising their deductibles to $5,000 to $10,000 to help offset the cost of rising premiums.  While raising a deductible into the stratosphere will absolutely lower your homeowner insurance premium, it does mean that you will have to cover your deductible amount in the event you have to make a […]

  • Should I choose the minimum or maximum homeowners insurance coverage? Posted on Monday 13th May, 2024

    As homeowner insurance rates rise across the country, some homeowners are opting for policies that offer minimal coverage to keep their premiums affordable. Unfortunately, this choice will leave them at higher risk and in a position where they may have to pay more out of pocket if they have to make a claim on their […]

  • Texas is Seeing Major Increases in the Cost of Homeowners Insurance Posted on Tuesday 7th May, 2024

    Like much of the rest of the country, Texas is seeing major increases in the cost of homeowners insurance. According to an article in Austin American-Stateman, residents of Texas have seen their insurance rates go up 50.9% on average which is the largest increase in the country for that time period. Unfortunately, experts are predicting […]

  • Homeowners Below a 580 Credit Score Pay 35% More for Home Insurance Posted on Monday 15th April, 2024

    While the odds of a major disaster hitting a specific home is the same regardless of whether the owner has a great credit score or one that puts them in a subprime category, their credit score will impact their rate in many states.  In most states, insurers are allowed to consider credit scores when setting […]

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.