Illinois Business Insurance FAQ - Quick Answers

While you can't know your exact costs until you obtain small business insurance quotes, you can understand what the carriers use to determine your premiums. Insurance costs can vary depending on:

  • Type of industry
  • Number of employees
  • Gross annual sales
  • Location of business
  • Number of company vehicles
  • Safety practices in place
  • Past claims reported
  • Number of years in operation

Some Illinois small business insurance policies will be required by law in order to operate your company. In Illinois, workers' compensation is mandated with any number of employees on your payroll. You will also need to carry the proper liability limits for any company-owned vehicles.

In Illinois, you'll be required to carry certain policies by law, while others are not legally necessary. Check out the most common policy options below:

There are several types of liability insurance for your small business. Here are the most common liability coverages you can obtain in Illinois:

In Illinois, you'll have options when it comes to health insurance for your company. Health coverage can go a long way as an offering for your employees. If you have less than 50 employees, you're not required by law to supply health insurance.

In Illinois, Nationwide, Travelers, Hanover, and Progressive are all top-rated. These carriers are best known for their superior claims service and coverage offerings. 

Do You Know What Your Business Insurance Covers in Illinois?

Find the Best Insurance in Your City

National Business Insurance Stats

Number of businesses in the US: 30,819,176

Burglary rate per 1,000 residents in the US: 3.76

Auto theft rate per 1,000 vehicles in the US: 2.29

CityNo. of businessesBurglaries / 1,000 peopleAuto thefts / 1,000 cars
Aurora12,2961.160.72
Bloomington6,5582.190.95
Carbondale1,5154.4781.59
Champaign5,8863.381.42
Chicago291,0073.543.36
Decatur5,0426.252.45
Evanston8,4593.940.95
Fox Lake1,1512.771.15
Joliet9,5801.731.13
Mount Vernon1,4216.891.42
Naperville14,4581.090.26
Orland Park5,6180.590.44