Popular QuestionsPopular Questions About Illinois Business Insurance

Why Should I Have Illinois Business Insurance?

In 2018, small businesses in Illinois made $490 billion. If a liability claim, property damage or workers' compensation claim comes your way, how would you handle the associated costs? 

If you don't have the proper amount and type of coverages, you'll have to be pay for things out of your pocket, meaning they have to be paid out of your business’s revenue.

How Have Other Business Owners Used Their Business Insurance?

40% of small businesses are likely to experience a property or general liability claim in the next 10 years. Here are some things these companies have been using their insurance on:

  • Theft Or Burglary: Average Cost Per Claim - $8,000
  • Water Damage & Freezing Pipes: Average Cost Per Claim - $17,000
  • Wind & Hail Damage: Average Cost Per Claim - $26,000
  • Fire Damage: Average Cost Per Claim - $35,000
  • Customer Slip & Fall: Average Cost Per Claim - $20,000
How does Illinois Business Insurance Help Me?

Illinois business insurance will pay for covered claims so your business doesn’t have to. It gives you peace of mind so you can focus on what matters: your business's bottom line.

Here’s what a standard business insurance policy should do:

Pay For Damage To Your Building

  • We call this “Commercial Property Insurance.”
  • Example: A tree falls on your office building.

Pay For Damage To Your Business Property

  • We call this “Business Personal Property Insurance.”
  • Example: A fire destroys all your computers.

Pay For Damage To Someone Else’s Property

  • We call this “General Liability Insurance.”
  • Example: A contractor does a poor job of installing a cabinet, resulting in its falling and breaking homeowner's kitchenware.

Pay For Someone Else’s Medical Bills

  • We also call this “General Liability Insurance.” 
  • Example: A customer slips and falls on your recently mopped floor and breaks an arm.

Pay For Accidents in Company Vehicles

  • We call this “Commercial Auto Insurance.”
  • Example: Your salesperson rear-ends someone while driving to an appointment.

Pay For Employee Injuries & Compensation

  • We also call this “Workers' Compensation.”
  • Example: An employee falls off a ladder at work and can’t work for two weeks.

Sometimes, these coverages are not enough to properly protect a business against risk. Your business most likely faces unique risks and may need additional coverages.

To make sure you're properly insured, we can match you with the right independent insurance agent who specializes in your field.

What Insurance Does Illinois Require for Businesses?

A commercial insurance policy is not required of Illinois business owners, but certain aspects of it may be. 

For example, in this state, businesses that employ one or more people must carry workers' compensation insurance and businesses that have company-owned vehicles must carry commercial auto insurance. To learn more about coverage that you may need to carry, you can talk with a local Trusted Choice® agent.

How Much Does Illinois Business Insurance Cost?

It primarily depends on how risky your business is. The riskier your business is, the higher your insurance will be. Here are two examples.

  • A sole proprietor who owns a garment hemming business: $260 per year
  • A commercial landscaper with five employees who operate heavy machinery: $22,700 per year
How Do I Find the Best Business Insurance in Illinois?

Business insurance rates are calculated using a number of factors such as the risks to your business property, your liability coverage needs and the amount and types of coverage you want. Policies can vary significantly by business industry, so it is best to talk with an experienced insurance agent when building a suitable and comprehensive policy for your business.

It’s usually wise to work with an independent agent in Illinois since they have access to multiple insurance companies. Sometimes its difficult to find an insurance company who will cover your business.

  • There are 1,259 independent agents in Illinois who are ready to help.
  • In 2017 our agents helped 2,972 people.
What Are the Top Business Insurance Companies in Illinois?

An independent insurance agent compares policies from multiple companies to find the best coverage for your needs.

liberty mutual insurance
acuity insurnace
central insurnace companies
mercury insurance

InformationFind the Best Insurance in Your City

How Does Your City Measure Up?

  • Number of businesses in the U.S.: 27,626,360
  • Number of businesses in Illinois: 1,135,017
  • Burglary rate per 1,000 residents in the U.S.: 4.69
  • Burglary rate per 1,000 residents in IL: 3.75
  • Auto theft rate per 1,000 vehicles in the U.S.: 2.37
  • Auto theft rate per 1,000 vehicles in IL: 1.56


CityPopulationNumber of Established FirmsBurglary Rate Per 1,000 ResidentsAuto Theft Rate per 1,000 Vehicles
Chicago2,704,958291,0075.343.67
Aurora201,11012,2962.190.58
Rockford147,65112,59011.412.54
Joliet148,2629,5803.490.77
Naperville147,12214,4581.210.25
Springfield115,7159,0069.481.06
Peoria114,2658,05310.461.64
Champaign86,6375,8866.320.65
Bloomington76,0056,5583.750.74
Decatur72,7065,0428.660.83
DuPage County929,36898,5792.511.06
Lake County703,04763,6472.700.98
Will County692,66153,5772.351.10
Evanston74,8958,4594.410.87
Schaumburg74,4468,4261.951.01
Orland Park58,8625,6180.460.14
Tinley Park56,8314,9881.780.45
Mt. Vernon15,1371,42112.160.53
Carbondale26,1791,51512.701.48
Fox Lake10,4591,1512.650.01
Cook County5,203,499549,6865.021.12
Kane County531,71539,0393.071.21


Chicago, IL Business Insurance Cost Factors

Covering Your Business Assets

Property: It isn't surprising that the property crime rate in Chicago is higher than the national average. But property insurance in less safe areas can sometimes be more expensive. Keep that in mind when you're looking at insurance options.

Commercial Auto: If your business owns a vehicle or a fleet of vehicles, you will need commercial auto insurance. Your rates will be based on a number of factors, including the number and types of vehicles you are covering and the risk of collisions and of vehicular theft in your city.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Illinois employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Chicago, IL workers comp cost looks like.

  • Professional, Scientific and Technical Services Industry - $290/year 
  • Manufacturing Industry - $2,950/year 

These two industries are completely different from one another, and each has its own unique workers' comp rates. An employee at a manufacturing plant has different on-the-job hazards from a retail employee, which is why these numbers are different.

Aurora, IL Business Insurance Cost Factors

Covering Your Business Assets

Property: In addition to severe weather events, property crimes like theft and arson can lead to large business losses if you do not have the right insurance. The crime rate in Aurora can affect your coverage rates.

Commercial Auto: Your commercial auto insurance rate will be based on a number of unique factors, including the number and types of vehicles you are covering and the risk of collisions in your area. Additionally, the average amount of vehicular theft can make your rate higher or lower than average.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Illinois employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Aurora, IL workers comp cost looks like.

  • Retail Trade Industry - $1,480/year
  • Manufacturing Industry - $2,950/year

Workers' comp base rates are based on the kind of hazards employees face while on the job. That's why the numbers above are different from one another. An employee at a manufacturing plant faces greater risk of getting into an accident than an employee behind a service counter.

Rockford, IL Business Insurance Cost Factors

Covering Your Business Assets

Property: Your company's physical space is essential to its operations. But severe weather events, and property crimes like theft and arson can lead to serious business losses. That's why you need the right insurance to protect yourself from the unexpected.

Commercial Auto: The number and types of vehicles you are covering will determine how much you pay for commercial auto insurance. The risk of collisions and of vehicular theft in your city also impact your monthly rate. Talk to a Trusted Choice agent to learn more.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Illinois employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Rockford, IL workers comp cost looks like.

  • Manufacturing Industry - $2,950/year 
  • Retail Trade Industry, $1,480/year 

They may be the most common companies in the area, but employees at each one have their own risks while on the job. When you talk to a Trusted Choice agent, you'll understand exactly why these rates vary so much.

Joliet, IL Business Insurance Cost Factors

Covering Your Business Assets

Property: Severe weather events can strike without a moment's notice. So can property crimes like theft and arson. These situations can lead to large business losses if you do not have the right insurance. That's why you should take Joliet's crime rate into account when looking at your insurance needs.

Commercial Auto: Do you know how your commercial auto insurance coverage should be calculated? A Trusted Choice agent will help you understand that the number and types of vehicles you are covering and the amount of vehicular theft in your city affect how much you pay.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Illinois employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Joliet, IL workers comp cost looks like.

  • Manufacturing Industry - $2,950/year
  • Retail Trade Industry - $1,480/year 

While they have a few things in common, workers' comp insurance coverage is not one of them. Each business has its own unique risks, and each company needs specific types and amounts of coverage for its employees.

Naperville, IL Business Insurance Cost Factors

Covering Your Business Assets

Property: The crime rate in Naperville can affect your coverage rates just like the unique weather-related risks in your area. Property crimes, like theft and arson, and strong winds and heavy snow storms can lead to large business losses if you do not have the right insurance.

Commercial Auto: Your business is required to have commercial auto insurance if it owns a vehicle or two. But remember that these rates are based on a number of specific factors like the types of vehicles you are covering and the amount of vehicular theft in your city.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Illinois employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Naperville, IL workers comp cost looks like.

  • Manufacturing Industry - $2,950/year
  • Professional, Scientific and Technical Industry - $290/year

An employee at a manufacturing plant has a much greater risk of getting into an accident than someone at a doctor's office. That's why these two rates differ from one another — and why workers' comp insurance can be so confusing. Keep that in mind when you're comparing coverages.

Springfield, IL Business Insurance Cost Factors

Covering Your Business Assets

Property: In addition to severe weather events, property crimes like theft and arson can lead to large business losses if you do not have the right insurance. Remember that even the crime rate in Springfield can affect your coverage rates.

Commercial Auto: Commercial auto insurance may not be your top priority when you think about your insurance needs. But it's certainly required if you have a company car or have employees that drive regularly. Your rates will be based on a number of factors, including the number and types of vehicles you are covering.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Illinois employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Springfield, IL workers comp cost looks like.

  • Public Administration Industry - $110/year
  • Retail Trade Industry - $1,480/year

Workers' comp coverage varies depending on what industry you're in. Just think about it: A public administration employee faces different risks from someone in the retail or health care world. All of these industries need unique insurance to protect their employees from medical costs and protect the business from legal claims.

Peoria, IL Business Insurance Cost Factors

Covering Your Business Assets

Property: Severe weather events, and property crimes like theft and arson can lead to huge business losses — especially if you do not have the right insurance. That's why you need to consult with an independent agent about what kind of coverage of and how much protection you need for your physical property.

Commercial Auto: If your business owns a vehicle or a fleet of vehicles, you will need commercial auto insurance. Your rates will be based on a number of factors, including the number and types of vehicles you are covering and the risk of collisions and of vehicular theft in your city.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Illinois employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Peoria, IL workers comp cost looks like.

  • Manufacturing Industry, $2,950/year
  • Health Care and Social Assistance Industry, $1,490/year 

Workers' comp coverages are much different between the two, however, since employees at different job sites have different hazardous risks. These numbers are calculated strategically based on these differences, so keep that in mind when you're looking at coverages.

Champaign, IL Business Insurance Cost Factors

Covering Your Business Assets

Property: Champaign is considered a fairly safe place, but property damage can happen unexpectedly, and insurance in less safe areas can sometimes be more expensive. Keep that in mind when you're looking at property commercial insurance options.

Commercial Auto: Your commercial auto insurance rate will be based on a number of factors, including the number and types of vehicles you are covering and the risk of collisions and of vehicular theft in your city.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Illinois employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Champaign, IL workers comp cost looks like.

  • Educational Services Industry, $110/year 
  • Retail Trade Industry, $1,480/year 

These two industries are completely different from one another, and each has own unique workers' comp rates. An employee at a manufacturing plant has different hazards while on the job than a retail employee, which is why these numbers are different.

Bloomington, IL Business Insurance Cost Factors

Covering Your Business Assets

Property: In addition to severe weather events, property crimes like theft and arson can lead to large business losses if you do not have the right insurance. Ensure you have the right kinds and amounts of coverage by talking through your insurance options with a Trusted Choice agent.

Commercial Auto: If your business owns a vehicle or a fleet of vehicles, you will need commercial auto insurance. Your rates will be based on a number of factors, including the number and types of vehicles you are covering and the risk of collisions and of vehicular theft in your city.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Illinois employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Bloomington, IL workers comp cost looks like.

  • Finance and Insurance Industry, $290/year
  • Retail Trade Industry, $1,480/year

Workers' comp coverage steps in when an employee is injured while on the job or suffers an illness related to work. But rates across industries vary greatly from one another because an employee working in an office has different hazards from an employee working in a manufacturing plant. It's something to look into when you're considering coverages.

Decatur, IL Business Insurance Cost Factors

Covering Your Business Assets

Property: A number of accidents can cause damage to your property. Severe weather events are the most common, but property crimes like theft and arson can also lead to large business losses if you do not have the right insurance.

Commercial Auto: If your business owns a vehicle or a fleet of vehicles, you will need commercial auto insurance. Your rates will be based on a number of factors, including the number and types of vehicles you are covering and the risk of collisions and of vehicular theft in your city.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Illinois employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Decatur, IL workers comp cost looks like.

  • Manufacturing Industry, $2,950/year
  • Accommodation and Food Services Industry, $1,250/year 

All businesses are unique, and their employees have specific risks to think about while on the job. Make sure both your company and employees are taken care of with the proper insurance protection.