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
  1. Chicago, IL
  2. Business Insurance Common Coverage Options
  3. Property: Property crime rate in Chicago is higher than the national average. Property insurance in less safe areas can sometimes be more expensive, so keep that in mind when you're looking at insurance options.
  4. 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 several factors, including the number and types of vehicles you are covering and the risk of collisions and vehicle theft in your city.
  5. Workers’ Compensation
  6. 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 workers' compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the workers' compensation costs for the two leading industries in Chicago, IL  look like.
  8. Professional, Scientific and Technical Services Industry, $290/year 
  9. Manufacturing Industry, $2,950/year 
  10. These two industries are completely different from one another, and each has its own unique workers' compensation rates. An employee at a manufacturing plant has different on-the-job hazards from a retail employee, which is why these numbers are different.


  1. Aurora, IL
  2. Business Insurance Common Coverage Options
  3. 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.
  4. 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 rate of vehicle theft can make your rate higher or lower than average.
  5. Workers’ Compensation
  6. 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 workers' compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the workers' comp costs for the two leading industries in Aurora, IL look like.
  8. Retail Trade Industry, $1,480/year
  9. Manufacturing Industry, $2,950/year
  10. 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 a greater risk of getting into an accident than an employee behind a service counter.


  1. Rockford, IL 
  2. Business Insurance Common Coverage Options
  3. 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.
  4. 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 vehicle theft in your city also impacts your monthly rate. 
  5. Workers’ Compensation
  6. 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’ 'compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the workers' comp costs for the two leading industries in Rockford, IL look like.
  8. Manufacturing Industry, $2,950/year 
  9. Retail Trade Industry, $1,480/year 


  1. Joliet, IL 
  2. Business Insurance Common Coverage Options
  3. Property: Severe weather events can strike without a moment's notice, and 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.
  4. Commercial Auto: Do you know how your commercial auto insurance coverage should be calculated? An adviser will help you understand that the number and types of vehicles you are covering and the amount of vehicle theft in your city affect how much you pay.
  5. Workers’ Compensation
  6. 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 workers' compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the workers' comp costs for the two leading industries in Joliet, IL look like.
  8. Manufacturing Industry, $2,950/year
  9. Retail Trade Industry, $1,480/year 
  10. 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.


  1. Naperville, IL
  2. Business Insurance Common Coverage Options
  3. 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, along with strong winds and heavy snowstorms can lead to large business losses if you do not have the right insurance.
  4. 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 many specific factors like the types of vehicles you are covering and the amount of vehicle theft in your city.
  5. Workers’ Compensation
  6. 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 workers' compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the workers' comp costs for the two leading industries in Naperville, IL look like.
  8. Manufacturing Industry, $2,950/year
  9. Professional, Scientific and Technical Industry, $290/year
  10. 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.


  1. Springfield, IL
  2. Business Insurance Common Coverage Options
  3. 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.
  4. 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.
  5. Workers’ Compensation
  6. 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 workers' compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the workers' comp costs for the two leading industries in Springfield, IL look like.
  8. Public Administration Industry, $110/year
  9. Retail Trade Industry, $1,480/year
  10. Workers' comp coverage varies depending on what industry you're in. 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.


  1. Peoria, IL
  2. Business Insurance Common Coverage Options
  3. 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 a professional to ensure that you're properly covered.
  4. 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 vehicle theft in your city.
  5. Workers’ Compensation
  6. 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 workers' compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the workers' comp costs for the two leading industries in Peoria, IL look like.
  8. Manufacturing Industry, $2,950/year
  9. Health Care and Social Assistance Industry, $1,490/year 
  10. Workers' comp coverages are different, since employees at different job sites have different hazard risks. These numbers are calculated strategically based on these differences, so keep that in mind when you're looking at coverages.


  1. Champaign, IL
  2. Business Insurance Common Coverage Options
  3. 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.
  4. Commercial Auto: Your commercial auto insurance rate will be based on several factors, including the number and types of vehicles you are covering and the risk of collisions and vehicle theft in your city.
  5. Workers’ Compensation
  6. 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 workers' compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the workers' comp costs for the two leading industries in Champaign, IL look like.
  8. Educational Services Industry, $110/year 
  9. Retail Trade Industry, $1,480/year 
  10. 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 hazards while on the job than a retail employee, which is why these numbers are different.


  1. Bloomington, IL 
  2. Business Insurance Common Coverage Options
  3. 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. Make sure that you have the right kinds and amounts of coverage by reviewing your policy for accuracy.
  4. 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 vehicle theft in your city.
  5. Workers’ Compensation
  6. 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’ 'compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the workers' comp costs for the two leading industries in Bloomington, IL look like.
  8. Finance and Insurance Industry, $290/year
  9. Retail Trade Industry, $1,480/year
  10. 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.


  1. Decatur, IL
  2. Business Insurance Common Coverage Options
  3. 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.
  4. 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 vehicle theft in your city.
  5. Workers’ Compensation
  6. 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 workers' compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the workers' comp costs for the two leading industries in Decatur, IL look like.
  8. Manufacturing Industry, $2,950/year
  9. Accommodation and Food Services Industry, $1,250/year 
  10. 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.