Find the Best Homeowners Insurance Rates & Companies in Illinois
If you are looking for homeowners insurance in Illinois, you will find there are many insurance companies from which you can choose. Comparison shopping enables you to purchase the policy that offers the best coverage at the most competitive rate.
Independent insurance agents make comparison shopping easy. These agents have relationships with some of the most highly-rated insurance companies in Illinois. They can quickly present you with a selection of policies and customized quotes that you can review and compare together. That way, you can choose the policy that offers the coverage you want at the best value.
Arrange an obligation-free consultation with an independent insurance agent near you to get started.
The Best Homeowners Insurance Companies in Illinois
There is no such thing as one specific insurance company that is the best choice for every homeowner in Illinois. The trick is to find the company that is best for you. That is why independent insurance agents work with multiple top-rated insurance providers, including companies like:
- Nationwide: Enjoy worry-free claims, customized coverage, and quality customer service when you purchase a policy through Nationwide.
- Travelers Insurance: Since 1963, Travelers has provided its customers with reliable coverage through its full line of insurance products.
- Progressive: The convenience of state-of-the-art online services and an award-winning mobile app make this insurance company a top choice for residents of Illinois.
- Selective Insurance: Selective offers its policyholders a broad range of personal, commercial excess, and flood insurance products.
- PURE: Pure is a member-owned insurer that provides home insurance policies exclusively for high-net-worth individuals who own homes valued at $1 million or more.
- Safeco: A Liberty Mutual subsidiary, Safeco has been providing personal insurance coverage since 1923. Talk to an independent agent to learn more about how Safeco can protect your home and property.
Start your search for the best home insurance company in Illinois by consulting with a local independent insurance agent. These experienced agents can help you determine whether one of the insurers listed above or any of our many other partner insurance companies is the right choice for you.
What Homeowners Insurance in Illinois Can Cover
If you own a house in the Land of Lincoln, you can protect the investment you have made in it by purchasing a good home insurance policy. Illinois home insurance has six types of coverage:
- Dwelling Coverage: This is referred to as Coverage A. It covers damage to the structure of your home.
- Other Structures Coverage: This is referred to as Coverage B. It covers damage to structures on your property that are detached from your home, like sheds, fences, and gazebos.
- Contents Coverage: This is referred to as Coverage C. It covers loss or damage to your personal property.
- Loss of Use Coverage: This is referred to as Coverage D. It covers your extra living expenses if a covered event renders your home unsafe for habitation.
- Homeowners Liability Coverage: This is referred to as Coverage E. It covers expenses related to personal liability lawsuits if you or someone in your household is sued.
- Medical Payments Coverage: This is referred to as Coverage F. It can cover medical expenses for individuals outside your household if they are injured on your property, regardless of legal liability.
Independent insurance agents in Illinois can help you be sure that you are buying sufficient amounts of coverage in each category.
What Homeowners Insurance in Illinois Does Not Cover
Homeowners insurance provides a wide range of coverage but doesn’t pay for everything. You should not expect your policy to cover things like:
- Vehicular damage
- Damage caused by termites, insects, rodents, or other pests
- Rust, rot, and mold remediation
- Loss or damage caused by acts of terrorism
- Damage caused by floods
Also, you can expect your policy to provide only limited coverage for things like:
- Business property and equipment kept in your home
- Valuables like fine art, collections, heirlooms, and jewelry
- Recreational vehicles like boats, personal watercraft, ATVs, and snowmobiles
Fortunately, you can purchase home insurance endorsements or additional policies to cover all your property thoroughly. If needed, an independent insurance agent can help you find the best and most affordable supplemental coverage.
What Homeowners Should Know about Flood Damage in Illinois
As mentioned above, homeowners insurance policies in Illinois will not cover damage caused by floods. Unfortunately, more than half a million properties in this state have a significant risk of sustaining flood damage over the next thirty years.
If your house is among the properties at risk, you can ensure that you are protected against significant financial losses by supplementing your home coverage with flood insurance. Affordable policies are available through the National Flood Insurance Program in NFIP-participating communities. Otherwise, you can purchase coverage through a commercial provider.
In most cases, flood insurance is optional. However, if your home is located in a flood zone and you still own on a mortgage or a home equity loan, your lender will require you to maintain flood insurance coverage. It is worth noting that the average compensation per flood claim in Illinois is $13,700.
Average Cost of Homeowners Insurance in Illinois
While homeowners in the US pay an average of $1,211 a year for home insurance, the average cost of homeowners insurance in Illinois is lower at $1,056 a year. This is welcome news for property owners in this state.
Of course, this is just an average rate. Your actual costs may be significantly higher or lower because insurance companies calculate premiums on a case-by-case basis. Factors that can influence your price for coverage include your home’s size, age, and rebuild value; the crime rate and weather risks in your ZIP Code; your insurance claims history; and the amount of coverage you wish to purchase.
You can consult a local independent agent to find out how much a homeowners insurance policy will cost for your house. These agents can present you with customized quotes from some of the best homeowners insurance companies in Illinois.