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Chicago Homeowners Insurance

Your Guide to Homeowners Insurance in Chicago, IL

Find the right homeowners insurance policy for you.

Steve Dahl | March 18, 2020

With its wide variety of parks, museums, theaters, art galleries, and beaches, there are many advantages to calling Chicago home. Unfortunately, heavily populated areas also tend to have higher crime rates. Other risks faced by homeowners in the Windy City include damage from house fires, tornadoes, hail, freezing temperatures and, not surprisingly, substantial wind gusts. 

When it comes to Chicago, IL homeowners insurance coverage, you have many options. Our independent insurance agents can help you assess your coverage needs and find you policies that provide ample coverage at the lowest possible rates. Contact an agent today to compare Chicago home insurance quotes and get the best value for your dollar.

  • National yearly premium average: $1,034
  • Illinois yearly premium average: $881
  • 28th most expensive premium in the US

What Does Chicago Homeowners Insurance Cover?

Homeowners insurance policies vary according to the company you choose and the coverage options you purchase. For the most part, you can expect your policy to provide compensation for:

  • Loss or damage to your home, including:
    • The structure of your home
    • Outlying structures such as sheds and fences
    • Personal property kept inside your home
  • Personal liability
  • Medical claims if someone is injured on your property

For hail or wind damage, some insurance companies may require to you purchase additional endorsements. Coverage for flood damage must be purchased separately. You will want to be certain that you have sufficient contents coverage, particularly if some very valuable belongings were to be damaged or stolen.

Number of Catastrophes in Illinois

  • National number of catastrophes: 19,033
  • Number of catastrophes in Illinois: 618
  • National number of tornadoes: 1,233
  • Number of tornadoes in Illinois: 81
  • National property damage from weather: $5,511,270,000
  • Property damage from weather in Illinois: $255,700,000

What are Chicago’s Biggest Weather Risks?

Natural disasters can lead to significant property damage to your home. Some weather risks faced by Chicago residents include:

  • Tornadoes: Tornado activity in Chicago is slightly higher than the average for the state and higher than the average for the country.
  • Snowstorms: Chicago sees an average of 38 inches of snow each year. When snow falls quickly and heavily, it can lead to damage to roofs and gutters, which can then cause problems with ice and water damage.
  • Thunderstorms: Thunderstorms occur frequently in the summer months and are often accompanied by high winds and hail. These weather conditions can lead to expensive damage to your home. A comprehensive Chicago homeowners insurance policy will provide you with peace-of-mind and compensation for damage caused by any of these weather events.

Number of Thefts in Illinois

  • National average for burglaries: 37,814
  • Illinois number of burglaries: 58,237

Damage from burglaries can be devastating to Chicago residents; the likelihood of break-ins in this state is high. Remember that you can reduce your risk of loss from home theft by installing burglar alarms, dead-bolt locks and by working with an independent insurance agent to purchase adequate Chicago homeowners insurance. With the right policy, you can recover from any loss quickly.

Get Chicago Homeowners Insurance at the Lowest Possible Rate

You can save money on your homeowners insurance by taking preventive measures such as installing fire safety devices such as smoke alarms that automatically notify your local fire department when they are activated. Many insurance companies will also offer discounts for such things as being a smoke-free household or having multiple policies through a single provider.

When shopping for Chicago home insurance quotes, it is always best to review at least three policy options before purchasing. This will help you determine if the coverage you are being offered comes at a competitive rate. You can save time by allowing an agent to do your comparison shopping for you. Agents can use their relationship with several different insurance companies to provide you with a variety of customized and competitively priced Chicago home insurance quotes. 

Get a quote today to start saving on your homeowners insurance in the future.

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