Illinois is one of the central states in America, and we don’t mean just geographically. There are many reasons to buy a home and raise a family in Illinois, and we hope you’re making the absolute best of it. But there are a few things you should also be concerned about and prepare yourself for, such as fires, storms, crime, and other threats. For this reason, we recommend nearly every homeowner get an insurance policy, and we want you to consider the following affordable options.
Here are the three cheapest homeowners insurance providers operating in Illinois:
The Three Cheapest Quotes:
Whether you live on the edge of Chicago or in a far more rural area, your rate will vary from even those of the people living next to you. We ask that you take this into consideration and consider the following information as evidence of trends instead of your exact future experience.
The number listed next to each provider is the average annual rate for a standard policy.
1) State Farm: $1,240
The cheapest option in Illinois as it is in much of the rest of the United State, State Farm is as close to a household name that an insurance company can be. Able to provide a simple but effective plan for your home, State Farm is perhaps your best choice if you want to fulfill a requirement or don’t want to think too much about anything extra on their plan.
When it comes to downsides, you may want to investigate their flooding coverage to see if you can get it at all, as some areas might find a problem there. Furthermore, State Farm doesn’t have many extra options, whether for discounts or coverages, and people looking for those will want to keep reading.
You can expect the following working with State Farm:
- Some basic discounts available, such as those for bundling and installing preventative measures in your home.
- A large network of agents that ensures one is in your area and available to help you.
- A fantastic online experience and this includes a quoting tool that we couldn’t find a match for.
2) Allstate: $1,691
The best option for people who want a quality plan while also hoping to lower their rate, Allstate might be more expensive at first glance, but provides customers with plenty of options to work with and is a great all-around provider. They are also worth a first look if you want to bundle your car insurance (or perhaps another plan) with them. Finally, owners of older homes might find them to be the most forgiving of age.
That all sounds great, but the problems come when customer service gets involved. The service is often inconsistent, and response times across the board can be improved. When you are contacted, it’s often a push to upgrade your policy.
You can expect the following working with Allstate:
- Great mobile and online platforms, making Allstate one of the most digitally accessible and easy to work with companies in the state.
- Plenty of discounts available, such as those for going claim-free for some time or a discount for your first couple of years with Allstate.
- Optional coverages such as water backup, garden and landscaping, business property, scheduled personal property, and identity theft restoration.
3) Farmers: $1,699
Farmers is just a tiny bit more expensive than Allstate on average, but for people who want a lot of customization options and better service, it will be by far the worthwhile choice. They have a great history of reliable service, and we only expect that to continue in the future. If you’re willing to pay more for a better experience, Farmers should go to the top of your list.
Most problems come after signup, with customers reporting unsatisfactory coverage or rate spikes some time after first getting their policy. Just make sure that you read everything and be careful, and you should be fine.
You can expect the following working with Farmers:
- Some of the best customer service available from a homeowners insurance provider.
- Three levels of homeowners insurance to choose from, with at least the most basic level being heavily customizable.
- The ability to repair or replace your damaged home with more eco-friendly materials.
Other Notable Illinois Homeowners Insurance Providers
We cannot derive an average annual rate for every company, but despite this, there are still additional companies that we think are worth your attention and consideration. Here are two that are well-considered and popular in Illinois:
4) Liberty Mutual
Liberty Mutual probably won’t be your best choice if you’re looking for anything specialized or if you’re looking for the absolute best in any coverage. Yet with them, you will be able to get a solid all-around plan, and if you don’t know exactly what you want, they are worth your consideration.
It should be noted, however, that the other companies on this list are a bit more financially stable, although we don’t suspect this will affect most customers. More concerningly, there are some reported issues regarding people making successful claims.
You can expect the following working with Liberty Mutual:
- Discount options, such as one for being a new homeowner, another for installing safety devices in your home, and the usual bundling options.
- Plenty of other insurance products available, should you find the need for them.
- Partnerships with thousands of organizations across the country, and if you’re a member of one of them (you likely are), you can get a discount or other benefits.
Expensive in many areas, but also acclaimed, Nationwide is a company that, like Farmers, has plenty of customization options available. In fact, they might have the most flexibility in their plans, and we consider them the best choice if you aren’t too concerned about costs and know what you’re looking for.
Yet if you’re looking for optional coverages, you can expect Nationwide to get much more expensive very quickly, as we found that their optional plans were far more expensive than equivalent competitor’s options. Their service is average at worst, but could use a few improvements.
You can expect the following working with Nationwide:
- Excellent replacement coverage.
- The ability to customize your coverage levels.
- Optional flood, earthquake, water backup, and identity theft coverages. There are also optional enhanced valuables and home replacement coverages.
Illinois can be a great place to raise a family and build a career for yourself, but as with anywhere, there are a few risks to any home that you need to be prepared for, and not just in a strictly physical manner. Getting a quality insurance plan from one of the above companies can give you peace of mind, and more importantly, act as a safety net should your home sustain massive damage. It is literally the difference between a week of work and a year of tough recovery.