Best & Cheapest Renters Insurance In Illinois 2025

Nearly 32% of households in Illinois are renters. This means 32% of people need to find the best and cheapest renters insurance. While the average cost of renters insurance in Illinois is approximately $312 per year, or about $26 per month, there are several factors that can influence what you pay. The two biggest have to do with location: whether your home is in an area with higher crime rates and whether you are in an area prone to natural disasters like tornadoes.

Having had over 15 years of experience as a licensed property and casualty agent, I’ve helped many clients find the right renters insurance to suit their needs and budget. This deep industry knowledge allows me to provide insights that save you time and money while making sure you have the right coverage.

Cheapest Renters Insurance Companies In Illinois

AAA and Lemonade are the cheapest renters insurance companies in Illinois. AAA costs an average of $7 per month, while Lemonade costs around $10.

Best Renters Insurance Companies In Illinois 2025

Auto-Owners is the best renters insurance company in Illinois, with average monthly premiums of $20.

Use the table below to view the best renters insurance companies in Illinois, and their average rates.

How Much Is Renters Insurance In Illinois?

The average cost of renters insurance in Illinois is typically around $26 per month, or about $312 annually. However, the exact cost can vary significantly depending on several factors. These include the location of the rental property, the value of your personal belongings, the coverage limits, and any additional coverage options you may choose.

Average Illinois Renters Insurance Costs – By City

Where you live in Illinois can have a significant impact on the cost of renters insurance.

Here’s a table showing the average cost of renters insurance in 10 major cities in Illinois:

Is Renters Insurance Required In Illinois?

In Illinois, renters insurance is not legally required by the state, but many landlords or property management companies may require tenants to have a policy in place. While the law does not mandate renters insurance, landlords often include this requirement in the lease agreement as a way to protect both the tenant and the property owner.

For tenants, having renters insurance is a wise decision, even if it’s not required by law. It helps safeguard personal property, which may be costly to replace out-of-pocket. Furthermore, renters insurance may provide coverage for temporary living expenses if the rental unit becomes uninhabitable due to a covered event.

While not mandatory, renters insurance can provide peace of mind and financial protection. It’s important to review the lease agreement and check with the landlord to see if it’s a requirement, as failure to comply could result in penalties or lease termination.

Common Renters Insurance Discounts In Illinois

Renters insurance providers in Illinois offer various discounts that can reduce your premiums:

• Bundling Policies: Combining auto and renters insurance with the same company can lead to savings.
• Security Features: Installing security systems or smoke alarms can result in discounts.
• Claim-Free Discounts: If you haven’t filed claims in several years, you may qualify for lower rates.
• Property Age: Newer, well-maintained homes may qualify for discounts.
• Loyalty Discounts: Long-term customers may receive reduced rates over time.

Common Renters Insurance Claims In Illinois

The most common renters insurance claims in Illinois include damage from natural disasters, particularly hail and wind damage from severe storms and tornadoes. In major cities, the most common claims include vandalism and theft as well as water damage from things like broken pipes.

In heavily populated regions some claims extend to fire damage from fire started within a home or in an adjoining home, more commonly reported in apartments and condominiums. Other claims extend to flood damage from natural disasters.

Does Renters Insurance In Illinois Cover Severe Storms?

The Illinois Emergency Management Agency reports frequent, severe storms including thunderstorms, with wind and hail damage.

Renters insurance in Illinois will typically cover wind and hail damage, or lightning strikes if they are listed as covered events on your policy. However, flooding is a secondary risk of severe storms that are not covered.

Does Renters Insurance In Illinois Cover Tornadoes?

Yes, renters insurance generally covers tornado damage in Illinois. Tornadoes are typically considered wind-related incidents, and most renters insurance policies include coverage for damage caused by windstorms. If a tornado damages personal property or the rental unit itself, renters insurance will typically cover repair or replacement costs.

However, it’s important to review your policy to ensure that the specific coverage for wind and tornado damage is included. Additional coverage may be needed for high-value items, depending on the policy.

Does Renters Insurance In Illinois Cover Fire?

Yes, renters insurance in Illinois covers fire damage to personal property and the rental unit itself. If a fire destroys belongings or causes damage to the apartment or house you’re renting, your renters insurance policy will typically cover the cost of repairs or replacement. This includes damage from smoke, heat, and soot.

Renters insurance also provides liability coverage if the fire spreads and causes damage to neighboring units. It’s important to keep an updated inventory of belongings to ensure adequate coverage.

Does Renters Insurance In Illinois Cover Flooding?

Renters insurance in Illinois does not cover flooding caused by heavy rains, storm surges, or rising water. Flooding is considered a separate peril, and standard renters policies exclude this type of damage. To protect against flooding, renters in Illinois must purchase separate flood insurance through the National Flood Insurance Program (NFIP) or private insurers.

Flood insurance will cover damage to personal property and the structure of the rental unit caused by rising water, ensuring comprehensive coverage in flood-prone areas.

Does Renters Insurance In Illinois Cover Wind Damage?

Yes, renters insurance in Illinois generally covers wind damage caused by events such as windstorms, tornadoes, and hail. Wind-related damage to personal belongings, such as furniture, electronics, and clothing, is usually covered under a standard renters policy.

It’s important to review your policy to confirm that wind damage is included and to consider additional coverage if necessary for extreme weather events.

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