The Best Homeowners Insurance In Illinois For 2024

State Farm was our top choice for home insurance in Illinois due to its strong financial stability, AM Best’s highest rating (A++), and high customer satisfaction score of 829/1000 from J.D. Power.

State Farm offers various special features, including protection against Identity Theft and credit card fraud. They also assist homeowners who must rebuild their homes to comply with strict HOA codes.

While you can start the process online, State Farm requires you to meet with an agent to purchase a policy. Once you’re a policyholder, you can manage your account online through the website or app, offering convenience and time-saving benefits.

Chubb is recognized for its affordability among insurance providers for high-end homes, with rates around $2,205.00 annually in Illinois, slightly above the state’s average of $1,443.00. Despite this, Chubb remains competitive with other insurers, particularly for luxury homes.

Customers and industry experts appreciate Chubb’s high-quality customer service, a crucial aspect for policyholder satisfaction. Apart from its competitive rates for upscale homes, Chubb offers beneficial options for many homeowners. In the event of severe weather or another covered loss, Chubb allows policyholders the choice to receive a cash settlement instead of rebuilding.

Chubb also provides various features like high-tech property inspections, personalized claims, and property management services for second homes. The insurer offers add-ons to its standard home insurance policy, including coverage for water backup, equipment breakdown, and replacement of home and personal belongings.

Additionally, policyholders receive additional coverage for the extended replacement cost of their home, even if its value has depreciated.

Nationwide is highly rated by AM Best for its strong financial stability. While its customer satisfaction ratings are slightly below average, Nationwide remains a respected name in the industry with a solid reputation. With numerous local offices and agents in Illinois, Nationwide offers convenient and prompt customer service.

For those who value options in their insurance coverage, Nationwide provides a wide range of choices. Some of these options, such as coverage for credit card fraud and identity theft, are not commonly offered by many other companies.

If you face the challenge of rebuilding your home within an HOA’s strict guidelines following a loss, Nationwide offers legal assistance to navigate compliance issues. Additionally, Nationwide provides additional coverage for labor and materials needed to rebuild to code.

Nationwide also offers the Better Roof Replacement option, providing additional coverage for the installation of a new roof due to a covered loss. Their Brand New Belongings option reimburses policyholders for the loss or damage of belongings, adjusted for depreciation.

Simply purchase replacements, submit the receipts to Nationwide, and receive reimbursement for the difference between the cost of replacements and their depreciated value.

Discounts are an important aspect of home insurance as they allow policyholders to save money on their premiums. Allstate, for example, offers 11 discounts to its policyholders, which is more than the national average of 7. These discounts can significantly reduce premiums and make Allstate an attractive option for those looking to save money.

Allstate is well-regarded in the insurance industry and among customers for its strong financial foundation and quality customer service. Many insurance analysts, myself included, consider Allstate to be a top-tier company.

The discounts offered by Allstate include:

• Bundle: Up to a 25% discount for bundling multiple types of insurance, such as auto and home
• Responsible Payment: A discount for making premium payments on time and maintaining a good payment history
• Protective Device: Discount for installing fire and theft protective devices
• New Home: Discount for purchasing a new home
• Loyalty: 10% discount upon policy renewal
• Claims Forgiveness: Rates won’t increase after filing a claim
• Claims Free: 5% discount upon policy renewal for being claim-free for twelve months or more
• Automatic Payment: 5% discount for enrolling in auto-pay
• New Home Buyer: Discount for buying a newly constructed home
• Early Payment: 10% discount for purchasing a new policy within seven days of renewing an existing policy
• Deductible Reward: $100 off your deductible when purchasing a policy with Allstate

In addition to these discounts, Allstate also offers optional coverage for identity theft, credit card fraud protection, and coverage for outdoor property like landscaping and riding lawn mowers.

Farmers home insurance receives praise from customers for its policy perks and online services. The positive feedback about the online experience might be attributed to Farmers’ clear explanations of these perks and their benefits, which can help customers save money on premiums. These perks could influence your decision when selecting an insurer.

One of Farmers’ notable perks is the Replacement Cost Guarantee, which covers the entire cost of repairing or rebuilding your home due to a covered loss, regardless of the amount. Other perks include discounts for being claim-free for a minimum of 3 years, claim forgiveness after 5 years without claims, a $50 reduction in your deductible each year, and up to a 34% discount for bundling your insurance coverage with Farmers.

Despite receiving a high rating of 9.3/10 from J.D. Power, Farmers’ customer satisfaction ratings could be higher.